Macau gaming operator Galaxy Entertainment Group (GEG) is set to enter the bidding process for an integrated resort (IR) license in Thailand, with plans to initiate a Request for Proposal (RFP) as early as mid-2025.
The information was disclosed following a meeting between Galaxy management and the investment bank during the APAC Consumer & Leisure Corporate Day on January 8th, 2025.
Galaxy Entertainment has expressed strong interest in participating in the competitive IR license bidding process in Thailand, focusing exclusively on the Bangkok site.
Based on observations from Goldman Sachs’ recent Non-Deal Roadshow (NDR) in November 2024, the investment bank notes that Galaxy sees Thailand’s potential as one of the largest casino markets in Asia.
The company projects the nation’s annual gross gaming revenue (GGR) of $3-5 billion if the country proceeds with liberalization – a conservative estimate.
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