Melco expects to launch Studio City Phase II by December 2022
Macau casino operator Melco Resorts & Entertainment hopes to launch Studio City casino resort’s Phase II before December 27, 2022.
Macau.- Melco Resorts & Entertainment has reported that it is advancing with Studio City casino resort’s Phase II and expects to complete the development before the deadline it requested in May. The deadline was extended to December 27, 2022 from the original date of May 31, 2022.
In its financial results for the third quarter of 2021, Lawrence Ho, group chairman and CEO, said: “We will focus on entertainment and diversification, family-oriented amenities. The past summer we opened our water park in Studio City Phase I, with Phase II to be a continuation of this entertainment focus.”
Phase II will include approximately 900 additional luxury hotel rooms and suites, one of the world’s largest indoor/outdoor water parks, a Cineplex, fine-dining restaurants and MICE space.
Group chief operating officer, David Sisk, said the company hopes to expand the gaming area of the venue. It currently holds about 1,233 gaming machines and 250 table games.
Melco Resorts posts US$446.4m in operating revenue for Q3
Melco Resorts & Entertainment has reported total operating revenue of US$446.4m for the third quarter of the year. The figure was down 21 per cent from US$566.4m in the previous quarter but up 110 per cent year-on-year.
The company attributed the yearly increase to non-gaming operations and inbound tourism in Macau. The quarterly decline, however, was related to new outbreaks of Covid-19. The casino operator registered GGR of US$402m, down 28 per cent when compared to the previous quarter. Adjusted property EBITDA reached US$31.9m, compared to negative US$76.7m last year.
