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Daily Asia Gaming eBrief: Thai casinos could contribute to 1% of GDP

Good Morning. Thailand is moving at warp speed with expectations that casino complexes could open as early as 2029. Analysts are estimating annual revenues could contribute up to 1 percent of GDP, at over $5 billion, but might detract from overall tourism and might not benefit hotel properties. Meanwhile, Melco Resorts’ latest notes offering should help it keep its debt under control and improve its leverage as the gaming market in Macau continues to recover. Meanwhile, Indian authorities investigate companies based in Malta, Curacao and Cyprus after a massive money laundering scandal was uncovered.

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THAILAND

Casinos could contribute 1% of GDP, unlikely to boost hotels

Analysts at Maybank note that Thailand’s proposed taxation rate of 17 percent is highly competitive, compared to other nearby gaming regions, and that casino entertainment complexes could contribute up to 1 percent of GDP, or roughly $5 billion annually. Expectations are for the properties to begin opening in 2029, ahead of Osaka, if quickly passed through the legislature. However, hotels are unlikely to benefit and certain questions exist over whether the properties will actually boost tourism.


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The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.

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