Thailand's initiative to establish legal casino gambling as part of broader entertainment complex projects continues to gain momentum, with the Deputy Finance Minister Julapun Amornvivat confirming that the sluggish global economy is unlikely to derail these long-term investments.

Following a recent cabinet approval of the draft entertainment complex bill, Mr. Julapun indicated that numerous investors have expressed a keen interest in the project, seeing Thailand as an attractive alternative to other international markets, notably Japan.

Mr. Julapun highlighted the prevailing interest from less than ten major global investors involved in such projects, all of which represent considerable financial capabilities.

The Deputy Finance Minister also dismissed concerns regarding potential money laundering activities associated with casinos, emphasizing that the substantial financial commitments required for these projects—amounting to hundreds of billions of baht—would deter investors from illegal actions that could jeopardize their licenses.

The Thai investment landscape for entertainment complexes is further buoyed by the country's natural beauty, which draws approximately 40 million tourists annually, accompanied by a well-structured transport infrastructure.

This combination is anticipated to enhance visitor spending and provide a robust foundation for economic growth, which the government aims to sustain at a 3% rate.

Legislative efforts are underway to expedite the approval process of the draft bill, with Mr. Julapun indicating a goal to pass it through parliament within the current session, potentially by April.

The overall timeframe for the legislative process and subsequent project approvals is expected to take approximately a year.

Upon the law's enactment, a regulatory office will be created to oversee operations, and a Policy Committee will be charged with determining locations and the number of entertainment complexes allowed.

Initial construction sites are anticipated to include state-owned or government properties.

The estimated land requirement for each complex stands at around 300 rai, with the casino component capped at 10% of the total land area.

In a departure from the traditional casino models observed in places like Las Vegas, which rely heavily on extensive infrastructure investments in desert locales, the Thai model will focus on integrating these complexes within existing tourist hotspots, aiming to increase average visitor expenditure.

Mr. Julapun noted that after the official law is in place, initial construction activities could commence within three years.