7 major investors eyeing Thai casino projects
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7 major investors eyeing Thai casino projects

Entertainment complexes expected to start opening across country by 2029

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International investors have expressed interest in the casino-entertainment complexes that Thailand hopes to open starting in 2029, according to Prommin Lertsuridej, secretary-general to the prime minister.

He said that as many as seven major global players appear keen to invest in complexes in locations that include Bangkok, Chiang Mai, Phuket and Pattaya.

He did not identify them, but Macau-based Melco Resorts & Entertainment, a major player in the global gaming industry, recently opened an office in Bangkok to pursue large-scale resort development in Thailand.

On Monday, the cabinet approved in principle a bill paving the way for setting up entertainment complexes and allowing casinos to operate legally within their grounds.

The bill is expected to be forwarded to parliament for consideration shortly, Dr Prommin said on Wednesday, adding that the deliberation is likely to take 7-9 months before it becomes law.

Under the bill, a policy board will be set up and chaired by the prime minister. It will be responsible for deciding where the complexes will be built and how many licences will be granted.

“Construction will take place on state-owned land,” said Dr Prommin. “Each complex will cover about 300 rai. A complex will house four or five hotels totalling 5,000 rooms, a large amusement park and an international convention hall. It will also serve as a venue for concerts and other activities all year round.

“The casino will only take up about 3-5% of the complex’s space. An investment of more than 100 billion baht would be required for each complex. Construction will take three to five years, but it could be opened for service in the third year of construction.”

The first complex is expected to open in 2029, before Japan’s first casino starts doing business in Osaka in 2030, he said.

Natthaphong Ruengpanyawut, leader of the opposition People’s Party, expressed concern about the social impact of casinos, saying the government has failed to come up with concrete measures to address these concerns.

He said the government has not provided clear details regarding the funds needed to compensate those affected by any adverse impact from legalised gambling. He also called on officials to ensure transparency in the granting of licences to operators to avoid any conflict of interest.

Under the bill, an entertainment complex licence would be valid for up to 30 years. The operator must also pay 5 billion baht to register, plus an annual payment of 1 billion baht.

Thanathorn Juangroongruangkit, chairman of the Progressive Movement, said the projects would not do much to improve the country’s competitiveness in the long term.

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