Visitor arrivals are actually surging in 2019, with the Macau Government Tourism Office saying 30.2 million peoples ventured to the enclave through September. That’s a 17 percent premium on the same ten months in 2018.<\/p>\n<\/div>\n
Ho is the son of Macau “King of Gambling” Stanley Ho, whose SJM Holdings enjoyed a monopoly on gaming in the region for decades before the enclave was returned to Chinese control.<\/p>\n
Macau casinos have given more attention to the mass market as visitation from the demographic increases. The opening on the Hong Kong-Zhuhai-Macau bridge makes the casino hub more accessible for non-VIPs.<\/p>\n
Ho says the influx has allowed his Melco Resorts to actually increase its bottom line despite reduced casino win.<\/p>\n
\nOn the higher end of the business, the spend-per-visit is a little bit lower,” Ho revealed. “But I think for most operators, and especially Melco, our bottom line has been very strong. That’s thanks to the \u2026 bridge and having the benefit of that for the full year.”<\/p>\n<\/blockquote>\n
Ho said he hopes media reports suggesting a first phase of a trade deal between China and the US will happen soon.<\/p>\n
“I think that’s going to give a lot of confidence to the traveling consumer, that there is an end to this thing. Also, a stabilization of the renminbi. I think these are all positive impacts for Macau,” the gaming tycoon added.<\/p>\n
Japan Update<\/b><\/h2>\n
Melco Resorts owns three integrated resorts in Macau, another in the Philippines, and soon Cyprus. Ho desperately hopes to add another country to that list: Japan.<\/p>\n
Like Las Vegas Sands, MGM Resorts, Wynn Resorts, Hard Rock, Galaxy Entertainment, and most every other major casino operator, Melco is focused on winning licensure in Japan. The Asian nation is in the lengthy process of issuing three IR licenses.<\/p>\n
Melco is targeting Yokohama for its multibillion-dollar project. Japan’s second-most-populated city is a major commercial hub in the Greater Tokyo Area. Ho said he’s in Japan almost weekly.<\/p>\n
\n
Ho explained that unlike the frontrunners \u2013 Sands and MGM, who are respectively targeting Tokyo and Osaka \u2013 Melco is better-positioned to meet Japan’s goal of legalizing the properties.<\/p>\n<\/div>\n
“We understand the Japanese government, part of their strategy for integrated resorts is to introduce people to regional Japanese cities,” Ho stated. “Cities that are less-visited. Of course, everyone goes to Tokyo or Osaka. Our fund is really targeting more rural cities.”<\/p>\n
In addition to its Yokohama casino effort, Melco recently announced two non-gaming investments<\/a> in Japan. The country plans to build a hot springs resort in Hakone, near Tokyo, and a ski resort in Nagano.<\/p>\n","protected":false},"excerpt":{"rendered":"Billionaire Melco Resorts CEO Lawrence Ho says the ongoing trade war between China and the US is most responsible for what he calls a “down year” in the casino enclave. Through October, gross gaming revenue (GGR) in the Chinese Special Administrative Region is down 1.8 percent. If that rate persists during the final two months, […]<\/p>\n","protected":false},"author":25,"featured_media":120066,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,61],"tags":[],"acf":[],"yoast_head":"\n
Melco CEO Lawrence Ho Blames US-China Trade War for Down Year<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n