Melco’s Studio City to stop VIP gaming
The company has revealed that VIP gaming will not be offered from January 15, 2020.
Macau.- Melco Resorts & Entertainment has revealed that its Macau Studio City will stop VIP operations on January 15, 2020. Investors will cease VIP rolling chip operations next year, though no justification was offered for this decision.
The company informed this week the final decision, but it comes as no surprise as Melco’s CEO Lawrence Ho had previously said in November that Macau’s VIP had fallen faster than what they had expected, leading to a 91% fall in MRE’s third-quarter profit. He also noted that there was no assurance that VIP activity could continues beyond November 2019.
The facility, which opened its doors during the fourth quarter of 2015, was the first integrated resort to open without VIP gaming in Macau. A year later, the company introduced the opening of VIP rooms from Suncity Group and Tak Chun Group.
Earlier this month, a number of analysts projected that VIP market would fall higher than 5% in the first half of the year, before enjoying low single digits in the last six months of 2019.
