Thailand's Cabinet designated the Finance Ministry as the primary agency responsible for reviewing a report prepared by the House committee on the potential for establishing entertainment complexes with casinos in the country1. The ministry, working with 16 other agencies, is to present its recommendations to the Cabinet within 30 days, which means further updates could be released in mid-May 20241.
The report under review comes from a House committee led by Thai Deputy Finance Minister Julapun Amornvivat. He said the complexes would contribute to job creation, enhance tourism and mitigate illegal gambling, and he anticipated annual revenue of THB 40 billion ($1.1 billion) to THB 50 billion ($1.4 billion) from them1. A study submitted to the Thai parliament estimated that legalizing casinos within entertainment complexes could boost tourism revenue by approximately $12 billion, with average tourist expenditure rising 52 percent to THB 65,050 ($1,790) per trip1.
"I think it's conceivable. It's early days, though we still have work to do with the numbers and understanding it."
Goldstein confirmed Las Vegas Sands' interest in Thailand while responding to analyst questions on the company's first quarter 2024 results, and said opening a casino there could happen quicker than in Japan1. Some analysts point to a first Thai casino opening in 2029, ahead of MGM Osaka in Japan, scheduled for 20301. MGM Resorts International and Galaxy Entertainment Group have been studying the potential of opening a casino in Thailand, and Maybank has said Genting Singapore may bid for a Thai land casino license1.
Under preliminary plans, the government aims to issue between 5 and 8 casino licenses, with the Eastern Economic Corridor and tourist destinations such as Phuket and Chiang Mai named as prime candidates for entertainment complex sites1. The government's proposal would tax gross gaming revenue at 17 percent1.
| Item | Figure |
|---|---|
| Casino licenses planned | 5 to 81 |
| Proposed GGR tax rate | 17 percent1 |
| Projected tourism revenue boost | About $12 billion1 |
| Projected annual revenue from complexes | THB 40 billion to THB 50 billion ($1.1 billion to $1.4 billion)1 |
| Review deadline | Recommendations to Cabinet within 30 days1 |
What it means for players
Casinos are not yet legal in Thailand on this plan; the report is still under review and no bill has passed. Nothing changes for players in the meantime, and the current rules covered in Can I Gamble in Thailand? continue to apply. The proposal concerns casinos inside entertainment complexes, not standalone venues, and no licensing process, operator or opening date has been confirmed. The 17 percent tax rate and the 5 to 8 license figure are proposals, not settled policy. For comparison with how other Asian jurisdictions treat casino gambling, see Gambling Laws in Asia: What Is Legal in 12 Jurisdictions; the Japan reference point in the investment case is covered in Can I Gamble in Japan?.
What happens next
The Finance Ministry and 16 other agencies are reviewing the House committee report and are to present recommendations to the Cabinet within 30 days of the Cabinet's designation, putting a possible update in mid-May 20241. No date has been reported for a parliamentary vote, a licensing round or the opening of any venue.
