Multi-billion-dollar Integrated Resort with Formula 1 Racing Circuit Proposed for Bangkok

September 23, 2024 Thailand Casino & Hotel Industry Updates

A new multi-billion dollar entertainment and real estate project is on the table for Bangkok’s Nong Chok district. The ambitious plan, proposed by SKYH Entertainment Group, aims to create a massive complex featuring a state-of-the-art casino, luxury hotels, and MICE (Meetings, Incentives, Conferences, and Exhibitions) facilities. Other exciting elements include a Formula 1 racing circuit and an indoor skiing area.

Covering approximately 1,000 acres and located just 10 kilometers from Bangkok’s Suvarnabhumi Airport, the development promises to offer a wide range of attractions. In addition to the casino and hotels, it will feature retail outlets, fine dining options, a medical center, a PGA-standard golf course, a theme park, a water park, a concert hall, and a facility for Thai boxing.

SKYH Entertainment Group, which has extensive experience in developing integrated resorts across Asia and Europe, believes this project will draw a diverse crowd, including tourists, business travelers, and families. The company estimates it will create around 60,000 jobs directly and indirectly, significantly boosting local employment.

To ensure the project’s financial viability, SKYH has pledged to provide minimum gambling tax guarantees and additional revenue sharing with the Thai government if it receives a license. The company plans to collaborate with renowned international brands such as Marriott, Universal Studios, and Disneyland.

If approved, this development could mark a significant step toward a vibrant and dynamic future for Thailand’s entertainment landscape.

“SKYH is dedicated to working closely with the Thai government to ensure the project’s success and its positive impact on the country,” the company stated in a document which was cited by Inside Asian Gaming. This development aligns with the Thai government’s recent moves towards approving casino legislation, aimed at enhancing the nation’s long-term economic prospects.

Under the proposed legislation, the government may grant up to three casino licenses in Bangkok and potentially seven nationwide, with initial license terms set for 30 years, subject to review every five years. Newly appointed Prime Minister Paetongtarn Shinawatra has also expressed her commitment to advancing a legalized casino industry in Thailand.