Lawrence Ho
Middle Class Chinese gamblers are the future for Macau, said Lawrence Ho CEO of Melco Crown Entertainment (MCE) during the company announcing second quarter results.
“In the next two to three years it is going to be the next wave of the golden age of Macau,” Lawrence Ho said. As he believes middle class Chinese will replace high spending VIP players.
MCE co-owned by Lawrence Ho and Australian casino and media billionaire James Packer said that net income had doubled in the second quarter thanks to strong growth in visits from members of China’s rising middle class
In a recent report from the government it is estimated that revenues generated by Macau’s mass segment is set to grow by 30% this year compared with around 10% for VIPs. Before VIP customers had always increased more than mass market, showing a trend in what Mr Ho believes is happening.
