Thailand aims to legalize casinos next year in win for global players

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The government may initially grant five casino licenses in popular tourist destinations, with two in Bangkok and one each in Pattaya, Chiang Mai and Phuket, according to local media reports.

The country’s gross gaming revenue could reach $9.1 billion when fully ramped, which would make it the third-largest market in the world behind Macau and Las Vegas and ahead of neighboring Singapore, Citigroup analysts said in a report this week.

Galaxy Entertainment Group Ltd.and MGM Resorts International are said to be studying potential opportunities in Thailand as a hedge against uncertain prospects in Macau.Las Vegas Sands Corp.has said it would be interested in expanding to Thailand.

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Article Details

Author / Journalist: Patpicha Tanakasempipat, Suttinee Yuvejwattana, Bloomberg

Category: EconomyBusiness

Markets: United StatesCambodiaLaosMacauMyanmarSingaporeThailand

Topics: Casinos Asia

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-15 @ 09:40:13 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 578 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 23601161

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