Up to three of those establishments would be situated in Bangkok, the nation's capital, according to the recently appointed Thai government, which wants to see up to seven casino hotels built to launch the nation's regulated gaming business.

According to recent media reports, the newly appointed Prime Minister Paetongtarn Shinawatra is expected to present a casino policy statement to parliament this week. It is anticipated that the package will contain a directive requesting that up to seven gaming establishments launch Thailand's entry into the regulated gaming market.

If the conjecture about the establishment of seven integrated resorts—three of which are located in Bangkok—comes to pass, those figures will surpass earlier estimates. There was talk earlier this year that Thailand will open with five casino hotels if lawmakers approved casino gaming, which is becoming a more realistic possibility. According to the concept, there would be two gambling establishments in Bangkok and one in Phuket, Chiang Mai, and the Eastern Economic Corridor.

Bangkok May Develop Into a Seductive Gaming Hub

According to remarks made by the Deputy Secretary-General to Prime Minister Suksit Srichomkwan in a Monday article published in The Nation, the casino legislation that the Thai cabinet is debating calls for the construction of three integrated resorts in Bangkok.

The law is said to have a clause requiring the winning bidder for a casino license in Bangkok to pay $3 billion, which would bring in an additional $9 billion for the government. Given that it is substantially less than what some operators are intending to invest in New York and far less than what it would cost to build a new casino hotel on the Las Vegas Strip, that pricing point is probably appealing to a wide range of international gaming titans.

Many gambling corporations, including US-based enterprises Las Vegas Sands, MGM Resorts International, and Wynn Resorts, would probably find a $3 billion licensing fee acceptable, assuming a long-term return on investment in the high teens or low 20s in percentage terms—a frequent aim in the gaming sector. Every one of the three has shown some interest in Thailand.

The aforementioned legislation package also stipulates that gambling establishments outside of Bangkok will require an initial $1.5 billion licensing fee, and casinos may only occupy 10% of the square footage of an integrated resort.

Other Reasons Bangkok Casinos Are Important

There are more reasons why the Thai government's decision to permit casino resorts in Bangkok is significant. First off, operators find it appealing because it is the most populous city in the nation.

Secondly, it is an improvement over the situation that Japanese game companies faced a few years ago. The two largest cities in that nation, Tokyo and Yokohama, are home to operators like Wynn and Sands, among others, who hoped to obtain licenses for integrated resorts. When it became clear that those cities wouldn't entertain casinos, those businesses, along with others, gave up on their dreams of opening casinos in Japan.

Speaking of Japan, Thai legislators who support the nation's aspirations for a casino seek to expedite the legislative procedure in order to see the opening of their country's first gaming establishments prior to the 2030 opening of MGM Osaka.