Thailand is Advised to Exploit Casino Opportunities Amid the Regional Competition for Tourist Domination

Thailand is considering permitting integrated resorts to encourage tourism, based on Singapore’s successful model. According to analysts, strict standards may attract foreign operators, boosting tourism and expenditure in the area.

Thailand has a unique chance to become a big participant in Asia’s entertainment and tourist industries if it adopts regulated integrated resorts, according to renowned gaming expert Bo Bernhard.

According to the Bangkok Post, Bernhard, Vice President of Economic Development at the University of Nevada, Las Vegas, recently visited Bangkok to speak with officials and academics in support of legalising casinos.

During his visit, Bernhard contrasted Thailand’s potential to Singapore’s metamorphosis in the early 2000s, when the city went from being seen as “a little bit boring” to hosting globally recognized resorts such as Marina Bay Sands.

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He said that with Bangkok’s infrastructure and international airport, even two high-quality integrated resorts may enable it to outperform Singapore in terms of tourist value and duration of stay.

Despite these limitations, the measure has been criticized for missing clarity on regulatory enforcement, licensing openness, and how it will prevent criminal exploitation – concerns that have stymied similar advances in neighbouring countries like as Laos and Cambodia.

His words come against the background of mounting opposition to the casino legislation. In April, the administration led by Pheu Thai came under fire for seeking to expedite the law. Opposition MP Rangsiman Rome warned of dangers, drawing parallels to poorly controlled sites in Myanmar and elsewhere.

Good to know: Thailand’s planned entertainment complex concept would limit gaming area to 10% of the resort size. Thai residents are apparently need to produce a THB50 million (US$1.36 million) deposit retained for six months to qualify for admittance.

Bernhard stressed that only world-class operators enter markets with strict regulations. “The serious players want strict rules – anti-money laundering, know-your-customer checks, and visible enforcement,” he told me. He highlighted that casinos are often only a modest component of a larger resort business.

Economist Narongchai Yaisawang shared his comments, pointing out that, while Thailand drew 40 million tourists in 2019, visitor spending trailed significantly below Las Vegas. He feels that enhanced offers might considerably raise Thailand’s tourism value.

Bernhard decided that the next decade will be essential. Without substantial reforms, Thailand risks falling behind in a rapidly changing regional tourist race.

Courtesy: https://igamingexpert.com/, https://www.igbnorthamerica.com/, https://gamingamerica.com/news/