The latest developments in Thailand's push for the legalization of casinos have attracted widespread attention within the Macau industry. Some experts warn that if Thailand successfully establishes an Integrated Resort (IR), it could pose a substantial challenge to Macau's leadership in the Asian gaming market. According to the Macau Daily, this view was repeatedly expressed at a forum jointly organized by the Guan Le Yi Foundation and Macau Business magazine.
Neil Murray, Chairman of Murray International Group, pointed out that Thailand, with its broad appeal to a diverse international tourist base, has advantages over Macau in terms of tourism structure and resilience. He emphasized that Macau's heavy reliance on tourists from mainland China makes it more vulnerable to fluctuations in a single market.
Ben Lee, Managing Partner of gaming consultancy IGamiX, highlighted the massive scale of Thailand's tourism infrastructure. He cited data indicating that Thailand's non-gaming tourism revenue is expected to exceed $47 billion in 2024, with hotel room numbers also surpassing 700,000. He believes that once casino legalization is implemented, Thailand has the potential to quickly become one of the world's largest regulated gaming markets.
José I. Duarte, an analyst at Macau Business, also commented that despite the Macau government's recent efforts to diversify the economy, Macau still primarily focuses on short-term gaming tourism and lacks structural attractions to extend visitors' stays.
Currently, the draft bill for casinos in Thailand has passed the first stage of review by the parliamentary committee and has entered further debate procedures. According to the Bangkok Post, the Thai Senate is accelerating the feasibility review of setting up casinos within new entertainment centers. For this purpose, a special committee has established two subcommittees responsible for assessing the legal and economic impacts of the proposal.
The first subcommittee will study the potential impacts of the project on society, the legal system, the environment, and urban planning, and assess whether it complies with the constitution and national long-term development strategies. This group will also explore whether a national referendum is necessary under Article 77 of the Constitution for this significant policy.
The second subcommittee focuses on the economic dimension, examining the financial viability of the project and assessing whether to incorporate currently illegal online gambling into this industry model, which would require subsequent legislation if adopted.
Both subcommittees are expected to submit their reports by the end of July, allowing the Senate to make a prudent assessment before the bill is formally submitted to the parliament in early July.
The chairman of the special committee, Senator Weerapong Suwanamai, stated that the next meeting will be held on May 15, with the current Prime Minister Prayut Chan-o-cha invited to attend, and hopes that former Prime Ministers like Thaksin Shinawatra will also attend to provide their insights on the issue. Although the Prime Minister may send a representative, the committee still hopes for his personal attendance to emphasize the government's level of commitment.
