While Macau has long been the world’s largest gambling hub, MGM Resorts International thinks that a casino market in Thailand could give it a good run for its money. Speaking at the G2E Asia Forum, President of Global Development Ed Bowers remarked that yearly gross gaming revenue could top $10bn if the proper infrastructure and legislation come into place.
Bowers believes that most big casino companies will have an interest in gaining a presence in the country. Its main rivals would be Macau, which has been focusing on diversifying away from being so reliant on gaming, and Singapore, which provides a blend of entertainment and gambling.
companies need sufficient return on investment
According to Bowers, an operator-friendly tax rate is an important piece of the puzzle for any commercial casino opening in Thailand. Given the risks involved in developing major resorts, companies need sufficient return on investment. Other important considerations are an appropriate number of licenses, lengthy concession periods, and access to both local and overseas patrons.
While lawmakers in Thailand have been pushing forward the idea of legalizing casinos, there have been some stumbling blocks in recent months. The latest draft of regulations would exclude almost all locals from gambling at these properties, as only those with a bank balance of at least $1.5m will gain entry.
