City of Dreams to operate without junkets

Lawrence Ho said that the company wants to rely on the recovering gambling sector. Credits: Juan Macau
Lawrence Ho said that the company wants to rely on the recovering gambling sector. Credits: Juan Macau

The facility set to open next month will not resort to casino junket operators to lure in high rollers.

Macau.- Lawrence Ho, Chairman and CEO of Melco Resorts, revealed that the US$1.1 billion hotel tower set to open next month, will not feature casino junket operators to attract high rollers. The company wants to rely on the city’s recovering gambling sector to increase revenues.

“Eventually it’s much better to develop your own database than rely on junkets,” said Ho. The 160-meter tall hotel Morpheus, which is part of the City of Dreams casino resort, will feature over 700 rooms, event facilities and casino tables.

“Year-to-date growth right now is well over 20 percent. It will normalise but will still blow out the original expectations,” the CEO said, adding that he expects Macau’s gambling revenue to grow around 20 per cent in 2018, beating market projections for a rise in the high single to double digits.

Moreover, he said that the company, which has a market capitalisation of US$15.9 billion, holds its Macau licence until 2022. “We are very interested in what the rebidding and the renewal process will be. The Macau government and even in Beijing they have kept it very close to their hearts right now,” Ho said.

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