Thailand Calls for Senate Panel on Casino Resorts
In light of new anti-casino protests, the Thailand government will empanel a Senate committee to study the Entertainment Complex Bill.
The review will begin April 23 and could last up to 180 days. According to the Bangkok Post, that could delay progress on the bill until next year and possibly push approvals to 2027.
Casino proponents originally hoped to fast-track the legislation and get resort complexes open by 2029, before the first integrated resort opens in Japan. That timeline now seems nearly impossible.
Brendan Bussmann, gaming analyst and B Global managing partner, says the latest slowdown gives Thailand “an opportunity to settle on a model that provides the maximum investment and a regulatory model that supports that effort.”
According to estimates, a mature Thailand gaming industry could produce gross gaming revenue (GGR) of up to 308 trillion baht (US$9.1 billion) per year. That would make the kingdom the world’s third-largest market after Macau and Las Vegas.
Macau Gaming Slump Could Lead to Budget Deficit
Speaking to the Macau Legislative Assembly on April 14, Chief Executive Sam Hou Fai warned that gross gaming revenue from the casino industry must stay at or above MOP15 billion (US$1.88 billion) or the local government could face a budget shortfall. To meet the annual government forecast of MOP240 billion, it must be MOP20 billion or more per month.
From January through March, GGR rose a scant 0.6 percent year-on-year for a monthly average of MOP19.2 billion.
Sam wants to ramp up efforts to diversify the local economy, “focusing on sectors such as healthcare and finance to build a more sustainable fiscal foundation.”
According to Macau Business, he also wants casino concessionaires to extend their non-gaming investments, including “priority industrial projects,” to nearby Hengqin island.
“The public is paying close attention to what qualifies as non-gaming development,” said Sam. “The government shares this concern and will establish clear criteria for standards, evaluation and assessment.”
Future of Macau Satellites in Question
Macau’s 11 satellite casinos have until the end of the year to switch from the current operational model—revenue-sharing with the city’s gaming concessionaires—to a new model that allows them only to accept a management fee. The pending change puts their survival in question—along with the careers of about 13,500 people.
A source told Macau Business the best-performing satellite generates about MOP200-220 million (US$25-$27.5 million) in gross gaming revenue per month, for a net of just MOP18-30 million. After wages, taxes and other costs, that leaves just 7 percent to 15 percent in profit for owners.
The source said satellites, concessionaires and lawmakers are engaged in a “new round of talks over management fees.”
“If the fees fall below current gross margins, satellite casinos may no longer be viable in the existing market environment,” the source said. “Closures would ripple across the economy, affecting employment, local SMEs (small and medium enterprises) and the city’s financial ecosystem.”
Suntrust: This is the Year for Manila Resort Opening
Suntrust Resort Holdings, the Philippine-listed unit of Hong Kong’s LET Group Holdings, says it will open its Westside City casino resort in Manila in the fourth quarter of 2025. The complex was initially slated to open in 2022.
The $1.1 billion project along Manila Bay will feature a five-star hotel, a spa and wellness center, a 500-capacity ballroom, a 3,000-seat performance hall and ample meeting and convention space. The gaming floor will offer 281 tables, 134 EGMs and more than 1,100 slot machines.
In its 2024 annual report, Suntrust listed factors that could negatively affect Westside City’s future performance. They include “adverse conditions in the business environment [and] economy”; “shortages in the supply and increases in the prices of construction materials”; and potential “difficulties” in securing government approvals, including licensing.
The resort will also face “intense competition” from its neighbors in Manila’s Entertainment City casino zone. The district is already home to Okada Manila, City of Dreams Manila and Solaire Resort.
Timor-Leste Issues First Offshore Gaming License
Timor-Leste is now in the offshore gaming business. Its first provider, Golden River Universe (GRU), has been licensed by the Inspectorate General of Gaming. GRU plans to “transform Timor-Leste into Asia’s Malta—a trusted digital hub for offshore gaming, compliance and innovation.”
Parent company Grand Dragon Lotaria (GD Lotto), also licensed in Cambodia and Nigeria, purports to reach users in more than 10 countries. It disclosed that it will soon move its R&D, customer service and global support departments from Cambodia and the Philippines to Timor-Leste.
In a February filing, the island government announced it is also looking to open its first land-based gaming hall. It signed a deal with Asia-Pacific Strategic Investments Ltd (APS) to establish a $60 million casino and a $20 million bank in the Southeast Asian republic.
