Mk Ssports-Thailand Inches Closer to Casino Gaming, May Outrun Japan

While Japan is technically still ahead when it comes to casinos, Thailand could potentially beat it to the finish line

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Thailand is inching closer to the launch of legal casino gaming as the recent casino legislation continues to make strides. The measure, which would allow for the construction of resorts featuring casinos, was passed by a landslide by Thailand’s House of Representatives last week.

Overall, 253 representatives out of 257 House members voted in favor of the legislation, demonstrating the overwhelming support for casino gaming. As a result, the measure will now be able to reach the national cabinet.

Under the measure, up to eight licenses could be issued to casino developers. If approved, this legislation could create many opportunities in the region.

Additionally, experts believe that Thailand’s potential casino framework will feature lower tax rates, making it more appealing to international casino companies. The proposed GGR tax is low at 17% while the framework itself is expected to be similar to Singapore’s model. Furthermore, Thai casino licenses are expected to have 20-year terms and possible renewals every five years.

Experts expect Thailand to require casino companies to invest no more than $2.5-$3.5 billion in the region.

Thailand Could Beat Japan to It

Some believe that Thailand’s quick legislative strides could help it launch its first casino before Japan does. For reference, MGM Resorts is currently working on an integrated resort in Osaka, which is expected to open in 2030.

While Japan is technically still ahead when it comes to casinos, Thailand’s legislative efficiency could potentially lead to quick legalization and the rapid creation of a regulatory framework. As a result, Thailand’s first casino resort could potentially open before MGM’s property in Osaka.

Analysts’ rosiest predictions say that the first Thai gambling property could open its doors in 2029, giving the country a head start.

In terms of economic benefits, the casino resorts are expected to attract many foreign tourists, turning Thailand into an alternative to Macau and Singapore. Experts say that casinos could lead to a 52% uptick in tourism spending.

In terms of potential bidders, Thailand is expected to attract many of the most influential casino companies in the world. MGM Resorts is certainly following the latest developments closely, as disclosed by CEO Bill Hornbuckle.

-Mk Ssports