The Thai gambling market is brewing a dramatic change. Industry insiders point out that once the relevant regulations are fully implemented, Thailand is expected to become the next growth engine of the gambling industry in Asia, with annual revenues possibly exceeding 10 billion US dollars.
At the recent G2E Asia gambling market forum held in Singapore, Edward Bowers, the Global Development President of MGM Resorts International, stated that Thailand is rapidly emerging as a key target country for Asian gambling investors. "Thailand has tremendous market potential, and its open attitude and geographical advantages make it attractive to global gambling giants," Bowers said.
According to the Macau Daily, Bowers pointed out that Macau's recent development experience shows that gambling should not be the only attraction. Integrating cultural, entertainment, and dining elements, which are non-gambling, is key to the success of future resort complexes. Thailand has natural advantages in this regard, especially in integrating tourism resources with local culture.
He also mentioned the gambling development experiences of other Asian countries, such as Singapore, South Korea, and Vietnam. Among them, Singapore's "responsible gambling" system is considered a model worth emulating, with local resident restrictions and a responsible gambling framework that both protects the public and promotes tourism development, employment, and investment environment.
In contrast, South Korea and Vietnam still have many restrictions on allowing their citizens to enter casinos, which to some extent weakens investment attractiveness. Although South Korea has strong infrastructure, its gambling policies remain conservative; Vietnam faces policy uncertainty and regulatory ambiguity, making foreign investors cautious.
Meanwhile, Bowers mentioned that MGM is advancing a large resort project in Osaka, Japan, covering hotels, dining, and gambling functions, with a planned area of 68,000 square meters. He admitted that despite facing rising construction costs and complex regulations, he remains optimistic about the long-term potential of the Japanese market.
In Thailand, the policy advancement for the legalization of gambling has clearly accelerated. In April 2024, the Thai House of Representatives passed a report on the study of gambling legalization, requesting the Ministry of Finance to submit a feasibility study within 30 days. Subsequently, in December 2024, the Ministry of Finance drafted the "Comprehensive Entertainment Business Act," which was approved by the Cabinet in January 2025 and is now awaiting review by the Legal Affairs Committee and the Parliament.
The draft bill stipulates that casinos must be located within entertainment complexes and must not exceed 10% of the total project area. The entry threshold is also high: Thai nationals need to have a deposit of 50 million Thai baht or an annual income of more than 1 million Thai baht, and must pay an entry fee of 5,000 Thai baht. The first pilot cities include Bangkok, Pattaya, Chiang Mai, and Phuket.
However, the legalization process also faces significant resistance. As Thailand is a Buddhist country, the traditional view of gambling is conservative, and many are concerned that the legalization of casinos will lead to gambling addiction, family breakdowns, and an increase in crime rates. Additionally, there are criticisms that gambling revenues may be concentrated in the hands of large enterprises and foreign capital, with local small and medium-sized enterprises and ordinary people unlikely to truly benefit, possibly even exacerbating social wealth disparities.
Another concern is potential criminal issues. Some question whether the legalization of casinos can truly eliminate illegal gambling and instead may become a hotbed for money laundering and usury crimes.
Bowers believes that gambling enterprises, when entering new markets, should comprehensively assess the regulatory environment and maintain flexibility and a long-term perspective. He emphasized, "Risks and opportunities coexist. The key is to cooperate with the government to establish reasonable and responsible regulatory mechanisms to achieve a win-win situation for gambling and economic development."
