Bloomberry Resorts Corp, renowned for its flagship properties Solaire Resort Entertainment City and the newly opened Solaire Resort North in Manila, refutes claims regarding its purported plans for an integrated resort development in Thailand. Despite speculation fueled by recent legislative moves in Thailand towards legalizing casino gaming, Bloomberry maintains a stance of non-commitment to such endeavors.
Current Situation and Speculation:
The denial follows assertions made by local media suggesting Bloomberry’s interest in establishing a resort casino in Thailand. While acknowledging potential interest in future expansions, the company critiques such assertions as speculative. Thailand’s deliberations on gaming laws, including recent endorsement by the cabinet for integrated resorts, have fueled market speculation regarding potential investments by international gaming leaders.
Government Stance and Potential Developments:
Thailand’s legislative advancements towards legalizing casino gaming have garnered attention, with a House Committee recommending legalization and the cabinet endorsing the initiative. Proposed regulations suggest joint investments between the government and private operators, potentially following a concession model akin to Macau. Moreover, the suggested proximity of integrated resorts to international airports underscores a strategic approach to cater to international visitors. Notably, these resorts are proposed to limit gaming areas to 5% of the total project space.
Industry Insights and Forecast:
Analysts speculate on the timeline for Thailand’s potential entry into legal casino gaming, with projections suggesting the inauguration of the first integrated resorts as early as 2029. Such a development could position Thailand ahead of Japan in realizing legal casino gaming, where ongoing projects like MGM Resorts International’s Osaka IR development forecast completion by at least 2030.
Bloomberry Resorts Corp’s denial underscores the complexities surrounding speculation amidst legislative shifts in Thailand’s gaming landscape. While the potential for Thailand’s entry into legal casino gaming is met with anticipation, industry players like Bloomberry exercise caution in confirming expansion plans amidst evolving regulatory frameworks. As Thailand navigates towards potential legalization, the global gaming industry keenly observes developments, anticipating a transformative shift in Southeast Asia’s gaming landscape.