As Thailand attempts to establish integrated resorts, industry experts highlighted a significant contrast with the hesitancy in Japan, emphasizing that local Thai investors are eager to develop casinos.
Key locations in Bangkok, such as the Impact Arena, Exhibition and Convention Center, and Bang Na, were identified as prime sites, but discussions reveal the need for varied investment strategies and caution against over-concentration in the capital, which could undermine tourism in other regions.
A panel at the 2025 ASEAN Gaming Summit delved into the most promising emerging markets in Asia, with some prominent gaming media figures giving their two cents on which location in Thailand could or should be the first to develop an integrated resort if the entertainment complex bill currently under development comes to fruition.
For starters, Muhammed Cohen – Asia Editor at Large for iGaming Business/Clarion Digital Media – highlighted a distinct difference between investor enthusiasm in Thailand and Japan.
“The investors who remain enthusiastic about Thailand are Thai investors. And this makes Thailand very different from Japan, where no major Japanese companies, with the exception of Orix, raised their hands to say, ‘We want to invest in integrated resorts in Japan,’” Cohen explained.
He emphasized that major Thai groups, familiar with large real estate developments, are eager to incorporate casinos into their projects, although he cautioned that this might not necessarily drive tourism, which is a primary goal of the initiative.
Cohen identified two prime locations in Bangkok that are ready for development as soon as the legislative framework is approved.
“Just north of Bangkok, there’s a development called Impact. It’s the largest convention center in Asia. It also has an indoor arena. It has a community of 300,000 people around it, all developed by a public listed company called Bangkok Land,” he noted.
He also pointed to Bang Na, a major retail area south of Bangkok connected to the Bangkok Mass Transit System, commonly known as the BTS Skytrain, as another viable option. “Impact will also be connected to the Sky Train later this year,” he added, reinforcing the logistical advantages of these sites.
Meanwhile Tiago Azevedo, Principal at GGRAsia, pointed out that investment expectations should vary by location.
“You cannot expect companies to invest the same amount if they go to Bangkok, if they go to Phuket, if they go to Chiang Mai,” Azevedo stated. He suggested that specific plans should be developed for each area, particularly in tourist-heavy locations like Phuket, where a more budget-oriented approach might be necessary.
The discussion also touched on the regulatory framework surrounding integrated resorts. A panelist raised concerns about a possible rule limiting casinos to 10 percent of the overall entertainment complex, to which Cohen dismissed the significance of this limitation, arguing that it could be adjusted without major implications.
“A long time ago, a casino operator told me that the 10 percent casino space number is irrelevant. You just build another parking garage,” he remarked. He cautioned that if multiple casinos were built in Bangkok, it could economically disadvantage other regions. “If you build two in Bangkok, you basically kill anything else outside of Bangkok,” Cohen warned.
Martin Williams, a journalist with Vixio Gambling Compliance, underscored the importance of a strategic approach to location choice. He reflected on Japan’s struggles with a “one-size-fits-all” model and emphasized the need for flexibility.
“The one-size-fits-all model was a disaster for Japan because the central government wasn’t willing to be flexible enough to meet the needs of local companies,” he asserted. Williams advocated for concentrated development, suggesting that a cluster of resorts could enhance confidence and economic viability.
