Lawrence Ho sees gaming returning to 2013 peak

Lawrence Ho

Macau, the world’s largest gaming center, will return to its peak within the next five years, said Melco Resorts & Entertainment Ltd.’s billionaire Chairman Lawrence Ho.

Ho, who is also vying for a casino license in Japan, is “extremely bullish” on Macau, he said in an interview on Bloomberg Television with Haslinda Amin. “Definitely within the next five years, it will grow back to the USD45 billion gaming market,” said Ho, who also serves as chief executive officer. “And that’s just the gaming alone, because the non-gaming part is significant.”

Ho’s projection is one of the most upbeat for Macau’s gaming industry, which reached its highest annual peak in 2013. The industry then struggled as high-stakes players stayed away from China’s sole gaming hub amid Beijing’s corruption crackdown.

Ho was also optimistic about the prospects of entering the Japanese market. Ho forecast it could “easily” be a $20 billion market if cities such as Osaka or Yokohama had one or two casino resorts.

“If it’s $20 billion divided by two or three or four operators, that would be very significant,” he said.

Given Japan’s potential, Ho said Melco “will do whatever it takes” to get a Japan casino license. Earlier this year, Ho pledged to spend “whatever it takes” to win a casino license in the country.

“We don’t want to put a dollar figure on it because ultimately, the opportunity is priceless,” he said.         MDT/Bloomberg