Thailand's Casino Legalization Advances, Potential to Precede Osaka's MGM Opening

Thailand's government has approved plans for new entertainment areas that will have casinos. Almost all the members of the House voted for it, with 253 out of 257 in agreement. This means Thailand might open its first casino even before a big new resort starts in Japan in 2030.

Timeframe for Casino Developments in Thailand

• Legislation Passes Through House of Representatives
• Casino Feasibility Study Moves Forward
• Regulatory Framework Finalization: Within Two Years
• Construction of Casino: Roughly Three Years
• Opening of First Entertainment Complex: Possibly by 2029

Experts from Maybank Investment Bank predict that Thailand might open its first entertainment complex with a casino by the year 2029, taking into account the time needed for government approval and construction.

Thailand might open casinos faster than Japan due to quicker law-making processes. Japan has experienced delays, and its first casino may not open until 2030. This gives Thailand a chance to get ahead in Asia's gambling industry.

Experts think Thailand might make their casino rules similar to the effective ones in Singapore rather than Macau's style. They point out that Thailand plans to charge casinos a low tax rate of 17% and wants to add measures to protect people from gambling problems.

Casino operators who are considering working in Thailand might be attracted by the country's low taxes on the money they earn from gaming, which is 17% - only Cambodia has a lower rate in this area. The rules for getting a casino license are also attractive; these licenses last for 20 years and can be renewed every five years.

Costs to build these entertainment venues are between $2.5 and $3 billion. Many gaming companies can afford this.

Thailand's government has identified 13 areas in the east, north, northeast, and south of the country as potential spots for new entertainment centers. The Prime Minister is in charge of a group that will look over the casino proposals.

Tourism spending in Thailand might go up by 52% every year because of recent changes, which could also draw more people who want to put their money into the gaming business there.

Thailand is on track to allow casino resorts faster than expected, potentially even before Japan opens its MGM Osaka. The country is making this happen by using its laws effectively, offering tax benefits, and choosing good locations for the resorts. These steps could give Thailand an edge over other places in the region and help to bring in more tourists and money.

To learn more about the legislative process and economic impacts of casinos, visit the South China Morning Post for detailed reporting: South China Morning Post.