{"id":27063,"date":"2022-02-08T07:53:09","date_gmt":"2022-02-08T10:53:09","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=27063"},"modified":"2026-04-23T11:32:01","modified_gmt":"2026-04-23T14:32:01","slug":"studio-city-phase-ii-budget-cut-to-us1-2bn","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/studio-city-phase-ii-budget-cut-to-us1-2bn","title":{"rendered":"Studio City Phase II budget cut to US$1.2bn"},"content":{"rendered":"\n

Studio City’s Phase II budget has been cut mainly due to the Covid-19 pandemic.<\/p>\n\n\n\n\n\n\n\n

Macau.- Studio City International Holdings Ltd, the promoter of the Studio City casino resort in Macau, has said that the budget for the second phase of the complex had been cut to about US$1.2bn. That’s a 7.7 per cent decrease from the previously announced US$1.3bn investment.<\/p>\n\n\n\n

The company stated: \u201cAs of November 30, 2021, we had incurred US$661.2m of aggregate costs <\/strong>relating to the development of our remaining project, primarily\u2026 the initial design and planning costs and construction costs.”<\/p>\n\n\n\n

Phase II will include approximately 900 additional luxury hotel rooms and suites<\/strong>, one of the world\u2019s largest indoor\/outdoor water parks, a Cineplex, fine-dining restaurants and MICE space. <\/p>\n\n\n\n

Macau casino operator Melco Resorts & Entertainment has implemented a cost reduction program to help manage the company’s challenges due to the Covid-19 pandemic.\u00a0As a result of these measures, the company expects to break even on adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) once it reaches “30 per cent to 35 per cent” of its historical gross gaming revenue run-rate.<\/p>\n\n\n\n

Last November, the casino operator reported that it was advancing with Studio City casino resort\u2019s Phase II and expected to complete the development before the deadline it requested in May<\/a>. The deadline was extended <\/strong>to December 27, 2022, <\/strong>from the <\/strong>original date of May 31, 2022.<\/p>\n\n\n\n

Also in December 2021,\u00a0Melco Resorts & Entertainment<\/strong>\u00a0confirmed that it was going to\u00a0bring the W Hotels Worldwide brand to Studio City Phase II<\/a>\u00a0after signing a partnership with Marriott International.\u00a0The company said\u00a0W Macau \u2013 Studio City\u00a0<\/strong>will complement Studio City\u2019s other hospitality offerings, which include one of Asia\u2019s largest indoor and outdoor water parks, shows, and state-of-the-art MICE space.<\/p>\n","protected":false},"excerpt":{"rendered":"

Studio City’s Phase II budget has been cut mainly due to the Covid-19 pandemic.<\/p>\n","protected":false},"author":176,"featured_media":17774,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Studio City International Holdings Ltd has reduced the budget for Studio City Phase II in Macau by 7.7% to US$1.2bn, primarily due to the COVID-19 pandemic's impact. This development, which includes 900 luxury hotel rooms and MICE space, is now expected to complete by December 2022, with Melco Resorts & Entertainment implementing cost reduction programs to achieve adjusted EBITDA break-even at 30-35% of historical GGR.","focusai_entities":"Studio City International Holdings Ltd, Melco Resorts & Entertainment, Marriott International, W Hotels Worldwide","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Phase II ROI Impact","query":"What is the projected return on investment for Studio City Phase II, considering the revised US$1.2bn CAPEX and extended completion timeline to December 2022?"},{"label":"Melco GGR Strategy","query":"How does Melco Resorts & Entertainment's adjusted EBITDA break-even target, tied to 30-35% of historical GGR, influence its capital allocation and operational strategy in the Macau market?"}],"footnotes":""},"categories":[16338,163],"tags":[23906,22113],"class_list":["post-27063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-macau-casinos","tag-studio-city"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=27063"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27063\/revisions"}],"predecessor-version":[{"id":27069,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27063\/revisions\/27069"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17774"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=27063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=27063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=27063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}