Wynn to Expand in Asia: Plans for a New Integrated Resort in Thailand, Similar to Projects in UAE
Rewritten Article:
For Billings, Thailand's bustling capital Bangkok presents a tantalizing prospect for his upcoming luxury resort. But, as iGB reveals, the operator is keeping a close eye on the country's regulations and licensing requirements.
The land-richThai market promises to be a goldmine for the operator, yet it's still hanging on for the fine print regarding regulations and licensing terms.
In a landmark move earlier this year, Thai legislators greenlit the legalization of land-based casinos as part of integrated resorts. Since then, they've released a roadmap outlining key rules, which includes establishing a nationwide regulator, a Political Committee headed by the Prime Minister to determine policy, and a regulatory framework. Operators will need to shell out a hefty €129 million for a 30-year license, with an additional annual payment of €25.8 billion. The tax rate is set at 17% of GGR, and casinos must share the premises with at least four other entertainment facilities.
At present, the project is in the public consultation stage. Experts predict the first Thai resorts could open as early as 2029.
Elsewhere, the Wynn resort planned for the UAE's Ras Al Khaimah is slated to unveil in 2027, marking the region's first integrated resort. The $3.9 billion project is well underway, with the resort standing 90 meters tall – the emirate's tallest structure to date. Wynn Resorts, buoyed by a rock-solid balance sheet, is powering ahead with this mega-project. In fact, the company pocketed an impressive $1.73 billion in the second quarter of the current year, up 8.6% year-on-year.
On the political front, the legal landscape for casinos in Thailand remains fluid, with ongoing legislative developments. Although Thailand has been making progressive strides towards legalizing casinos within integrated entertainment complexes, Bangkok's specific licensing conditions are still up in the air and subject to change as the legislation unfolds.
Here's what we know so far:
- The draft Entertainment Complex Business Act was approved in March 2025, but its implementation is on hold as the government tackles broader national priorities.
- A three-tiered development strategy, which positions Bangkok for large-scale developments, has been proposed. Smaller projects may be situated in regions like Phuket.
- The entry fee for local punters was initially proposed but was subsequently scrapped, with a three-year tax chosen instead, signaling a shift in regulatory strategies.
- The yet-to-be-finalized regulations will need to comply with national standards and consumer protection guidelines.
In conclusion, although significant strides have been made in the path towards legalizing and regulating casinos in Thailand, the specific licensing conditions for land-based casinos in Bangkok are still an evolving picture, subject to change as the legislation evolves.
Additional readings on sporting.net:
- A new venture fund has invested $20 million in gaming in the UAE
- The first national lottery operator has been selected in the UAE
- What is the current status of the Thai market for luxury resorts, as per Billings' upcoming project in Bangkok? It's a potentially lucrative market, but the operator is closely monitoring the country's regulations and licensing requirements.
- In a significant move, Thai legislators have legalized land-based casinos as part of integrated resorts, releasing a roadmap with key rules. These include a nationwide regulator, a Political Committee, a regulatory framework, and a hefty initial license fee and annual payment.
- The first Thai resorts, as per expert predictions, could open as early as 2029, following the public consultation stage. Meanwhile, the Wynn resort in Ras Al Khaimah, UAE, is scheduled to unveil in 2027, marking the region's first integrated resort.
- However, the specific licensing conditions for land-based casinos in Bangkok, though subject to change, are currently an evolving picture. Details such as entry fees for local punters and compliance with national standards are yet to be finalized.
