Economy
Casino Gambling & Integrated Resorts in Thailand
Thailand Moving Closer to Integrated Resorts
In early January of this year, a report was submitted and presented to the House of Representatives of Thailand. It contained surveys and various other research proposing casino-entertainment resorts to be built in Thailand.
As reported by thaicasinocenter.org, a special house committee and Suan Sunandha Rajabhat University ran a public opinion survey at the end of 2022, asking whether Thai people would approve of entertainment resorts being built in certain areas which will have casinos. In that particular survey, 80.7% of people approved the projects, and 36.4% answered that casinos must be a part of those resorts.
An Important Decision
At a three-hour meeting, the House of Representatives of Thailand discussed the proposals presented to them. While the idea of entertainment resorts was not an issue, the inclusion of casinos was the major point that had to be decided upon. Of the 319 representatives present, 310 voted in favor of having casinos as part of the entertainment complexes. It was seen as beneficial due to the economic value that the projects would bring.
The proposal was approved, but this does not mean that casino gambling will become legal overnight. The full report, as well as any extra comments made during the meeting, will be sent to the government for further evaluation. Pakornwut Udompipatsakul, a member of the House committee who was present for this event, said that this is a huge step for the country. However, full authorization and planning may still be two to three years away.
The Official Report
The official report proposed that if the proposal were approved, a new committee would be established to monitor and manage the issue, with the Prime Minister of Thailand having a leading role. In terms of funding, it was proposed that investments come from both public and private sources. With regard to location, the report highlighted Bangkok, the Eastern Economic Corridor (EEC), and places within a 100-kilometer radius of Suvarnabhumi and U-Tapao airports as the first priority. As an alternative, the report then pointed to tourism provinces as the second choice, with a few smaller provinces as the third.
The legality of casinos and online gambling in the country is the main obstacle this proposal faces. To move forward with the project, the 1935 Gambling Act must be amended to allow for casino and online gambling in the areas where the projects are to be built. If the government approves the project, the Ministry of Interior will be responsible for creating and introducing the relevant bill.
Additional Suggestions
In the report, there were also suggestions that the entertainment complex would have a five-star hotel, amusement parks, indoor and outdoor sports stadiums, shopping malls, a zoo, and beauty parlors. In fact, no more than 5% of the resort would be occupied by casinos.
When casinos eventually open, they will welcome locals and foreigners older than 21 years. Additionally, for people to be allowed, they would need to present evidence that they have had at least THB 500,000 or $15,000 in their bank account in the previous six months. The official report also stated that anything won from the casinos would be taxed.
Opposing Views & Future Steps
The proposal for the meeting and approval was received with some opposition, mainly from Thanakorn Komkrit, secretary-general of the Stop Gambling Foundation. He expressed worry that the committee had not developed a strategy to combat illegal gambling or addressed the possibility of criminal groups using casinos and online gaming to launder money. These problems will undoubtedly be thoroughly investigated and debated before the idea is given to the government. The proposal will be discussed further in the next few years.
Final Thoughts
Before the Thai government can move forward with the ambitious project of constructing casino-entertainment resorts in Thailand, a thorough assessment and discussion of potential issues must be conducted. To stay informed, be sure to follow the latest updates at thaicasinocenter.org, which provides reliable coverage of the official report and public opinion. Ultimately, only time will tell whether Thailand will join its neighbors as a prime gambling destination in Asia.
By Adedapo Adesanya
A 0.91 per cent growth was recorded by the NASD Over-the-Counter (OTC) Securities Exchange on Friday, May 22, after the share prices of four securities ended in green.
According to data, FrieslandCampina Wamco Plc went up by N15.61 to N179.67 per share from N164.06 per share, Newrest Asl Plc grew by N6.11 to N67.26 per unit from N61.15 per unit, Food Concepts Plc appreciated by 17 Kobo to N2.75 per share from N2.58 per share, and Nitrox Industrial Gases Plc added 6 Kobo to sell at N25.50 per unit compared with the previous day’s N25.44 per unit.
At the close of business, the market capitalisation chalked up N23.22 billion to settle at N2.561 trillion versus Thursday’s N2.538 trillion, and the NASD Unlisted Security Index (NSI) increased by 38.81 points to 4,281.28 points from 4,242.47 points.
During the session, the price of Central Securities and Clearing System (CSCS) Plc was down by N3.13 to N71.07 per share from N74.20 per share.
The activity chart showed that the volume of securities transacted by the market participants decreased yesterday by 81.6 per cent to 590,339 units from the 3.2 million units recorded on Thursday, as the number of deals shrank by 28.6 per cent to 30 deals from the 42 deals recorded a day earlier, while the value of securities increased by 0.5 per cent to N95.3 million from the preceding session’s N94.8 million.
Great Nigeria Insurance (GNI) Plc closed the day as the most active stock by value on a year-to-date basis, with a turnover of 3.4 billion units worth N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units sold for N6.5 billion, and CSCS Plc with 61.2 million units traded for N4.1 billion.
The most active stock by volume on a year-to-date basis was GNI Plc, with the sale of 3.4 billion units for N8.4 billion, followed by Infracredit Plc with 2.3 billion units valued at N6.5 billion, and Resourcery Plc with 1.1 billion units exchanged for N415.7 million.
By Dipo Olowookere
The Nigerian Exchange witnessed a decline in transactions on Friday despite closing higher by 0.22 per cent on the back of sustained bargain-hunting.
During the last trading session of the week, investors transacted 711.9 million equities valued at N29.1 billion in 62,386 deals compared with the 1.1 billion equities worth N31.0 billion traded in 62,448 deals in the previous day, indicating a decline in the trading volume, value, and number of deals by 35.28 per cent, 6.13 per cent, and 0.10 per cent, respectively.
Fidelity Bank closed the day as the most active stock with the sale of 198.1 million units for N4.6 billion, Access Holdings traded 69.7 million units worth N1.8 billion, Mutual Benefits exchanged 42.7 million units valued at N197.4 million, Japaul transacted 33.9 million units worth N134.4 million, and Zenith Bank sold 24.4 million units valued at N3.2 billion.
Yesterday, the industrial goods index rose by 0.53 per cent, the consumer goods sector jumped 0.28 per cent, the banking industry improved by 0.25 per cent, and the energy counter soared by 0.18 per cent, while the insurance space shed 0.18 per cent.
At the close of business, the All-Share Index (ASI) gained 536.98 points to finish at 249,712.37 points compared with the previous day’s 249,175.39 points, and the market capitalisation grew by N344 billion to N160.077 trillion from N159.733 trillion.
Aluminium Extrusion and DAAR Communications expanded by 10.00 per cent each to sell for N9.90 and N2.09, respectively, RT Briscoe surged by 9.93 per cent to N14.06, Learn Africa increased by 9.79 per cent to N12.90, and Red Star Express advanced by 9.56 per cent to N34.95.
On the flip side, Trans-Nationwide Express depreciated by 9.92 per cent to N5.72, Livestock Feeds dipped by 9.64 per cent to N8.90, The Initiates crashed by 8.65 per cent to N33.80, Ellah Lakes drowned by 8.64 per cent to N10.05, and Neimeth lost 6.36 per cent to trade at N10.30.
By Adedapo Adesanya
The Naira weakened against the United States Dollar by N3.15 or 0.23 per cent to N1,375.46/$1 from N1,372.31/$1 in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Friday, May 22.
It was also a similar situation for the domestic currency against the Pound Sterling in the official market yesterday, as it lost N9.46 to sell for N1,849.72/£1 compared with the preceding session’s N1,840.26/£1, and against the Euro, it depreciated by N6.26 to close at N1,597.04/€1, in contrast to Thursday’s exchange rate of N1,590.78/€1.
At the GTBank FX desk, the Nigerian Naira tumbled against the Dollar during the session by N2 to trade at N1,381/$1 versus the previous day’s N1,379/$1, and at the parallel market, it remained unchanged at N1,390/$1.
Analysts at Cowry Asset Management Limited, in their weekly financial outlook, have projected the Naira will remain under soft pressure in near term due to continuous FX demand.
“Looking ahead, the Naira may remain under mild pressure in the near term due to persistent FX demand, though rising external reserves could help cushion volatility,” they noted.
Meanwhile, the Central Bank of Nigeria (CBN) this week reiterated that it would continue with its current policy direction to sustain the fight against inflation and stabilise the exchange rate.
This comes as the FX market has changed significantly under the ongoing reforms introduced by the apex bank, with increased market liquidity reducing the need for heavy intervention by the CBN. Its intervention currently accounts for only about 1.2 to 1.3 per cent of total market turnover in 2025, a development he said reflects the growing strength of the market.
Turnover has risen sharply from about $100 million in 2023 to roughly $550 million presently, with transactions occasionally climbing to as high as $1 billion in a single day.
A look at the cryptocurrency market showed that it was down on Friday as Mr Kevin Warsh was sworn in by President Donald Trump as the chairman of the US Federal Reserve, replacing Mr Jerome Powell, who will continue as a governor in the US central bank.
The appointment was made in the hope that he would lead the central bank to cut interest rates, but the Iran war has sent oil prices soaring and re-ignited what had been cooling inflation.
Ethereum (ETH) depreciated by 5.5 per cent to $2,010.90, Dogecoin (DOGE) lost 5.2 per cent to trade at $0.1001, Cardano (ADA) fell by 5.0 per cent to $0.2389, Solana (SOL) slipped by 4.9 per cent to $82.69, and Bitcoin (BTC) slid by 3.3 per cent to $74,950.02.
Further, Ripple (XRP) went down by 2.9 per cent to $1.32, Binance Coin (BNB) declined by 2.6 per cent to $641.61, and TRON (TRX) shrank by 1.2 per cent to $0.3606, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
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