Lawrence Ho Aims to Invest BIG in Japan Market

Lawrence Ho, the founder of Melco International, is looking to expand beyond his home territory. The gambling and casino magnate plans to make the most of the Japanese gambling market, which has been left untapped for quite a while.

 

Ho, who is estimated to be worth $2.6 billion, already has interests in Russia and the Philippines. Japan has attracted his attention after the country recently lifted some of its stringent regulations against casinos. Speaking to the media, Ho stated that there was very little that could be done to stop him and his plans to conquer the Japanese gambling market.

 

Japan gets ready

 

Though Japan has been wary of casinos in the past, there are other forms of gambling that are legal over there. The country is home to pachinko, which is a popular slot machine-like game, boat racing, and horse racing. These alternative gambling options are said to generate a significant amount of revenue.

 

Anti-gambling rhetoric fell on deaf ears as the country voted in favor of legalizing casinos in 2016. The move has been perceived as a strategy to boost the market in a country that’s positioned as the world’s third-largest economy.

 

Ho has stated that he will be developing an “ambitious” pitch to develop his casino. He has already made the decision to diversify his current interests in Macau after the gambling destination was hit with an economic slowdown and a crackdown on corruption.

 

This had led to a significant drop in revenues, forcing operators to boost their appeal, especially with regard to the VIP sector.

 

Osaka or Yokohama?

 

Ho plans to begin his operations in either Osaka or Yokohama. The gambling boss told the media that he intends to offer something unique as always. He mentioned that the Japanese venture would experiment with the latest in everything including technology, construction methods, and engineering. Osaka and Yokohama are known for being vibrant cities with large populations, which makes them viable for Ho’s plans.

 

Ho eliminated Tokyo as an option, calling it a “formal” city and a city for “government”.

 

The gambling mogul is confident about his Japan plans, citing the recent resurrection of Macau’s gambling market after it was hit by the anti-corruption crackdown and the economic slowdown in China. The gambling hotspot has managed to hop back into action, with tourists coming into the country in hordes.