Krungsri Securities (KSS) highlighted an optimistic outlook for the progress of the establishment of the Entertainment Complex, citing significant interest and investments from various entities.
Domestically, notable parties such as the Royal Turf Club of Thailand under Royal Patronage, Siam Park City Company Limited (Siam Amazing Park), U-Tapao International Aviation Company Limited (a collaboration involving BA, BTS, and STEC), The Mall Group, and Proud Group have expressed interest.
Internationally, entities including MGM Resorts International, Galaxy Entertainment Group, Sands China, Wynn Macau, Las Vegas Sands Corporation, and a capital group from South Korea are also keen on the project.
Anticipated to encompass five locations, the Entertainment Complex in Thailand is set to include two complexes in Bangkok, one in Pattaya, one in Phuket, and one in Chiang Mai.
Upon the legalization of casinos in Macau and Singapore, the introduction of an Entertainment Complex led to a surge of 17% and 20% in tourist numbers, respectively. Building on the enthusiasm displayed by capital groups from both domestic and international spheres towards investing in the Thai project, the analyst envisioned the initiative to serve as the catalyst for exponential growth within the Thai service sector.
This development gives a positive momentum for stocks namely AOT, BTS, VGI, BJC, STECON, ERW, BA, and MBK. The analyst further recommended a speculative approach towards AOT, BTS, ERW, BA, and VGI in the short term.
