According to Prommin Lertsuridej, the Secretary-General to the Prime Minister of Thailand, seven major international investors have expressed strong interest in the casino resort complex planned to launch in Thailand in 2029.
These investors plan to invest in complexes in locations including Bangkok, Chiang Mai, Phuket, and Pattaya.
Although Prommin did not disclose the identities of these investors, Melco Resorts & Entertainment from Macau has recently established an office in Bangkok and plans to develop large-scale resort projects in Thailand. Melco Resorts & Entertainment is one of the major players in the global gaming industry.
The Thai Cabinet approved a draft on Monday that paves the way for the establishment of entertainment complexes and the legal operation of casinos in Thailand.
Prommin stated that the draft will soon be submitted to the Parliament for consideration, and it is expected to take 7 to 9 months to officially become law.
According to the draft, the government will establish a policy committee led by the Prime Minister, responsible for deciding the locations of the complexes and the number of operating licenses to be issued. Prommin said: "These complexes will be built on state-owned land, with each complex covering about 300 rai (approximately 480,000 square meters).
Each complex will include four to five hotels, totaling about 5000 rooms, a large amusement park, and an international convention hall, and will also serve as a venue for concerts and other events throughout the year."
Prommin further explained that casinos will only occupy 3%-5% of the total area of the complexes. Each complex is expected to involve an investment of over 100 billion Thai Baht, with a construction period of three to five years, but operations can begin in the third year. The first complex is expected to open in 2029, one year later than the first casino in Osaka, Japan.
However, Natthaphong Ruengpanyawut, the leader of the opposition People's Party, expressed concerns about the social impact of the casinos. He pointed out that the government has not proposed specific measures to address these issues. He called on the government to clearly state how to compensate those adversely affected by legal gambling and to ensure transparency in the issuance of operating licenses to avoid conflicts of interest.
According to the draft, the operating licenses for the entertainment complexes can last up to 30 years, and operators must pay a registration fee of 5 billion Thai Baht and an annual fee of 1 billion Thai Baht.
Thanathorn Juangroongruangkit, chairman of the Progressive Movement, believes that these projects may not have a substantial impact on enhancing national competitiveness in the short term.
