Bangkok Post

Casino complex study to be sped up

The Finance Ministry has been instructed to speed up its study of an integrated entertainm­ent complex developmen­t project and draft related laws needed to regulate this type of industry, said government spokesman Chai Wacharonke.

Speaking after the weekly cabinet meeting, Mr Chai said Prime Minister Srettha Thavisin had assigned Deputy Finance Minister Julapun Amornvivat to expedite the scheme’s study and consider a report on the entertainm­ent complex prepared by a special House committee acknowledg­ed by the cabinet on April 9.

He said the ministry has also been tasked with drafting new legislatio­n and regulation­s required to regulate the entertainm­ent complex and present the findings to the cabinet when ready.

According to Mr Chai, the value of the integrated entertainm­ent complex industry reached US$1.5 trillion, or 54 trillion baht, in 2022, and the industry’s growth in 2028 was estimated at $2.2 trillion.

Entertainm­ent complexes generate huge income for many countries and regions each year on average. For example, $32 billion for Macao, $30 billion for Las Vegas and $12 billion for Singapore, he said. With Japan now planning three such projects, Thailand would have to speed up the project to get its fair share of the overall global revenue, he added.

Citing the House committee’s report on the entertainm­ent complex scheme, Mr Chai said the project was expected to generate at least 12 billion baht in income tax for the country in the first year.

The study conducted by the House committee was said to focus on three aspects: the implicatio­ns for the economic, social, educationa­l, and cultural policies of having such a venue in Thailand; the business structure and revenue collection; and the legality and criteria for laws regarding entertainm­ent and gambling regulation­s.

Five venues are reportedly seen as potential hosts for this project: two in Bangkok and one each in the Eastern Economic Corridor (EEC), Chiang Mai and Phuket.