The Royal Turf Club of Thailand (RTCT) is reportedly looking to invest TBH200 billion (US$5.9 billion) in an integrated resort project comprising a casino, horse racing facilities and luxury hotels as the government edges closer to approving the country’s first legal casinos.
According to local media group The Nation, a Memorandum of Understanding has already been signed between the RTCT and potential investors for a complex to be known as “The Royal Siam Haven”. It is not yet clear where such a project would be located if granted a license.
The plan was first revealed during a club meeting on Saturday, The Nation reports, with the complex to also feature a golf course, yacht club, luxury dining, a theatre, a medical tourism hospital and a learning center.
A draft casino bill released for public feedback in early August listed 10 business types that can form part of “integrated entertainment venues”, named as Department store; Hotel; Restaurant, nightclub, discotheque, pub or bar; Stadium; Yacht and Cruising Club; Gaming; Swimming pool and water park; Amusement park; Area for promoting Thai culture and OTOP products; Other businesses as specified by the Policy Committee.
News of the RTCT’s plan comes as the Finance Ministry released the details of a study showing that unsurprisingly shows up to 90% of customers in Thai casinos would be locals.
It also suggests that of 10% of visitors coming from international destinations, around 90% would be from mainland China. Inside Asian Gaming notes that the Ministry’s forecast is at least party based on statistics from Macau, as per The Bangkok Post, which may have skewed such findings.
The study predicts that the number of people who would engage in casino gambling would be 4.8 million based on 2022 population and visitation figures. Such visitation is based on the assumption that 10% of the target population would gamble, which in 2022 comprised 37 million qualified Thai residents and 11 million foreign tourists.
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