Public-private cooperation among keys to entertainment complex success

Speaking at the Thai Entertainment Complex Roundtable (TECR) in Bangkok, George Tanasijevich emphasised that entertainment complexes can serve as a vital driving force for the Thai economy. 

He noted that casinos are among the facilities that generate revenue for such complexes. While casinos may not always provide the most attractive financial returns, they contribute to making an entertainment complex exciting and appealing, he explained.

Tanasijevich stressed that close alignment and integration between operators and the government are crucial to ensuring maximum benefits in terms of economic growth, employment opportunities, and tourism expansion.

“This is an essential starting point for any kind of dialogue,” he said, “It's a way that both sides can understand each other and work towards a mutually satisfactory environment where the right decision can be made.”

Additionally, he highlighted that a well-structured communication plan is essential in helping the public understand what an entertainment complex entails, the benefits it can bring, and how to manage the risks associated with casino-style gaming.

Lessons from Singapore: a path to success

Tanasijevich outlined Singapore’s operator selection process as an exemplary model. It began with informative meetings, inviting leading operators and investors to learn about the project and visit various locations. 

The initiative also involved creating an online forum for Q&A exchanges and gathering feedback through requests for information (RFIs) before proceeding to requests for proposals (RFPs).

This approach enabled government authorities to obtain valuable feedback from operators, leading to significant adjustments in the RFP. For instance, instead of prioritising competition based on land pricing, the focus shifted towards evaluating project concepts.

Citing research from Yale University, Tanasijevich pointed out that in markets where gambling is already present, the introduction of integrated resorts does not necessarily lead to a significant increase in gambling-related issues—in some cases, problems may even decline.

The rationale behind this is that regulated casino industries implement safeguards, social protection measures, and allocate budgets to raise awareness and provide direct assistance to those affected.

One of Singapore’s key mechanisms is the "entry levy" imposed on its own citizens, acting as a deterrent to prevent individuals without financial capacity—or even those with means—from engaging excessively in gambling activities.

Five key recommendations for Thailand’s success

Tanasijevich provided five crucial recommendations for Thailand as it moves forward with its entertainment complex project:

• Learn from international experiences – Authorities should engage with regulatory bodies in other countries to understand global best practices and adapt them to Thailand’s specific context.
• Develop a competitive legal framework – Legislation should incorporate international best practices while adapting to local conditions to ensure effective operations, appropriate safeguards, and a win-win situation for all stakeholders.
• Strong political leadership and public engagement – The government must take an active role in educating the public about the project, including its risks and benefits, to build informed understanding and prevent misinformation from shaping public opinion.
• Attract leading investors – To ensure the success of the project, Thailand must attract top-tier investors, developers, and operators. These stakeholders require certainty and clarity regarding regulatory details.
• Maintain a balanced approach – Striking the right balance between government and public interests and commercial considerations is essential. A lack of balance could lead even the best companies to withdraw, causing Thailand to miss out on critical opportunities.

“I hope Thai authorities will engage people with all the regional stakeholders so that you can make the right decision,” Tanasijevich said, “I think your future is very bright here in Thailand and I wish you all the best in making this decision.”