Thailand is seen as a promising destination for investments in entertainment complexes, with MGM China Holdings exploring new opportunities overseas, according to the Tourism Authority of Thailand (TAT).
Following a meeting with Pansy Ho, the chairperson and executive director of MGM China Holdings, TAT governor Thapanee Kiatphaibool revealed that MGM China is interested in promoting Macau tourism to the Thai market and considering investments in Thailand’s proposed entertainment complex.
The potential investment from a global entity like MGM China could help boost international interest in Thailand, particularly from key markets such as China, Southeast Asia, and the Middle East.
Thailand is in the process of drafting new legislation and regulations to govern entertainment complexes, which are poised to include legalized casinos.
Ms. Thapanee mentioned that TAT intends to explore collaboration opportunities with MGM to enhance Thailand’s competitiveness by introducing new tourism offerings, including artificial attractions, to complement the existing year-round activities.
The Thai tourism sector aims to generate 2.4 trillion baht in revenue in the remaining months of the year to reach its target of 3.5 trillion baht, after earning 1.1 trillion baht in the initial five months.
Iwan Dietschi, senior vice president of hospitality at MGM China, highlighted the significance of the Thai market for MGM, noting its growth potential, particularly considering that Thai guests at MGM hotels in 2024 have increased by 30% year-on-year.
MGM China has established a sales presence in Thailand to further expand its reach in the market.
Macau’s hotel industry has experienced a resurgence, largely driven by visitors from Southeast Asia and China, highlighting their importance as key source markets for Macau tourism despite economic challenges.
The involvement of MGM China and Galaxy Entertainment Group (GEG) in events like the “Experience Macao Roadshow in Bangkok” reflects a strategic effort to engage the Thai outbound market and leverage the potential of high-spending Thai tourists.
While MGM China did not delve into specific investment opportunities related to entertainment complexes in Thailand, their focus on the Thai market remains strong, with plans for future expansion.
GEG, headquartered in Macau, is also actively targeting affluent Thai travelers through its luxury hotel offerings and is eyeing the growth potential of the Thai tourism market with the intention of opening a new office in Bangkok to attract more Thai visitors to Macau.
