Thailand is preparing to legalise casinos under its proposed “entertainment complex” bill, aiming for Cabinet approval this year and parliamentary passage by 2025.
The move aims to capitalise on Thailand’s strong tourism appeal while projecting a gaming market valued at $9.1 billion in coming years.
Prime Minister Paetongtarn Shinawatra’s office disclosed that the legislation could allow casinos to operate within large entertainment venues in key tourist areas.
Projected gaming revenue for Thailand could reach $9.1 billion annually, Citigroup analysts revealed, placing the nation among the top three global gaming markets.
This would situate Thailand ahead of Singapore and just behind Macau and Las Vegas. The country anticipates becoming fully operational within 6 years of the law’s passage.
Thailand is aiming to legalize casinos next year to draw foreign investments and collect more taxes https://t.co/1faA0lgIoP
— Bloomberg Asia (@BloombergAsia) November 15, 2024
Global gaming giants, including Galaxy Entertainment Group and MGM Resorts International, are reportedly exploring opportunities. Las Vegas Sands has also expressed interest in expanding into Thailand.
According to Prommin Lertsuridej, Secretary-General to the Prime Minister, the government has engaged with “big investors with world-class experience” as it develops the framework.
The law mandates that casinos be part of entertainment complexes operated by Thai-registered companies with a minimum paid-up capital of 10 billion baht (£225 million).
Licences will cost 5 billion baht (£113 million) in the first year, plus an annual renewal fee of 1 billion baht (£23 million). Licences will last 30 years, with options for 10-year extensions.
Initial plans suggest 5 licences may be granted: two for Bangkok, and one each for Pattaya, Chiang Mai, and Phuket.
The complexes must feature at least four other types of businesses, such as hotels, shopping malls, or amusement parks, alongside the casino.
Gambling has been largely illegal in Thailand since 1936, despite a 2021 study showing 60% of the population participates in some form of betting.
Many Thais currently travel to neighbouring countries like Cambodia and Laos to access casinos, underscoring the potential domestic demand.
