MGM Boss: Thailand Could Open Casino Bids in 2026
On March 13, on a J.P. Morgan gaming and hospitality webcast, MGM Resorts CEO Bill Hornbuckle said Thailand’s controversial Entertainment Complex Bill won’t be approved quickly, but “doesn’t need to take as long as Japan.” The Japanese Diet approved legal casinos in 2018 but didn’t grant its first and only license until 2023. MGM Osaka is expected to open in 2030.
Hornbuckle said there will be “real legislation” in Thailand “by the first or second quarter of 2026.” He called Thailand “an amazing marketplace” that would be “cheap to build—35 cents to 40 cents on the dollar—and even cheaper to operate.
“So if you were lucky enough to get a license and build something of substance, it’s a meaningful market. And I think the margin in that business would be pretty extensive.”
Estimated gross gaming revenue (GGR) of up to 308 trillion baht (US$9.1 billion) per year would make Thailand the world’s third-largest market after Macau and Las Vegas.
On March 13, lawmakers announced the selection of four casino host sites: Bangkok, Chiang Mai, Phuket and Chonburi.
Philippines Online Gaming Boosted GGR by 25 Percent in 2024
Despite the loss of Philippine Offshore Gaming Operations, which were banned in July 2024, the industry reaped gross gaming revenue (GGR) of PHP410 billion (US$7.16 billion), well ahead of PHP329 billion in 2023. This represents a new annual record for the Philippines.
Alejandro Tengco, chairman and CEO of the Philippine Amusement and Gaming Corp. (PAGCOR) announced the news during a keynote address at this year’s ASEAN Gaming Summit.
Tengco credited the growth to a surge in the iGaming sector, which saw a year-on-year increase of 165 percent to PHP154.51 billion, another new record.
China Stimulus Welcome News for Macau
Beijing continues to implement stimulus measures to lift the drooping economy on the mainland and in two special administrative regions (SARs), Hong Kong and Macau.
According to Seaport Research Partners, the plan outlined at a recent government briefing emphasizes “income growth amid U.S. tariffs, building on September’s stimulus and property market support.” Collectively, they should “lift consumer confidence and demand” and buoy Macau in the medium term.
Seaport analyst Vitaly Umansky projects 6.7 percent GGR growth for 2025, with mass growing 7 percent. Investment firm Jefferies, which last year forecast yearly GGR of MOP245 billion, recently trimmed that GGR by 2 percent, to MOP240 billion. But that’s still up 5.8 percent year-on-year and in line with conservative government projections.
Marina Bay Sands Hits 500M Visitors
Marina Bay Sands (MBS), one of two multibillion-dollar integrated resorts (IRs) in Singapore, has officially welcomed its 500 millionth visitor.
The Moshe Safdie-designed IR, with a dramatic profile that defines the Singapore skyline, opened in 2010. It recently underwent a $1.75 billion renovation, part of a total $9 billion upgrade mandated by its concession with the city.
In a social media post, MBS said the “landmark occasion” reflects its “efforts to transform the property and redefine guest experiences, ensuring that visitors enjoy a unique and memorable stay.” It added that “over 1.2 million” delegates had attended meetings, incentives, conferences and exhibitions held onsite in 2024.
MBS is a Las Vegas Sands resort. Its sole competitor in the market, Resorts World Sentosa (RWS), a Genting Singapore property, is undergoing a $6.8 billion redevelopment.
Philippines Mogul Villar Dispenses with Casino Partner
Philippine tycoon Manny Villar, who is building two casino resorts in Las Piñas, Metro Manila, has severed ties with Dowinn Group, his original partner in the venture. In its LinkedIn profile, the Korea-based firm said it is expanding beyond junket and casino operations to integrated resort developments.
InsiderPH reports that Villar, the country’s richest man, recently disclosed that there is “no more partner, it’s just us” in the planned $1 billion project.
Last year, the Philippine Star reported that the first of the two casinos would open on a redeveloped 4.5-acre mall close to the luxury Brittany Hotel, also owned by Villar. The second casino will be located inside Villar City, a new master-planned mixed-use community spanning 15 towns and cities in Metro Manila and Cavite.
Villar won a casino license during the term of Rodrigo Duterte, who was president from 2016 to 2022.
