Thailand is at a critical moment in the transformation of its gambling industry. Deputy Finance Minister Julapun Amornvivat recently revealed that as the parliament is about to deliberate the "Entertainment Complex Act," several world-class casino operators have expressed a strong desire to invest, competing for the first batch of legal casino licenses, with expected individual investment amounts ranging from 200 billion to 300 billion Thai Baht (approximately 6.2 billion to 9.3 billion US dollars), far exceeding the government's initial estimates.
During an interview with the media, Julapun stated that although the number of top global casino operators is limited, almost all leading companies consider Thailand as "the next key market." He noted that after meetings with representatives from Wynn Resorts and MGM Resorts International, both companies showed a positive intention to participate and are seen as strong contenders for the first batch of licenses.
He mentioned, "There are only about five to seven core participants in this industry, but almost all have expressed their investment interest to us. Bangkok is their most favored destination, with the potential to develop multiple world-class entertainment complexes."
According to the Ministry of Finance's plan, the "Entertainment Complex Act" will be prioritized for deliberation when the parliament resumes in early July this year. The government hopes to use the legal casino projects to upgrade the tourism industry and attract large-scale foreign investment. Notably, if calculated at the highest investment amount, the scale of future projects in Thailand could rival that of the MGM Resort currently under construction in Osaka, Japan.
Julapun also revealed that the government initially plans to issue three to five casino licenses to fully utilize Thailand's strong tourism reception capacity. He emphasized, "Thailand receives nearly 40 million international tourists annually, and with natural landscapes and infrastructure advantages, we have the conditions to develop world-class integrated resorts."
Despite the exciting prospects of the project, the "Entertainment Complex Act" still faces certain resistance. A special Senate committee is currently conducting an in-depth review of the bill's provisions, and discussions on tax policies, social impacts, and regulatory mechanisms are ongoing.
Once the legislation is passed, Thailand will become another important country in Southeast Asia to enter the era of legal casinos after Singapore, and the strategic layout of global gambling giants will undergo significant changes.
