The Royal Turf Club’s racecourse is expected to be an additional gambling attraction on the 600-rai plot of land in Chon Buri donated by Bang Saeng mayor Somchai Khunpluem for Thailand’s first casino.
Prime Minister Thaksin Shinawatra has offered to provide 200 million baht from state coffers for the RTC to move its racecourse from Nang Lerng to the new site in Pattaya.
An RTC source said Mr Somchai, better known as Kamnan Poh, had offered to donate the coastal land. RTC board members had travelled to inspect the site, and the land transfer was under way.
Mr Somchai confirmed this, saying he wanted to see a racecourse and a casino in Pattaya as soon as possible. More about elquintobeatle
However, the land transfer agreement was conditional on the RTC completing the course in three or four years.
The source said Mr Thaksin wanted the Nang Lerng horse racecourse moved to Pattaya and had offered 200 million baht state money to finance the relocation.
He had asked Maj-Gen Trairong Indradhat, his adviser and former classmate at the Armed Forces Academy Preparatory School, to discuss the matter with RTC chairman Chamlong Rattanakulseriroengrit and secretary-general Gen Boonlert Kaewprasit. Maj-Gen Trairong is one of 10 RTC board members.
The source said the proposed relocation would supplement Thailand’s first casino to be established at the Ambassador City Jomtien hotel in Pattaya.
However, the source said the RTC board was still undecided, fearing that moving the course out of Bangkok would mean fewer customers and less revenue, and would also be expensive.
The relocation would cost about 800 million baht because the RTC would have to build new facilities. It would also have to ask for a tax cut.
Kerzner Interactive
The Company today announced plans to discontinue Kerzner Interactive, its online gaming operations. Kerzner Interactive targeted play only from jurisdictions that permitted online gaming. As these jurisdictions have become more restrictive in their acceptance of play, the market size has been reduced and competition has intensified. Without the potential for expansion into other markets, including the United States, the outlook for new business has substantially decreased and achieving profitability is unlikely in the short-to-medium term.
In June 2002, the Company had renegotiated a previous agreement with Station Casinos (“Station”), granting to Station a renewable option to purchase a 50% interest in Kerzner Interactive. The Company and Station have mutually agreed to terminate this transaction. The Company intends to wind down operations by the end of the first quarter of 2003.
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