• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 29 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Lawrence Ho says Golden Week volume Melco’s best in five years

Ben Blaschke by Ben Blaschke
Thu 9 May 2019 at 07:14
21
SHARES
537
VIEWS
Print Friendly, PDF & Email

Melco Resorts and Entertainment Chairman and CEO Lawrence Ho says he expects the company to post significantly improved results in 2Q19, describing the recent May Golden Week period as “one of the best we’ve seen in the last five years.”

His comments follow the release of Melco’s first quarter results earlier this week, which saw growth at the company’s Macau properties come in slightly below the market despite increases in operating revenue and Adjusted EBITDA at flagship City of Dreams.

Although he didn’t reveal any numbers, Ho stated in Melco’s 1Q19 earnings call that “for April and at least for May Golden Week we’ve seen very, very strong growth and strong volumes, so it’s probably been one of the best May Golden Weeks we’ve seen in the last five years.

“I think we are finally starting to reach the potential that we had expected for Morpheus. So, it took a bit longer than we had expected, but it’s been a journey and we are getting there. If anything, in April and May, we’ve seen some very encouraging times.”

Melco is in the midst of a major revamp of City of Dreams, which included the opening of Morpheus in June 2018 and transforming the second floor gaming space that was previously home to PokerStars LIVE Macau into new junket space.

Ho said that Melco would invest a further US$50 million of “targeted enhancement CapEx” over the next 12 months to further upgrade both the gaming areas and the non-gaming attractions at City of Dreams, including the transformation of The Countdown Hotel into a new hotel brand, Libertine.

City of Dreams Property President Davis Sisk said that construction disruption from the ongoing upgrades has continued to impact Melco’s bottom line in 1Q19 but said the recent launch of new junket space has “seen really good pickup” throughout April and into May.

“We’ve been very, very pleased,” Sisk said. “If you talked to a lot of the junket operators, they will probably tell you we have some of the nicest and finest space, not only in Macau but probably in all the world.

“So we’ve seen a great pickup through the April period and we saw some super good play on both on premium direct and our VIP operators throughout the first five days of May.

“I think it’s somewhat serendipity in terms of our timing with this. We’ve hit the market in a really good period of time with our product.”

 

 

 

RelatedPosts

Charles Seo – Opportunity knocks

Charles Seo – Opportunity knocks

Fri 27 Jun 2025 at 13:03
Macau hotel room rates soar ahead of Chinese New Year holidays

Macau’s hotel occupancy rate rises 4.5 percentage points to 87.8% in May

Thu 26 Jun 2025 at 19:24
South Shore shareholders convene SGM to vote on winding up of the company

THE 13’s new owner revealed to be family of Rio Hotel chair Loi Keong Kuong

Thu 26 Jun 2025 at 19:23
Wynn opens Macau’s first Korean medical center at Wynn Palace

Wynn opens Macau’s first Korean medical center at Wynn Palace

Thu 26 Jun 2025 at 05:57
Load More
Tags: City of DreamsGolden WeekLawrence HoMacauMelco Resorts & EntertainmentVIP
Share8Share1
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Aristocrat
GLI
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country is slowly but surely making moves to establish a genuine regulatory framework. Sri Lanka’s casino industry has a vibrant yet...

More fun in the Philippines

IAG EXPO – Exhibitor registration closing soon!

by Ben Blaschke
Fri 27 Jun 2025 at 06:31

The cut-off for exhibitors to confirm their participation at the inaugural IAG Exhibition, part of IAG EXPO, closes next Monday 30 June 2025. Don’t miss out on this important event for the Asian gaming industry. All companies who exhibit at IAG Exhibition in...

Inside Thai IRs

Thailand’s Entertainment Complex Bill now at bottom of parliamentary agenda

by Newsdesk
Fri 27 Jun 2025 at 06:26

Thailand’s Entertainment Complex Bill will now sit at the bottom of the list of agenda items to be discussed by the House when it convenes after being deprioritized. It will not fall off the agenda completely, however, because this can...

Far East given green light to spin-off and list Czech casino business on Hong Kong Stock Exchange

Hong Kong listed Palasino reports slight increase in revenue, profit in FY25 thanks to growing slot machine count

by Newsdesk
Fri 27 Jun 2025 at 06:13

Palasino Holdings Limited, the Hong Kong-listed gaming firm spun off from Hong Kong real estate giant Far East Consortium, has reported a profit of HK$15 million for the year ended 31 March 2025, slightly more than the HK$9 million reported...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English