Casino resort construction in Thailand: Six firms interested

Prommin Lertsuridej declined to disclose the names of interested parties but affirmed that all have extensive experience in managing world-class entertainment complexes in several countries.

The Cabinet on Monday approved the draft Entertainment Complex Business Act in principle, paving the way for casinos in Thailand. The draft law aims to legalise the kingdom’s vast underground gambling industry, allowing the establishment of casino-entertainment complexes to generate tax revenue.

However, Prommin denied that gambling legalisation was the new law’s main purpose."The government would like to clear up a misunderstanding that casinos are the main focus of this project,” he said.

“In reality, casinos will only occupy 5% of the total area [of entertainment complexes]. We want to create comprehensive tourist destinations suitable for families, similar to successful models in Singapore, Macau and Las Vegas."

Each entertainment complex would comprise 4-5 star hotels with at least 5,000 rooms, convention and exhibition centres, an indoor sports arena with up to 16,000 seats, a world-class concert hall, shopping malls, duty-free shops, theme parks, Michelin-starred restaurants, and space for special activities.

Prommin said six companies have already met criteria for investment, including at least 10 billion baht in registered capital, ability to invest a minimum 100 billion baht, and business plans for comprehensive entertainment complexes.

Entertainment complexes would be located near tourism destinations on state-owned land spanning at least 300 rai, complete with transport connections and digital and financial infrastructure, he added.

"Thailand needs to act quickly as we will be competing with Osaka, Japan, which is about to open a similar resort,” Prommin said. “Businesses see high potential in Thailand due to its existing tourism and infrastructure.”

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