6 giant companies invest hundreds of billions to develop Entertainment Complex

Ready to invest over a hundred billion baht to elevate Thai tourism to the world stage. This project will not only generate income but also boost the economy by setting a target for GDP growth of 0.7% after opening, creating over 20,000 jobs and emphasizing strict regulatory measures.

Entertainment Complex, a new model for Thailand

Dr. Prommin Lertsuridej, Secretary-General to the Prime Minister, revealed that after the Cabinet approved the draft of the Integrated Entertainment Act, the government has planned to develop a special tourism area using a model similar to the EEC project to create a world-class destination and change the image of the project from a casino-focused one to a family-friendly tourist attraction.

“The casino will be only 5% of the total area. The project will include everything tourists want, from 4-5 star hotels with more than 5,000 rooms, an international conference center, an indoor stadium, a concert hall, a theme park, an art and cultural center, Michelin-starred restaurants and special event spaces,” said Dr. Prommin.

Foreign capital interested in investing in giants

Six global giants have expressed interest, each of whom must have a minimum registered capital of 10 billion baht and an investment of no less than 100 billion baht, along with a comprehensive business plan and experience in managing international entertainment venues.

The area to be developed must be no less than 300 rai, be state land with complete transportation and public utilities, and be close to important tourist attractions to attract tourists from around the world.

Thai potential to fight Japan

Dr. Prommin pointed out that Thailand is highly prepared in terms of tourism and infrastructure. “Osaka, Japan, is accelerating the development of the same project, but Thailand has the potential to compete. Some have even proposed building an arena with a capacity of 16,000 seats, which is the largest in the region.”

Positive impact on the economy

Mr. Chulaphan Amornvivat, Deputy Minister of Finance, said that the project is expected to increase GDP by 0.2% during construction and 0.7% after opening, and will help reduce the gap between high and low seasons by 13%, as well as create opportunities for SMEs and develop infrastructure in the area.

Strict regulatory measures

To prevent potential issues, the project will have a three-tiered regulatory system: a high-level policy committee, a regulatory board, and a dedicated regulatory office. Regulatory measures will include anti-money laundering, Thai player protection, and a Responsible Gaming system to ensure transparency.

Project Timeline

The draft bill is currently under review and is expected to enter the House of Representatives and take nine months to consider. If it passes, the process of establishing a regulatory agency, selecting investors, and starting construction will begin within the next three to four years.

“This project is an important step in upgrading Thai tourism, generating income, developing infrastructure and increasing economic opportunities for Thais in a sustainable manner,” said Mr. Chulaphan.

Data source: Thansettakij