Royal Turf Club of Thailand to Invest 200 Billion Baht for Entertainment Complex

August 27, 2024 Thailand Industry Updates

The Royal Turf Club of Thailand (RTCT) is set to embark on an ambitious project, investing 200 billion baht (approximately US$5.88 billion) to develop a vast entertainment complex named “The Royal Siam Haven.” This new venture aims to establish Thailand as one of Asia’s premier entertainment destinations.

RTCT executive Patvee Surin revealed to Thansettakij, a media arm of The Nation Group, that a memorandum of understanding has been signed with investment partners. Although the exact location of the complex has not been disclosed, Surin confirmed that it will cover a substantial area. The Royal Siam Haven will feature a diverse range of attractions, including a casino, a horse racecourse, a medical tourism hospital, a six-star hotel, a golf course, a yacht club, a theatre, a learning center, and luxury dining options.

The Royal Siam Haven represents a significant economic stimulus for Thailand. It joins a growing list of entertainment complex projects backed by both Thai and international investors. Thansettakij also reports that notable local entities such as U-Tapao International Aviation (UTA), Charoen Pokphand Group (CP Group), and The Mall Group are gearing up to open entertainment complexes in Thailand.

UTA’s initiative supports the Eastern Economic Corridor and U-Tapao Airport, while CP Group’s project aligns with the high-speed rail development connecting Bangkok’s three major airports. The Mall Group plans a mixed-use project in Bangkok and another in Phuket.

Major international firms such as Las Vegas Sands, Wynn Resorts, Caesars Entertainment, Hard Rock Café, and MGM China Holdings have expressed interest in Thailand’s entertainment market. These companies are prepared to adhere to the draft bill’s stipulation that casinos must make up only 10-20% of the total complex space but are pushing for flexibility in venue selection.

On August 22, 2024, former Prime Minister Thaksin Shinawatra emphasized the need for significant investments in entertainment complexes to ensure Thailand’s competitiveness. During the “Vision for Thailand 2024” dinner event hosted by the Nation Group, he pointed out that complexes in Bangkok could require up to 100 billion baht each, while those upcountry might need at least 50 billion baht.