This week’s groundbreaking Thai Entertainment Complex Roundtable (TECR) has been described by local participants as a vital opportunity for all stakeholders, including international operators and those concerned about Thai casino legislation, to work together to achieve mutually agreeable outcomes.
In comments to Inside Asian Gaming, which is organizing the event at Grand Hyatt Erawan Bangkok this Thursday 5 June, Dr Narongchai Yaisawang, Research Scholar in Economics, Energy & AI, recognized the opportunities that entertainment complexes can provide but said detailed discussion is required to ensure socially responsible safeguards are put in place.
“Thailand stands on the cusp of a pivotal shift in how we attract visitors, investment and talent,” Dr Narongchai said.
“With clear, responsible legislation, Entertainment Complexes can channel billions of dollars into diversified tourism, catalyze high-skill job creation and broaden our fiscal base. Equally important is ensuring robust safeguards for social responsibility and transparent governance.
“The TECR Roundtable offers a timely platform for open, data-driven dialog among stakeholders. By working together, we can craft a policy framework that secures long-term, sustainable prosperity for the Thai people.”
Verapat Pariyawong, Advisor to the House Committee on Finance and Financial Institutions, and Founder of VLA Law Office, is another to have expressed reservations over the nation’s Entertainment Complex Bill unless a comprehensive legal framework is put in place.
Thailand can, however, learn from the experiences of existing jurisdictions and international IR operators. As announced last week, representatives of Galaxy Entertainment Group, Melco Resorts & Entertainment and Wynn Resorts will take part in TECR, providing an industry view on how they address issues around the social impact of casino gaming.
“Not only can Thailand benefit from the experience of others in the region, such as those in Singapore, Malaysia, Macau, or South Korea, but it can also attempt to set a new standard for soft power-driven, socially responsible and economically sustainable entertainment complex initiatives,” Verapat said.
“There are various elements requiring careful consideration, including a strong and sensible legal framework and the use of modern technologies, especially to ensure the interests of local citizens.
“I thank the organizers of the TECR Roundtable and its esteemed participants for the opportunity to share my views at this early stage of what I hope will become an enriching experience for all the stakeholders involved.”
Industry figures taking part in TECR have previously expressed their desire to find common ground with those who oppose Thailand’s Entertainment Complex Bill, citing the opportunity to use an evidence-based approach to achieve outcomes that are satisfactory to all.
TECR will be the only event of its type not only in Thailand but in any jurisdiction contemplating the introduction of entertainment complexes, or integrated resorts as they are commonly known across Asia. For the first time, global operators and major figures who have opposed the introduction of entertainment complexes will be in the same room at the same time, discussing and debating the issues that will make or break the government’s Entertainment Complex Bill, set to be debated in the Thai Parliament in July. It is hoped the event will educate, inform, and create new insights for all participants.
The event – which will be fully bilingual in Thai and English – has already drawn great interest from mainstream media in Thailand and will see widespread coverage in the Thai media with millions of the Thai public following coverage in Thai newspapers, digital TV and a range of online media platforms.
TECR will provide a platform for leading figures from each side of the debate to express their views in a professional and respectful environment while exploring how the industry implements best practice in other jurisdictions around the world.
For more information on TECR, including a full rundown of the day’s schedule, visit www.iagtecr.com.
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