Billionaire Owner of Staples Center to Build Stadiums in Bangkok

Billionaire Owner of Staples Center to Build Stadiums in Bangkok

By Randy Thanthong-Knight and Suttinee Yuvejwattana

>> Philip Anschutz’s AEG linking up with Thailand’s Mall Group

>> Joint venture to invest $309 million in two venues in capital

Superstars like Taylor Swift are going to find it easier to play concerts in Bangkok.

U.S. billionaire Philip Anschutz’s sports and entertainment company AEG and Thai shopping center developer The Mall Group Co. plan to invest 10 billion baht ($309 million) to build two multi-purpose stadiums in the Thai capital, including one billed as the country’s largest.

One will be a 16,000-capacity arena and the other a 6,000-seat theater, both designed to host music and sports events as well as conventions and fashion shows. The stadiums are due to be completed by 2023 and are part of AEG’s shift in Asia from mostly organizing live events to creating venues, exemplified by the Mercedes-Benz Arena in Shanghai.

Full story: https://www.bloomberg.com/news/articles/2018-09-27/billionaire-owner-of-staples-center-to-build-stadiums-in-bangkok

-- Bloomberg 2018-09-27