MGM Resorts calls for ‘competitive’ casino tax in Thailand
MGM Resorts International is calling for Thailand to have a casino tax rate competitive with Singapore in a push to boost economic growth.
The company also said that locals should be allowed to visit casino complexes, rather than only serving foreign tourists, on the heels of expressing interest in investing in a $3-5 billion casino facility in Bangkok.
Speaking to the Bangkok Post, President of Global Development at MGM Resorts Ed Bowers highlighted how countries wanting to expand in resorts need to be competitive with their neighbors, especially when it comes to casino taxes.
For context, Singapore charges an average tax rate of 17% on gross casino revenue, while Macau and Japan have higher rates of 40% and 30% each. Mr Bowers argued that Thailand should be on a level closer to Thailand to stimulate tourism and economic growth in the sector.
Thailand needs to include localsMr Bower also highlighted that it is important to allow local people to visit casinos. In countries like South Korea, which bans locals from gambling, casino resorts have struggled to make enough money to stay afloat due to lack of local visitors.
Not only should it be allowed for locals to enter casinos, it should also be accessible. Mr Bowers recommended not exceeding entry fees like those in Japan, where locals are charged ¥6,000 or roughly 1,400 baht/$40 USD per local wishing to enter.
Although there are concerns that making it easier for locals to enter casinos could increase gambling-related harm, Mr Bowers argues that operators like MGM Resorts will employ measures to encourage responsible gambling. Indeed, he argues that legal casinos reduce the potential for harm, a claim backed up by impartial studies.
In Asia, MGM Resorts already owns two facilities in Macau, as well as MGM Osaka in Japan, which is due to open in 2030.
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