Doubts cast over Thailand’s ability to attract world’s largest IR firms

August 25, 2022 Thailand Industry Updates

Industry experts agree that a legalized Thailand casino industry now looks likely to become a reality, but have cast doubts on its ability to implement a regulatory framework strong enough to attract the world’s largest operators.

Despite the likes of Las Vegas Sands and MGM Resorts having expressed interest in the Thai market, Spectrum Gaming Group’s Senior VP Asia, Paul Bromberg, said Wednesday that recent attempts to legislate for medical marijuana – which instead wound up legalizing marijuana use nationwide – showed that government lacked the will to do the hard yards when it came to developing an internationally respectable regulatory system.

“The simple answer is no,” Bromberg told an audience of industry peers at the G2E Asia: Singapore conference when asked whether the Thai government had the will or ability to put in place the sort of regulatory system required for international investment.

“Clearly Thailand needs to find more money, more revenue for the tourism industry, but the bottom line is they are not very good at planning ahead for the long term.

“In terms of regulation, you only need to look at the debacle of the recent legislation around the legalization of marijuana. The basis of that was quite good – legalize it for medical purposes only – but the legislation they sent through was pretty much carte blanche legalization of marijuana across the country and now people are complaining, they are up in arms.