The new Prime Minister of Thailand, Paetongtarn Shinawatra is set to boost the country’s casino ambitions, with local media reporting that she is set to commence plans on seven projects in the region.
Shinawatra took a significant step in the early days of her premiership as she set out her policy statement, where she pinpointed a key focus on the growth of the region’s entertainment and tourism industries.
Her backing of the sector should come as little surprise, given her father, ex-Prime Minister Thaksin Shinawatra, also recently vocalised his support for the growth of the sector and its potential impact on the country’s economy.
The Nation news outlet detailed that the entertainment venues will be able to grant 10% of their floor space to gaming.
Furthermore, reports also suggest that there will be a total of three venues in Bangkok, further tapping into the city’s economic opportunities.
It comes after Japan laid bare its ambitions for the growth of its casino sector yesterday, when MGM confirmed the decision to waiver its right to withdraw from the Japanese casino sector, meaning plans for a casino launch in the region by 2030 are set to be formalised.
The debut casino project in the region is set to launch in Osaka and predicted to be worth around $10bn.
The plans will not only see the launch of a casino in Osaka, but also an entertainment complex that bolsters the tourism economy of the region.
Latest steps taken by MGM likely open the door for construction to commence on the project, as Japan continues in its efforts to be one of the most significant emerging opportunities for operators.
Thailand and Japan have been engaged in something of a race for the opening of the sector, as both are being touted as two of the most exciting emerging markets of the future.
One of the operators that has eyed growth into Thailand is Genting’s Malaysia-facing brand.
According to reports, President and Chief Operating Officer Tan Kong Han was updating investors at Genting’s Annual General Meeting, where he outlined the best path to “unlocking the most shareholder value and also elevating the brand’s value”.
Genting has enjoyed growth in recent times, successfully rebounding from the pandemic at pace in Asia.
