• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 6 July 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
  • 中文
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
  • 中文
No Result
View All Result
IAG
No Result
View All Result

Lawrence Ho: Seasonality more than money exchange crackdown behind recent softness in Macau gaming market

Ben Blaschke by Ben Blaschke
Wed 14 Aug 2024 at 05:37
Lawrence Ho confirms Melco has opened three foreigner-only gaming zones in Macau

Melco’s Chairman and CEO, Lawrence Ho.

44
SHARES
1.1k
VIEWS
Print Friendly, PDF & Email

Melco Resorts Chairman and CEO Lawrence Ho has played down the impact a recent crackdown by authorities on Macau’s illegal money exchange activities has had on the gaming market, describing seasonality and the Euro 24 football championships as more meaningful contributors to recent softness.

He also noted that gaming volumes have shown steady improvement since mid-July, with the impending completion of upgrade works at both City of Dreams Macau and Studio City expected to further support growth for the remainder of 2024.

Ho was asked about the impact of the money exchange crackdown – first announced by mainland authorities in May – during Melco’s 2Q24 earnings call overnight. The issue again hit the news late last week when Macau’s Legislative Assembly unveiled plans to criminalize money exchange gangs by classifying them as “Illegal Gaming Offences”, which are punishable by up to five years imprisonment.

“I think the money changer issue, it’s not new,” Ho said. “It’s been talked about for over a year now so it’s not a surprise to us.

“Of course, it has a bit of an impact in terms of liquidity to players, but I think the bigger issue in terms of the softness in June – and we saw growth in July already and August is off to a very good start – it’s more related to the Euro champs, which lasted from mid-June to mid-July.

“Also, this year the Chinese school holiday started two weeks later, so it didn’t really start until mid-July. What happens there is parents want to stay home and make sure that the kids are done with final exams before they travel.

“So, I think some of the softness that was seen in June and July, that was more of an impact rather than money changers. And with regards to the money changers, we’ve seen this in Macau over the years. I think this has been a story 10 years in the making. I don’t think it’s going to change the thesis into Macau dramatically.

“If anything, we’re very positive and optimistic about the future. I think what we’ve seen so far in August is a more typical summer so we’re happy heading into the second half of the year. And I believe that we will continue to see growth.”

Melco, meanwhile, continues to revamp its gaming floors, with work ongoing on the mass floor at City of Dreams Macau, new VIP slots areas in the works and a “reactivation” of the property’s entrance facing MGM Cotai and Wynn Palace.

At Studio City, recent work includes floor repairs, the repositioning of some tables games slots, and the opening of a new stadium and high limit area.

Ho said the work was designed to “re-establish our former premium mass leadership position.”

On the rollout of smart gaming tables, Melco said there were currently 30 tables online at Studio City with all 215 baccarat tables scheduled to become “smart” by October. City of Dreams Macau will follow suit by March 2025.

Also expected to open in early 2025, slightly later than previously planned, is the new-look House of Dancing Water resident show following a four-year hiatus, with Ho noting that rejuvenating the experience has proved more challenging than expected.

“It’s not just a return of the old show – we are adding some new elements into it,” Ho said. “You know, by next year it will be close to 15 years since we first opened [House of Dancing Water] and there has been some advancement in technology.

“The grand reopening, we want it to be a real spectacle, so we’re still hoping for end of the year but given how it’s a technologically heavy show with a lot of machinery, we are having some difficulties with some of the machinery.

“So, I think potentially it will probably open in Q1. At the same time, because it’s a grand reopening, I don’t want to eliminate certain acts from it at the beginning. I want to make sure that everything is available from day one.

“House of Dancing Water traditionally has given us thousands of people of additional traffic to City of Dreams Macau and it’s always been an icon of the tourism office of Macau. So, we’re excited about that.”

RelatedPosts

Macau planning to ban all forms of advertising for gambling activities

Macau planning to ban all forms of advertising for gambling activities

Fri 4 Jul 2025 at 15:04
Hong Kong to launch “Southbound Travel for Guangdong Vehicles” scheme, no immediate plans for Macau

Hong Kong to launch “Southbound Travel for Guangdong Vehicles” scheme, no immediate plans for Macau

Wed 2 Jul 2025 at 18:10
Team Spirit

IAG announces Light & Wonder, Angel and Aristocrat Gaming as sponsors of Macau After Dark at Vasco – Bar & Lounge on Monday 7 July

Wed 2 Jul 2025 at 15:33
Macau Legend says no concerns over ability to continue after reaching agreement with lenders to defer HK$2.1 billion in looming repayments

Macau Legend says no concerns over ability to continue after reaching agreement with lenders to defer HK$2.1 billion in looming repayments

Wed 2 Jul 2025 at 06:19
Load More
Tags: Lawrence HoMacauMelco Resorts and Entertainmentmoney exchangeSmart gaming tablesThe House of Dancing Water
Share18Share3
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
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

Hong Kong’s Far East Consortium reports first full year gaming revenue after Australian, European acquisitions

Workers at The Star Brisbane take strike action over “insulting” pay offer

by Ben Blaschke
Sun 6 Jul 2025 at 09:13

Employees of Star Entertainment Group’s Brisbane casino walked off the job on Friday in protest over wage negotiations described by a workers’ union as “insulting”. The staff, including those working on the gaming floor, in restaurants and bars and in...

Philippine resort NUSTAR enters strategic partnership with airport hospitality provider Plaza Premium Group

Philippine resort NUSTAR enters strategic partnership with airport hospitality provider Plaza Premium Group

by Newsdesk
Sun 6 Jul 2025 at 09:11

Cebu’s NUSTAR Resort & Casino Cebu has announced a strategic partnership with Plaza Premium Group (PPG) – a leader in integrated airport hospitality experiences and passenger service solutions – to provide exclusive travel privileges for NUSTAR Rewards members and VIP...

Winds of change

As Philippine lawmakers push to crack down on the online gaming sector, PAGCOR promises to impose “any and all” regulations signed into law

by Ben Blaschke
Sat 5 Jul 2025 at 08:16

Philippine gaming regulator PAGCOR said Friday that it is not responsible for determining which laws are put in place to govern online gambling but will continue to perform its duty in regulating as per “any and all” relevant regulations signed...

Macau planning to ban all forms of advertising for gambling activities

Macau planning to ban all forms of advertising for gambling activities

by Pierce Chan
Fri 4 Jul 2025 at 15:04

The Macao SAR Government is planning to amend advertising laws and regulations, proposing a ban on all forms of advertising for gambling activities – including the display of gambling equipment in advertisements. Macau’s Economic and Technology Development Bureau stated on...



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
  • 中文

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
  • 中文
  • 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.

  • 中文
  • English