{"id":49497,"date":"2017-05-02T14:00:48","date_gmt":"2017-05-02T21:00:48","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=49497"},"modified":"2017-05-02T11:49:17","modified_gmt":"2017-05-02T18:49:17","slug":"macau-will-return-2013-peak-says-lawrence-ho","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/macau-will-return-2013-peak-says-lawrence-ho\/","title":{"rendered":"Macau Will Return to 2013 Peak, Says Lawrence Ho"},"content":{"rendered":"

Lawrence Ho is upbeat about Macau. In an interview this week with Bloomberg TV, the Melco International chairman and CEO described himself as \u201cextremely bullish\u201d on the enclave\u2019s prospects, adding that he believed the economy would return to its 2013 peak within a matter of years.<\/p>\n

\"Lawrence
Lawrence Ho believes that Macau\u2019s casino sector will once again be worth $45 billion by 2022. The peak of Beijing\u2019s anti-corruption drive has now passed, he added. (Image: Alchetron)<\/figcaption><\/figure>\n

His words came as the gambling hub reported its ninth straight month of rising revenues in April, as it continues to bounce back from a two-year economic slump.<\/p>\n

The casino sector was hit hard by Beijing\u2019s anti-corruption crackdown that spooked away Chinese high-rollers that once accounted for some 60 percent of its revenues.\u00a0 \u00a0<\/span><\/p>\n

\u201cDefinitely within the next five years, it will grow back to the $45 billion gaming market,\u201d said Ho. \u201cAnd that\u2019s just the gaming alone, because the non-gaming part is significant.\u201d<\/p>\n

Crackdown Wasn\u2019t Anti-gaming<\/b><\/h2>\n

Macau<\/a> is beginning to pick up the pieces and has, in the interim, has reinvented itself as a destination for the mass-market, with non-gaming amenities designed to appeal more to Chinese middle-class families than the corrupt high-rolling Communist Party officials who were the target of the crackdown. And the good news is, Beijing approves, as Ho explains.<\/p>\n

\u201cThe crack down wasn\u2019t really focused on gaming, it was focused on anti-corruption and anti-extravagance,\u201d he said. \u201cGaming, like all luxury sectors, was really just collateral damage. The peak of that crack down has long passed.<\/p>\n

\n

\u201cThe middle class and wealthy individuals in China, who didn\u2019t do anything wrong, have realized they\u2019re in the clear, and can now go back to living upscale [lives] and having fun.\u201d<\/strong><\/p>\n<\/blockquote>\n

Ninth Straight Month of Growth<\/b><\/h2>\n

The recovery is gaining traction. Macau\u2019s casino receipts for April grew by 16.3 percent to $2.52 billion, the third consecutive month of double-digit growth, and beating, once again, analysts\u2019 estimates.<\/p>\n

The reversal of Macau\u2019s fortunes<\/a> has sent casino stock rallying, as well as enhancing several Q1 financial reports published last week; particularly those of Wynn Resorts and LVS, which derive\u00a064 percent and 59 percent of their revenues, respectively from their Macau operations.\u00a0 \u00a0<\/span><\/p>\n

And while many analysts are taking a cautious approach, Grant Govertsen of Union Gaming Group LLC said this week that Ho\u2019s prediction of $45 billion by 2022 is definitely achievable.<\/p>\n

\u201cThat type of growth would imply around 10 percent average annual growth, which feels realistic at this point,\u201d he told Bloomberg. \u201cThe good news for Macau is that the government has anointed mass market as the future of Macau, and we would expect at least some level of support going forward to ensure mass continues to be the direction Macau is headed.\u201d\u00a0 \u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Lawrence Ho is upbeat about Macau. In an interview this week with Bloomberg TV, the Melco International chairman and CEO described himself as \u201cextremely bullish\u201d on the enclave\u2019s prospects, adding that he believed the economy would return to its 2013 peak within a matter of years. His words came as the gambling hub reported its […]<\/p>\n","protected":false},"author":42,"featured_media":49499,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10,18],"tags":[],"acf":[],"yoast_head":"\nMacau Will Return to 2013 Peak, Says Lawrence Ho<\/title>\n<meta name=\"description\" content=\"Ho is bullish on Macau as the gambling hub reports it\u2019s ninth straight month of growth.\u00a0\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macau Will Return to 2013 Peak, Says Lawrence Ho\" \/>\n<meta property=\"og:description\" content=\"Ho is bullish on Macau as the gambling hub reports it\u2019s ninth straight month of growth.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/macau-will-return-2013-peak-says-lawrence-ho\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-02T21:00:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-05-02T18:49:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/05\/1200x-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/macau-will-return-2013-peak-says-lawrence-ho\/\",\"url\":\"https:\/\/www.casino.org\/news\/macau-will-return-2013-peak-says-lawrence-ho\/\",\"name\":\"Macau Will Return to 2013 Peak, Says Lawrence Ho\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-will-return-2013-peak-says-lawrence-ho\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-will-return-2013-peak-says-lawrence-ho\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/05\/1200x-1.jpg\",\"datePublished\":\"2017-05-02T21:00:48+00:00\",\"dateModified\":\"2017-05-02T18:49:17+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Ho is bullish on Macau as the gambling hub reports it\u2019s ninth straight month of growth.\u00a0\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-will-return-2013-peak-says-lawrence-ho\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/macau-will-return-2013-peak-says-lawrence-ho\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/macau-will-return-2013-peak-says-lawrence-ho\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/05\/1200x-1.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/05\/1200x-1.jpg\",\"width\":1200,\"height\":800,\"caption\":\"Lawrence Ho believes that Macau\u2019s casino sector will once again be worth $45 billion by 2022. 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