There has been talk recently that Macau is experiencing something of a downward swing in its fortunes. However, one company based there, that being the mighty casino operator Melco Resorts & Entertainment Ltd has reported that they are fully booked for the Chinese New Year.
Lawrence Ho, the CEO of Melco, has said talk that Macau was facing some difficulties ahead regarding income and visitor numbers was nothing to be concerned about. He even went on record as saying that analysts had been overreacting when saying that long term forecasts for income levels would go into decline.
He is of the mind that this year will see income levels rise at his company in the single digit range, suggesting that he is expecting the rise to be above 5%.
Whilst there is no doubt that China and the global economy at large that China does depend on for trade, has seen some sluggish figures, the expected or predicted knock on effect for Macau is not being experienced.
A lot will however, depend on just how fruitful and profitable the Chinese New Year Holiday is for his company and all other casinos based in Macau, but there is no getting away from the fact that with many casino resorts fully booked they should experience some excellent income levels during that period.
One thing that is noticeable regarding income levels for the casino resorts based in Macau is that they have been increasing for 29 months consecutively, which is impressive, however whether this month’s income will show an increase too, remains to be seen.
No one should though, doubt the sincerity of Lawrence Ho, and if he is of the mind that business will be good this month then it is a reasonably good indicator that it will be.
