Good Morning. Yet another Shinawatra has been ousted from office in Thailand, calling into question if there’s any future for casino legislation in the country. The nation stands at a crossroads, but one that it arrived at through skilled and unskilled political maneuvering, with the hand of Thaksin Shinawatra evident in many political plays. But what could potentially happen next? Moving on to Macau, SJM continues its uphill battle with its flagship Cotai property, the Grand Lisboa Palace. But it is struggling to gain market share amongst its rivals, dragging down the company’s overall performance.
What you need to know
- What led to the ousting of Thailand’s Prime Minister and what does it spell for the future of casino legislation in the country?
- Weaker second-quarter results by SJM Holdings attributed by Seaport to the sluggish ramp-up at the Grand Lisboa Palace and a loss of market share.
- Thailand’s Prime Minister Paetongtarn Shinawatra ousted, rival frontrunner could halt any potential casino legislation.
On the radar
- Shin Hwa World loss lower than expected for 1H25, totaling $31.35M.
- Maybank cuts Genting Berhad earnings estimates by 4–14%.
- SJM’s weaker 2Q25 results due to GLP struggling to ramp up: Seaport.
- Macau hotel occupancy reaches 91% in July as guest numbers surge.
- LET Group indicates 65% revenue increase in 1H25, profit up to $12.77M.
AGB Intelligence
THAILAND
Political maneuvering determines fate of casino bill
Thailand’s road towards casino legislation has been long. And it appeared to be finally nearing a grand finale. But the ousting of the nation’s Prime Minister lays bare the political maneuvering that has led up to this point, exposing the fragility of alliances and opposing interests. Author and expert Daniel Cheng points out what led the nation to this stage and where it could potentially go from here.
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