LVS Could Open Mega Casino Resort In Bangkok, Thailand
Summary
- Las Vegas Sands Corp. focuses on unspecified Asian destination
- Gaming analysts suggest that Bangkok, Thailand is the location
- Casino similar to Marina Bay Sands set to be developed
Casino giant Las Vegas Sands Corp. surprised a lot of people when it decided to exit the U.S market and get rid of its properties in Las Vegas in a $6.25 billion sale that was completed in Feb 2022. The gaming operator made it clear that it will focus its attention on the Asian gaming market.
Sands Corp. has a major presence in Macau and also runs the iconic Marina Bay Sands in Singapore. The gaming operator is investing billions of dollars to revamp and expand its gaming properties in Macau and Singapore.
There is also speculation that Las Vegas Sands Corp. is now targeting an unspecified Asian country to expand its presence and set up a new mega casino resort in a new Asian destination. Chairman and CEO Robert Goldstein has confirmed that the company has been in talks with a top tier Asian nation about developing a casino resort that will be similar to Marina Bay Sands.
Goldstein said that over the years a number of Asian destinations have entered into talks with Sands Corp. about expanding and developing a casino resort. However, none of those talks have materialized so far but this current discussion looks a lot more promising.
Gaming Analysts Suggest Bangkok, Thailand
The Philippines, Vietnam, South Korea and Cambodia all have thriving casino markets and would welcome a big name like Las Vegas Sands Corp. However, analysts at Sanford Bernstein suggest that Las Vegas Sands Corp. is in talks with Thailand about developing a multi-million dollar casino resort.
If Thailand is the proposed destination, then it is highly likely that the capital Bangkok will be the proposed destination. Casino gambling is currently banned in Thailand but the government has entertained the possibility of legalizing casinos. In Dec 2021, the House of Representatives gave the green light for a 60 member casino committee to look into the feasibility of casino legalization.
This is not the first time that Sands Corp. has been linked to a potential casino resort in Thailand. There were talks in 2015 about a potential development but it did not materialize. We now have to wait and see if these talks in 2022 result in a mega casino resort in Bangkok!
David WalkerAuthor
David is our resident 'down under' contributor, letting us know what is going on in the southern hemisphere, he is also keen blackjack player
