{"id":28023,"date":"2022-03-14T06:35:38","date_gmt":"2022-03-14T09:35:38","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=28023"},"modified":"2026-04-23T10:34:46","modified_gmt":"2026-04-23T13:34:46","slug":"studio-city-phase-ii-to-be-completed-by-september-says-melco-chairman","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/studio-city-phase-ii-to-be-completed-by-september-says-melco-chairman","title":{"rendered":"Studio City Phase II to be completed by September, says Melco chairman"},"content":{"rendered":"\n

Lawrence Ho Yau Lung, chairman and chief executive of casino operator Melco Resorts and Entertainment Ltd, has said he expects Studio City\u2019s Phase II construction to be finished by September.<\/p>\n\n\n\n\n\n\n\n

Macau.- Lawrence Ho Yau Lung<\/strong>, chairman and chief executive of Melco Resorts and Entertainment Ltd, has said he expects the second phase of construction of Melco’s majority-owned Studio City casino resort in Cotai to be complete September.<\/p>\n\n\n\n

Studio City Phase II will include Macau’s first W hotel from Marriott International, which is scheduled to open in December along with the rest of Phase II facilities. The expanded two luxury hotel towers will have a total of 900 rooms. W Macau – Studio City will have 557 guest rooms, including 127 suites.<\/p>\n\n\n\n

Studio City\u2019s Phase II budget<\/a> has been reduced to US$1.2bn from a previously reported US$1.3bn, according to a February corporate filing from casino resort operator Studio City International Holdings Ltd.<\/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.\u201d<\/p>\n\n\n\n

Ho Yau Lung also confirmed that Melco has applied for a six-month extension of its current concession. Media in Macau have reported that casino operators<\/a> must pay between MOP50m and MOP80m<\/strong> (US$10m) for the extension of their current licences until the end of the year, with retenders expected in the last quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"

Lawrence Ho Yau Lung, chairman and chief executive of casino operator Melco Resorts and Entertainment Ltd, has said he expects Studio City\u2019s Phase II construction to be finished by September.<\/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":"Melco Resorts and Entertainment's chairman, Lawrence Ho Yau Lung, anticipates Studio City Phase II completion by September, with the W Macau hotel opening in December. The project's budget has been reduced to US$1.2bn. Concurrently, Melco has applied for a six-month concession extension in Macau, amidst reports of significant fees for such extensions ahead of anticipated Q4 retenders.","focusai_entities":"Lawrence Ho Yau Lung, Melco Resorts and Entertainment Ltd, Studio City International Holdings Ltd, Marriott International","focusai_location":"Macau, Cotai","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.8), operator_casino (0.9), marketing_crm (0.7), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Concession Extension Impact","query":"What are the specific financial and operational implications for Melco Resorts of the reported MOP50m-MOP80m concession extension fee, particularly in the context of the impending Q4 retender process?"},{"label":"Studio City ROI","query":"How does the revised US$1.2bn budget for Studio City Phase II, coupled with the projected 900 new rooms, alter the expected return on investment and competitive positioning within the Cotai integrated resort market?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23906,22113],"class_list":["post-28023","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-macau-casinos","tag-studio-city"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28023","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=28023"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28023\/revisions"}],"predecessor-version":[{"id":28057,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28023\/revisions\/28057"}],"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=28023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=28023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=28023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}