Is Singapore getting uneasy about Thailand legalising casino resorts?
Source says Las Vegas Sands is being dissuaded from investing
Singapore could be uneasy after Thailand passed the entertainment complex bill, legalising building casino resorts in the kingdom, and is reportedly lobbying a foreign firm against investing in the project in Thailand, a high-ranking source told Thansettakij newspaper on Thursday.
The Cabinet on Monday approved the draft Entertainment Complex Business Act in principle, paving the way for legal casinos in Thailand, to generate additional tax revenue as well as boost the tourism industry.
According to Prime Minister’s secretary-general Prommin Lertsuridej, six unnamed multinational corporations with experience in managing casinos have expressed interest in investing in casino complexes in the kingdom.
The source on Thursday revealed the six companies as Las Vegas Sands, Wynn Resorts, Caesars Entertainment, MGM China Holdings Limited, Hard Rock Café, and Melco Resorts & Entertainment.
The interest shown by Las Vegas Sands could raise fears of competition in Singapore, where the US-based gaming and resort corporation has invested in the Marina Bay Sands resort casino, the source said.
He speculated that the Singapore government could be persuading Las Vegas Sands not to invest in Thailand, as having two similar casinos close to each other would result in the Singaporean casino losing clients to Thai competitors.
"Thailand has higher potential than Singapore in many aspects, particularly in terms of large event venues that can accommodate tens of thousands of people, while Singapore faces space limitations. Additionally, Thailand has hotels and facilities that are ready to cater to premium tourists,” the source pointed out.
He added that despite these advantages, foreign investors still have concerns about several issues in Thailand, especially regarding the establishment of a regulatory body to issue licences and determining the location of the projects. This could lead to transparency issues and potential conflicts of interest, he warned.
“To ensure the success of the project, the government should study regulatory models from abroad, such as Las Vegas, which has a strict control system and effective measures to prevent money laundering and illegal gambling,” he said.
It is estimated that the draft of the Entertainment Complex Business Act would be discussed in Parliament in May this year, and the law would be enacted within the first quarter of 2026.
The feasibility study would also begin in 2026, followed by a bidding process and construction in 2027, with completion expected in 3-4 years.
