Notwithstanding the recent political turmoil in the nation, efforts to establish casino resorts in Thailand are gaining traction. That initiative has recently received backing from the different political parties in the country. 

Thailand’s Deputy Finance Minister Julapun Amornviva stated that the nation’s new administration supports the initiative to introduce integrated resorts to the Southeast Asian country and intends to advance efforts in that direction. The finance minister stated that 80% of the politicians present at a recent meeting on the topic backed the plan. 

Reports about the political support for Thai gaming establishments surfaced following a public feedback session on the 22-page Draft of the Complete Entertainment Business Act B.E., which concluded on Aug. 18. Clearly, the Thai populace seems to favor the country embracing casino hotels to enhance the tourism sector, a major contributor to the nation's economic activities. 

Rumors suggest that Thailand might grant up to five casino licenses initially, with sites likely being two in Bangkok and one each in the Eastern Economic Corridor, Chiang Mai, and Phuket. Every venue would have a licensing period of 30 years. 

New Administration Supports Thailand Casinos 

Last month, ex-Prime Minister Srettha Thavisin was unexpectedly ousted, yet the currents of political change in Thailand — a nation known for its political instability — do not undermine the argument for casinos. 

Paetongtarn Shinawatra has become the new prime minister, which is significant as she is the daughter of ex-Prime Minister Thaksin Shinawatra. Thaskin has already pledged his backing for Thai gaming establishments, informing media sources that their casino hotels could play a crucial role in enhancing the national economy. 

He may be onto something with that claim, as some estimates suggest that Thai gaming establishments could produce over $15 billion in yearly gross gaming revenue. If that prediction turns out to be correct or even surpassed, it would position Thailand among the largest casino markets globally. Although that rate of GGR would fall behind Macau and Nevada, it would still be sufficient to compete with or surpass Singapore. 

The governing Pheu Thai Party has recognized that Thailand is currently behind several nations in the region, such as Cambodia, Myanmar, the Philippines, and Singapore, regarding legal gaming. At present, Thailand lacks legal casinos and sports betting; however, the nation faces an abundance of illegal gambling venues, which pose challenges for local communities and law enforcement agencies. 

Thailand Has Potential to Be a Lively Casino Market 

The current political drive in Thailand for integrated resorts is significant on various levels, particularly because of the nation's goal to have some of these facilities operational before the 2030 opening of MGM Osaka. Furthermore, a welcoming regulatory framework might be crucial in attracting major operators. 

It is thought that Las Vegas Sands, MGM Resorts International, and Wynn Resorts are some of the worldwide gaming leaders looking to obtain Thai licenses. MGM stated it would accomplish this via its MGM China division. 

Experts anticipate that Thailand will choose a 17% tax on gross gaming revenue (GGR) — identical to the rate used in Singapore. That tax rate is considered appealing and would compete well with other casino markets in the area.