Four potential cities named for Thai casino developments
Nikom Boonwiset, vice-chairman of the special committee, said the cities were selected for their tourism potential.
Thailand.- Nikom Boonwiset, vice-chairman of a special committee overseeing Thailand’s proposed casino legislation, has said that Bangkok, Chon Buri, Chiang Mai, and Phuket could become the first four locations to host entertainment complexes with casinos.
According to the Bangkok Post, Boonwiset, who is also an MP from the Pheu Thai Party, said that the THB500bn (US$14.8bn) project is expected to draw at least 50 million visitors each year and generate over 40,000 jobs. He said several international investors are interested in the project.
Each entertainment complex would include a five-star hotel, a shopping mall, amusement park, sports arena, a convention hall, and a large exhibition centre. Less than 10 per cent of each complex would be for a casino. Boonwiset said that critics of the project tende to focus only on the casino aspect.
The draft bill to legalise casinos in Thailand was to be debated at a cabinet meeting on Tuesday but the debate has been put back to await the conclusion of a public hearing today (March 14). This was after groups camped outside Government House to protest against the bill. A survey conducted by the National Institute of Development Administration (Nida) found the majority of Thais to be opposed to casinos.
Analysts at Citigroup have forecast that casinos in Thailand could generate US$1.91bn annually in gross gaming revenue (GGR). That would surpass the GGR of Singapore’s two casinos and place Thailand “only behind Macau and Las Vegas.”
MGM Resorts International and Galaxy Entertainment Group have already shown interest. Investment group CLSA has said that Las Vegas Sands and Wynn Resorts are also interested, while The Royal Turf Club of Thailand (RTCT) plans to invest THB200bn (US$5.88bn) in an IR with a casino.
