If you are a fan of gambling, you might be interested to know that two of the world’s top casino operators are eyeing Thailand as a potential market for their gaming facilities.
According to sources, Galaxy Entertainment Group and MGM Resorts International are studying the possibility of opening casino resorts in Thailand, if the country legalises gambling in the near future.
Thailand has long been a popular destination for tourists, but it has also been a strict no-go zone for casinos, as gambling is illegal under Thai law. However, there have been some signs of change recently, as a casino resort proposal won cross-party support in the last House and is expected to be approved by the new government.
The proposal argues that legalising casinos would boost Thailand’s economy, create jobs, attract more foreign visitors, and reduce illegal gambling activities. It also suggests that casinos should be located in special economic zones or border areas, and that strict regulations and taxes should be imposed on them.
Two casino giants vying for Thailand
The two casino operators, Galaxy and MGM, are apparently keen to tap into Thailand’s potential as a gaming hub in Southeast Asia. Both companies have established local offices in Bangkok and have been conducting market research and lobbying efforts, according to sources.
Galaxy, which is controlled by billionaire Lui Che-woo, is one of the largest casino operators in Macau, the world’s biggest gambling market. It also has interests in the Philippines and Japan. MGM, which is based in Las Vegas, operates casinos in the US, China, and Japan.
Both companies are facing challenges in their core markets, as Macau’s gaming revenue has been hit by China’s crackdown on corruption and money-laundering, while Las Vegas has been struggling to recover from the pandemic. Expanding into new markets like Thailand could help them diversify their sources of income and hedge against risks.
However, entering Thailand is not without obstacles. The country still faces political uncertainty and social unrest. Moreover, there is likely to be opposition from religious groups and anti-gambling activists, who may argue that casinos would bring more social problems and moral decay.
Therefore, it remains to be seen whether Thailand will open its doors to casinos anytime soon. But if it does, it could become a game-changer for both the country and the industry.