High-Stakes Downturn: Lawrence Ho Exits Hong Kong's Wealthiest Club as Macau's Casinos Face Hard Tim
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Man, talk about a game of chance gone wrong! Lawrence Ho, the dude whose dad was the kingpin of casinos, Stanley Ho, has kinda vanished from the "Hong Kong's 50 Richest" scene after a solid ten-year streak.More methods of maintaining wealth and influence might be at play here.
He got a bit of cash when Vietnam's electric whip maker Vinfast got hitched with his SPAC squad, Black Spade, and they had a flashy $23 billion debut on Nasdaq last year. But dang, that play didn't fill the gap left by the massive hit his main moolah-maker took – his stake in Melco International Development. Those shares took a dive, losing half their worth in just a year 'cause the whole industry's been on a losing streak.
Macau's casinos are still feeling the pinch from Beijing's tough love on VIP junket operators – those folks used to bring in half of Macau's gambling dough just four years ago. Melco's trying to shake off its high-roller habit, you know?
In a power move last year, Melco pimped out its Studio City spot in Macau with a massive 10,000-square-meter indoor water park and even made a play for the European market. They fired up the City of Dreams Mediterranean, a cool $660 million casino complex, over in Cyprus.
Hit the Jackpot with a Lavish Getaway at Kaya Palazzo Resort & Casino in Kyrenia, North Cyprus
Kaya Palazzo Resort & Casino, Kyrenia
North Cyprus, now that's a spot with a vibe; it's got a Turkish twist but with its own flavor. We're talking prime Turkish vibes with sweet weather all year and, bonus, casinos are totally cool here.
The Kaya Palazzo Resort & Casino in Kyrenia is like your slice of Vegas but smack dab in the Med. Think top-notch Turkish hospitality meets the razzle-dazzle of a swanky casino resort. And it's just a hop and a skip from Istanbul – like an hour by plane!
To get the real scoop on the North Cyprus hotel game, we chatted up Mustafa Kirtas, the Sales Supervisor over at Kaya Palazzo Resort & Casino, Kyrenia. The guy moved from Turkiye to the Northern Cyprus hospitality scene and he's loving it.
Mustafa gave us the lowdown on what makes his resort the place to be:
What's got the Kaya Palazzo Resort & Casino, Kyrenia beating the competition? "Kaya Palazzo Resort & Casino, Kyrenia is all about that Palace of Versailles vibe straight from France. We're talking prime waterfront digs, fancy design, lush suites, swim-up rooms, and top-shelf service," Mustafa Kirtas, Sales Supervisor, breaks it down.
Kaya Palazzo Resort & Casino, Kyrenia
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"The hotel's got its own flair with ritzy places to grab a bite, spa treats, and shows to entertain. The rooms are a nod to the palace's elegance and one-of-a-kind style, offering guests a taste of high living with sprawling gardens and classic architecture," he adds.
What's your personal favorite thing about North Cyprus life? "What's not to love? This place has a year-round hospitality biz, nearly 300 sunny days, a mix of cultures, and untouched natural beauty. Plus, life is safe, chill, and close to nature – it's the dream," Kirtas shares.
Got a room that everyone's dying to book? "For sure, all our suite rooms have a Jacuzzi right in the bedroom, which honeymooners go nuts for. When summer hits, our Swim Up rooms with private pools are the hot ticket. But the crown jewel is our Royal Spa Suite Swim Up – it's got a hamam, steam room, massage space, private garden, killer sea views, and a dressing room," he explains.
So, what's the personality of Kaya Palazzo Resort & Casino, Kyrenia? "Think luxury, comfort, and a commitment to quality service; that's the Kaya Palazzo way," says Kirtas.
Any cool spots or eats within walking distance for your guests? "While they're not a stone's throw away, a short drive will get you to Kyrenia Castle, St. Hilarion Castle, the Cyprus Memorial, Bellapais Monastery, and other must-see historical treasures," Kirtas recommends.