MGM Resorts International has announced the investment amount for the construction of its first casino in Thailand

MGM Resorts International, the American gaming and hospitality company, has expressed interest in investing between $3 billion and $5 billion (approximately 239.5 to 398.7 billion rubles) in the construction of an integrated casino resort in Thailand's capital, Bangkok. However, the operator emphasizes that the country must establish "competitive" tax rates and reasonable access conditions for local residents. This marks the first instance in which an international company has disclosed a proposed investment amount.
Ed Bowers, President of Global Development at MGM Resorts, stated that new countries looking to attract investments in integrated resorts should consider the tax policies of regional competitors. He cited Singapore, where the gross gaming revenue tax rate is set at 17%. In contrast, taxes in Macau and Japan are significantly higher, at 40% and 30%, respectively.
Bowers highlighted that casino resorts not only boost tourism and the economy but also help address social issues. Last year, a bill in the Thai parliament proposed a tax rate of 17%, but no official option has been approved yet.
MGM is particularly interested in Bangkok, believing that the capital, with its developed infrastructure and strong tourist influx, could support one or two large casino resorts. However, the current priority is to establish a single integrated complex. Bowers emphasized the importance of factors such as population density, proximity to the airport, and site recognition.
In March, Thailand's entertainment complex project implementation committee identified four priority regions: Bangkok, Chonburi, Chiang Mai, and Phuket. The country plans to issue between 5 to 8 licenses in total.
In addition to tax revenue, integrated resorts create thousands of jobs, which is especially crucial when entering new markets. MGM asserts that its model has been successfully implemented worldwide and could yield similar benefits for Thailand.
According to Thailand's Deputy Finance Minister Julapana Amornvivat, negotiations with the government have already taken place with four leading operators, including Wynn Resorts and MGM Resorts.
It is worth noting that the Thai public has shown support for the idea of opening legal casinos in the country.