Studio City Macau, which opened with only mass market and high stakes tables and slots has said they will consider adding VIP junket facilities to their offering. The massive family friendly integrated resort, which opened on the southern tip of Cotai in October, has seen less than desirable returns since their debut, but are operating at a profit.
Ted Chan Ying Tat, chief operating officer of Melco Crown Entertainment Ltd, told local media Friday, “we have tried adding various elements here, hoping that when the supporting infrastructure is better, the environment will also get better,” Mr Chan said, following up a response to queries about the property’s performance.
He also added that hotel room occupancy has reached 95 percent, according to a report in GGRAsia.
According to the report, Studio City had net revenue of US$178.7 million and adjusted earnings of US$22.1 million for the first quarter of 2016.
Crown Resorts Ltd announced in an Australian stock exchange filing last week that they planned to spin off most of their non-domestic assets, saying that they believed properties in under performing markets were hobbling the value of the Australian resorts. That plan would see them explore an IPO for an Australian property trust wherein Crown would retain 51% of the shares. That news and a 100 percent dividend plan have Moody’s looking at Crown Resorts for a possible downgrade.
As of 6-19 Melco Crown Entertainment Limited (NASDAQ:MPEL) stocks had picked up 2.91% during the last week, but were still down 1.195 over the last 4 weeks. The possibly limited rally saw Melco Crown outperforming the S&P 500 by 4.15%.