Singaporean casino operator interested in investing in Thailand

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INVESTMENT
Singaporean casino operator interested in investing in Thailand
SUCHAT SRITAMA
The Nation
Singapore


Marina Bay Sands Singapore, the integrated resort that is expected to be a model for future investment including Thailand.

SINGAPORE: -- Marina Bay Sands Singapore, the flagship integrated resort of Las Vegas Sands Corp, is interested in running a casino and convention complex in Thailand.

"We want to invest in Thailand if we are given permission. It must be the [same] kind of integrated resort as in Singapore," Krist Boo, vice president for communications, said yesterday.

The casino would be combined with a venue for the meetings, incentive travel, conventions and exhibitions (MICE) business.

However, it all depends on the Thai government and the decision of the Thai people.

The group spoke of its intention to Thai journalists visiting Singapore at a time when the Thai government reportedly is considering the issue.

"We have been searching for new investment not only in Thailand but also all places. Although Thailand has no casino act yet, if this about to happen, it is very interesting," she said.

The media have reported that Sands Corp visited Thailand and talked with the government about developing an integrated project, but was turned down.

While the government insists it will not allow a casino to be built in the country, some groups are pushing for one, reasoning that it could help reduce illegal gambling.

The Finance Ministry is revising the master plan for a vast plot of land used by the State Railway of Thailand, which is expected to become an entertainment complex.

Boo said her group wanted to be in Thailand because it is one of the most attractive tourist destinations.

Thailand is a perfect location for such an integrated resort, consisting of an MICE venue, entertainment facilities, a shopping centre and a gaming emporium.

"For Thailand, we would love to have an integrated resort at a place close to the city centre or financial centre, near the international airport," she added.

Sumate Sudasna, president of the Thailand Incentive and Convention Association, said casinos were just a small part of the entire tourism picture and could attract only specific groups, not every tourist.

"Thailand is now standing at the forefront with a global scale of nearly 30 million visitors. Do we really need to have that kind of thing or should we focus on our existing identity - Thai culture - and continue promoting it for tourism?" he said.

However, investors are looking at all places that could make income, he said.

According to Boo, the Singaporean government in 2005 awarded exclusive licences for two casino operators - Marina Bay Sands and Resort World at Sentosa Island. Both licences expire in 2017. The Singaporean government is considering whether to continue giving exclusive deals or grant more permits to new investors.

Source: http://www.nationmultimedia.com/business/Singaporean-casino-operator-interested-in-investin-30263619.html


-- The Nation 2015-07-03

[Somtamnication]

I am sure that investors from Dubai are also interested!

[ezzra]

Really? they would be interested? NO.. who will be interested in investing in casinos in a 70 millions

gamblers country? what a folly, they will lose money in Thailand for sure...

Hey Singapore, take a number and stand in line.....

[ChrisY1]

Can't see the Thais giving up the rights to a casino on their own turf....while the Singapore operation is obviously sharp, anything similar in Thailand would be a complete shambles.....the Thais would turn a casino into a huge money laundering factory....government officials, military, police personell and the well to do, would use it as a trading bank!!

[Barin]

Really? they would be interested? NO.. who will be interested in investing in casinos in a 70 millions

gamblers country? what a folly, they will lose money in Thailand for sure...

Hey Singapore, take a number and stand in line.....

Better invest in Macao

[sammygood]

can they not allow one giant big casino per province ?

only have to pay 100 million baht in bribes each year

[wabothai]

The vultures are circling above Thailand.

[nithisa78]

Open a homeless shelter. See how you'll thrive.

[Srikcir]

LVS also built an owns Macau casino opened on May 18, 2004 at a cost of $240 million. All of the mortgage bonds that were issued to finance construction were paid off in one year!

Surely Prayut must trust the Chinese.