Studio City is ready for Phase 2
Melco is ready to start the second phase of its Macau development, which will include non-gaming entertainment.
Macau.- Melco CEO Lawrence Ho has revealed that plans to start the second phase of the Studio City resort are ready to proceed. Phase 2 of the facility includes more non-gaming entertainment and a giant water park.
Ho revealed the news at a preview of two non-gaming attractions at Melco’s resorts and said that the company is waiting for government approval in order to proceed with its plans, which include a water park that covers two mullion square meters and is set to become the largest in the Asian continent.
Moreover, the company recently announced that it will stop VIP operations at the facility on January 15, 2020. Investors will cease VIP rolling chip operations next year, though no justification was offered for this decision. Ho had previously said in November 2018 that Macau’s VIP had fallen faster than 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 continue beyond November 2019.
