Casino Giants Eye Thailand’s ฿100B Entertainment Complex Plan

Several multinational corporations are eyeing opportunities to develop casino resorts as part of the Thailand Entertainment Complex project, says the Prime Minister’s secretary general.

Thailand, Entertainment Complex Plan, Prime Minister, casino resorts

Thailand has attracted interest from six multinational corporations looking to build casino resorts, according to the Prime Minister's secretary general.

While the companies remain unnamed, they are described by Prommin Lertsuridej as having extensive experience managing world-class entertainment venues globally.

This follows the Cabinet's recent approval in principle of the Entertainment Complex Business Act, designed to legalize and regulate Thailand's substantial underground gambling sector. The goal is to establish integrated entertainment complexes, generating tax revenue and boosting tourism.

However, the government emphasizes that casinos will be a small part of these complexes, occupying only about 5% of the total area. The focus is on creating family-friendly tourist destinations similar to those in Singapore, Macau, and Las Vegas.

These complexes will feature 4-5 star hotels (with at least 5,000 rooms), convention and exhibition centers, a large indoor sports arena, a concert hall, shopping malls, duty-free shops, theme parks, high-end restaurants, and space for various activities.

The six interested companies meet investment criteria, including a minimum of 10 billion baht in registered capital and the ability to invest at least 100 billion baht. They also possess comprehensive business plans for such developments.

Sites for the complexes will be located near tourist destinations on state-owned landi, with good transport, digital, and financial infrastructure.

The government aims to move quickly, citing competition from similar developments in Osaka, Japan. They believe Thailand's existing tourism infrastructure makes it an attractive investment location.

It was earlier reported that MGM, Genting, Galaxy Entertainment want to build entertainment complexes in Thailand, aiming to capitalize on Southeast Asia’s second largest economy. The other three remained unnamed.

The Finance Ministry projects the project will increase national GDP by 0.2% during construction and 0.7% once operational. It is also expected to create 20,000 jobs and increase tourist arrivals during the low season by 5-10%, leading to a 13% rise in tourism revenue.