Las Vegas Sands’ Chief Executive Officer, Sheldon Adelson, has offered to spend up to US$6.0 billion on a 450-room entertainment and casino complex in central Bangkok, but local support for casinos remains far from certain, even though senior figures have thrown their weight behind legalizing gambling in the Kingdom.
The talks, in mid-June, were the latest efforts by Adelson’s Las Vegas Sands to break into the market, according to sources close to the situation. The plans were presented to senior Thai ministers, including Finance Minister, Sommai Phasee, who was at the centre of previous discussions with the U.S. gaming giant.
Gambling is illegal in Thailand apart from through the state lottery and the Bangkok Turf Club, however, it remains extremely popular with numerous illegal gambling dens spread throughout the country. Thais are also frequent visitors to border casinos in neighbouring Cambodia and Laos where casinos are legal.
According to a study reported...
There is still no clear path forward for the South Korean IR development, formerly known as the Caesars Korea Resort Complex, to resume construction, with the new owners not expecting an opening any earlier than 2025.
For this edition of our magazine, we focus on Southeast Asia, with a particular look at the Philippines. The country’s casino industry has been among the hardest hit in Asia, with the integrated resorts in Manila’s Entertainment City having remained mostly closed to the general public since the beginning of the crisis last year.
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.