At least five major global casino giants have expressed interest in investing in Thailand’s entertainment complex project, which is being pushed by the Thai government. The Entertainment Complex Act, if approved, will pave the way for legal casinos in Thailand.
The major players looking for a piece of the action are Las Vegas Sands Corporation, Wynn Resorts, Caesars Entertainment, MGM China Holdings Limited, and Hard Rock Cafe.
The investors seem to accept the conditions set by the government, such as the requirement for operators to be limited or public companies registered in Thailand with a paid-up capital of no less than 10 billion baht. The license duration would be 30 years, renewable for up to 10 years at a time, with a license application fee of 100,000 baht, an initial license fee of 5 billion baht, and an annual fee of 1 billion baht.
The entertainment business should include at least four types of entertainment other than the casino, according to the Entertainment Complex Act draft. The casinos estimate that only 10-20% of the complex’s area would be used for the casino, yet it would generate 80% of the total revenue.
The government’s plan to designate five specific areas for the establishment of entertainment complexes through a royal decree. However, the investors believe that they should be allowed to select the locations themselves to suit their needs.
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