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Thai-Japanese Venture Bets on Casino Resort

19 October 2005

THAILAND – As reported by the Bangkok Post: "A Thai-Japanese joint venture yesterday announced a 10-year, 135-billion-baht development plan to build a floating Phuket Bay International City. Umezawa & Thai Partners Architect Co wants to develop an international convention and exhibition centre and ``Good Luck Island', a resort and entertainment complex offering casino games, according to project documents.

"Gambling remains illegal in Thailand although authorities are considering limited legalisation of casinos to help boost the tourism industry.

"Umezawa & Thai Partners is one of 19 companies that signed partnership agreements yesterday with Thai Longstay Management Corporation (TLM), a joint venture between the government and private sector to help support government plans to attract long-stay residents to Thailand.

"…According to project documents, Phuket Bay International City is expected to be completed by 2015, with 20 million tourists visiting the complex per year.

"The floating resort city will consist of five projects: the spaceship-shaped Anabasis resort, the lotus-shaped Marina City resort, The Tower resort and office buildings complex, Sports World with international sport facilities, and the comet-shaped Good Luck Island…"

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