MACAU BUSINESS
MACAU BOYS COMING TO TOWN?
Whatever the scenario, Macau, Singapore, and Malaysian gaming operators, in particular, would be keen to enter the lucrative Thai tourism and entertainment market.
Which operators from Macau have the best odds of entering a potential Thai market? Ben Lee, managing partner of IGamiX management and consulting, weighs in on issues of partnership requirements and the different complementary strengths that might emerge should Thai gaming legalisation go forward. Comments Lee, “If they don’t require local partnerships, Sands would probably top the list simply on the basis of their Singapore MBS [Marina Bay Sands] brand recognition. Melco would come in second for their commitment to entertainment, such as the popular House of Dancing Water.” However, Lee says, “Should the [Thailand] authorities require local partnerships, that would almost certainly rule out all the Americans as they generally don’t partner well with locals, and secondly their compliance with Nevada [Nevada Gaming Control Board] regulations would probably be problematic.”
He adds, “In that scenario, Galaxy and Melco would emerge as top runners as they would probably be more comfortable partnering with the locals.”
30 NOVEMBER 2024 Should the
[Thailand] authorities require local partnerships, that would almost certainly rule out all the Americans as they generally don’t partner well with locals, and secondly their compliance with Nevada regulations would probably be problematic
Ben Lee, managing partner of IgamiX
One entertainment executive in Singapore, familiar with the interests, spoke off the record, noting that Galaxy would not only be keen but is already active in Thailand exploring options. What about MGM? This issue arose last June when MGM, as part of the MGTO roadshow in Thailand, rolled out the “Macanese Food Promotion” at the Rosewood Bangkok hotel and held a VIP dinner. This promotion was overshadowed by a Bangkok Post report quoting Tourism Authority of Thailand (TAT) governor Thapanee Kiatphaibool, who said that Pansy Ho had expressed interest in investing in Thailand’s possible entertainment complexes to stimulate international travel markets and attract Asian travellers. MGM properties are famed for interactive art installations and culinary sophistication. Thapanee told the Post that further talks with MGM were being planned. One gaming executive speaking off the record wondered how that would work with MGM China Holdings, which is supposed to be focused on “Greater China,” and MGM Resorts International, which is supposed to concentrate on the rest of the world. A separate source speaking from Europe in the background wondered how this might play out with US regulators and the political pressures inside America in its current bipartisan, anti-China posture.
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