Casinos In Thailand?

[Sunbelt Asia]

Analysts predict that Thailand and Japan, which have no casinos now, will have three and 10 respectively within the next five years.

Singapore Casinos May Spur Gaming Growth By GILLIAN WONG, Associated Press Writer

Wed Jun 22,12:33 PM ET

SINGAPORE - Singapore's recent decision to lift its ban on casino gambling will likely lead more Asian countries to follow suit, gaming companies said Wednesday.

Since Singapore gave the go-ahead in April to build two casino resorts, more than a dozen gaming industry heavyweights, including Harrah's Entertainment Inc., have lined up to bid for the projects.

"Once people see Singapore, what they're doing and the kind of level of interest and investment, and driving of tourism and jobs, I'd be hard-pressed to believe that other countries in the region are not going to open up," said Richard Mirman, senior vice president of business development at Harrah's Entertainment Inc.

Mirman was speaking to reporters on the sidelines of the two-day Asian Casinos Expo in Singapore, which brings together gambling companies to discuss casino development in Asia and showcases new gaming technology.

The region's casino industry is worth about $20 billion annually and some analysts predict the Chinese enclave of Macau — Asia's top draw — will surpass Las Vegas as the world's largest gambling market this year.

But Macau's dominant casino operator said Wednesday at the expo that China should regulate the growth of Macau's gambling industry and minimize competition from foreign-owned casinos.

Two Las Vegas-style casinos opened last year in Macau, operated by Hong Kong-based Galaxy Resort & Casino and Las Vegas Sands Corp. chairman Sheldon Adelson. And two of Las Vegas' largest gaming operators — Wynn Resorts Ltd. and MGM Mirage — are already planning grand openings for complexes in Macau, which was returned to Chinese sovereignty in 1999 after more than four centuries of rule from Portugal.

"Competition is not welcome if we can avoid it at all," said L.C. Koo, head of performance improvement for Sociedade de Jogos de Macau, local casino tycoon Stanley Ho's flagship casino company.

"The government should look seriously at what the appropriate growth rate of the Macau gaming industry should be," Koo said.

Since the liberalization of Macau's gaming industry in 2002 ended Ho's four-decade casino monopoly, his company has faced a labor shortage, a doubling of property prices and diluted revenue due to competition, Koo said.

"That's why a regulated growth would be desirable," he said, adding that without it, if demand should dip, "the industry will suffer, and the people of Macau will suffer."

But an executive from the world's largest gaming company disagreed.

"Asia is a relatively untapped market, and there's really only one serious place, that's Macau. It's going to take a long time before it's tapped out in terms of growth opportunity," Mirman said.

The tiny island just 40 miles west of Hong Kong attracts thousands of Hong Kong and mainland Chinese gamblers who have no casinos at home. Macau's economy has been booming since 2000, driven by a liberalized gaming industry and relaxed travel restrictions.

Meanwhile, Singapore's casinos are expected to be completed by 2009, and the city-state's plan to build them as part of larger entertainment complexes would suit other Asian countries, industry officials said.

"The Singapore government have got it absolutely right in its request for an integrated tourism resort," said Asian Casinos Expo chairman David Elliott.

"It's something the community in Asia will be quite receptive of because it ensures there will be a maximum amount of opportunity for employment and a maximum amount of opportunity for community benefit," Elliott added.

Malaysia, the Philippines, Cambodia and South Korea also currently operate casinos. Analysts predict that Thailand and Japan, which have no casinos now, will have three and 10 respectively within the next five years.

http://news.yahoo.com/s/ap/20050622/ap_on_bi_ge/asia_casinos

[baht&sold]

Given recent headlines, regarding casino raids in Thailand (allegedly owned by unamed high ranking civil servants;) and combined with personal observations from the odd visa run to Poipet and also to Burma (which are becoming dominated by loads of "bling" Thai gamblers whom seemingly never have to suffer queues at the borders;) legalised gambling will likely arrive in the land of smiles, sooner, rather than later.

Will high profile offshore interests get involved tho (are they actually "invited", other than for show??) or is this merely 'posturing' from and by those whom actually covet a larger personal piece of the current "illegal" pie, enroute to self-serving sanctioned legailty?

If I were a cynic ( I suppose I'd first bust all the major illegal competition, then win public support for said crackdown, then come out and say, well, gaming is here to stay, no matter what, so best to bring it under govt control for the betterment of all...

Here's a recap regarding Wynn (of Vegas/Mirage fame) foray into Singapore's "tender" (erm, vested proposal;)

Singapore Officials Respond to Wynn's Criticism

18 May 2005

SINGAPORE – As reported by the Singapore Business Times: "The Urban Redevelopment Authority (URA) and the Singapore Tourism Board (STB) have responded to casino guru Steve Wynn's scathing criticism of Singapore officials' handling of the process leading up to the submission of bids under the Request for Proposal (RFP) for the integrated resorts.

"Among other things, Mr Wynn had charged that Singapore officials were exercising excessive control of the design process for the proposed resorts.

"…The government chose the RFP approach instead of the traditional tender process, the letter explained, because it provides opportunities for developing exciting and innovative concepts and designs for the IRs within the context of their locations.

"…'Like many major cities, Singapore has planning and urban design guidelines which ensure that developments fit well into our city. These cover broad parameters…"

Edited June 24, 2005 by bahtandsold