Confidence is growing that the bill for integrated resorts in Thailand will be passed by the end of 2025.
Should current plans and forecasts be met, initial integrated resorts could be opened as early as the end of 2025, with the bill being touted for the middle of the year.
Updating Bloomberg News, Secretary-General Prommin Lertsuridej revealed that the law should be passed six months from now at the earliest.
He added that this means that next year should see the start of market developments, with a myriad of steps still being required.
Key to the new bill is allowing just 5% of integrated resort floorspace to be allocated to gaming, enabling the rest of the real estate to be dedicated to entertainment and subsequently seen as versatile venues that can benefit tourism rather than just gambling outlets.
Further cementing the plans and accelerating the progress, there was also recent support from new Prime Minister, Paetongtarn Shinawatra for plans on seven projects, according to local media reports in the region.
The industry was buoyed by Shinawatra’s policies from the outset as she laid out her policy statement, where she pinpointed a key focus on the growth of the region’s entertainment and tourism industries.
Her backing of the sector should come as little surprise, given her father, ex-Prime Minister Thaksin Shinawatra, also recently vocalised his support for the growth of the sector and its potential impact on the country’s economy.
The Nation news outlet detailed that the entertainment venues will be able to grant 10% of their floor space to gaming.
Furthermore, reports also suggest there will be a total of three venues in Bangkok, further tapping into the city’s economic opportunities.
It comes after Japan laid bare its ambitions for the growth of its casino sector yesterday, when MGM confirmed the decision to waiver its right to withdraw from the Japanese casino sector, meaning plans for a casino launch in the region by 2030 are set to be formalised.
The debut casino project in the region is set to launch in Osaka and predicted to be worth around $10bn.
Thailand and Japan have been engaged in something of a race for the opening of the sector, as both are being touted as two of the most exciting emerging markets of the future.
