GGRAsia – Melco opens office in Bangkok, eyes investment opportunity

Melco opens office in Bangkok, eyes investment opportunity

Jan 10, 2025 Newsdesk Latest News, Rest of Asia, Top of the deck

Casino developer Melco Resorts & Entertainment Ltd has opened a representative office in Thailand’s capital, Bangkok (pictured), to explore new opportunities in the country, said the firm’s chairman and chief executive, Lawrence Ho Yau Lung.

Mr Ho made the comments on Thursday, speaking at an event to announce a partnership with the Thailand Creative Content Agency (THACCA), reported the Bangkok Post news outlet.

Melco Resorts runs casino complexes in Macau, as well as City of Dreams Manila in the Philippines, and City of Dreams Mediterranean in the Republic of Cyprus. The firm will also run casino operations at a Colombo, Sri Lanka, resort project, scheduled to “commence in mid-2025”.

In September, Melco Resorts said it was “in the process of setting up a sales office” in the Republic of Cyprus. The company has already established similar sales offices “in Singapore, Hong Kong and the Philippines,” according to corporate information.

While there is no timetable yet for casino resorts to open in Thailand, the prospect of enabling legislation being gazetted in the autumn will in likelihood mean that country will remain a focus for casino groups and investors during 2025.

A market of casino resorts in Thailand could generate US$15 billion in annual gross gaming revenue (GGR) “once ramped up”, said Jeffrey Kiang, an analyst at brokerage CLSA Ltd, speaking in December at the Thai Entertainment Complex Summit.

The Bangkok Post reported Mr Ho as saying that Melco Resorts was awaiting clarity on investment regulations from the Thai government in terms of entertainment complexes with casinos, better to determine the size and budget for any potential investment in the country.

Large cities such as Bangkok and Phuket offer great potential for such projects, said Mr Ho, as cited by the media outlet.

Thai partnership

On Thursday, Melco Resorts and THACCA announced a collaboration to “position Thailand as a global hub of soft power excellence,” according to a press release.

The THACCA is described as an agency that encompasses all creative and cultural sectors, part of the Thai government’s strategy to put emphasis on what it terms soft power to strengthen the country’s global competitiveness.

“This partnership aims to elevate Thailand’s identity through cultural, creative, and innovative contributions across entertainment, design, architecture, and beyond,” stated the joint announcement.

As part of the collaboration, an event series titled “Global Soft Power Talks” will be launched this year, with the inaugural session scheduled for February 24.

Thai prime minister Paetongtarn Shinawatra is set to deliver the keynote address at the February event, according to the release. The session will feature global leaders in the culinary field, and in branding, design, architecture, and performing arts. The first session includes input from celebrated chef Alain Ducasse, and a presentation by Mathieu Lehanneur, designer of the Paris 2024 Olympic torch.

“This flagship event will bring together thought leaders, global experts, and Thai visionaries to explore how Thailand can leverage its unique strengths to thrive in the global arena,” said the announcement.

The release cited Surapong Suebwonglee, chairperson of the National Soft Power Development Committee, as saying: “THACCA is proud to lead Thailand’s efforts to redefine its place on the global stage.”

“Our partnership with Melco empowers us to amplify Thailand’s identity and cultural assets, ensuring our creative industries are recognised and celebrated worldwide,” he added.

Melco Resorts’ Mr Ho said in prepared remarks: “Melco’s success lies in our ability to combine luxury, culture, and creativity to create transformative experiences. We are honoured to collaborate with THACCA on this transformative journey.”

The CEO added: “Thailand’s rich cultural heritage and creative potential make it a natural leader in soft power. Our role is to bring global expertise, foster knowledge exchange, and empower Thai talent to achieve their full potential on the international stage.”

The partnership will also provide an opportunity for five Thai nationals to go on a three-month training programme with recognised experts in creative sectors in the United States, United Kingdom, Italy, France, and Macau.