The chief executive of Melco Resorts talked about the incidence of the China-USA trade war
Macau.- The chief executive of Melco Resorts & Entertainment, Lawrence Ho, talked about the current year and he said he expects a “down year’. He believes that the trade war between Beijing and Washington, along with the weakening of the Chinese yuan, is having an impact on visitation to Macau.
“Things will be slow and we are going to have a down year for sure. But for most operators, especially for Melco, our bottom line has been strong’, he said in an interview with CNBC.
“It’s what I expected because, with the US-China trade war and the renminbi devaluation, it is certainly having an impact on visitation into Macau and more predominantly on how much people spend when here.”, he added.
But he also believes that it is going to be a stabilization of the renminbi that will provide a positive impact to Macau’s gaming revenue in 2020.
“Assuming the US-China trade war, that there will be a phase one resolution to it, I think that will give a lot of confidence to the travelling consumer that there is an end to this thing”, he predicted.