Mr. Chulapan, Deputy Minister of Finance of Thailand, revealed that the legislation for the integrated entertainment center (including legal casinos) has been drafted by his department and is awaiting submission to the cabinet for review according to procedural steps.
Chulapan stated that the integrated entertainment center project is seen as a turning point for Thailand, as it will bring new income from investments and consumption, with the funds during the construction period expected to help increase Thailand's investment growth by over 0.2% per year and domestic spending by more than 0.7% per year.
Most of the project's revenue mainly comes from hotels, sports, and various entertainment venues, with the casino being just one component.
He further stated that the drafted law will be similar to the Eastern Economic Corridor (EEC) law, which can promote the project's rapid success and covers many other related laws.
After the New Year, he will accelerate the project and establish a committee to review the project details, including site selection, as the government does not want investors to lock in the construction specifications.
Chulapan added that he believes the project will help generate more income for Thailand, with an investment amount of about 100 billion Thai Baht. He also mentioned that Singapore, which has a similar project, generates an annual revenue of 50 billion Thai Baht, with an average income per visitor of 20,000 Thai Baht.
