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According to a report by brokerage Citic Securities (CLSA), four of Macau’s six major gaming operators have expressed interest in opening a potential casino in Thailand.
As reported across Macau, the concessionaires believed to be considering investments in Thailand include Galaxy Entertainment Group, Las Vegas Sands, MGM Resorts International and Wynn Resorts.
MGM China and Galaxy were the first to voice their interest when Thailand announced plans to legalise its gambling sector.
On Thailand’s side, CLSA highlighted the country’s “urgent need of an economic revival” and the move to legalise casinos was strongly supported by the country’s Parliament, in which the final draft of the bill (dubbed the ‘Casino Bill’) was ready for review four weeks after its announcement in June 2024.
Said Bill would allow casinos to be built on no more than 5% of space of large entertainment complexes, with the aim to generate more state revenue and establish Thailand as a major tourism hub.
As for the proposed gaming licence, it would be valid for 20 years, with a 17% tax rate, targeting foreign visitors as the primary clientele. Prospective licence holders would need to invest a minimum of $2.7bn.
However, the first entertainment complex may not come online until 2029 at the earliest, the report quoted.
CLSA also forecasted that the annual gross gaming revenue (GGR) value of the Thai casino industry could be as high as US$30.8bn, with a base projection of US$15.1bn.
