Contrary to circulating rumors, Bloomberry Resorts Corporation has clarified that it has no immediate plans to erect a new terrestrial casino in Thailand, regardless of the nation’s strides towards legalizing gambling.
Within the past week, conjecture ignited that Enrique ‘Ricky’ Razon, Filipino tycoon and Bloomberry Chairman, had set his aims on expanding operations into Thailand. With a story from Bilyonaryo.com suggesting his curiosity in establishing a casino resort within the country.
In response, Bloomberry took action by delivering a statement to the Philippine Stock Exchange, expressing its disassociation from such rumors. However, it acknowledged that Thailand’s potential legalization of gambling market sparks “significant interest.”
The speculation that Bloomberry ‘is predicted’ to join the ‘International gaming elites showing interest in building a resort casino in Thailand’, is baseless and unsubstantiated.” Bloomberry stated.
There is chatter about Thailand pondering over a gaming law but no concrete information has surfaced. It indeed sparks market interest, however, asserting Bloomberry’s planned expansion into Thailand is purely conjectural. We have no such intentions,” the company stated further.
Bloomberry is presently committed to its casino operations in South Korea and in the Philippines. It runs one integrated resort in each nation, with another recently inaugurated in the Philippines.
Global Casino Moguls Set Sights on Thailand
While Bloomberry may not have any immediate plans for launching in Thailand, other industry giants are expressing interest.
Wynn Resorts’ CEO Craig Billings, during its Q1 earnings call, declared the company’s intentions for exploring opportunities to build casinos in Thailand and New York.
While a clear understanding of Thailand’s regulatory framework and licensing structures is yet to surface, Billings did acknowledge his company’s keen interest in venturing there.
“Thailand is a major tourist draw with substantial tourism infrastructure and remarkable service culture,” he pronounced. “We will keep a close eye on any progress regarding the legalization process.”
Among others expressing stakeholder interest is Las Vegas Sands. Its CEO and Chairman, Robert Goldstein, asserted the operator’s “absolute” interest in Thailand last month.
“Thailand is an enticing market with huge potential,” he stated. “The large population, accessibility and the travel appetite of its people make Thailand the go-to resort destination city in Asia.”
“It could even beat Japan to the punch. It’s a viable possibility. It’s still early stages and we’re still understanding its profitability,” he added.
Thailand Surpassing Japan in Casino Goals
Goldstein isn’t alone in making comparisons between Thailand and Japan’s journeys towards casino legalization.
Muhammad Cohen recently wrote a two-part series dissecting Thailand’s situation. One piece inspects how Thailand is presently accelerating past Japan in terms of casino legalization, despite confronting considerable challenges.
The second part of the series suggests that while Thailand’s potential casino legalization may counter usual perspectives, it could offer substantial growth potential for top-tier operators.
