Melco Resorts & Entertainment Ltd is actively assessing investment opportunities in Thailand as the country moves toward legalizing casino resorts. Chairman and CEO Lawrence Ho Yau Lung described Thailand as a “generational opportunity” and acknowledged the company has been conducting studies, visiting the country, and maintaining a presence in Bangkok to evaluate possibilities.
Thailand’s government is advancing casino legislation, with the Entertainment Complex Bill receiving initial approval on January 13. Lawmakers expect to review the draft in early March, and potential investors, including major casino operators, are closely monitoring the process.
Melco Resorts currently operates casinos in Macau, Cyprus, the Philippines, and is preparing to launch a property in Sri Lanka. In January, the company opened an office in Bangkok to gain insight into Thailand’s investment regulations and better assess the financial scope of a potential project.
Ho addressed the topic on a recent conference call discussing the company’s fourth-quarter 2024 results. He acknowledged that Thailand’s legal framework is still developing but emphasized that Melco Resorts remains engaged. “We’ve done a lot of studies, we’ve made a lot of trips, we’ve opened an office, we’ve done a whole bunch of stuff there,” he said.
Despite introducing an “asset-light strategy” aimed at focusing on existing investments, Ho suggested that Thailand could be an exception. “For these exceptional growth opportunities, we might make exceptions,” he explained.
The company is also reassessing its involvement in City of Dreams Manila, with Ho indicating that Melco Resorts is open to different investment structures and partnerships.
Unsurprisingly, other major casino groups, including Wynn Resorts, are also expressing interest in Thailand, a market that will be too hot not to touch. Wynn Resorts has identified the country as a key focus alongside its development on Al Marjan Island in the UAE.
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