Thailand’s casino industry faces uncertainty as investor interest wanes over high costs, public skepticism, and anti-casino protests. (Image: Sipa US / Alamy)
After all the hype over Thailand’s venture into gambling and land-based casinos, there has been a muted response to the potential of a legal casino industry, with only six major international operators anticipated to apply for licences—fewer than initially expected.
The disappointing news comes as a result of research from Inside Asian Gaming (IAG), which reported that interest has dwindled among 15 operators surveyed. Serious contenders include three from Macau, two from the U.S., and one from another Asian country.
While Prime Minister Paetongtarn Shinawatra argues against illegal casinos and insists they only benefit the black market, full legalisation is still facing hurdles.
Low Uptake Expected Due to Japan’s Costly, Strict Casino Licensing
Some of the contributing factors to the predicted reluctance and low uptake include the ongoing focus on existing operations and previous experiences in Japan’s casino licensing, which faced high costs and strict regulations.
The numbers are not finite, and the number of bidders may change based on pending legislative details approved by the king and how Thailand’s regulatory framework compares to Nevada’s standards for international gaming.
Surveys and Polls Will Be Scrutinised by Investors
Investors may be cautious, and polls and surveys will be scrutinised, including a recent Nida Poll, which revealed widespread public anxiety over the government’s proposal for casino-entertainment complexes.
Most Thais expressed doubts about the economic benefits and feared increased vice and gambling addiction.
The survey, conducted between 18 and 20 March, found:
- 32.6% worried about societal vice and national security threats.
- 30.2% questioned the claimed economic benefits.
- 28.1% raised concerns over gambling addiction prevention.
- 24.9% were uneasy about anti-money laundering measures.
Additional concerns included the potential for criminal activity, the effectiveness of curbing illegal gambling, and the lack of a public referendum. The Bangkok Post writes that the poll also highlighted fears of social and political conflicts, with 31.8% predicting violent clashes over the issue.
Public Concern Over Rise in Crime and Money Laundering
Although authorities are tightening measures against money laundering activities worldwide, concerns remain over the risks of money laundering, the potential for casinos to become havens for criminals, and doubts about government measures to address social impacts.
Nearly 32% of respondents believe the casino project could create political or social conflict, with significant scepticism regarding the lack of a public referendum and the adequacy of government studies on the project’s feasibility.
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