The diverse nature of Thailand’s Integrated Resorts is expected to draw tourists and gaming enthusiasts from countries such as China, India, and Russia.
The diverse nature of Thailand’s proposed Integrated Resorts (IRs) is expected to draw more visitors from heavily-populated countries “that have gaming or have a penchant for gaming,” according to iGaming experts.
Largely populated countries such as China, India, and Russia have distinct markets that will make them want to gamble in Thailand, on top of Thailand’s foothold as a tourism giant in Southeast Asia. Experts pointed this out during a December 3, 2024 session of the Thai Entertainment Complex Summit. As the lead media partner of this Summit, Asia Casino News (ACN) attended this event which is ongoing until December 4.
“I don't think Thailand will actually attract any more new visitor countries, because it already has a huge swath of countries to draw from. What's interesting is that I think that it will draw more so from those countries that have gaming, or that have a penchant for gaming,” Ben Lee, managing partner of IGamiX Management and Consulting Ltd, shared at a panel discussion held at the Bangkok Marriott Hotel in Thailand.
Lilly Choi-Lee, TravConsult co-founder, said the distinct features of Thailand’s prospective integrated resorts will make it stand out from neighboring countries, especially from China, which boasts a large player-base.
“For that Chinese person, the icing on the cake will be the ability to go not only to the cultural heritage sites that are genuine and authentic, but go to an integrated resort to have the excitement of gaming,” Cohen-Lee shared.
For Jeffrey Kiang, analyst at brokerage CLSA Ltd., Thailand's appeal to tourists is diverse, encompassing nature, sports and leisure activities. Rather than solely focusing on attracting new visitors, he suggests that the country should prioritize encouraging repeat visits from its existing broad customer base by offering the right experiences and services. He believes this will give a distinct flavor to Thailand’s own IRs, should the proposal be approved.
“I think the purpose of people coming to Thailand is very diverse. You have people coming for the nature, you have people coming for the Muay Thai camp, and you have people coming for really enjoying the cuisine and having some fun time here as well,” Kiang said.
“So I think it probably is more about attracting from repeated visitation, but in terms of the broadly customer base or traveler base, I think Thailand is already very broad already. We just need the right offering to keep these people coming to this part of the border,” he added.
Tourists from China and India have the potential to become “long-term” visitors to Thailand’s casinos and its entertainment complexes, citing the drive for Gen Z’s and Millennials to travel.
“They're already traveling. They are going to be the future money, the ones with the money, and for India as well. And then your two large markets as well,” Lee-Cohen said.
Aside from China and India, the resource persons expect Thailand’s casinos to draw visitors from Malaysia, South Korea, and Russia.
“Malaysia, because they're a monopoly. It's Malaysia that has been feeding the two IRs, Resorts World Sentosa and Marina Bay Sands, in Singapore very strongly. Maybe not in terms of the top level, but certainly in terms of what we call the uncles and aunties. “South Korea is another very strong country for gaming. Their gaming make-ups are very different. They're the middle class, not the top, not the bottom, but the middle professional class: very different demographics,” Lee said.
“Now for the Russians, casinos are a great way to launder money, so we can expect them here. They stopped going to Cyprus for various reasons, so they're looking for a new destination,” Lee said.
Trevor Lee, co-founder of TravConsult, added that affluent travelers from Asian countries like China, India, Korea, and Japan still seek out extravagant experiences. They desire destinations with a “wow factor,” such as integrated entertainment complexes. For instance, a new complex in Bangkok would allow visitors to boast about having experienced world-class service, gaming, luxury shopping, and fine dining.
“The Asian markets of China, India, and even Korea and Japan, those in the affluent, sophisticated level of travel still want a brag factor when they travel, and the integrated entertainment complex, a new one. Let's say, for example, in Bangkok here, they want to say ‘I've been there, I've been there. When it opened in that first year and I experienced this fantastic level of service, I dabbled in the gaming area, but the luxury shopping was divine and the quality of food and beverage, you have to go.’ Brag factor amongst the Indian affluent and the Chinese affluent still exists, it's very strong,” Cohen said.
The summit comes at the heels of the Thailand government’s proposals to build casinos nestled in Integrated Resorts, a move which Thailand hopes can increase its revenue further. These complexes are envisioned as multi-faceted destinations that combine luxury hotels, world-class shopping, fine dining, and state-of-the-art entertainment facilities, including casinos. The government believes that these entertainment complexes will not only attract high-spending tourists but also generate significant revenue and create jobs.
Experts estimated that these establishments will increase visitation by 5 to 20 percent, and increase tourism spending per capita - or the capacity of a tourist to spend - by “50 percent.”
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