Past, Present and a Very Bright Future By Shaun McCamley
Thailand has a long history of cultural appreciation for gambling, despite strict laws prohibiting most forms of wagering. Over the years, the land-based and online casino industries have undergone significant changes driven by legal, economic, and technological shifts. Although Thailand has yet to establish legal casinos, the ongoing push for legalization and licensing by the current government, coupled with the swift rise of online gambling, suggests that the industry is undergoing significant changes. This article delves into the past, present, and potential future of land-based and online casinos in Thailand.
The past: A gambling culture without casinos
Historically, gambling has been a prevalent aspect of Thai culture. Traditional betting activities, such as cockfighting and card games, have been ingrained in Thai society for centuries. During the reign of King Rama III (1824–1851), gambling was legalized to generate state revenue. However, rampant addiction and social issues led to the closure of official gambling houses by the early 20th century.
The Gambling Act of 1935 was enacted to restrict gambling, allowing only government-run lotteries, as well as horse racing at the Royal Bangkok Sports Club. Despite these laws, underground casinos thrived in cities like Bangkok and Pattaya, often protected by organized crime and corrupt officials. This created a dual gambling economy in Thailand, where prohibited activities were widely practiced.
In the past, proposals to legalize land-based casinos have faced resistance due to concerns about crime and addiction. Still, the success of legal casinos in neighboring countries continues to fuel and move legalization forward in Thailand.
The present: A booming but unregulated online casino market
While land-based casinos remain illegal in Thailand, the digital revolution has opened the doors to an alternative: online gambling. The rapid advancement of Internet connectivity, smartphone accessibility and digital payment systems has fueled a thriving online casino industry, albeit in a legal grey area.
The rise of online casinos
Thai players can access international, online casinos offering various games, including slots, poker and sports betting. Many operate from countries where online gambling is legal, complicating enforcement for Thai authorities. Despite its illegal status, online gambling is rising in Thailand, with millions participating and the industry generating billions of baht annually. The government has attempted to block these sites but new ones keep emerging.
The rise of social gaming and its impact on the casino industry
Social gaming has gained immense popularity in recent years; this is particularly so in Thailand, where gambling regulations remain strict. The social gaming market in Thailand has experienced significant growth in recent years. In 2021, the Thai games market generated over $1 billion, a substantial increase from previous years. This growth trajectory is expected to continue, with projections indicating that the gaming industry revenue will reach approximately $2.4 billion by 2025, reflecting a compound annual growth rate (CAGR) of 7.1 percent from 2025 to 2029.
Games that simulate casino-style experiences — such as poker, slots and blackjack — allow players to engage in gambling-like activities without real-money stakes. These games attract millions of players worldwide, including in Thailand, where 250 percent year-over-year growth has been reported.
For casino operators, social gaming presents an opportunity to engage a wider audience, particularly younger demographics who are more inclined toward digital and mobile entertainment. By offering social casino games to their player databases, operators can:
Enhance brand loyalty
Social games provide an entertaining and risk-free way for players to engage with casino brands.
Monetize virtual goods
Social casino platforms generate revenue through in-game purchases, virtual chips and premium content.
Gather valuable data
Player behavior insights from social gaming can help casinos tailor marketing campaigns and improve their real-money offerings.
The economic and social implications of online gambling
The online casino industry offers both opportunities and challenges. It provides entertainment. It creates digital marketing, customer service and IT security jobs. However, the lack of regulation exposes players to fraud and addiction, with many Thais victimized by unlicensed sites, and lacking legal recourse. Some Thai policymakers have suggested regulatory frameworks similar to those in the Philippines and the UK, but progress is hindered by opposition from religious groups and conservative lawmakers
The latest update on land-based casino legalization
As of 2025, the Thai government, under the leadership of Prime Minister Srettha Thavisin, has identified four potential locations for integrated casino resorts as part of its broader push for legalization. These locations include …
Bangkok
The capital city, known for its tourism and business appeal, is considered a prime location for an entertainment complex.
Pattaya (Chon Buri)
This is a major tourist destination with a vibrant nightlife scene, making it an ideal candidate for a casino resort.
Phuket
Thailand’s premier island destination, popular among international tourists, could benefit from a high-end casino resort.
Chiang Mai
The northern city, famous for its cultural and historical attractions, is being considered in order to boost regional tourism.
A tourism boost and regional appeal
One key motivation for legalizing casinos is to enhance tourism spending and arrivals. Officials anticipate that integrated resorts could increase foreign tourist visits by five to 10 percent annually, translating to an additional two to four million tourists annually, based on 2019 figures. The Finance Ministry projects that this surge will lead to a 13 percent rise in tourism revenue, especially during low seasons.
Tourists drawn by casinos are expected to stay longer and spend significantly more. Studies suggest that average spending could increase by 52 percent, amounting to approximately 411 billion baht ($12 billion) in additional tourism receipts. Successful case studies in the region support this trend; for instance, Singapore saw a 20 percent rise in visitor arrivals following the opening of its major resorts.
Per the latest draft bill, Thailand's planned resorts will be located in popular tourist areas like Bangkok, Phuket and Pattaya, enhancing their appeal. The goal is to create comprehensive destinations where casinos are just one aspect of a broader entertainment experience, promoting a family-friendly environment. If implemented effectively, these resorts could significantly boost Thailand’s tourism landscape for years to come.
Job creation and investment benefits
Legal casino resorts are also touted for their potential to create jobs and spur investment. Both government sources and industry experts predict substantial employment gains from the five proposed casinos.
The Thai Finance Ministry expects to create 20,000 jobs for Thai citizens. These jobs would span construction, hospitality, gaming operations, retail and various support services. Each resort complex is massive – with 5,000-plus hotel rooms, as well as convention centers, malls and entertainment venues, requiring thousands of workers to build and run.
On the investment side, legalizing casinos is seen as a way to draw billions in foreign and domestic capital. Analysts estimate that $10 billion-plus in investment could flow into Thailand to develop these resorts.
The proposed investment would finance resort construction, boost related sectors (real estate, banking, infrastructure) and generate construction jobs, potentially increasing GDP by 0.2 percent. It could also recapture revenue lost to illegal or overseas gambling, as many Thais currently visit casinos in neighboring countries. Legalizing casinos in Thailand could keep those funds in the country, enhancing tax revenues and offering safer, regulated gambling options for Thai players. Advocates believe this might transform underground gambling into taxable income.
Potential revenues from Thailand’s four proposed casino resorts
These projects are envisioned as large-scale destinations, with casinos comprising only a tiny portion of the facilities (around five to 10 percent of the floor area) . Each complex would feature hotels, convention centers, arenas, theme parks, dining and retail venues – similar to integrated resorts in Singapore, Macao and Las Vegas.
Projected gaming revenues and economic impact
Government estimates anticipate that a domestic casino industry could significantly boost Thailand’s economy. The Finance Ministry projects that the entertainment complex plan will add about 0.7 percent to the national GDP once fully operational.
In monetary terms, this implies roughly 187 billion baht in annual gross gaming revenue – about one percent of GDP, in line with other analyses.For context, 187 billion baht equals approximately $5 billion to $5.5 billion per year in gaming revenue. Officials also expect around 100 billion baht ($3 billion) in upfront investment from developers to build these resorts.
Industry analysts believe Thailand's gaming market could be highly lucrative, with projections ranging from $1.5 billion to $9.1 billion in annual gaming revenue. These numbers would position Thailand as the world’s number-three gambling destination behind Macao and Las Vegas.
These revenue projections assume all five resorts are running at scale with intense tourist and local patronage. By comparison, Singapore’s two casinos generated about $3.8 billion to $4 billion in recent years , so $9 billion would firmly place Thailand among the global gaming heavyweights.
It’s worth noting that Thailand’s large population and tourist base underpin these forecasts. The country has a vast potential customer pool with 70 million residents (many of whom already gamble underground or abroad) and pre-pandemic foreign visitors nearing 40 million annually. Analysts believe Thailand could “eclipse Singapore’s glitzy casinos” by drawing major international operators and leveraging the kingdom’s tourism appeal.
These optimistic outcomes hinge on solid regulation, transparency and a competitive bidding process. Clear rules and transparency are essential to unlock the full revenue potential. Unfortunately, there is considerable concern among the large international operators that this is not happening and could even jeopardize their willingness to participate in the licensing process.
The major casino companies expressing interest
Las Vegas Sands
Las Vegas Sands, a prominent, U.S.-based casino developer, is actively engaging with Thai officials and has expressed significant interest in establishing an integrated resort in Thailand. Rob Goldstein, the CEO of Sands, described Thailand as a “very, very exciting market” for the company, highlighting its large population, excellent accessibility and its reputation as “the number one resort destination city in Asia.” He mentioned that, if the process unfolds smoothly, a casino resort in Thailand could potentially open by 2029, possibly ahead of Japan’s first casino, which is expected to debut in 2030.
Wynn Resorts
Wynn Resorts has announced its intention to pursue a casino license in Thailand, with a particular focus on Bangkok. In mid-2024, CEO Craig Billings emphasized that Wynn is “active on the ground” in Thailand and sees Bangkok as a promising location for an integrated resort. He voiced optimism about the ongoing progress toward legalization in Thailand, describing the market as “very attractive” due to its robust tourism infrastructure and strong service culture.
MGM Resorts (via MGM China)
MGM Resorts International has expressed its intention to pursue a gaming license in Thailand through its Asian subsidiary, MGM China. Company executives have been exploring the potential of the Thai market for quite some time. MGM views Thailand as a logical extension of its operations in Asia and has been actively “keeping an eye on the market” alongside other concessionaires from Macao. Importantly, MGM's leadership has indicated that any bid in Thailand would be channeled through MGM China, which is partly owned by Pansy Ho of Macao, allowing the company to leverage its regional expertise.
Galaxy Entertainment Group
Macau’s Galaxy Entertainment Group is actively preparing to bid for a license to develop an integrated resort in Thailand. The company has made it clear that it plans to concentrate solely on Bangkok, which it sees as the top choice for a resort, despite the possibility of five nationwide licenses. Executives believe that Bangkok, recognized as a premier global tourist destination, presents the best prospect for securing a strong return on investment. If Galaxy enters the Thai market, its extensive experience with the Asia-Pacific VIP and mass-market gambler segments could greatly enhance the competitiveness of Thailand’s casinos within the region.
Melco Resorts & Entertainment
Melco Resorts & Entertainment, a major player based in Macao, has emerged as one of the most proactive contenders for a gaming license in Thailand. The company publicly expressed its interest, and even opened an office in Bangkok in late 2023 to begin assembling a team and exploring development prospects. This step underscores Melco’s serious commitment to obtaining a Thai-integrated resort license. CEO Lawrence Ho has described the opportunity in Thailand as a “once-in-a-century” chance, highlighting that the company is preparing to propose a large-scale, luxury integrated resort in what is expected to be the best location: Bangkok.
Genting Group (Genting Singapore & Genting Malaysia)
The Genting Group, a Malaysian conglomerate with a strong global presence in the casino industry, has shown a clear interest in expanding into Thailand. Both of its subsidiaries in Singapore and Malaysia are keenly watching this emerging market. In 2024, Genting Singapore, which operates the casino resort on Sentosa Island, announced its intention to bid for a casino license in Thailand. Following this, in early 2025, management from Genting Malaysia noted that they “may pursue a separate bid for a Thai casino license apart from their sister company, Genting Singapore.”
Hard Rock International
Hard Rock International is positioning itself as a serious contender for a Thai casino license. The company has engaged with local authorities and partners, expressing a commitment to meet Thailand’s requirements, including local incorporation and significant investment. They are particularly interested in developing an entertainment-focused resort that reflects their music and pop-culture theme, with Phuket identified as a potential location. Hard Rock’s Asia president, Edward Tracy, mentioned that studies indicate Phuket could support a $1.5 billion to $2.5 billion investment, suggesting a preference for non-Bangkok licenses to integrate casinos with beach tourism or conventions .
In summary
The interest shown by elite casino companies highlights the nation’s potential as Asia’s next major gaming and entertainment destination. Their proposals, which involve billions of dollars in investment, aim to create modern complexes that go beyond mere casinos, perfectly aligning with Thailand’s vision for diverse entertainment hubs.
In light of the rapid growth of online gaming, the government has a significant opportunity to legalize offshore gaming sites, supported by various persuasive arguments articulated by industry experts. If these plans come to life, Thailand could experience a significant boost in tourism revenue, job creation and foreign investment. The gaming market is likely to evolve into one of the largest in the region, fostering new competition that can benefit consumers and drive innovation, all while encouraging regulators to remain alert.
Nevertheless, several challenges must be addressed, ranging from the passage of necessary legislation to the consideration of social impacts. To fully capitalize on this once-in-a-lifetime opportunity, it is essential for the government to seek counsel from – and actively engage with – experienced global stakeholders. Should this approach be adopted, Thailand’s entry into the casino-gaming sector has the potential to serve as a transformative milestone. In the coming years, Thailand could emerge as a prominent contender in the international casino resort industry, alongside renowned destinations such as Macao, Singapore and Las Vegas.
***This exclusive feature interview was originally published in Casino Life Magazines April 2025 edition Issue 176***
