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Las Vegas Sands CEO Rob Goldstein has once again confirmed the company’s interest in Thailand, responding to inquiries from investment bank analysts regarding the company’s 1Q24 results.
He notes that opening a casino in Thailand could happen quicker than in Japan. Some analysts point out that the first casino in Thailand could open in 2029, ahead of MGM Osaka in Japan, scheduled to open in 2030.
“I think it’s conceivable. It’s early days, though we still have work to do with the numbers and understanding it,” Goldstein remarked.
“It’s a very, very exciting market on many levels, given the sheer size of the population, accessibility, and the willingness of people to travel to Thailand. It’s obviously, I think, the number one resort destination city in Asia,” he added.
In June last year, Bloomberg, citing sources, reported that gaming operators MGM Resorts International and Galaxy Entertainment Group are studying the potential of opening a casino in Thailand.
Additionally, the investment bank headquartered in Kuala Lumpur, Maybank, said that Genting Singapore may bid for the Thai land casino license.
The Thai government’s proposal to tax gross gaming revenue (GGR) at a relatively low rate (17 percent), combined with plans for extensive industry development, signals a welcoming environment for investors.
