Thailand’s Cabinet is supporting a National Assembly committee examination regarding the inclusion of regulated casino resorts in the nation, giving the Ministry of Finance a 30-day timeframe to outline subsequent actions. 

The decision came after the cabinet's regular meeting on Tuesday, and it followed a late March vote by the Thai House of Representatives where 253 out of 257 members present supported the idea of entertainment districts, which would encompass casino hotels. Kenika Ounjit, the deputy government spokesperson, stated that there will be opportunities for public comment and involvement prior to the government's decision on the casino legislation. 

She recognized that the entertainment complexes, which will feature non-gaming options like concert and sports arenas and MICE (meetings, incentives, conferences, and exhibitions) facilities, are crucial to Thailand’s initiatives to enhance tourism — a key element of the nation’s economic framework. 

The Southeast Asian country aims to attract 80 million foreign tourists each year by 2027. Integrated resorts may play a crucial role in that initiative. 

Casinos in Thailand May Serve as Economic Engines 

The exact number of entertainment centers to be approved remains undecided, but it is evident that the inclusion of a casino could make these venues catalysts for economic growth in Thailand. It is anticipated that every entertainment district will need at least an investment of $2.75 billion. 

In a recent report for clients, analysts from Maybank indicated that Thai authorities might authorize as many as eight casino resorts. Last week, the Chonburi Real Estate Association expressed its belief that if the government approves up to 20 gaming venues, over 30,000 jobs would be generated, and the Thai economy could expand by 4% to 5% each year.

"The real estate industry would especially benefit from increased sales and expansion of projects in a radius of up to 10 kilometres from the complex,” said Chonburi President Watthanaphol Pholchewin in an interview with The Nation.

Twenty gaming establishments in a nation the size of Thailand might be considered excessive and could raise worries about cannibalization and excessive gaming access. However, eight such venues could effectively achieve goals like job creation, boosting tax revenue, and drawing in more tourists. 

Thailand Casinos May Attract Prominent Bidders 

If Thailand proceeds with permitting integrated resorts and enables several venues simultaneously, the competition for the licenses will be intense and probably attract some of the largest players in the sector. 

Among prominent industry brands, Las Vegas Sands has shown some degree of interest in Thailand, and comparable speculation surrounds Genting Singapore. Moreover, it is thought that Galaxy Entertainment and MGM Resorts International would also be keen on obtaining licenses in that location. 

The previously mentioned minimum investment of $2.75 billion, paired with a projected tax rate of 17%, is likely to attract international firms considering offers for Thai gaming licenses.