Entertainment complex to generate 238 billion baht for Thailand: PM
Thailand's entertainment complex is projected to generate up to 238 billion baht in revenue, according to Prime Minister Paetongtarn Shinawatra, who made the assertion on Thursday.
She explained that the recently approved Entertainment Complex Bill aims to create man-made destinations designed to boost tourism year-round.
To date, over 80,000 individuals have participated in public hearings about the bill, with 80% expressing support for it, she said. The bill will be presented to Parliament later for further consideration.
Paetongtarn emphasised that the casino will comprise only 10% of the entire entertainment complex. Instead, the complex will feature a large concert hall with a 50,000-person capacity, an indoor stadium, a water park, hotels, and restaurants.
The prime minister anticipates that the complex could generate between 19 billion and 238 billion baht, with government revenue ranging from 12 billion to 39 billion baht.
The government expects to collect 3.26 billion baht annually from casino taxes, while taxes on other businesses within the complex are projected to generate between 8 billion and 35 billion baht.
Additionally, the prime minister anticipates that foreign arrivals will increase by 5-10% annually, creating new job opportunities for Thai citizens.
“The government will collect taxes from both casinos and other businesses to support national development,” Paetongtarn said.
She added that strict regulations would be put in place to oversee the operations of the entertainment complex and address gambling addiction concerns.
The premier also noted that the entertainment complex will provide venues for family-friendly events and activities, encouraging foreign visitors to travel to Thailand year-round.
Regarding the opposition from MPs, senators, and protesters, Paetongtarn said the government is open to feedback and has already discussed the bill with coalition party leaders.
She emphasised that the bill’s passage and any potential revisions will be up to Parliament to ensure a balance between economic benefits and the mitigation of social impacts. For instance, the bill proposes that Thai citizens must have a deposit of at least 50 million baht in order to enter the casino.
However, Paetongtarn said that no specific timeline has been set for the bill's passage through the House of Representatives and Senate.
“The entertainment complex represents a significant opportunity for the country,” she said, adding that people should not focus on the casino alone.
