Former Thai PM Thaksin Expects Robust Casino Bidding Process
Ex-Thai Prime Minister Thaksin Shinawatra stated that he anticipates the bidding process for casino resorts in the nation will be both competitive and transparent, noting that gaming firms that succeed in obtaining licenses will demonstrate their capacity to enhance tourism and create tax revenue for Bangkok.
During an event in Nakhon Phanom over the weekend, Thaksin expressed optimism that Thailand will enact casino gaming legislation by the end of this year. This could set the stage for the bidding process to commence shortly thereafter.
"The truth is the license will be given out by means of open bidding in which any interested parties could compete,” Thaksin said, as reported by The Bangkok Post. “(Bidders) will have to propose what they have to offer in terms of tourism benefits and tax revenue for the government.”
His remarks are significant not just due to his status as the former prime minister, but also because he is the father of the current Prime Minister Paetongtarn Shinawatra and because Thaksin is still a key player in the ruling Pheu Thai Party.
Thaksin Finds Motivation in Singapore's Casino Approach
It is commonly thought that Thailand might grant up to five casino licenses initially, with speculated sites being two in the capital, Bangkok, and one each in the Eastern Economic Corridor, Chiang Mai, and Phuket.
Thaksin reaffirmed the belief that Thailand ought to adopt the Singapore integrated resort model, indicating that gaming establishments in the Southeast Asian country will not dominate the casino landscape nor will they depend heavily on local funding and visitors. The ex-prime minister expressed his hope that every entertainment complex will generate a minimum of 20,000 jobs.
“Like in Singapore, the casino here will take up less than 10% of the space in the entertainment complex which will have many other activities to offer tourists,” said Thaksin by way of The Post. “It has to leave Thai people better off. All too often, people find all that’s left when they put their hands in their pockets are pawn tickets.”
Thai casinos are anticipated to adopt a model similar to Macau's, where the concessionaire approach will be utilized, creating a partnership between the government and gaming firms.
Talking about Macau…
As new markets rich in potential are rare and the Asia Pacific region appeals to gaming firms, several major players in the industry, particularly those with a presence in Macau, are anticipated to seek licenses in Thailand.
These consist of Galaxy Entertainment, Melco Resorts & Entertainment led by Lawrence Ho, and MGM China. MGM China is 56% owned by MGM Resorts International.
There is also speculation that Las Vegas Sands and Wynn Resorts, which together operate seven integrated resorts in Macau, will be among the contenders for casino permits in Thailand.
