Maybank’s bet: Thailand casinos could hit jackpot, boosting GDP

Maybank Securities, a unit of Malaysia-based Maybank, forecasts that the potential introduction of casinos in Thailand with gambling facilities could yield an annual revenue of 187 billion baht, equivalent to about 1% of Thailand’s gross domestic product (GDP). The forecast, based on an assessment carried out by Maybank’s gaming analyst and tourist arrivals in Thailand in 2019, anticipates the first complex to commence operation by the fiscal year 2029.

The proposed tax rate on Thai casinos, standing at 17%, is considered appealing when compared to regional counterparts such as Singapore, Malaysia, the Philippines, and Macau, which impose a mass market rate ranging from 25-40%. This comparison was drawn by tourism analyst Boonyakorn Amornsank.

In the forthcoming weeks, the Thai government has plans to make a draft bill public for…