China's policies and economy are the two biggest factors in Melco's gaming business: CEO Lawrence Ho

Macau's big bet on gaming

The Chinese economic outlook is a key factor in determining whether Melco Crown's gaming and entertainment business in "the Vegas of China" does well, Melco International Chairman and CEO Lawrence Ho told CNBC on Thursday.

Melco Crown Entertainment owns, develops and operates casinos and resorts throughout Asia, with Chinese gambling center Macau as its center. And despite unfavorable policy changes in Macau, Ho said, his outlook is "very positive."

"Ultimately, in the environment that we're in, China policies and Chinese economy are the two biggest factors whether we're in positive or negative territory," the CEO said. "I think there's loosening in policy and at the same time the Chinese economy seems like … it's doing quite well now."

The growing middle class in China has been driving Melco's business, which in Macau is over 90 percent in gaming, Ho told "Squawk Box."

"When you look at the gaming business and the resort business, there are various segments and our company has always been primed on the growing middle class," Ho said.

"We like to think of ourselves as ... creators of entertainment and excitement, so what we are really trying to develop is a new lifestyle, an aspirational lifestyle. Henceforth, the growing, traveling of the middle class is really what's going to drive our business going forward," he said.

And while he and his associates are not looking to move business into the already saturated United States market, Ho said he thinks Donald Trump's election will positively affect business.

"I think [the Chinese people] like Donald Trump," he said. "Dealmaker, businessman. He's had casinos in the past in Atlantic City, so I can't imagine him having some sort of anti-gaming policy."