Galaxy Entertainment Group Ltd., the Macau casino operator that made Lui Che-woo Asia’s third-richest man, plans to invest in China’s Hengqin island and will consider investing at least $5 billion in Japan and Taiwan if allowed.
Galaxy Entertainment Group Ltd., the Macau casino operator that made Lui Che-woo Asia’s third-richest man, may consider investing more than $5 billion in Japan and Taiwan, if those governments open their markets.
Melco Crown Entertainment Ltd., the Macau casino venture between Australian billionaire James Packer and entrepreneur Lawrence Ho, posted third-quarter earnings that missed estimate on a lower win rate from high-stakes gamblers.
Lawrence Ho, son of Macau gambling tycoon Stanley Ho, plans to invest more than $5 billion in Japan if Melco Crown Entertainment Ltd. receives permission to build a casino there as he sees constraints on development at home.
Macau casino mogul Lawrence Ho said gambling revenue in the Philippines “could easily” double to $4 billion in a couple of years, setting the stage to challenge Singapore as Asia’s second-biggest gaming hub.
Macau casino revenue jumped 32 percent to a record of 36.5 billion patacas ($4.57 billion) in October, boosted by mainland Chinese visitors who spent their Golden Week holiday in the world’s largest gambling hub.
MGM China Holdings Ltd., a Macau casino operator, reported third-quarter profit that missed analyst estimates as rising competition drew some gamblers away from its sole casino in the world’s largest gambling market.