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Tag Archives: Melco Entertainment

China – Melco celebrates construction milestone with Studio City Phase Two topping out ceremony

Melco Resorts & Entertainment, a leading global developer, owner and operator of integrated resort facilities, today held a topping out ceremony and unveiled the design concept for the highly anticipated Studio City Phase 2, scheduled to complete before end of December 2022. The Ceremony was hosted by Lawrence Ho, Chairman and CEO of Melco Resorts…

China – Melco hopes for ‘smooth road’ ahead with no new COVID cases in 144 days

Melco Resorts’ revenues for the second quarter of 2020 were US$0.18bn, representing a decrease of approximately 88 per cent from US$1.46bn for the comparable period in 2019. The decrease in total operating revenues was primarily attributable to softer performance in all gaming segments and non-gaming operations as a result of the COVID-19 pandemic, which resulted…

Cyprus – Melco reopens Cyprus Casinos with Larnaca venue set to leave airport

Cyprus Casinos ‘C2’, the first and only authorised casinos in the Republic of Cyprus, has welcomed back guests to its gaming floors on June 13 to a safe and pleasant environment, closely adhering to all the relevant guidelines issued by the Minister of Health. Guests can once again experience their favourite games and the highest…

Japan – Melco remains focused on winning Yokohama licence despite COVID-19 slowdown

Despite its Q1 revenues being savaged by the effects of the COVID-19 pandemic with a US$364m loss, Melco Resorts has said it won’t be pulling out of the race for an integrated resort in Yokohama like rival operator Las Vegas Sands. Revenue was down 40 per cent across the board to US$964m, with EBITDA down…

Cyprus – Melco opens fourth satellite casino in Cyprus with Paphos opening

Melco Entertainment’s Cyprus Casinos (C2) has opened its fourth satellite casino in Cyprus with the debut of a 50 slot gaming floor in Geroskipou, Paphos. C2 Casinos president Craig Ballantyne said: “We are delighted to be launching our fourth and last satellite casino, after the opening of C2 Limassol, the first licensed casino on the…

Australia – Coronavirus scuppers Melco’s deal for more shares in Crown

The threat of the coronavirus has scuppered its first merger and acquisition deal with Melco Entertainment axing plans for a second purchase of a 9.99 per cent share in Australian casino operator Crown with the closure of Melco’s Macau casinos and the fall in the tourism sector being blamed. The total planned purchase, announced last…

Japan – Ho pitches cost of building a metropolitan IR in Japan upwards of US$10bn

In an interview with Bloomberg, Lawrence Ho, Melco Resorts & Entertainment Chairman and CEO, has pitched the cost of building a metropolitan IR in Japan at being upwards of US$10bn. Mr. Ho said: “To build the greatest and most amazing IR in the world in Japan needs to be situated in a city where the…

Cyprus – Cyprus Gaming and Casino Supervision Authority taking no chance with junkets

The Cyprus Gaming and Casino Supervision Authority has signed up three different companies to carry out checks on international junket operators before they are allowed to work with City of Dreams Mediterranean. The 500m resort casino set to open in Cyprus in 2021 will be run by Melco Resorts & Entertainment, a company that has…

Cyprus – City of Dreams Mediterranean to ease island’s dependence on summer tourism

City of Dreams Mediterranean aims to attract 300,000 tourists to Cyprus each year following its proposed opening at the end of 2021, making the island less dependent on seasonal tourism. Craig Ballantyne, Property President of City of Dreams Mediterranean and Cyprus Casinos, said: “With the opening of the Integrated Casino Resort, we aim to attract…