The Thai government plans to open seven integrated casino resorts in the country. Special attention will be paid to the capital, Bangkok, where three such casino resorts will appear at once.
According to the authorities, this project will boost Thailand’s regulated gambling industry. The presence of casinos will attract more tourists, which will positively impact the country’s economy. According to media reports, Thai Prime Minister Paetongtharn Shinawatra will present a comprehensive policy statement on casinos to the country’s parliament.
According to the proposed plan, as many as three casino resorts will open in Bangkok, Thailand’s most populous city. This policy decision shows that the national government believes in the capital’s huge potential as a lucrative center for casino operations. The legislative package also includes specific guidelines for casino licensing.
Anyone who wins the bidding for a casino license in Bangkok will have to pay a considerable license fee of $3 billion. This would supposedly bring in a total of $9 billion to Thailand’s budget. While this is a substantial sum, it still falls short of the cost of building a new casino hotel on the Las Vegas Strip.
The long-term return on investment in the gaming industry typically ranges from 10% to 20%. The $3 billion license fee will likely attract several global gaming giants. Companies such as Las Vegas Sands, MGM Resorts International, and Wynn Resorts, all based in the US, have previously been interested in Thailand, making this opportunity particularly attractive to them.
Also included in the law are guidelines for licensing casinos outside of Bangkok. For them, the initial fee will be 1.5 billion dollars. All these figures are prominent, especially with the iGaming industry growing. Various gambling entertainment is available directly on smartphones and tablets. For example, cricket betting is popular in the country. It only takes a few minutes to start placing bets. You need to visit the Iplbettingapps website, which ranks top among similar betting-related resources, and find here suitable cricket betting app. In addition, thousands of gambling games are usually available in such applications. So, visiting a land-based casino is really not necessary.
The Thai government supports the initiative to establish casinos in the country and is seeking to speed up the legislative process so that the first establishments can open before 2030. The advent of regulated casino resorts in Thailand, particularly Bangkok, will significantly affect the tourism industry. As Bangkok is the country’s most populous and largest tourist center, it is the most attractive destination for casino operators.
Opening casino resorts is expected to benefit the tourism industry and create significant economic opportunities for the country. A license fee of $3 billion for each casino in Bangkok and a fee of $1.5 billion for establishments outside the capital will provide an impressive revenue stream for the Thai government.
