Jun 29, 2026
What is known about the company that has expressed interest in the new city in Kazakhstan
On 26 June, Kazakhstan’s Prime Minister Olzhas Bektenov met with Lawrence Ho, Chairman and Chief Executive Officer of Melco Resorts & Entertainment. According to a government statement, the parties discussed the development of Kazakhstan’s tourism infrastructure and the participation of foreign investors in Alatau City projects.
Lawrence Ho expressed interest in joint projects in the tourism and hospitality sectors. However, these are currently only at the negotiation stage: the parties have not announced any specific projects, nor even the signing of a memorandum of understanding.
Macau, Cyprus and the Philippines
Although the government press office’s statement referred to the development of tourism, it should be noted that Melco Resorts & Entertainment is not a typical hotel company. Its core business involves the creation and management of integrated resorts, where five-star hotels, restaurants, shopping arcades, concert and conference venues, spas, water parks and other entertainment facilities are combined with casinos.
Melco’s main assets are located in Macau: these are the premium casino-hotels City of Dreams, Studio City and Altira Macau. The company also operates City of Dreams Manila in the Philippines, City of Dreams Mediterranean in Cyprus and, from 2025, will be involved in City of Dreams Sri Lanka.
It is worth noting that, according to the master plan for Alatau City, one of the districts – the Green District – is set to combine a casino centre, green spaces and infrastructure for active leisure. Furthermore, the new city includes part of the Konayev area, which has been home to one of Kazakhstan’s official gambling zones for many years.
Melco Resorts & Entertainment is registered in the Cayman Islands; its American Depositary Shares are traded on the Nasdaq under the ticker symbol MLCO. The controlling stake is held by Hong Kong-based Melco International Development, which is controlled by Lawrence Ho. The group’s headquarters are in Hong Kong.
Who is Lawrence Ho
Melco Resorts and Melco International are headed by Lawrence Ho. He is the son of Stanley Ho, an entrepreneur who was regarded as the king of Macau’s gambling industry for forty years — from 1962 to 2002. It was Stanley Ho who played a key role in transforming Macau from a small port town into the world capital of gambling.
Why is Lawrence Ho interested in Kazakhstan?
Why might Alatau City be of interest to Melco? Firstly, the city will be built near Almaty – the country’s largest metropolitan area – not far from the international airport. As such, the potential resort will be able to attract both foreign tourists and residents of Almaty and the Almaty region.
Another advantage could be Kazakhstan’s location between the markets of Central Asia, China, the Caucasus and the CIS countries. Melco already uses a similar model in other countries: its resort in Cyprus targets tourists from Europe, the Middle East and North Africa, whilst its casino in Sri Lanka targets affluent travellers from India.
An additional selling point for investors will be Alatau City’s special legal regime. This provides for special conditions for the implementation of large-scale projects, investment protection, simplified regulation and tax incentives.
Read more: https://forbes.kz/articles/melco-resorts-s-kem-bektenov-obsuzhdal-proekty-v-alatau-city-19a9f2