An emerging real estate and entertainment company with operations in Asia and Europe is proposing a multi-billion development in Bangkok’s Nong Chok district that would, if approved, include a new state-of-the-art casino, multiple five-star hotels and MICE facilities plus a Formula 1 circuit and indoor skiing, Inside Asian Gaming has learned.
Other features of the sprawling mixed-use development, located within 10km of Bangkok’s Suvarnabhumi Airport, would include retail and fine dining, a medical center, horse racing, a PGA standard golf course, theme park, water park, concert hall and Thai boxing facility.
The company behind the proposed development is SKYH Entertainment Group, which says it has extensive experience developing and operating casinos and integrated resorts in Asia and Europe.
The proposed development, covering around 1,000 acres, is described as “a holistic entertainment and leisure experience, attracting a diverse range of visitors, including tourists, business travelers and families.”
According to details seen by IAG, SKYH Entertainment Group also claims to have a “solid financial structure” and is willing to provide minimum gambling tax guarantees and additional revenue sharing payments to the Thai government if awarded a license.
Its plans, the company adds, include collaborations with international brands like Marriott, Formula 1, Universal Studios and Disneyland, providing an estimated 60,000 jobs directly and indirectly and attracting “hundreds of thousands” of tourists annually.
“SKYH is committed to working closely with the Thai government to ensure the project’s success and its positive impact on Thailand,” it states in a document seen by IAG. “The company believes that this development represents a major step forward in realizing the vision of a vibrant and dynamic Thailand.”
The proposed development comes with the Thai government on the verge of approving casino legislation in a bid to boost the country’s long-term economic prospects. A draft bill that continues to work its way through parliament calls for licensees to be granted an initial 30-year license term, reviewable every five years, with recent reports suggesting up to three licenses could be granted in Bangkok alone and up to seven nationwide.
Newly appointed prime minister Paetongtarn Shinawatra has also confirmed her intention to continue pursuing a legalized casino industry.
Parties interested in learning more about SKYH Entertainment Group’s proposal are asked to contact Jack Lee at jacklee@skyhentertainment.com or Harmen Brenninkmeijer at hbmeijer@theglobalchain.com.
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