Melco chairman and CEO Lawrence Ho’s private investment firm, Black Spade Capital, and Gilbert Yeung, the owner of prominent Hong Kong nightclub Dragon-i, have signed an agreement to jointly establish an entertainment company.
According to a media release, the initiative will involve “the operation of high-end lifestyle and entertainment attractions such as nightclubs, beach clubs, bars, restaurants and live performances.”
The initial project is expected to be in Macao, although the venture has plans to broaden its reach to other Asian cities.
Speaking about the collaboration, Yeung said that the aim of the partnership was to provide “new experiences” by merging conventional entertainment with augmented reality and artificial intelligence in what he and Black Spade’s President and CEO, Dennis Tam, dub “Entertainment 3.0.”
Yeung, who is the son of Emperor Entertainment Group chairman Albert Yeung, stated that the new venture will capitalise on Macao’s non-gaming industry, which has “huge growth potential.”
This is not the first time that Ho has cooperated with the son of a prominent businessman. Previously, he and James Packer, the son of Australian media mogul Kerry Packer, were involved in a partnership involving the latter’s Crown Resorts.