Commentary: Will Thailand’s ‘integrated entertainment complexes’ become the new industry leader in Asia?

SINGAPORE: Macao, Genting Highlands, Singapore’s Marina Bay – may perchance well Bangkok be the next quit for casino-loving tourists?

Almost a year after Thailand’s sleek government got right here to strength, it has made famous strides in the direction of legalising casino gambling, a seed sown more than twenty years ago when Thaksin Shinawatra became high minister. A draft law will be tabled in parliament this month, with High Minister Srettha Thavisin setting an daring target to experience it by early 2025.

Thailand’s first magnificent casino may perchance well open by 2029, leapfrogging Japan in launching the next major integrated resort in Asia. MGM Osaka is anticipated to open in 2030, after securing government approval in 2023. The lightning tempo and efficiency of Thailand’s process distinction sharply with Japan’s meandering streak to devour its casino legislation.

This swift action comes as Mr Srettha grapples with a listless Thai financial system. The entice is glaring.

Monumental-scale “integrated leisure complexes” – deliberate for the Jap Financial Hall, Phuket and potentially two in Bangkok – may perchance well entice effectively over US$10 billion in international investment, bringing jobs, earnings and a famous tourism enhance. The dominion may perchance well voice of affairs 5 to eight leisure complex licences in total.

Thailand anticipates welcoming over 36 million company this year, nearing its pre-pandemic peak of 40 million. This robust tourism resurgence bolsters the government’s self assurance in replicating, and potentially surpassing, Singapore’s success with integrated motels.