CEO and chairman Lawrence Ho says ‘We have seen a very encouraging start to the recovery in Macau during the first quarter of 2023’.
Lawrence Ho
Visitors to the territory over the long weekend don’t appear to have read the memo on Macao’s economic diversification.
Market turbulence means at least half the world’s billionaires are poorer this year than last, but at least two gaming figures have seen their wealth rise.
CEO Lawrence Ho highlighted the impact of “travel restrictions imposed across mainland China and Macau” during the pandemic.
Proposals include hi-tech theme park, incubator centre to develop hi-tech innovation and shows by superstars like Aaron Kwok Fu-shing and Leon Lai Ming.
Operators embark on new game plan while tasked by government to play greater role in diversifying city’s economic, day-to-day life and guaranteeing local jobs.
Melco generated negative Adjusted Property EBITDA of US$34.9 million on this year’s third quarter; CEO optimistic about e-visas being issued to mainland Chinese visitors.
Chairman Lawrence Ho says results at City of Dreams, Studio City and Altira impacted by Covid-19 and restrictions imposed across mainland China.
CEO Lawrence Ho blames poor results on effects of Covid-19 restrictions and tighter border controls.
1 2
