Thailand’s Deputy Finance Minister said Friday that there were only between five and seven global casino operators in the mix to develop the country’s first entertainment complexes ahead of a parliamentary review into the draft casino bill.
Julapun Amornvivat told The Bangkok Post that although the global pool of operators was limited, all had expressed an interest in Thailand as a “a promising investment destination”.
The minister’s comments come after he met with representatives of Wynn Resorts and MGM Resorts last week – two of the companies considered to be leading contenders to win a casino license. A recent analysis by Inside Asian Gaming came to a similar conclusion as Julapun, finding that there would likely be six international IR operators submitting a bid should the entertainment complex bill be passed into law.
“There are only about five to seven top-tier global operators in this sector, and they all view Thailand as a promising investment destination,” Julapun told The Bangkok Post.
“Bangkok, in particular, is seen as highly suitable, with the potential to support more than one entertainment complex.”
He added that the entertainment complex bill will be first priority when parliament resumes in early July as the government looks to promote its tourism agenda.
Potential investment in each approved casino site was expected to be between THB200 billion and THB300 billion (US$6.2 billion and US$9.3 billion), up from earlier estimates of around THB100 billion (US$3.1 billion). The top end of that range, if realized, would place an integrated entertainment complex in the realm of MGM’s IR development in Osaka, Japan, which broke ground last month.
Julapan reiterated that the number of licenses issued would likely be between three and five, aided by Thailand’s existing tourism infrastructure.
“Thailand welcomes nearly 40 million international tourists each year and boasts stunning natural attractions,” he said.
While the government continues to push its casino dream, Thailand’s entertainment complex bill continues to divide opinions with a special Senate Committee currently conducting a comprehensive review that could play a key role in defining the final details of the bill.
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