The son of the late Stanley Ho, a casino legend, Lawrence Ho, is a notable drop-off this year after ranking on Hong Kong's 50 Richest list for a decade.
However, it was insufficient to compensate for the sharp decline in the worth of his most valuable asset: the shares of the massive casino operator Melco International Development nearly fell in half over the previous 12 months due to a general industry sell-off.
Up until four years ago, VIP junkets accounted for nearly half of Macau's total gaming revenue. However, Beijing's crackdown on these events has left gaming operators in Macau—the only legal casino in Greater China—still trying to recover.
However, it was insufficient to compensate for the sharp decline in the worth of his most valuable asset: the shares of the massive casino operator Melco International Development nearly fell in half over the previous 12 months due to a general industry sell-off.
Up until four years ago, VIP junkets accounted for nearly half of Macau's total gaming revenue. However, Beijing's crackdown on these events has left gaming operators in Macau—the only legal casino in Greater China—still trying to recover.
