MGM Resorts, Galaxy Entertainment open offices in Thailand
As Thailand is trying to push ahead with its plans to become a casino resort destination, a new report from Bloomberg has claimed that Galaxy Entertainment and MGM Resorts International have signalled their interests in the Southeast Asian country’s casino space.
Thailand has yet to grant legal status to casino resorts, but some major operators have already started making preparations for entering the potentially promising casino resort industry of the country. Galaxy Entertainment and MGM Resorts have reportedly opened offices in Thailand in hopes of winning casino licenses in the future.
Citing anonymous sources with direct knowledge of the matter, Bloomberg has also reported that the Bellagio operator was part of a group that held discussions with the Thailand’s parliament committee that was tasked with working on framework for casino resorts in the previous legislative session.
When it comes to market share, Galaxy Entertainment is one of the largest concessionaires in world-renowned casino hub of Macau, while MGM Resorts International is the biggest casino operator on the Las Vegas Strip (LVS).
Report regarding Galaxy Entertainment and MGM Resorts signalling interest in Thailand’s potentially promising casino industry emerged just a few days after NYSE-listed Las Vegas Sands reiterated its interest in Thailand. Acknowledging its interest in Thailand, Las Vegas Sands also admitted that establishing integrated casino resorts in the Southeast Asian country is a long-term process.
However, operators are quite optimistic as some Thai policymakers claim that it is possible that gaming guidelines could be set up within a year, potentially preparing the ground for the opening of the first casino hotels in the country by 2030. It is worth-noting here that MGM Resorts International is also schedule to open its integrated casino resort in Osaka by 2030.
Thailand has developed a reputation for attracting a large number of tourists from China and other parts of the world. Thus, it could be the next great frontier in Asia’s gaming scene if it decides to embrace casino resorts. Thailand is also grabbing the attention of operators as China has declared that it wants Macau operators to decrease their dependence on gambling and focus more on entertainment.
In case Thailand approves casino resorts, several other well-established operators will likely appraise the country. Owing to established footprints in the region, the list of operators with interest in Thailand includes Genting, Wynn Resorts, and Melco Resorts & Entertainment.