Sports and live entertainment company AEG announced on Wednesday that it will establish its Asia-Pacific headquarters in Singapore.
Adam Wilkes, the president and chief executive officer of AEG Asia, said: “The move to Singapore is precipitated by our continued growth across Asia and Australia. It is the epicentre of business in the region, and establishing AEG’s roots in the city solidifies our commitment to our partners and our growing business.”
Last year, AEG made its first Southeast Asian foray, jointly investing $308m (€279.3m) with Thailand retail developer The Mall Group to build a 16,000-seat mixed-use arena at the Bangkok International Convention Centre, as well as a 6,000-seat theatre off Bangkok’s Sukhumvit Road. The arena is scheduled for completion by early 2023, and AEG said the sale of naming and sponsorship rights would be a “key pillar” of the project’s planned revenues.
Wilkes told the Financial Times that there was potential in Asia as most existing sporting venues were decades old and often at impractical locations in city outskirts. “The restriction on growth of the market and on building a fan base (for sporting franchises) is based on infrastructure,” he said.
AEG is headquartered in Los Angeles and has offices in five continents. It operates in five business segments:
- AEG Sports, which runs sports franchises and high-profile sports events
- AEG Facilities, which is affiliated with or owns, manages or consults with arenas, stadiums, theatres, clubs and convention centres
- AEG Real Estate, which develops venues and major sports and entertainment districts, such as the Staples Centre in Los Angeles
- AEG Global Partnerships, which oversees worldwide sales and servicing of sponsorships
- AEG Presents, which produces and promotes concert tours and music festivals.