Sands President Says Thailand Needs Clear Casino Framework
Thailand has the potential to be a fascinating, dynamic casino market, according to Las Vegas Sands President and COO Patrick Dumont. However, he emphasized that the Southeast Asian country must take significant action to fulfill its gaming aspirations.
The Sands executive stated earlier this week that Thailand's stumbling casino agenda requires "long-term vision" and strong "regulatory clarity" in an interview with The Nation, one of the nation's most popular media sites.
"Thailand has the ingredients — culture, hospitality, location. But to attract serious investment, you need a framework that gives confidence — regulatory clarity, long-term vision and an unwavering commitment to excellence,” Dumont told The Nation.
Days after legislation to authorize and control gaming in the nation collapsed due to potential regime change, he made those statements. A supporter of the entertainment complex initiative, Prime Minister Paetongtarn Shinawatra, has been suspended after being accused of participating in a pay-for-play scam with a Cambodian official.
Thailand Casino Development Requires Political and Regulatory Clarity
Five locations were suggested by the entertainment complex bill that was circulated early this year: two in Bangkok and one each in Chon Buri, Chiang Mai, and Phuket. However, gaming has been put on hold due to yet another round of political unrest in a nation known for similar occurrences.
Political unrest may jeopardize plans to open casinos in Thailand, one of the most popular destinations in the area. Although some proponents of the entertainment complexes have suggested moving forward with building the venues without the casino element, Dumont stated that this is not practical.
“Trying to build an integrated resort without a casino is like building a hotel without Wi-Fi – it may look attractive, but it lacks what makes it competitive,” he told The Nation. “Meetings, incentives, conventions, and exhibitions (MICE) isn’t just about events – it’s about ecosystems where business, hospitality and entertainment converge. Thailand could absolutely be part of that story, but it needs to move decisively.”
These statements are similar to those made by business leaders regarding possible growth in other countries, such as the US, where they have stated that it is just not profitable to construct hotels and convention centers without a gambling element.
Thailand Could Become a Casino
Thailand is undoubtedly a market with a lot of promise for gaming firms. When it matures, it may rank as the third-largest casino market globally, according to some estimates, but achieving that goal will require strong regulatory frameworks and legislation.
Throughout the Thailand casino controversy, some analysts have called for strict regulations because, given Southeast Asia's reputation as a hotbed of money laundering and human trafficking, a weak regulatory framework could turn off US-based operators.
To far, domestic casino businesses that have shown some interest in Thailand include Sands, Wynn Resorts, and MGM Resorts International, through its MGM China unit.
