Genting Malaysia keeping a close eye on Thailand’s gaming market

CGS International highlighted GENM’s interest in Thailand’s gaming market.

Thailand.- The acceleration of casino legalisation efforts in Thailand stands to significantly impact Genting Malaysia Berhad (GENM), with the company being heavily involved in the process according to local media outlet Business Times.

CGS International said that GENM is also maintaining its pursuit of one of the New York downstate casino licenses, strategically focusing on key markets to “capitalise on growth opportunities while improving operational efficiency and long-term profitability.”

Genting Group chairman, Lim Kok Thay, commented last May on the company’s interest in Thailand.

Thai market

Thailand’s Prime Minister Pateogntarn Shinawatra announced on Monday (January 13) that the country’s cabinet has approved the draft bill to legalise casinos. It will now be headed to the House of Representatives for further consideration. No specific timeline for its enactment has been set. 

The draft bill to legalise casinos proposes 30-year casino licences with the option for a 10-year renewal. Complexes would be located in designated areas and operated by companies registered in Thailand with a minimum paid-up capital of THB10bn (US$283m). Casino entry fees for Thai nationals have been set at THB5,000 (US$144). A policy panel led by the Prime Minister and a regulatory agency would oversee the industry.

CGS International highlighted GENM’s interest in Thailand’s gaming market. Thailand.- The acceleration of casino legalisation efforts in Thailand stands to significantly impact Genting Malaysia Berhad (GENM), with the company being…