Melco Resorts CEO predicts Macau recovery in Q2
Macau’s casino sector could begin showing signs of recovery as early as mid-March, said Lawrence Ho, chairman and CEO of Melco Resorts and Entertainment.
According to Ho, the market could start normalising at some point during the second quarter.
“We remain optimistic on the recovery in Macau and continue to expect increased visitation in the near-term,” said Ho.
With the further easing of travel restrictions between Macau and Mainland China, he remains hopeful the market will be strengthened by returning players.
Ho noted the increase of players during the last days of Chinese New Year, which carried over to the rest of the month: “I do think it is really two or three months rather than what we’ve been thinking for the past year which has been longer and longer.”
Ho also remains interested in Japan’s IRs, considering the country to be “the best potential new gaming market globally.”
He added: “Turning to Japan, we want to highlight our commitment to bringing a world-leading IR there and continue to pursue opportunities within the market. While the process in Japan has been delayed and remains complex, it has renewed momentum as jurisdictions again initiate RFC processes.”
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