Interest from Thai and international investors
Tangsetakiji reported that other prominent local companies such as Utapao International Airlines (UTA), Charoen Pokphand (CP) Group and The Mall Group are also planning entertainment venues in Thailand.
UTA’s project is aimed at supporting the growth of the Eastern Economic Corridor (EEC) and U-Tapao Airport, while CP Group plans to develop a mixed-use facility in Bangkok’s Makkasan district along the EEC’s high-speed rail project linking three major airports – Don Mueang, Suvarnabhumi and U-Tapao.
The mall group’s complex will be part of a 50 billion baht mixed-use development in Bangkok’s Bang Na district and is due to partially open next year.
The group also aims to develop entertainment facilities as part of a 20 billion baht mixed-use development called BLÚ Pearl in Phuket’s Kathu district.
Internationally, five major players have expressed interest in entering Thailand’s entertainment complex market: Las Vegas Sands Corporation, Wynn Resorts, Caesars Entertainment, MGM China Holdings Limited and Hard Rock Cafe.
The companies agree to government rules that casinos should only occupy 10-20 percent of a complex’s area but account for 80 percent of total revenue, but they want the government to give them the freedom to choose their facilities. Under Thai law, entertainment facilities will initially be limited to five regions in the country.