CASINO

Ho sees Melco future in Taiwan and Japan; MGM CEO Mullen wants more

TAGs: Asia, Japan, Jim Mullen, Laurence Ho, Melco Crown Entertainment, MGM Resorts, taiwan

Melco CroMelco Crown is continuing “to keep an eye” on a number of Asian markets as the firm looks to expand even further into the world’s most lucrative gambling industry market. Co-chairman and CEO Laurence Ho spoke to Susan Li on Bloomberg’s “First Up,” stating the Macau market is “far from saturation” and that once infrastructure and hotel rooms were improved, more visitors would flock to the resort.

With regards future expansion for Melco Crown, Ho added: “We’re interested in other major jurisdictions and the liberalization of Taiwan and Japan are potentially on the cards.”

The company has already “done some research trips” to the countries and they “continue to keep an eye” on these two territories in particular.

The interview was on the same day the firm successfully listed its shares on the Hong Kong Stock Exchange for the first time. They issued 1.6billion shares with the intention of raising between US$400m and $600m for the firm with the shares ending the day at HK$26.00. It was also the first time that a company has hit the gong at their own listing ceremony. Bravo, Laurence

MGM Resorts chairman and chief executive Jim Murren has admitted that his company would like more than just two casino-hotels in Macau. He told Macau Business the firm is very interested in further expansion on the gaming industry enclave, and commented: “Cotai represents to us a very, very important opportunity to expand and to use our strengths in terms of portfolio brands, customer range, design and amenity diversity. We can bring a lot more to the market by having [a] Cotai [property].

“We do not think Cotai will be the only future project for us in Macau. We have far broader aspirations in the long term than just a second property.”

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