Melco Resorts & Entertainment, an operator of casinos in Macau, plans to invest in integrated resorts and hotels in Thailand, banking on the country’s robust tourism industry and culture — and approval of legalised gambling.
Thailand is a top tourism country with great hospitality and a unique culture, said Lawrence Ho, chairman and chief executive of Melco.
Season 3 of the globally popular HBO TV series The White Lotus should help make Thailand a top destination this year, he said.
Speaking at a Thailand Creative Culture Agency (THACCA) event this week, Mr Ho said the company set up a new office in Bangkok to explore new opportunities and collaboration.
He said Melco is awaiting clarity on investment regulations from the government in terms of entertainment complexes with casinos to better determine the size and budget for any projects it undertakes.
Large cities such as Bangkok and Phuket offer great potential for such projects, said Mr Ho.
A Thai government committee is currently deciding how many casino complexes will be built in the country. When a number is decided, it will present the matter to the cabinet for approval, as required under the current version of a bill that would clear the way for legalised gambling.
Melco operates six integrated resorts in Macau, the Philippines, Sri Lanka and Cyprus, attracting 21 million visitors in total last year.
Mr Ho said visitors to its resorts typically stay 30% longer and spend 3-4 times more than at resorts operated by competitors thanks to Melco’s entertainment, culture and content.
Tourism in Asia should continue to grow this year, said Mr Ho.
Melco is partnering with THACCA to launch “Global Soft Power Talks”, which will bring global creative experts to Thailand for a forum on NBT TV on Feb 24.
The event will features creative experts from five industries — culinary, branding, design, architecture and performing arts — highlighted by Alain Ducasse, who has received 21 Michelin stars, and Mathieu Lehanneur, who designed the Paris 2024 Olympic torch.
The partnership offers a three-month intensive training programme for five selected Thai students with these experts in the US, UK, Italy, France and Macau.
Surapong Suebwonglee, chairman of the National Soft Power Development Committee, said Thai soft power has strong potential to grow, but in past years was not developed as it should have been.
He said elevating soft power requires collaboration with world-class foreign experts, not only basic skills training.
The committee targets reskilling and upskilling more than 20 million people by 2027.
The committee plans to train 5,000 chefs this year, while 400 Muay Thai gyms are open to train more than 100,000 people.