The Thai Government Cabinet has approved a report from a special house committee regarding the possibility of establishing entertainment complexes with casinos in Thailand.
During their weekly meeting on Tuesday, the Cabinet tasked the Finance Ministry with reviewing the feasibility report to assess the potential implementation of the committee’s proposal, a report by The Nation states.
The Finance Ministry has been given a 30-day period to complete the study.
Last month, a House panel led by Deputy Finance Minister Julapun Amornvivat prepared the report and presented it to the House of Representatives for approval.
The report suggested that allowing the establishment of such entertainment complexes could stimulate the economy and discourage Thais from patronizing illegal casinos throughout the country.
According to the report from the House panel, these entertainment complexes would include casinos, hotels, shopping malls, and amusement parks, each requiring a minimum investment of THB100 billion ($2.7 billion).
The study that was submitted to the Thai parliament also suggests that once integrated resorts (IR) with casinos are established, there is a possibility for a significant increase in average tourist expenditure, potentially by 52 percent to THB65,050 ($1,790) per trip.
Tourism revenue could then be boosted by approximately $12 billion, while the additional income generated could enhance the country’s gross domestic product (GDP) growth by 1.16 percentage points.
A top analyst expressed confidence that these complexes would generate employment opportunities, promote tourism, and reduce illegal gambling activities.
A recent dispatch by Maybank Securities forecasts that Thai entertainment complexes featuring casinos could yield approximately THB187 billion ($5.14 billion) in annual revenue, equivalent to roughly 1 percent of Thailand’s GDP.
