Winna Media CEO Rosalind Wade discusses the historical and political factors in play regarding the opening of integrated casino hotels in Thailand.
Thailand's move towards integrating casinos into large entertainment complexes has long been a topic of speculation and interest. Rosalind Wade, Chief Executive Officer of Winna Media and co-founder of Asia Gaming Brief, provides valuable context for understanding the future of integrated entertainment complexes. In this exclusive interview with ACN (Asia Casino News), Wade shares insights on the political changes in Thailand, the competitive landscape with Macau, the potential impacts on the Philippine gaming industry, and the future of the sector.
Historical and Political Factors in Play
The concept of integrated entertainment complexes in Thailand is not a recent development, yet its realization has faced considerable delays. When asked why she thinks it has taken this long for Thailand to entertain the idea of creating integrated entertainment complexes, Wade points out, "It is not a new idea, but until the previous monarch, King Bhumibol had passed away, it was never going to happen as he was strongly averse to gambling. Now that his son [Maha Vajiralongkorn] is the ruler, there is a more liberal element to society and policies."
Wade emphasizes that Thai politics are notoriously complex, and the road to implementing such regulations remains uncertain. Now that the Thai government has proposed a bill creating massive integrated entertainment complexes, Wade believes that Southeast Asia's second largest economy is on its way to legalizing casinos.
"There appears to be real support for the bill from many quarters and I believe it will happen sooner or later, in which case there will be myriad opportunities for the right groups."
Will Thailand be able to compete with Macau in the future?
When discussing Thailand’s future in the entertainment sector, Wade notes that the market dynamics differ significantly from those in Macau. Macau remains predominantly focused on attracting Chinese tourists and gamblers, a market that continues to be a major driver of its economy. In contrast, Thailand is positioning itself as a premier tourist destination for Southeast Asia, aiming to capitalize on its regional appeal.
Wade points out that while Macau is diversifying its tourism base, Thailand has recently introduced visa-free entry for Chinese travelers and has ambitious plans to enhance its tourism revenue to 3.4 trillion baht ($98 billion). The competition, she suggests, will be centered around capturing tourism and entertainment dollars across the region.
Potential Impact on the Philippine Gaming Industry
Wade also addresses the potential repercussions of Thailand’s new entertainment resorts on the Philippine gaming industry. She suggests that the introduction of casinos in Thailand could have a more substantial impact on the Philippines than on Macau, given that both jurisdictions are well-established in the gaming sector. With Thailand's earliest casinos projected to open around 2029, the Philippines, which boasts a robust local market, might experience shifts in regional dynamics as Thailand develops its entertainment infrastructure.
Advice for Entering the Asian Gaming Market
For companies looking to enter the Asian gaming market in 2025, Wade advises that on-the-ground presence is crucial. She emphasizes the importance of engaging directly with the market and recommends participating in regional events to build brand presence. Attending more intimate, industry-specific gatherings can be particularly beneficial for connecting with key decision-makers and influencers.
The Inaugural Thai Entertainment Complex Summit
Winna Media is spearheading the inaugural Thai Entertainment Complex Summit, scheduled to take place in Bangkok from December 2-4, 2024. Wade outlines the summit's primary goal: to gather government officials and top executives from the property, hospitality, and entertainment sectors. The event will focus on discussing Thailand’s potential as a global entertainment hub, exploring the necessary policies, planning strategies, and partnerships needed to bring integrated resorts to fruition.
Looking ahead, Wade hopes that the Thai Entertainment Complex Summit will become an annual event. For future editions, they will likely add an exhibition for industry suppliers to showcase their technologies.
In December 2024, Winna Media will mount the next edition of the exclusive HOT100, which will take place at a secret location in Thailand. This is an invite-only event whose program and format are designed to enhance relationship-building and relaxed networking amid lush surroundings.
For details, contact Winna Media via https://winnamedia.com/
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