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It proposes complexes located within 100km of international airports , a 20-year licence term , a minimum investment of 100 billion Thai baht ($ 2.8bn /£ 2.17bn /€ 2.52bn ) and a 17 % gaming tax rate that would bring government coffers welcome revenue . The overriding goal , however , is to boost tourism .
$ 34bn
Total spent by tourists to Thailand in 2023 , just 56 % of 2019 ’ s number
( source : Tourism Authority of Thailand )
THAILAND : OPEN FOR PLEASURE
Thailand attracted 40 million international visitors in 2019 , ranking eighth globally in arrivals and fourth in visitor receipts at $ 61bn . Last year , even though previous top source market China provided just 3.5 million arrivals compared with 11 million in 2019 , foreign visitors reached 28 million , 70 % of 2019 ’ s number . Tourism receipts in 2023 were $ 34bn , though , just 56 % of 2019 . Thailand hopes IRs will attract higher yielding visitors .
“ Integrated resorts are proven models that drive investment , tourism and jobs with gaming as the economic engine ,” B Global managing partner Brendan Bussmann says . “ There are plenty of opportunities to have various aspects that will drive additional tourism , building upon the existing infrastructure for Thailand to use IRs as a vehicle to enhance their existing landscape .”
According to a seasoned Thailand hospitality hand there “ hasn ’ t been very much innovation here for a long time . Casino legalisation is about attracting the right blend of tourists , not pot stores with backpackers getting stoned .”
When Thailand legalised cannabis sales in 2022 , many envisioned restrictions and benefits vanished amid hasty approval . With casino gaming , experts inside and outside Thailand say the kingdom must grapple with several difficult issues that could delay or derail the initiative . Resolving those issues will require diligence and compromise to craft uniquely Thai solutions .
SINGAPORE MODEL WITH THAI CHARACTERISTICS
Many proponents of casino legalisation mention “ the Singapore model ”. But there ’ s a vast range of opinion on what that means and how it applies a thousand miles north in Thailand . “ The real test for the Srettha government to legalise the casino
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IGAMINGBUSINESS . COM business will be in establishing an internationally acceptable regulatory environment which will attract blue-chip operators ,” Bangkokbased strategic communications consultant Julian Spindler says .
Citing Singapore ’ s coup of a Southeast Asia exclusive for Taylor Swift ’ s Eras Tour performances , Spindler adds : “ Since our prime minister has already absorbed a ‘ Swiftie ’ lesson from Singapore , he should follow their huge
44 • ISSUE 136 • iGB L ! VE 2024