Good morning. Thailand is going full steam ahead. The approval of the draft IR law by the Cabinet marks a significant step towards legal casinos in the country. This is set to bring not only regulatory benefits but contribute significant tax revenues, although certain clarifications are required. But why stop at land-based? The general acceptance of a gaming future could encompass the online sector – tapping into the booming segment that previously was unregulated. Meanwhile, in Macau, Citigroup says premium players are on the rise in January, even though CNY is approaching.
What you need to know
- Thailand’s IR draft law approval could be followed by legislation centered on online gaming, predicts an analyst.
- Thailand Cabinet approves Entertainment Complex Business Act, however multiple hurdles still remain before casinos can open.
- Citigroup finds a 19% rise in premium mass players and increased wagers in Macau’s gaming market in January.
On the radar
- Singapore’s Marina Bay Sands expansion budget climbs to $9B.
- Macau-based investor now holds over 5.5% voting rights in The Star.
- Push to increase inspections, investigate banks over POGOs.
- Clark aims to attract more Taiwanese partners for freeport zone.
- Singapore’s Gambling Regulatory Authority orders block of Polymarket.
- Court greenlights IPI asset auction, base bid set at $10 million.
AGB Intelligence
THAILAND
Draft law approval could pave way for online bill: analyst
Thailand’s draft land-based casino law has been passed by the Cabinet and now proceeds to the House, a landmark achievement for the nation as it moves to open its first legal casino. The move is seen as a positive not only for operators keen to set up integrated resorts in the country, but could also be paving the way for legalization of the online sector, notes a top analyst, providing the nation with even more tax revenue.
Industry Updates
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- Yolo Group appoints Jean Claude Magri as CFO for Yolo B2B Products.
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