Thailand’s emerging casino race is coming into focus, with a top government official revealing that only five to seven global gaming operators have the financial capacity to build world-class entertainment complexes in the country.
Deputy Finance Minister Julapun Amornvivat told The Bangkok Post that only a handful of major operators can realistically execute Thailand’s casino ambitions. While he didn’t specify names, executives from MGM Resorts International and Wynn Resorts were recently spotted in the country, and other industry giants are known to be evaluating opportunities.
“There are only about five to seven top-tier global operators in this sector, and they all view Thailand as a promising investment destination,” Julapun noted.
He added that each integrated resort could require between $6.2 billion and $9.3 billion—double or triple earlier estimates of $3.1 billion. Such price tags would make Thai casino developments among the most expensive in industry history, potentially surpassing some of Asia-Pacific’s priciest casino properties.
Bangkok Could Host Two Casinos
Earlier this year, officials identified Bangkok, Chon Buri, Chiang Mai, and Phuket as the first approved locations for regulated casinos. Long-circulating rumors suggested Bangkok could receive two properties, and Julapun confirmed the capital is capable of hosting multiple large-scale entertainment complexes.
“Bangkok is seen as highly suitable, with the potential to support more than one entertainment complex,” he said.
The capital’s massive tourism draw makes the idea attractive to global operators—especially after Japan’s casino efforts faltered when its largest cities declined to host integrated resorts.
Thailand expects to issue three to five licenses initially, meaning some major bidders will inevitably be left out. When parliament reconvenes in July, gaming legislation will be a top priority, with officials aiming to fast-track the regulatory framework and launch bidding soon enough for the first casinos to open before 2030.
Who Are the Likely Contenders?
With only a small pool of operators capable of investing billions into Thai casino projects, the list of credible contenders is relatively clear.
Interest has already been expressed by:
- MGM Resorts International
- Wynn Resorts
- Las Vegas Sands
- Melco Resorts & Entertainment
- Genting Group
- Galaxy Entertainment Group
Most are seasoned operators with heavy Asia-Pacific footprints. To date, few additional U.S.-based companies appear willing—or able—to commit to the massive $6.2B–$9.3B investment threshold.
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