Good Morning. It’s a race against time. Authorities in Thailand are doing their utmost to accelerate legislation that paves the way for the country’s first integrated resort, with an expert saying they’re “desperate” to beat Japan to the punch. But once open, the country’s proposed tax rate will make it highly competitive with regional competitors. Switching to Singapore, the multi-billion dollar money laundering case, linked to online gambling based in the Philippines, could set a precedent on how money can legally flow into the Merlion city.
What you need to know
- Thai authorities are “desperate” to beat Japan and open an integrated resort before 2030, but nothing is set in stone.
- Singapore money laundering case calls into question how proceeds of overseas online gaming operations can be used legally: law expert.
On the radar
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- VGCCC initiates new investigation into bingo operations.
- Philippine senator wants probe into Chinese influx in part of Metro Manila.
- G2E Asia 2024 draws to a close, take a look inside: video.
AGB Intelligence
THAILAND
Authorities “desperate” to open IR before Japan: expert
Authorities in Thailand are doing their utmost to push through casino legislation, as they are “desperate” to open the country’s first integrated resort before Japan does. A top expert notes that the process could be expedited but would still only see a casino opening by 2029. There is also pushback due to the country’s already strong tourism sector, however the attractive proposed taxation rate would make the country’s nascent casino industry highly competitive regionally.
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