TOKYO -- Hong Kong casino giant Melco Resorts & Entertainment revealed on Oct. 29 that it will invest 27 billion yen ($248 million) from a new fund into the Japanese hospitality industry, on top of at least $10 billion the company is looking to spend on a resort if it wins a casino license from the Japanese government.
Speaking at the Nikkei Global Management Forum in Tokyo, chief executive Lawrence Ho said Melco is looking for more partners for its Creative Exchange fund "who have a passion for Japan." The fund's first two investments will be an onsen hot spring resort in Hakone, near Tokyo, and a ski resort in Nagano.
