StarDream Cruises chooses Thailand as home port
StarDream Cruises previously operated under Genting Hong Kong before its bankruptcy.
Thailand.- StarDream Cruises has named Thailand’s Laem Chabang as its home port amid the launch of its new cruise ship Star Voyager. Michael Goh, president of StarDream Cruises, said the location was chosen as it’s a top destination for foreign tourists.
The Star Voyager can carry 2,000 passengers and is focused on Thailand and routes in Southeast Asia. The company expects 40-50 per cent of its passengers to be locals, with the rest coming from Asian markets where StarDream has representatives, including China, India, Japan, South Korea and Hong Kong.
StarDream Cruises previously operated under Genting Hong Kong before it filed for bankruptcy in 2022. The company currently operates three cruise ships, the other two being Star Navigator serving Taiwan and Japan and Genting Dream, which carries up to 4,500 passengers mainly for Singapore and Malaysia.
According to the Thai Maritime Enforcement Command Center, Thailand received over 162 cruise trips last year, bringing in more than 379,036 passengers and 163,331 crew members.
Thai casinos could generate US$8.39bn in annual revenue, analysts say
Analysts at Maybank Securities (Thailand) have forecast that casinos in Thailand could generate THB278bn (US$8.39bn) annually in revenue. Approximately THB195bn would be derived from gaming activity, while the remaining 30 per cent is expected to come from non-gaming segments such as accommodation, food and retail.
Analysts said the country’s large tourism base and relatively low proposed tax rate on gross gaming revenue (GGR) position it favourably in the region. They estimate that EBITDA margins for casino resorts could reach between 34 per cent and 49 per cent. That would surpass the performance of Macau and Singapore casinos, where tax rates on mass-market play range from 25 to 40 per cent.
A special Senate committee has reportedly been tasked to review the bill. According to the Bangkok Post, the first meeting will take place today (April 23). The meeting will focus on appointing a chairperson, outlining the framework for the study and nominating a replacement for Piayura. The committee has 180 days to complete its work.
