In Macau and the boss for Asian casino operator Melco Resorts and Entertainment Limited has reportedly announced that his firm is planning to begin construction on the second phase of its giant Studio City Macau venue by the end of the year.
According to a report from Inside Asian Gaming, Lawrence Ho Yau Lung serves as Chairman and Chief Executive Officer for the Hong Kong-headquartered company and made the revelation during a Thursday conference call to discuss its third-quarter financials.
Inside Asian Gaming reported that the government of Macau has mandated that Melco Resorts and Entertainment Limited must have finished all work on the envisioned expansion of the 1,600-room Cotai Strip venue by late-July of 2021 while Ho’s disclosure comes after his firm missed its originally intended September start date.
Ho reportedly told investors…
“We hope to commence construction before year-end and have budgeted $1.35 billion to $1.41 billion for the Studio City Macau expansion, which is expected to have two hotel towers, a Cineplex, one of the world’s largest indoor water parks and additional gaming space.”
Melco is also responsible for the enclave’s City of Dreams Macau and reportedly stated that this 1,400-room venue is planning to unveil a trio of new luxury villas for its Morpheus hotel as well as a wide-ranging overhaul of its compatriot 290-room Nuwa facility by late-January of 2021.
David Sisk, Chief Operating Officer for City of Dreams Macau, reportedly told investors that Melco moreover intends to completely renovate his facility’s luxury The Countdown Hotel before reopening the 26-room facility as the Libertine sometime in 2021.
Sisk reportedly proclaimed…
“We had some space that we have shelved out when we built Morpheus so we have space for three villas. We’ve also got another space [and] we’re looking to add two large suites. We’re designing that right now and it should be pretty spectacular when it comes to the market. It’s a very contemporized design. The designer is the same designer who did Ducasse for us and Voyage, so he is a very dynamic guy out of France.”