Four cities were chosen for their strategic importance and tourism potential, Nikom Boonwiset, vice chairman of the special committee in charge of the so-called Thailand’s entertainment complex, told the nation’s media.
The four places for casino development in Thailand are Bangkok, Chon Buri, Chiang Mai, and Phuket, according to the special committee in charge of the country’s entertainment complex project. This occurred two months after a contentious law to authorize gambling in these “entertainment complexes?was approved by Thailand’s cabinet.
Thailand intends to build five to eight entertainment facilities throughout the nation, as was previously reported. The quantity of casino licenses, however, is still unknown.
According to Nikom, a member of parliament (MP) for the ruling Pheu Thai Party, the ?00 billion (US$14.9 billion) project is anticipated to create over 40,000 jobs and attract at least 50 million tourists annually. The project intends to generate substantial revenue for Thailand and accelerate its economic growth.
A number of foreign investors have already shown interest in the project. A five-star hotel, a top-notch shopping center, an amusement park, a sports arena, a convention center, and a sizable exposition center will all be part of each entertainment complex. The casino will occupy less than 10 percent of the entire space. Nikom emphasized that because of prejudice against the government, those opposed to the project have falsely claimed that the complexes are casino-centric.
Thailand’s gross gaming income might reach US$9.1 billion, according to Citigroup, an American multinational investment bank and financial services firm. This would place Thailand third in the world’s gaming market, behind Macau and Las Vegas, but ahead of nearby Singapore.
Amid stagnating prospects in Macau, international operators like Galaxy Entertainment Group, MGM Resorts International, Las Vegas Sands Corp., and Wynn Resorts are scouting potential in Thailand as a strategic alternative. At a recent cabinet meeting, the Entertainment Complex Bill—which describes the project framework—was originally supposed to be delivered. The presentation was rescheduled, though, since the Ministry of Finance is still collecting public comments until Friday via its website.
Concerns have been voiced by protest groups, who have sent Government House letters of opposition. Therefore, after public concerns have been addressed, the ministry is anticipated to make revisions to the document and offer it to the cabinet.
A contentious law to legalize gambling in specific entertainment complexes in an effort to increase tourism and generate employment was approved by Thailand’s cabinet in mid-January. The proposed law would permit the establishment of casinos in tourist complexes that also include hotels, shopping centers, theme parks, and water parks.
Although illegal betting is common in Thailand, gambling is now only permitted at a few state-run horse races and an official lottery. Before MPs in parliament debate and vote on the measure, it will be sent to the Office of the Council of State for drafting. This process is expected to take several months.
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