Are Galaxy, MGM casinos betting on Thailand amid Macau shift?
- With the potential for Thailand and the UAE to legalise casinos in coming years, operators are seeking to get a head start
- China wants Macau to shift away from gambling towards entertainment and has cracked down on high rollers it suspects of money-laundering
Two of the world’s top casino operators are laying the groundwork to potentially establish gambling facilities in Thailand as the industry looks to hedge against a deteriorating outlook in Macau.
Galaxy Entertainment Group and MGM Resorts International are studying the potential of opening casino resorts in the country, according to the people, who asked not to be identified because the matter is private. Galaxy, the gaming, retail and hospitality group controlled by billionaire Lui Che-woo, is also exploring starting gaming operations in the United Arab Emirates, some of the people said.
A representative for Galaxy didn’t comment on its plans. MGM didn’t immediately respond to a request for comment sent outside business hours.
The early efforts to enter new markets reflect casino operators’ anxiety over a deteriorating outlook for Macau, which once pulled in six times the gaming revenue of Las Vegas and delivered historically high returns. China wants the enclave to shift away from gambling toward entertainment and has cracked down on high rollers it suspects of money-laundering while imposing heightened scrutiny on gaming activities.
