{"id":315891,"date":"2024-03-29T16:16:22","date_gmt":"2024-03-29T21:16:22","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=315891"},"modified":"2024-03-29T16:16:22","modified_gmt":"2024-03-29T21:16:22","slug":"thailand-could-see-its-first-casino-before-mgm-osaka-opens","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/","title":{"rendered":"Thailand Casinos Inch Closer to Reality, Could Open before MGM Osaka"},"content":{"rendered":"

Thailand is getting closer to legalizing casino resorts after its House of Representatives on Thursday easily passed legislation allowing entertainment complexes, which would include gaming venues.<\/p>\n

\"Thailand
Legislators meet in Thailand’s National Assembly. The country is getting closer to approving casinos and it could see its first before Japan. (Image: South China Morning Post<\/em>)<\/figcaption><\/figure>\n

Of the 257 House members in attendance, 253 voted in favor of the casino gaming legislation. Deputy Finance Minister Julapun Amornvivat said a casino feasibility study could now be advanced to national government\u2019s cabinet. Assuming momentum continues building, it\u2019s possible the first gaming venue in Thailand could open its doors before MGM Resorts International\u2019s (NYSE: MGM) Osaka integrated resort. The first Japanese casino hotel<\/a> is expected to open in 2030.<\/p>\n

Assuming two years to finalise a regulatory framework and three years to construct, the first entertainment centre may only open in 2029 (in Thailand),\u201d said Maybank Investment Bank in a note to clients today.<\/p><\/blockquote>\n

Should Thailand\u2019s national cabinet formally approve entertainment complexes, it\u2019s possible that up to eight such venues will be permitted and it\u2019s likely that awarding of gaming licenses will occur in phases.<\/p>\n

Thailand Casinos Could Beat Japan Efficiency, Emulate Singapore Model<\/h2>\n

Owing to its reputation as major tourist destination in Southeast Asia and its penchant for attracting visitors from China and the West, Thailand was already expected to attract some of the gaming industry\u2019s biggest names in terms of bidding for casino permits.<\/p>\n

\n

That scenario could be amplified should the Thai government continue displaying efficiency in the legalization and regulatory process. Delays and lack of clarity on those fronts are why so many of the industry\u2019s largest operators eventually threw in the towel on Japan<\/a>, leaving that country with just the MGM Osaka venue to start its move into casino gaming.<\/p>\n<\/div>\n

Analysts also expect Thailand\u2019s casino framework will be closer to that of Singapore than Macau and low tax rates could be another draw to international operators.<\/p>\n

\u201cProposed gaming tax rates are low at 17 percent and social safeguards \u00e0 la [in the manner of] Singapore will be proposed,\u201d noted Maybank analysts.<\/strong><\/p>\n

Singapore is home to just two integrated resorts, which are operated by Genting Singapore and a unit of Las Vegas Sands (NYSE: LVS).<\/p>\n

Other Thailand Casino Details<\/h2>\n

Should the country proceed with the 17% tax rate on gross gaming revenue (GGR), Thailand would have the second-lowest casino taxes in region after only Cambodia. That plus expected 20-year license terms with renewals possible every five years could be to the liking of operators. There\u2019s also talk that the largest required investments could be in the $2.5 billion to $3 billion range — easily approachable for any number of operators that could be interested in Thailand.<\/p>\n

Maybank said the Thai government likely has preferences for the initial entertainment complexes to be located in some of 13 desired locations in the eastern, northern, northeastern, and southern parts of the country. The country\u2019s prime minister will steer a committee to evaluate casino bids.<\/strong><\/p>\n

It\u2019s expected that Thai entertainment complexes featuring casinos could boost tourism spending in the country by as much as 52% annually. That\u2019s one reason why the country will likely draw bids from some of the biggest names<\/a> in the gaming industry.<\/p>\n","protected":false},"excerpt":{"rendered":"

Thailand is getting closer to legalizing casino resorts after its House of Representatives on Thursday easily passed legislation allowing entertainment complexes, which would include gaming venues. Of the 257 House members in attendance, 253 voted in favor of the casino gaming legislation. Deputy Finance Minister Julapun Amornvivat said a casino feasibility study could now be […]<\/p>\n","protected":false},"author":46,"featured_media":252973,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62],"tags":[81913,81897],"acf":[],"yoast_head":"\nThailand Could See Its First Casino Before MGM Osaka Opens<\/title>\n<meta name=\"description\" content=\"Thailand Casinos Inch Closer to Reality, Could Open before MGM Osaka.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Thailand Could See Its First Casino Before MGM Osaka Opens\" \/>\n<meta property=\"og:description\" content=\"Thailand Casinos Inch Closer to Reality, Could Open before MGM Osaka.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-29T21:16:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/Thailand-National-Assembly.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/\",\"url\":\"https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/\",\"name\":\"Thailand Could See Its First Casino Before MGM Osaka Opens\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/Thailand-National-Assembly.jpg\",\"datePublished\":\"2024-03-29T21:16:22+00:00\",\"dateModified\":\"2024-03-29T21:16:22+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Thailand Casinos Inch Closer to Reality, Could Open before MGM Osaka.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/Thailand-National-Assembly.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/Thailand-National-Assembly.jpg\",\"width\":1200,\"height\":800,\"caption\":\"Legislators meet in Thailand's National Assembly. The country is getting closer to approving casinos and it could see its first before Japan. (Image: South China Morning Post)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Asia Pacific Gaming\",\"item\":\"https:\/\/www.casino.org\/news\/asia-pacific-gaming\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Thailand Casinos Inch Closer to Reality, Could Open before MGM Osaka\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Thailand Could See Its First Casino Before MGM Osaka Opens","description":"Thailand Casinos Inch Closer to Reality, Could Open before MGM Osaka.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/","og_locale":"en_US","og_type":"article","og_title":"Thailand Could See Its First Casino Before MGM Osaka Opens","og_description":"Thailand Casinos Inch Closer to Reality, Could Open before MGM Osaka.","og_url":"https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2024-03-29T21:16:22+00:00","og_image":[{"width":1200,"height":800,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/Thailand-National-Assembly.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/","url":"https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/","name":"Thailand Could See Its First Casino Before MGM Osaka Opens","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/Thailand-National-Assembly.jpg","datePublished":"2024-03-29T21:16:22+00:00","dateModified":"2024-03-29T21:16:22+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Thailand Casinos Inch Closer to Reality, Could Open before MGM Osaka.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/Thailand-National-Assembly.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/Thailand-National-Assembly.jpg","width":1200,"height":800,"caption":"Legislators meet in Thailand's National Assembly. The country is getting closer to approving casinos and it could see its first before Japan. (Image: South China Morning Post)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/thailand-could-see-its-first-casino-before-mgm-osaka-opens\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Asia Pacific Gaming","item":"https:\/\/www.casino.org\/news\/asia-pacific-gaming\/"},{"@type":"ListItem","position":3,"name":"Thailand Casinos Inch Closer to Reality, Could Open before MGM Osaka"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/315891"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=315891"}],"version-history":[{"count":3,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/315891\/revisions"}],"predecessor-version":[{"id":315894,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/315891\/revisions\/315894"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/252973"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=315891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=315891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=315891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}