The Royal Turf Club of Thailand (RTCT) has unveiled ambitious plans for a sprawling THB200 billion ($5.8 billion) entertainment complex called “The Royal Siam Haven.”
According to The Nation, RTCT executive Patvee Surin revealed that a memorandum of understanding has already been signed with investment partners, though the exact location remains undisclosed. The project was announced during a club meeting on Saturday.
The Royal Siam Haven wants to become one of Asia’s premier entertainment hubs, featuring casinos, a horse racecourse, a six-star hotel, a golf course, a yacht club, luxury dining, a theater, a medical tourism hospital, and a learning center.
“This will be a truly world-class entertainment destination…We are aiming to make The Royal Siam Haven a major driver of Thailand’s economic and tourism growth.”
Patvee Surin
The RTCT is a sports club in Thailand, formerly located at its historic horse racing venue in Bangkok.
The project aims to be part of a broader push by the Thai government to develop large-scale entertainment complexes across the country. A recent draft bill stipulates that such complexes must include at least one casino and four additional businesses.
In an event held on Thursday of last week, former prime minister Thaksin Shinawatra introduced a 14-point strategy to improve the country’s economy, in his first public speech since returning to Thailand after 17 years abroad.
Included in this list was a proposal that casinos should represent 10 percent of the space in each complex, and that Thailand must attract investors in other related businesses, including theme parks and hotels.
Thaksin reckoned that each complex in Bangkok will require up to THB100 billion ($2.9 billion) of investment, while the figure drops to THB50 billion ($1.4 billion) in the provinces. “Thailand needs to compete with other countries in the region,” Thaksin commented.
Other prominent Thai entities, including U-Tapao International Aviation, Charoen Pokphand Group, and The Mall Group, are also planning their own entertainment complex projects.
The Thai government’s entertainment complex initiative has also attracted interest from major global casino operators, including Las Vegas Sands, Wynn Resorts, Caesars Entertainment, MGM China, and Hard Rock Café.
While the companies have agreed to the government’s stipulation that casinos occupy only 10-20 percent of the complex space but contribute 80 percent of total revenue, they are calling for more flexibility in choosing venues. Thai law currently limits entertainment complexes to five areas in the country.
