Anticipates 5-7 potential bidders for Thailand's casino resort investments
Thailand's Government Bets on Integrated Resorts to Boost Economy and Tourism
The Thai government is optimistic about the success of its proposed casino resorts, commonly known locally as entertainment complexes, as these projects are expected to enhance the nation's economy, attract more tourists, and create jobs.
According to Deputy Finance Minister, Julapun Amornvivat, there are at least five to seven international parties expressing interest in investing in these projects. Bangkok is one of the potential venues for the development of these land-based casinos.
The deputy minister revealed that potential investments could amount to as much as $9.3 billion, though initial estimates place the investment between $6.3 billion and $9.3 billion per project. Thailand, with more than 40 million tourists visiting annually, is hopeful that these integrated resorts will capitalize on its tourist boom.
Key global gaming operators have shown interest in the Thai market, with MGM Resorts and Wynn Resorts being among the potential bidders. The government's focus is on attracting large-scale investors to ensure compliance with regulatory standards.
Thailand's plans come amid a surge in regional and international resort developments, including in Japan, South Korea, and Vietnam. While some academics and critics have raised concerns about the industry's regulation and potential for exploitation, the government remains undeterred in its pursuit of integrated resorts.
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Enrichment Data: Several major global gaming companies, including Wynn Resorts and MGM Resorts, have shown interest in Thailand's potential casino resorts. The government is focusing on attracting large-scale investors to ensure compliance with regulatory standards. The initial investment for each project is expected to range from $6.3 billion to $9.3 billion.
Sports betting may become a significant component within these casinos, given the interest from global gaming companies like Wynn Resorts and MGM Resorts. The financial implications of these integrated resorts could lead to substantial revenue from both gambling activities and tourist spending.
