Thailand aims to overtake Japan as integrated resort by 2029

Thai authorities are pushing for an ambitious plan to beat Japan and open the integrated resort before 2030, but legal experts warn that the road ahead is paved with legislative complexity and potential delays, as discussed in a panel session of the G2E Asia Conference.

Exploring Legislative Complexity: Prospects and Challenges:

During a roundtable discussion on the final day of the gaming conference in Macau, legal experts dug deep into Thailand’s aspirations and obstacles surrounding the development of the gaming market and integrated resorts (IR).

The conversation underscored Thailand’s fervent desire to emerge as an important contender in gaming and tourism, potentially outperforming Japan in its first casino opening.

Lau Kok Keng, working partner and head of gaming law at Raja & Tan Singapore LLP, explains the current legislative process and the government’s ambitious timeline. According to Asia Gaming Brief, he said, “Thai people are desperate to beat the Japanese who will open their first casinos by 2029, with the goal of outpacing Osaka’s planned opening in 2030.”

While acknowledging the complexity of legislation, Kockeng warned that after approval by the Treasury Department, legislation could typically be carried out over up to a year after public hearings and Senate approval.

The commission also looked at growth in tourism, which IR is expected to be able to boost in Thailand, and the government expects growth of more than 50% if it is established.

But Kok Keng warned that Thailand’s current infrastructure may not be able to effectively accommodate the surge in tourists. He also compared Thailand’s potential IR to Singapore’s existing IR, highlighting differences in regulation and scale.

Lianco’s partner Kwak Jae-woo added complexity by pointing to arguments within the Thai government over the viability of the proposal and potential revenue-sharing concerns.

Feasibility and Economic Impact:

Kwak highlighted the appeal of the proposal for investors, citing a 17% competition rate similar to that of Singapore.

As Thailand explored the hurdles of IR development, the panelists agreed that political decisions and infrastructure development are very important. With proper support, Thailand can establish itself as an important gaming and tourism destination in Asia.

On the contrary, during the Macau conference, some experts expressed skepticism about Thailand’s ability to establish a sustainable and attractive casino industry that is attractive to top international game operators. Despite differing opinions, Thailand’s journey to integrated resorts continues to capture the industry’s attention, and its successes and challenges shape the future landscape of gaming and tourism in the entire region. 바카라사이트 추천