A legalized casino industry in Thailand would make it the third largest gaming market in the world, and bigger than Singapore, according to a new research note from Citi.
According to analysts George Choi, Preenapa Detchsri and Timothy Chau, Thailand is already shaping up as a compelling investment opportunity that will “likely reshape the revenue pie of the global gaming industry” – even with first opening expected to be at least six years from now.
“We estimate Thailand’s gross gaming revenue could reach US$9.1 billion when fully ramped, with the assumption that two licenses will be awarded to Bangkok and one each to Pattaya, Phuket and Chiang Mai. This will rank Thailand ahead of Singapore and only behind Macau and Las Vegas [at current GGE levels].
