MGM Resorts International and Galaxy Entertainment Group, two of the biggest casino operators in the world, are reportedly looking at potentially lucrative new markets. Bloomberg reported on Friday that the companies are investigating the possibility of opening casinos in Thailand.
both have significant exposure to the Macau gaming market
They both have significant exposure to the Macau gaming market and the industry as a whole is planning to hedge against an uncertain outlook in the special administrative region of China. Galaxy Entertainment is also reportedly looking at opportunities to launch gambling operations in the United Arab Emirates (UAE). Bloomberg Intelligence analyst Angela Hanlee estimated that annual gaming revenue in the region could reach US$6.6bn and eventually outperform the Singapore market.
Casino gambling is not yet legal in the UAE or Thailand, but industry experts expect that to change in the coming years as they are both popular destinations for tourists. Galaxy has offices in the two countries, while MGM has established a base in Thailand and is set to manage a Dubai entertainment resort.