Thailand's Entertainment Complex: Learning from Japan's Integrated Resort Experience
Tension in Asia: On the Precipice of Conflict
Thailand's Entertainment Complex project is teetering on a precipice, with its fate hanging in the balance of decisions yet to come. But it's crucial to separate fact from fiction - the idea that the legislation for these casinos is a done deal and only the fine details remain, is far from accurate. In fact, history shows us that this path isn't as straightforward as it seems.
Remember Japan's Integrated Resort (IR) process? Despite a flurry of global operators showing initial interest, the end result was a measly four consortiums bidding for two locations, with MGM's Osaka proposal as the only one accepted. What led Japan's IR dream to descend into a nightmare? The main culprits were an inefficient bidding system, lack of effective communication, a failure to effectively educate the public about IRs, and unfounded public disapproval.
It's imperative that Thailand doesn't repeat these mistakes. A well-executed Entertainment Complex could potentially become one of the most popular tourist attractions ever created, boosting Thailand's economy exponentially.
So, what can be done to ensure success? Communication is key. Thailand's government and other stakeholders need to find ways to effectively explain to the public what an Entertainment Complex truly is, and how its various elements work together to create a tourism ecosystem. These components include more than just the casino - it's the whole package, from entertainment to dining, that appeals to travelers.
Let's take Singapore's Marina Bay Sands for example. This resort, with the world's most profitable casino, doesn't have the casino shouting for attention. You can easily spend a week enjoying its sights and sounds without noticing the casino. The same goes for Wynn Resorts in Las Vegas and Galaxy Macau.
Addressing opposition is equally essential. Thailand needs to seriously consider the concerns of those who voice opposition, and respond appropriately through insightful, informed dialogue. This dialogue should explain how other jurisdictions like Singapore, Las Vegas, and Macau have reaped benefits while minimizing potential harms from Entertainment Complexes.
There's no room for perceived profit-grabbing in this endeavor. Instead, success requires a collaborative effort by all stakeholders, characterized by open and honest communication. Crucially, this includes the 72 million people who call Thailand home.
To succeed, Thailand's Entertainment Complex should be a harmonious blend of local traditions and global innovation - not just a cash grab or a quick buck for international operators. Here are some valuable lessons learned from Japan's Integrated Resort process:
- Long-term Planning and Study: Conduct comprehensive research and long-term planning that considers the socio-economic impacts and builds support from local communities and stakeholders.
- Collaboration with Local Partners: Engage with local partners to ensure the project aligns with local needs and preferences, enhancing public acceptance and support.
- Transparency and Public Engagement: Maintain transparency throughout the process and engage with the public to address concerns and build trust. This includes open communication about project details, timelines, and benefits.
- Robust Regulatory Framework: Establish a robust regulatory framework to ensure compliance and mitigate potential social risks associated with Entertainment Complexes.
- Balancing Economic Benefits and Social Concerns: Carefully balance economic benefits with social concerns to avoid public disapproval, ensuring that the project contributes positively to the local economy while addressing potential social impacts.
By following these strategies, Thailand can develop Entertainment Complexes that are well-accepted by the public and beneficial to the local economy.
- Blaschke and other stakeholders in Thailand's Entertainment Complex project must pay heed to the lessons learned from Japan's Integrated Resort (IR) process, particularly the importance of long-term planning and thorough study to build support from local communities and partners, as well as maintaining transparency with the public.
- To prevent Thailand's Entertainment Complex from following in the footsteps of Japan's IR nightmare, it is essential for the industry's financial backers to collaborate effectively with local partners, ensuring the project meets the needs of the local populace and boosting public acceptance.
- As the Entertainment Complex project advances, it is crucial for the Thai government to enable clear communication and dialogue between themselves and the public, educating them on the intricacies of the project and how it will contribute to the local economy and tourist industry, while addressing opposing viewpoints with sensitivity.
- To craft a successful Entertainment Complex, finance and casino-and-gambling entities in Thailand should prioritize a harmonious blend of local traditions and global innovation, striving to create a tourist magnet that does not hinge on profiteering but rather provides an exceptional, holistic experience to visitors.
