Galaxy Entertainment betting on Thai gaming industry

Casino operator Galaxy Entertainment (0027) is considering expanding into Thailand’s gaming sector and is evaluating an investment worth billions of US dollars in a proposed casino and entertainment complex in Bangkok, according to Thai media reports.

Its shares slipped 0.92 percent to HK$32.15 on Tuesday.

The company sees Thailand’s steady tourism recovery as creating favorable conditions for large-scale investments, if its momentum persists, Thai media reported. However, it emphasized that effective regulatory and oversight mechanisms are necessary to address social concerns over gambling legalization and ensure the industry grows responsibly.

Galaxy Entertainment chairman Francis Lui Yiu-tung has voiced optimism about Thailand’s market potential, saying the country’s hospitality and service quality would support the development of integrated resorts.

The report quoted Kevin Clayton, chief brand officer at Galaxy Resorts Thailand, as saying that if Thailand’s tourism strategy is successfully implemented, foreign arrivals could rise by 39 percent to 50 million annually, boosting tourism revenue from 3 trillion baht (HK$690 billion) to 5 trillion baht and increasing its GDP contribution from 20 percent to 30 percent.

STAFF REPORTER