MGM Resorts International eyes Thailand’s Bangkok for casino investment with calls for a fair taxation structure and local entry allowance. MGM’s interest in Bangkok comes after Thailand officially named those four cities for casino entertainment complexes. The investment could range from $3 to $5 billion. However, according to the company’s head of global development, the
MGM Resorts International eyes Thailand’s Bangkok for casino investment with calls for a fair taxation structure and local entry allowance.
MGM’s interest in Bangkok comes after Thailand officially named those four cities for casino entertainment complexes. The investment could range from $3 to $5 billion.
However, according to the company’s head of global development, the future of whether MGM will enter Bangkok or not depends on Thailand’s policy decision. In a recent interview with the Bangkok Post, he stressed that a competitive tax system is key to drawing in global players and pointed to Singapore’s taxation rate of 17%.
Bowers stated:
“Integrated resorts not only have a significant impact on economies and tourism, but they also help to eliminate existing problems related to gambling. It is essential governments understand the fundamentals of how the casino business works.”
Bower also warned against banning locals from gambling. Back in February, Thailand set new gambling rules to keep locals out with an entry fee of $1.5 million. However, after detailed research, the fee decreased to only $147. MGM believes that the fee to let locals in should not exceed Japan’s rate of $41.7.
Bowers also highlighted that well-run casino resorts can fund education and social programs while creating jobs.