Hong Kong investor and founder of investment firm Janchor Partners, John Ho, said during last week’s “Sohn Hearts and Minds Conference” in Sydney that the gaming sector in Macau is poised for a steady recovery. “Macau is great value for long term investors,” Ho said, as cited by The Australian.
The investor assessed that Macau had transitioned through a significant boom and bust cycle and concluded that market fundamentals now indicate a steady recovery is on the way.
His comments come after three months of positive gross gaming revenue growth, the first of their kind after more than two years of decline.
Attributing much of the gaming decline between 2014 and 2016 to increased regulatory controls at the behest of the Central Government, as well as the weakening economy of mainland China in recent years, Ho forecast that the changing landscape of Macau’s tourism sector would promote growth in coming years.
According to The Australian, the investor said that the focus of Macau’s tourism is now shifting to “experience and lifestyle” and the future image of the city would be one of fancy hotels, nice restaurants and good shopping.
Commenting on China’s demographics, Ho also said that the mainland Chinese market was now approaching a level of sophistication to appreciate this type of tourism entertainment.
However, Ho avoided referencing the recent Crown Resorts employees who were arrested in China last month for suspected “gambling crimes” during a promotional visit. On Sunday it was announced that one of the 18 individuals arrested had been released from detention.
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