Macau VIP market might ‘stabilise’ – Ho

Home » Macau VIP market might ‘stabilise’ – Ho

The Macau VIP gambling market might “stabilise” based on evidence from this month, the start of the fourth quarter, said Lawrence Ho Yau Lung, chairman and chief executive of casino operator Melco Resorts and Entertainment.

He was speaking on a conference call to discuss the group’s third-quarter earnings, issued on Wednesday. In the third quarter, Macau VIP gross gaming revenue had declined market wide by 22.5 per cent year-on-year, showed data released on October 17 by the city’s government.

But Melco Resorts still managed to see third-quarter profit soar 635.7 per cent judged year-on-year. Such profit was US$83.2m, compared with US$11.3m in the third quarter of 2018.

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