Melco Resorts & Entertainment has announced plans to pursue an integrated resort development in Thailand, with Chairman and CEO Lawrence Ho revealing the company is currently awaiting clarity on rules and regulations to determine the size and scale of any future investment into the Southeast Asian nation.
Melco has, he added, set up a new Bangkok office as part of its preparations.
Ho unveiled the company’s plans during a media event this week at which Melco announced a collaboration with Thailand’s National Soft Power Strategy Committee (THACCA) aimed at positioning the Southeast Asian nation as a global hub of soft power excellence.
While Ho has previously described Thailand as a “generational opportunity”, this is the first time he has specifically confirmed Melco’s plans to pursue IR development, possibly in Bangkok or Phuket which he said have “great potential” according to an overnight report by The Bangkok Post.
The Melco chief stated during an earnings call last year that he didn’t expect to see any meaningful money spent on Thailand in the foreseeable future given the time it typically takes for such opportunities to develop – as evidenced by Japan where Melco had been pursuing an IR license in Yokohama. However, he also stated at the time, “Anybody would be interested in such an amazing opportunity and we are looking at it.”
In the meantime, Melco will, Ho said, focus on its partnership with THACCA, which includes an event series titled “Global Soft Power Talks” as a key focus. The series looks to elevate Thailand’s identity through cultural, creative and innovative contributions across entertainment, design, architecture and beyond, the two organizations said.
The inaugural “Global Soft Power Talks” event will debut on 24 February 2024 with “The New Rules of Soft Power”, bringing together thought leaders, global experts and Thai visionaries to explore how Thailand can leverage its unique strengths to thrive in the global arena.
The event will feature a keynote address by Thailand’s Prime Minister, Paetongtarn Shinawatra, plus a special introduction by Michelin-starred chef Alain Ducasse, whose global network includes restaurants at Melco’s City of Dreams Macau.
“THACCA is proud to lead Thailand’s efforts to redefine its place on the global stage,” said Dr Surapong Suebwonglee, Chairperson of the National Soft Power Development Committee. “Our partnership with Melco empowers us to amplify Thailand’s identity and cultural assets, ensuring our creative industries are recognized and celebrated worldwide. Through initiatives like ‘Global Soft Power Talks’, we aim to inspire innovation, collaboration and opportunities that will strengthen Thailand’s presence on the world stage.
“We also aim to elevate Thailand’s rank in the Global Soft Power Index next year and beyond, reflecting our vision to make Thailand a recognized leader in soft power.”
According to THACCA, the partnership with Melco aligns with its mission to unite creative and cultural stakeholders in positioning Thailand as a global leader in soft power. It also complements the Thai government’s active support for the creative industries in 2024, which includes investments in digital infrastructure, tax incentives for creative sectors and initiatives to promote Thai culture globally, it explained, while supporting the Prime Minister’s vision to enhance Thailand’s global prominence in luxury tourism and creative industries, using soft power as a catalyst for sustainable growth.
Melco Chairman and CEO Lawrence Ho said his company was committed to elevating Thailand’s global prominence, having demonstrated a long a track record of using premium cultural platforms to boost international influence as evidenced via its integrated resorts in Macau, the Philippines and Cyprus.
“Melco’s success lies in our ability to combine luxury, culture and creativity to create transformative experiences,” Ho said. “We are honored to collaborate with THACCA on this transformative journey. 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 between Melco and THACCA will also see five “exceptional” Thai individuals embark on a three-month intensive training program with world-renowned experts in global creative hubs, including the US, UK, Italy, France and Macau, immersing them in environments of innovation and creativity and with personalized mentorship. The program, they said, aims to empower the next generation of Thai creative leaders to bring back invaluable expertise by equipping them with cutting-edge skills, international insights and collaborative experiences.
“‘Global Soft Power Talks’ is more than just an event; it’s a movement to redefine how Thailand engages with the world,” said Dr Surapong. “We’re creating a future where Thai creativity and innovation resonate globally, driving economic and cultural success for future generations.”
As reported extensively by Inside Asian Gaming, Thailand is in the process of developing a legal casino and integrated resort industry, with relevant legislation expected to pass through the various houses of parliament this year.
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