Gambling Profits From Melco Keep Income Soaring For Ho Family

Stanley Ho has created a gambling Mecca in Macau that is rivaled by none on the planet, including Las Vegas. Now his son, Lawrence Ho, is getting in on the fun, as Melco International Development, which is run by Ho, has shown a profit during the first half of 2007.

A year ago Melco showed a loss of $29 million dollars in the first half, but this year, the company has rebounded, showing a profit of $36.5 million.

The difference in the numbers seems to come from the Crown Macau, which has become an upmarket VIP property, opened in May and has made a world of difference.

Macau has overtaken Las Vegas in gambling revenue, and Stanley Ho is a big reason for that.

Melco is in the process of building City of Dreams, a resort which is to feature an acrylic and glass gambling hall where guests will be able to view real marine life.

The other major advancement in the Melco company is its expansion of its technology and slot machine units. The idea behind this move is the company wants to tap into the Asia market. It is thought that in the next 5 to seven years, slot machines in Asia could double to almost 74,000.

As the gambling continues to grow around the world, it appears that the Ho family will be an integral part of the growth.

September 14, 2007
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
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