The new government in Thailand is exploring options for casino gambling at several locations across the country, including at least three in Bangkok, local media reports suggest. Last month, the country took a major step toward casino resort regulation. This happened after a draft casino bill was released which outlined key regulations related to integrated resorts that would be permitted to offer casino gambling.
Thailand retained the positive momentum with the casino legalization receiving overwhelming public support. During a recent public hearing on the proposal, the casino project received approval from approximately 80% of the participants.
Thai Government Presses Forward with Entertainment Complex Project Proposal
Earlier this week, Suksit Srichomkwan, the deputy secretary-general to the country’s Prime Minister for Political Affairs, quoted by the Nation, revealed that the government intends to push for legislation that permits the development of several large-scale integrated resorts.
Developed under the same model as the one operating in Singapore, the government anticipates that the “entertainment complex” projects will boost tourism while attracting investments worth billions of baht.
The efforts in Thailand do not come as a surprise, considering that countries across the globe capitalize on gambling as a way to generate extra tax revenue and boost tourism. In addition to proceeds from taxes and licensing fees, such large-scale projects provide new employment opportunities and provide significant economic stimulus.
The Country Considers the Development of Seven Integrated Resorts
In the words of Srichomkwan, Thailand will consider the development of a total of seven entertainment resorts. The government’s proposal is expected to include the development of three such venues in Bangkok, the country’s capital and home to nearly 11 million people.
Besides Bangkok, entertainment venues are expected to be developed in four other tourist provinces. The large-scale projects would offer luxury hotel accommodation, shopping outlets, entertainment venues and other amenities with casinos taking no more than 10% of the total area of each venue.
The Projects Represent Investments Worth Billions of Baht
Per the media report, citing sources close to the Ministry of Finance, the seven entertainment complexes are expected to represent an investment between 300 billion baht ($8.9 billion) and 500 billion baht ($14.9 billion). The minimum investment in each of the four projects outside Bangkok is expected to be 50 billion baht ($1.49 billion). On the other hand, each of the three casino resort projects in Bangkok would require an investment of a minimum of 100 billion baht ($2.97 billion).
Considering the size of the investments, should Thailand proceed with opening bids, it is likely to attract major gambling and hospitality operators. The list includes Wynn Resorts, Las Vegas Sands, as well as MGM Resorts International, among others, that have already explored options for expanding their operations to Thailand.
