MACAU BUSINESS
complexes, saying that gaming taxes would represent more than 50 per cent of current GDP, capturing parts of the global “fun” economy of US$13.7 trillion, with potential annual profits reaching US$15 billion, according to CLSA. The Bangkok Post reported that, “the Finance Ministry has finished drafting the Entertainment Complex Act”, which entailed 30-year licences selling for 5 billion baht (US$154 million) to register with an annual payment of 1 billion baht (US$30 million) with a potential to renew for another ten years.
These events sparked the gambit for the Thai Entertainment Complex Summit. Of course, the truth is no one knows if the existing bill for legalising gambling in Thailand will pass before the current session of the National Assembly (Parliament), which closes out on 12 April 2025.
Nor do attendees or participants from the Thai Entertainment Complex Summit have any idea what will come of a second gaming legalisation bill from the opposition People’s Party, whose Member of Parliament, Chulapong Yukate, dropped a major bit of news at the opening of the summit. This news took everybody by surprise on the morning of 3 December.
Mr Yukate explained how the competing bill to the ruling Pheu Thai Party bill under Prime Minister Paetongtarn Shinawatra would play out. The move is to find common ground between the two bills, hence suggesting a compromise of reading and responses, with leading and opposition parties concurring on some form of gaming legalisation in the 2025 calendar. Mr Yukate said the competing bill could be announced as early as 12 December when the new session of the National Assembly would open. As of press time for this edition of Macau Business, it has not.
Regardless, the emerging consensus among experts is that only five “shopping mall”-like Entertainment Complexes, or Integrated Resorts really, would be allowed to operate. Greater Bangkok could get one or two, with possibly one in the Eastern Economic Zone in Chachoengsao, Chonburi, and Rayong Provinces, with a probability leaning towards Chonburi, said one Thai source familiar with the issue at the government level but not permitted to speak to the press.
Another one would be slated for the island of Phuket in the Andaman Sea and Chiang Mai in the north in the Golden Triangle. The “naughty” city of Pattaya has also been floated, but not too seriously. Even Thailand has limits on sin. With the new season of the popular HBO White Lotus putting the island of Koh Samui in the Gulf of Thailand high on the radar, it is conceivable there could be interest there for an EC.
The same source noted that it is unclear how FEBRUARY 2025 31
many casino licences could be issued inside a single Entertainment Complex, noting that whatever is allowed to happen for businesses outside of Entertainment Complexes in Thailand could happen inside them too. That might mean raunchy Go-Go Bars with live-action shows and high-THC Cannabis Dispensaries, potentially a trifecta of Girls, Ganja, and Gambling—which would freak out US regulators in the Nevada Gaming Control Board and New Jersey Casino Control Commission, and make matters problematic for American operators. Still, despite awaiting legislation to be greenlit, the summit facilitated analysts and industry experts with ample opportunity to network on the ground, survey Thailand better, and calculate potential courses of action. A legion of Macau and Asia casino set-up establishment speakers and participants were present.
MASTERS OF THE GREAT GAME Day one was chaired by Niall Murray, Founder and Chairman of Murray International Group, with his legacy including the MGM and Sands Macau, among others, with presentations across the gaming spectrum. Bolormaa Ganbould Murray, Director of Murray International, with a Macau gaming record going back to the heady 2007 of the Macau casino boom, also presented in-depth understandings of Thai present and future trends in eco-tourism, new destinations, and MICE.
Ben Lee, Managing Partner of IGamiX Management and Consulting, presented powerfully with insight and set the tone by saying Thailand would give Macau and Las Vegas serious runs for their money if they legalise. This comment caused a lot of sideline and later cocktail talk excitement. No one disagreed.
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