Thailand is on the verge of a monumental shift in its gambling landscape, with a new bill in the works that could open the doors to legal casinos within integrated resorts (IRs). The legislation is being fast-tracked, and if passed, it will pave the way for a multi-billion-dollar casino market that could transform Thailand into a global gaming hub.
Prime Minister Paetongtarn Shinawatra’s Secretary-General, Prommin Lertsuridej, has indicated that the bill could be finalized by mid-2025, with the Cabinet expected to approve it before the end of 2024. Once cleared, it will move to parliament for further discussion, setting the stage for a new era of legalized gaming in Thailand.
A Big Gamble for Thailand’s Economy
At the heart of this legislation is the proposal to develop integrated resorts (IRs)—multi-use complexes that combine casinos with hotels, theme parks, concert venues, and retail spaces. These large-scale resorts will target international tourists and serve as comprehensive entertainment hubs, similar to the successful model in Singapore.
The government is aiming for the first IR to open by 2029, a bold move designed to outpace Japan, which is expected to launch its own IRs around the same time. If successful, Thailand could become the third-largest gaming market globally, behind only Macau and Las Vegas.
Citigroup analysts estimate that Thailand’s gaming market could generate annual revenues of $9.1 billion once fully developed. This would place the country ahead of Singapore, where the renowned Marina Bay Sands and Resorts World Sentosa earned $3.8 billion in 2023.
Strategic Locations and Licensing
Under the new legislation, Thailand plans to issue five casino licenses, initially targeting high-traffic tourist areas such as Bangkok, Pattaya, Chiang Mai, and Phuket. The government has set a high bar for applicants, requiring them to be Thai-registered companies with a paid-up capital of at least $286 million. Each license will cost $148 million upfront, with an annual renewal fee of $30 million, and licenses will last for 30 years, with renewals available in 10-year increments.
The Thai government hopes that these licensing terms will attract global gaming giants such as Galaxy Entertainment Group, MGM Resorts, and Las Vegas Sands. Prommin Lertsuridej noted the growing interest from major international operators, saying, “Many people have tried to talk with us,” signaling that investor confidence is already building.
Fighting Illegal Gambling and Boosting Employment
The push for legal casinos is not just about tourism revenue; it’s also a direct response to the country’s persistent problem with illegal gambling. According to a 2021 study, nearly 60% of Thai citizens engage in gambling, often crossing borders into Laos, Cambodia, or Myanmar to access legal casinos. By introducing a regulated casino market, the government aims to redirect this activity into a formalized system, curbing illegal operations and generating much-needed tax income.
To manage social concerns, the legislation includes measures such as a $144 entry fee for Thai nationals, while foreigners will have free access. The government expects the integrated resorts to create significant job opportunities, with each IR projected to provide at least 10,000 jobs. This would give the Thai economy a major boost, particularly as the country recovers from the impacts of the pandemic.
Phiphat Ratchakitprakarn, Thailand’s Labour Minister, emphasized the broader economic benefits of legalizing casinos, stating, “Legalizing casinos in Thailand will help boost income for the country through spending and taxes. It will also help ease the problem of illegal gambling, especially online gambling, which has been growing rapidly.”
What’s at Stake for Thailand’s Future?
This new bill marks a transformative moment for Thailand’s economy, tourism, and gaming sectors. With the introduction of integrated resorts, the country stands poised to become a major player in the global gaming industry, attracting high-spending tourists from around the world. The economic potential is staggering, but so are the risks—particularly when it comes to social issues, regulation, and ensuring that the benefits outweigh the challenges.
As the legislation advances through parliament, all eyes will be on Thailand to see if it can strike the right balance between embracing this lucrative industry and maintaining its social fabric. By 2029, Thailand hopes to tap into a $9 billion gaming market, reshaping its tourism sector and putting it on the map as a top global gaming destination.
