Reports emerged this week suggesting that Enrique ‘Ricky’ Razon, Filipino billionaire and chair of Bloomberry, could consider expansion in Thailand. This revelation, spotlighted by the article on Bilyonaryo.com, hinted that Razon has expressed interest in establishing a resort casino in Thailand.
However, Bloomberry has decisively responded to these circulating reports. In a notice issued to the Philippine Stock Exchange, the company has clearly distanced itself from such claims, emphasizing that the notion is purely speculative. Despite acknowledging that legal gambling in Thailand holds “market interest,” Bloomberry has remained unequivocal about their current stance.
“The article is essentially a speculation that Bloomberry ‘is expected’ to join ‘global gaming leaders who have shown interest in establishing a resort casino in Thailand,’” the notice from Bloomberry elucidated. It further added, “There have been reports that Thailand is contemplating a gaming law, but we have no idea what form it will take. It is of market interest. But to say that Bloomberry confirms that it has plans to expand in Thailand is a part of the writer’s speculation. There is no such plan.”
Currently, Bloomberry’s operational focus remains firmly rooted in South Korea and the Philippines, where the group runs one integrated resort each. Notably, a second location in the Philippines was inaugurated just last week.
While Bloomberry seems to have no immediate intentions to establish operations in Thailand, the notion of expansion in the country has not escaped other major players in the global gaming industry. During its Q1 earnings call, Wynn Resorts CEO Craig Billings expressed the operator’s interest in Thailand, highlighting that they are contemplating the possibility of setting up casinos in both Thailand and New York.
Billings conveyed that the initiative is still in its nascent stage, with many details about regulations and licensing structures yet to be clarified. Nevertheless, he underscored Wynn’s keen interest in the venture.
. “Thailand is already a major tourism destination with significant tourism infrastructure and a world-class service culture,” Billings remarked. “We will continue to closely monitor the advancement of the legalization process.”
Adding to the chorus of interested parties, Las Vegas Sands has also publicly registered its enthusiasm for the Thai market. Last month, CEO and chairman Robert Goldstein unequivocally voiced the operator’s interest. “It’s a very, very exciting market on many levels,” he commented. “The sheer size of the population, the accessibility, and the willingness of people to travel to Thailand make it extraordinarily appealing. It’s arguably the number one resort destination city in Asia.”
Goldstein also speculated that the timeline for Thailand might surpass that of Japan in terms of casino legalizations. “It could even happen quicker than Japan. Conceivably, given the momentum, although there is still much work to be done in understanding this market’s intricacies,” he added.
The ongoing discussions around the potential legalization of casinos in Thailand have been the subject of various analyses, one of the more comprehensive ones being a two-part series authored by Muhammad Cohen. The series delineates how Thailand is outpacing Japan concerning the legalization of casinos and gambling, albeit not without significant hurdles.
In part two, Cohen dives into how the legal landscape in Thailand could defy conventional wisdom yet offers robust growth potential for leading operators. Such in-depth explorations underscore the broader optimism breeding among global casino giants about Thailand’s prospective gaming market.
In sum, although Bloomberry has quashed current rumors about its involvement in any Thai casino expansion, the country’s potential is undoubtedly drawing significant interest from other major players in the global gaming industry. With legal frameworks still in early stages, the global casino landscape is watching closely to see how the situation unfolds in this vibrant Southeast Asian market.
