Casino In Phuket
Casino In Phuket – While Thailand is giving up on attracting tourists, the most popular tourist destination in pre-pandemic Southeast Asia clearly feels it could lose out to its neighbors if it doesn’t roll the dice.
If you were to see an example of a copybook that leaves no stone unturned, it would be Thailand. In a desperate bid to attract tourists after the Covid hiatus, the country recently decriminalized cannabis and now wants to open casinos.
Casino In Phuket
A recommendation received by Thailand’s parliament last month called on the government to allow the construction of “entertainment complexes”, including legal casinos, in key cities across the country.
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With large inflows of investment in tourism infrastructure expected in Southeast Asia over the next few years, particularly in growth markets with the greatest potential such as Indonesia and Vietnam, Thailand may be in for a scary experience, suggested Gary Bowerman, director of Check. – in Asia, an Asia-focused travel information and research company.
Thailand wants to show it can diversify its travel and tourism sector to attract new investors, Bowerman said. “Intense competition is developing to attract investors and tourists to help rebuild the economies of the region. It will be a central part of the region’s economic narrative over the next few years.”
The integrated destination market, which combines hotels, casinos, convention facilities, restaurants, entertainment shows, luxury retail and themed attractions, is already quite crowded in Asia.
Along with regional market leaders such as Macau and Singapore, Cambodia, Vietnam, the Philippines, South Korea and Malaysia have included destinations, while Japan is developing the sector.
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With Macau – the gaming capital of Asia – still cautious about letting in tourists following mainland China’s strict Covid-free policy, there is now an opportunity for other Asian destinations to attract these tourists.
Integrated gaming resorts can be a great tool for tourism if they are seen as a help rather than a reason for it, said Alan Woinski, CEO of Gaming USA Corporation.
While Singapore, with only two connected resorts – the more business-oriented Marina Bay Sands and the more tourism/leisure-oriented Resorts World Sentosa – is perhaps the best example of how things can be done right, the South Korea and Vietnam are examples of the wrong way to do this, Woinski said.
“Vietnam encourages developers to spend $2 billion per destination and does not allow locals to gamble. Their locations were also chosen to create tourism. South Korea also allows gambling only to foreigners. Both countries experienced only losses from these destinations.”
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While talking about Macau’s success in this segment, Woinski added: “China is Macau’s largest feed market in the world. Unfortunately, it has completely blown up in their faces now.”
Thailand may have seen its popularity with Chinese travelers, but Chinese travelers came to Thailand for different reasons and there was no guarantee that these destinations could attract the vital junk market that supported Macau’s gaming sector, Bowerman noted.
Bringing an integrated destination to destination is a long-term game and involves huge capital investment. A group of Thai lawmakers has now called for an amendment to Thailand’s 1935 gambling law, which bans most forms of betting but contains a provision that allows the government to issue decrees or licenses for certain gambling activities and locations.
“At least $11 billion in additional tax revenue would be collected annually when more plants are operational,” said Pichet Chuamuangphan, the board’s vice chairman.
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After the amendment of the law, the tendering and licensing process would follow, after which it would be necessary to secure investors and franchisees. Next, master planning and approvals would have to be undertaken, followed by construction work, installation of fittings and hiring of staff, Bowerman explained.
“Japan, which reformed its casino gambling law six years ago, is a good example of how long and complicated these processes can be,” he said.
The Casino Board of Thailand has stated that it is feasible to have five casino resorts across the country. Suggested locations were Chiang Rai or Chiang Mai in the north, Pattaya City in the east, Phuket, Phang-nga or Krabi in the south, Ubon Ratchathani, Udon Thani or Khon Kaen in the northeast, and greater Bangkok.
Five destinations may be a bit much for Thailand, but they have the right idea when it comes to locations, Woinski said. “One in the city – Bangkok, and the rest in more tourist-focused locations scattered around the country.”
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In its recent earnings conference call, MGM Resorts also mentioned Thailand as being interested in the market.
Phuket would be a strong candidate for legal casinos given its significant tourism support system, said Sumitha Soorian, executive director of the Phuket Hotels Association.
“Linking gaming to a world-class tourist attraction can be a powerful move. In addition, local gambling taxes can inject much-needed infrastructure funding into the island’s economy. I would advocate for integrated resorts and not just standalone casinos,” Soorian said.
While Woinski believes that integrated resorts in Thailand could be a huge success, he cautioned, “It will really depend on how the Thai people feel about it. The Japanese have made it absolutely clear that they want nothing to do with integrated resorts. Local opposition, coupled with Japan’s ridiculously high investment parameters, has resulted in only two bids, while there are early signs of over 30 bidders.”
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With Asia’s integrated resort industry hit by Covid-19, there are also questions about whether investors will be keen to enter a new market, even if it is Thailand – the most visited country in Southeast Asia.
Bowerman explained that starting from scratch comes with big risks, as the integrated gaming market of casinos and resorts will take some time to recover. “Entering an integrated destination market provides no insurance against a future pandemic.”
Woinski would like to see Thailand adopt a Singapore-like model with just two or three destinations. “It looks like they’re going to do something between Singapore and the Philippines. Both are successful, this will be one of the few good opportunities left in the global casino business.”
However, it all depends on what the final parameters will be and tax rates, as Woinski pointed out, is what doomed many others such as Japan, Spain and Greece. “If they are sensible like Singapore, it can be very successful. But if they turn out to be hostile and unrealistic, like Japan, it won’t work,” he said.
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High-quality integrated destinations in Asia tend to generate large revenues from meetings and events, and Thailand could benefit from joining the party. But Bowerman offers some caution: In a market that’s still improving, would that weaken the existing regional market?
Photo Credit: High-end integrated resorts in Asia typically generate significant revenue from meetings and events. Stefan Schweihofer / pixabay Thailand is a well-known country and one of the most visited tourist destinations. Among the many things that usually attract travelers on their trips here are casinos in Thailand. There has been a lot of confusion about whether Thailand has casinos or not, and about the legality of gambling in the country. Below is a detailed list of all travelers interested in trying their luck at casinos in Thailand.
The government-sponsored Thai Lottery and horse racing betting are the only legal forms of gambling in Thailand. The official Thai National Lottery or Thai Lottery is drawn twice every month, ie. On the 1st and 16th. This lottery is administered by the GLO or Government Lottery Office to maintain fairness. Speaking of horse racing, there are two of the most popular and oldest places in Bangkok where you can start betting with 50 baht, namely the Royal Bangkok Sports Club (1901) and the Royal Turf Club of Thailand (1916).
Now that you know the two legal forms of gambling, this has clarified the scenario when it comes to casinos in Thailand. Gambling is illegal in Thailand. About 95% of Thai people follow Buddhism and according to this religion gambling is considered a sin. However, you can still see a large part of the population participating in gambling, or come across casinos. Don’t be fooled by these scenarios, casinos are completely illegal and can get you in trouble if you are caught playing. Gambling laws in Thailand
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Land-based casinos are banned in Thailand under the Gambling Act of 1935. Apart from betting on horse racing and the government-sponsored lottery, anyone involved in gambling can be locked up for a year or asked to pay 1000 baht. as a fine. But that’s not all, money used in gambling can also be confiscated.
There are many online casinos where Thai people like to play. This activity is not legal here, but despite this, a huge part of the population still does it. Although government officials occasionally track down these sites and block them with cybersecurity, many remain, and so do players. Note that although there is no direct law against online casinos in Thailand, they are still considered illegal by government officials. Therefore, for safety reasons, do not engage in any other types of gambling except legal ones.
Thailand is a beautiful country.
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