Thai Senate unveils study on Las Vegas economic transformation

The Senate also highlighted the economic, managerial, and regulatory lessons that could be drawn from the transformation of what was once considered a vice-ridden area into a leading global destination that significantly contributes to national income.

According to the report, Las Vegas, located in the state of Nevada, was founded in 1905 as a mining town in the middle of the desert.

It underwent a major transformation in the 1990s when both the public and private sectors collaborated to invest in its development as a premier entertainment centre — particularly focusing on casinos, tourism, and convention hosting.

The report examined the achievements of three major entertainment complexes in Las Vegas:

MGM Grand Las Vegas

The MGM Grand Las Vegas serves as a model for the modern entertainment complex, seamlessly integrating a mega-hotel, a vast casino, world-class shows, and a full spectrum of recreational activities. 

First opened in 1993, it has undergone continual development to become one of the city’s most iconic landmarks.

Key facilities:

• MGM Grand Casino: Featuring a wide range of table games, slot machines, poker rooms, a large sports betting area, and high-end VIP lounges, the casino caters to visitors across all market segments.
• MGM Grand Garden Arena: A versatile indoor arena with a capacity of over 17,000, it hosts concerts, sporting events and prestigious ceremonies such as the Grammy Awards and Ultimate Fighting Championship (UFC) matches.
• Theatre and performances: Once home to Cirque du Soleil’s KÀ, one of the most successful permanent shows in Las Vegas history.
• Nightclubs and nightlife: Including the renowned Hakkasan Nightclub, a popular venue among younger tourists, regularly featuring world-class DJs.
• Michelin-starred restaurants and celebrity chefs: Dining options include Joël Robuchon, Morimoto Las Vegas, and Tom Colicchio’s Craftsteak.
• Conference and event facilities: Equipped with extensive space for international business meetings, conferences, and corporate events.

The Venetian Resort Las Vegas

The Venetian Resort Las Vegas is a grand-scale resort that intricately recreates the atmosphere of Venice, Italy, in the heart of the desert. 

It combines a five-star hotel, a world-class casino, art exhibitions, fine dining, luxury spas, and a replica of Venice’s iconic canals — offering visitors a theme park-like experience with an elegant twist.

Key facilities:

• Luxury accommodation: With over 7,000 rooms, the resort is divided into two main towers — The Venetian and The Palazzo — both lavishly decorated, blending artistic elegance with top-tier comfort.
• World-class casino: Spanning more than 120,000 square feet, the casino includes table games, slot machines, and exclusive VIP zones, all delivered with premium service.
• Grand Canal Shoppes: A luxury shopping destination designed to emulate the streets of Venice, featuring world-renowned brands, canal-side cafés, and a gondola ride experience complete with singing gondoliers.
• Sands Expo & Convention Centre: Covering over 2.25 million square feet, the centre hosts major international conferences and exhibitions, including the Consumer Electronics Show (CES) and Global Gaming Expo (G2E).
• Fine dining: Home to acclaimed restaurants such as CUT by Wolfgang Puck, Bouchon by Thomas Keller, and a variety of authentic Italian eateries.
• Entertainment venues: Including the popular TAO Nightclub, The Venetian Theatre, and the Atomic Saloon Show.

Virgin Hotels Las Vegas

Virgin Hotels Las Vegas is a prime example of a successful rebranding of a full-service entertainment complex. Officially opened in 2021, the property was developed on the site of the former Hard Rock Hotel — a long-standing Las Vegas icon — and was transformed through a joint effort by Virgin Hotels and the Curio Collection by Hilton.

The hotel focuses on blending luxury, modernity, and accessibility.

Key facilities:

• Luxury accommodation: Featuring over 1,500 rooms designed under the concepts of “Chambers” and “Suites,” the accommodation emphasises privacy and flexible functionality.
• Large-scale casino: Operated by Mohegan Gaming & Entertainment — the first Native American tribe to be granted a casino licence in Las Vegas — it offers a wide selection of slots, table games, and exclusive VIP areas.
• The Theater at Virgin Hotels: A 4,600-seat venue capable of hosting major concerts, special performances, and various live events.
• Event Lawn & Élia Beach Club: A 13,000-square-foot outdoor event space paired with a Mediterranean-style beach club, both popular among tourists and event organisers alike.
• Dining and bars: Home to more than 15 international restaurants and bars, including renowned names such as Nobu, Casa Calavera, One Steakhouse, and The Shag Room — each offering a distinctive atmosphere.
• Conference and exhibition centre: A spacious facility catering to government, private sector, and corporate exhibition events.

Strict regulation as the key to success

At the heart of Las Vegas’s success lies systematic oversight by the Nevada Gaming Commission (NGC), whose key responsibilities include:

• Monitoring all types of gambling activities in casinos
• Licencing and vetting operators
• Preventing underage individuals from accessing high-risk areas
• Providing education and raising awareness about gambling-related risks
• Combating criminal activities, such as money laundering

Citing data from the National Economic and Social Development Council (NESDC) in 2024, the report noted that Las Vegas generated revenue from its entertainment industry totalling US$55.1 billion (1.9 trillion baht). This income was derived from:

• Casinos
• Entertainment-based tourism
• Hosting global conferences and exhibitions

These revenues are reinvested into the city through taxation and development funds, supporting initiatives such as new infrastructure projects, public transport systems, parks, and Nevada’s public education budget.

“The Las Vegas model demonstrates that an entertainment complex need not be a hotspot for crime or vice. With strict, transparent regulatory frameworks and a clear strategy for reinvesting revenues into urban and social development, such venues can become powerful economic engines,” the report concluded.