• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 7 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Former MBS head Tanasijevich: ECs would represent one of Thailand’s largest ever FDI opportunities but regulations must consider mutual benefits

Ben Blaschke by Ben Blaschke
Thu 5 Jun 2025 at 19:57
Former MBS head Tanasijevich: ECs would represent one of Thailand’s largest ever FDI opportunities but regulations must consider mutual benefits

Former Marina Bay Sands President and CEO George Tanasijevich at TECR

29
SHARES
719
VIEWS
Print Friendly, PDF & Email

The legalization of casinos within large-scale entertainment complexes “could be one of the biggest sources of foreign direct investment in [Thailand’s] history”, but realizing the opportunity will require a fact-driven approach and genuine alignment between the government and operators, according to former Marina Bay Sands President and CEO George Tanasijevich.

Tanasijevich, who was also formerly Managing Director of Global Development for MBS parent company Las Vegas Sands, offered his insights to an audience of influential Thai government and business leaders at the Thai Entertainment Complex Roundtable in Bangkok on Thursday.

Although he stressed that it must ultimately be up to Thailand itself to decide whether entertainment complexes represent a positive step forward, Tanasijevich said the opportunity was too big to sweep aside.

“You are facing a situation here where you have an immense opportunity and would be wise to consider it carefully to make sure you understand it fully before you make a final decision,” he said.

“The reality is that these opportunities don’t come along frequently. The amount of economic impact that can come from this is absolutely huge and there would be a corresponding and related impact in so many important areas if [Thailand decides] to go forward with it.”

However, Tanasijevich – who led Sands through the bidding process for one of the two licenses that was on offer in Singapore back in 2005 – reiterated the importance of close collaboration between government and operators given concerns over what restrictions may be placed on locals gambling in Thai casinos.

“In order to make the economic impact optimal, you’re going to have to attract the right investors and the best investors like certainty,” he said.

“There are certain things that need to be laid out so that people know what they’re facing if they are going to pitch for an opportunity in this market.

“A collaborative process will be absolutely critical – a close alignment and integration between operators and the government. This is an essential starting point for any kind of a dialogue so that both sides can understand each other and work towards a mutually satisfactory environment where the right decision can be made. That also means an alignment of interest between operators, government and the people of Thailand because the impact that entertainment complexes can have on the economy and on the labor market is significant.”

TECR included a series of comprehensive roundtable discussions on topics raised

Tanasijevich noted that one of the first touch points between government-operator discussions should revolve around educating the public as to exactly what an entertainment complex is, what benefits they can bring and how international operators have traditionally managed risk.

This, he explained, is because any decision Thailand makes as a nation on whether or not to proceed with legal casinos should be fact-based.

“I recognize that this can be an emotional issue and some of the emotion is driven by fear of the unknown, but I think some of those concerns sometimes are shaped by misperception.”

The former MBS president did, however, praise Thailand for developing open-mindedness on the issue of legalizing casinos and called on the government and other stakeholders to work with operators to establish a competitive regulatory environment that fulfils the needs of all.

“This open mindedness is very important because the impact that could come from doing this right is substantial – it could be one of the biggest sources of foreign direct investment in history here, so you just can’t ignore this opportunity.

“The point I would make is that if Thailand is going to move forward it needs to be competitive in how it establishes its legal and regulatory environment because this is not the first market this type of business has been established in. There is already a framework that has been set that is based on experience and lessons learned. It is also something that operators and industry expect, so you don’t want to start from scratch with a blank sheet of paper. Instead, you should be looking at trying to create something that is based on international best practices, adjusted for local conditions to make sure it’s right for Thailand.

“Ultimately what people will be looking for is a situation where operations can be conducted efficiently and safeguards are put in place to protect people who might be at risk. That would ultimately ensure a win-win situation for everybody involved.

“But I think you also have to face the fact that, regardless of whether you think entertainment complexes are favorable or not, people are going to gamble so the choice is whether or not you want it to happen in Thailand legally through a structured regulated framework.”

RelatedPosts

Concerns over Thailand’s US$1.5 million bank deposit requirement raised by casino supporters and critics alike at TECR roundtable event

Concerns over Thailand’s US$1.5 million bank deposit requirement raised by casino supporters and critics alike at TECR roundtable event

Thu 5 Jun 2025 at 20:06
Galaxy, Melco and Wynn to attend major media event “Thai Entertainment Complex Roundtable” alongside Thai voices opposing entertainment complex industry

Thailand Entertainment Complex Roundtable at Grand Hyatt Erawan Bangkok is on today 

Thu 5 Jun 2025 at 06:09
Macao Government Tourism Office to hold roadshow in Bangkok this Friday, all six concessionaires to attend

Macao Government Tourism Office to hold roadshow in Bangkok this Friday, all six concessionaires to attend

Wed 4 Jun 2025 at 23:35
JP Morgan analysis says Bangkok IRs could generate combined US$5 billion annually

Thai government details casino plans, hopes IRs can transform Thai concert and sports scene by incorporating world-class arenas

Wed 4 Jun 2025 at 23:34
Load More
Tags: casinosEntertainment Complex BillEntertainment complexesForeign Direct InvestmentGeorge TanasijevichThailand
Share12Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Hong Kong Chief Executive claims to have discussed “travel bubble” with Macau

Over 90% of Hong Kong residents support introduction of basketball betting as 50% net revenue tax proposed

by Pierce Chan
Fri 6 Jun 2025 at 19:10

The Hong Kong government has completed a public consultation on the legalization of basketball betting, with 94% of respondents supporting the introduction of the new betting option and proposing that 50% of net betting revenue be allocated as gambling tax....

Chief Gaming Officer Damian Quayle to depart SJM, take up role as COO of Manila’s Solaire Resort North

Chief Gaming Officer Damian Quayle to depart SJM, take up role as COO of Manila’s Solaire Resort North

by Ben Blaschke
Fri 6 Jun 2025 at 12:55

Macau’s SJM Resorts has announced the impending departure of its Chief Gaming Officer, Damian Quayle, who has resigned from the role. Inside Asian Gaming understands that Quayle, whose final day with SJM will be on 20 June, has accepted a...

Australia’s Crown sells London casino to Wynn Resorts

Wynn completes purchase of former Crown London casino, now called Wynn Mayfair

by Newsdesk
Fri 6 Jun 2025 at 06:56

US casino giant Wynn Resorts Ltd said overnight that it has completed the purchase of Crown London, formerly Aspinall’s, from Australia’s Crown Resorts. The casino will now be known as Wynn Mayfair. First announced in early January, the acquisition of...

SkyCity to file US$200 million claim against developer for long delays in completion of Auckland convention centre

SkyCity to file US$200 million claim against developer for long delays in completion of Auckland convention centre

by Newsdesk
Fri 6 Jun 2025 at 06:41

New Zealand’s SkyCity Entertainment Group Limited will file legal proceedings against the developers of its New Zealand International Convention Centre (NZICC) seeking NZ$330 million (US$200 million) damages for losses arising from delays to completion of the project. The company noted...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English