In Which Countries Casino Is Legal
In Which Countries Casino Is Legal – As Thailand pulls out all the stops to attract tourists, it seems clear that pre-pandemic Southeast Asia’s No. 1 tourism destination will lose out if its neighbors don’t roll the dice.
If you want to see a copybook example, it would be Thailand. In an effort to bring back tourists after the Covid-19 hiatus, the country recently decriminalized cannabis and is now trying to reopen casinos.
In Which Countries Casino Is Legal
A recommendation in the Thai parliament last month called for the government to allow the construction of “entertainment complexes” with legal casinos in major cities across the country.
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As Southeast Asia expects a large influx of tourism infrastructure investment over the next few years, especially in growth markets with the greatest potential, such as Indonesia and Vietnam, Thailand may feel the fear of missing out, noted Gary Bowerman. , director of Check-In Asia, an Asia-focused travel intelligence and research firm.
Thailand wants to show it can diversify its travel and tourism sector to attract new investors, Bowerman said. “Fierce competition is shaping up to attract investors and tourists to help rebuild economies across the region. It will be a central part of the region’s economic story for years to come.
The integrated resort market is already growing in Asia, bringing together hotels, casinos, convention facilities, dining, entertainment, luxury retail and themed attractions.
Japan is developing integrated resorts in the region along with regional market leaders such as Macau, Singapore, Cambodia, Vietnam, Philippines, South Korea and Malaysia.
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With Macau, Asia’s casino capital still wary of bringing in tourists following China’s strict zero-covid policy, other Asian destinations now have the opportunity to attract these tourists.
Integrated casino resorts can be a great tool for tourism, as long as it’s seen as an aid, not a cause, said Alan Voynsky, CEO of Gaming USA Corp.
Singapore, with only two integrated resorts – Marina Bay Sands, which caters more for business and Resorts World Sentosa, and focuses more on tourism/leisure – could be a great example of how to do things right, as South Korea and Vietnam do. The wrong way to do it, Voynski said.
“Vietnam forces developers to spend $2 billion on resorts and does not allow locals to gamble. Their locations are also chosen to generate tourism. South Korea only allows foreigners to gamble. Both countries have seen nothing but losses from these resorts.
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Voynsky noted Macau’s success in this segment, saying, “Macau’s biggest feeder market in the world is China. Unfortunately, it’s completely blown up in their face right now.”
Thailand may be banking on its popularity with Chinese tourists, but Chinese travelers come to Thailand for different reasons, and it is not certain that these resorts can attract the significant junket market that supports Macau’s casino sector, Bowerman noted.
Bringing an integrated resort to a destination is a long-term game and involves huge capital investment. A panel of Thai lawmakers has now called for amendments to Thailand’s Gambling Act 1935, which bans most forms of betting but allows the government to issue orders or licenses to certain gaming operations and venues.
“Operating more facilities will collect $11 billion in tax revenue annually,” said Pichet Chuamuangfan, the panel’s vice president.
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The tender and licensing process will be conducted after the law is amended, after which investors and franchisees need to be protected. Master planning and approvals need to be done, and then construction, fit-out and staffing will follow, Bowerman explained.
“Japan, which revised its casino gaming laws six years ago, is a good example of how long and complicated these processes can be,” he said.
The Casino Committee of Thailand has indicated that it is possible to establish five casino resorts across the country. The proposed 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, and Greater Bangkok in the northeast.
Five resorts might be a bit much for Thailand, but they have the right idea when it comes to locations, Voynski said. “In one city – Bangkok, and the rest in more tourist-focused places, spread across the country.”
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MGM Resorts cited Thailand as a market of interest in a recent earnings conference call.
Sumita Surian, executive director of the Phuket Hotels Association, said Phuket would be a strong candidate for legal casinos because of its significant tourism support system.
“Coupling gaming with world-class branded tourism attractions is a powerful draw card. Additionally, local taxes on gaming can inject much-needed infrastructure funds into the island’s economy. I am advocating for an integrated resort and not just a stand-alone casino,” Suryan said.
Voynsky suggested that integrated resorts in Thailand could be a huge success, warning, “It really depends on how the Thais feel. The Japanese have made it clear that they want nothing to do with integrated resorts. Local opposition and Japan’s ridiculously high investment standards resulted in only two offers, while there were early signs of more than 30 bidders.
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As Asia’s integrated resort industry has been affected by Covid-19, the question has also been raised whether investors are eager to enter the new market, even though Thailand is the most visited country in Southeast Asia.
The casino gaming and integrated resort market carries greater risk from the outset because it will take time to recover, Bowerman explained. “Entering an integrated resort market provides no insurance against future contagion.”
Woynskyi would like to see Thailand adopt the Singapore model of two or three resorts. “They seem to be doing something between Singapore and the Philippines. Both are successful and will be one of the few good opportunities left in the global casino business.
However, it all depends on what the final standards and tax rates will be, as Voynskyi noted, which has devastated many such as Japan, Spain and Greece. “If they are fair like Singapore, it will be very successful. But being hostile and unrealistic like Japan will not work,” he said.
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Asia’s high-end integrated resorts typically generate strong meetings and events revenue, and Thailand could benefit by joining the party. But Bowerman offers a word of caution: As the market still recovers, will it weaken the existing local market?
Photo credit: Asia’s high-end integrated resorts typically generate strong meetings and events revenue. Stefan Schweihofer / pixabay A new analysis found that 25 out of 29 European countries have introduced a multi-licensing model to regulate online gambling, but some monopolies still remain.
Regulation of online gambling has evolved rapidly in Europe. Until ten years ago most European countries had no dedicated regulation of online gambling or only allowed state-owned online gambling monopolies. But today the situation has changed radically. The multi-licensing model – which allows private and publicly owned companies to be licensed to offer online gambling in one country – has become Europe’s clear and preferred basis for regulating online gambling.
“It is encouraging that most European countries have now moved towards multi-license regulation for all online gambling products, recognizing that this is the most effective model for online gambling regulation. Despite this progress, it is noteworthy that some countries, notably Finland and Norway. , is still far behind the rest of Europe and clings to the old online gambling monopoly. .Evidence shows us that online gambling monopolies are ineffective and reduce consumer choice, making unlicensed websites more attractive. Unlike monopolies, the benefits of full multi-licensing are clear. are: better protection for consumers, more tax revenue for the state, and better control for regulators in their online gambling markets. Most European countries already recognize this – when else?
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[1] In 2009, only 7 countries (Croatia, Czech Republic, Estonia, Italy, Latvia, Malta, UK) had multi-licensing regulations for online gambling.
[2] Analysis of 29 European countries with knowledge of online gambling licensing regulations regarding sports betting, casino gaming, poker and bingo products. This analysis is for informational purposes only and its contents are provided on an as-available basis. No liability is accepted for any incorrect, incomplete and/or outdated information. The results of the analysis and the accompanying review map do not imply approval of the relevant national regulations or that the regulations are in compliance with EU law.
The European Gaming and Betting Association () is a Brussels-based trade association representing the leading online gaming and betting operators established, licensed and regulated within the EU, including Bet365, Betsson Group, Entain, Flutter, Kindred Group and William Hill. Working with national and EU regulatory authorities and other stakeholders towards a well-regulated and well-channelled online gambling market that delivers at a high level.
