Tag Archives: Melco Resorts
China – Melco hopeful of signs of recovery by mid-March
Melco Resorts is expecting to see signs of recovery by mid-March, according to Lawrence Ho, Chairman and CEO, who believes border with mainland China could be back to normal within two to three months. Mr. Ho said: “We remain optimistic on the recovery in Macau and continue to expect increased visitation in the near-term. Hopefully…
Cyprus – Melco temporarily closes two of its satellite casinos in Cyprus
Cyprus Casinos, the Cyprus operating arm of Melco Resorts & Entertainment, has closed two of its five casinos as infections rise and a second wave of the Coronavirus pandemic threatens the island. Cyprus Casinos said: “With utmost priority the safeguard of your health and a sense of responsibility, Cyprus Casinos Limassol will be closing at…
Cyprus – City of Dreams Mediterranean extends deal with Passport Technology
Passport Technology is extending its services with Integrated Casino Resorts (ICR) Cyprus and the City of Dreams Mediterranean. Beginning in early 2019, Passport was chosen as the premier provider of cash access services for ICR Cyprus and has been chosen to extend this service for a further three years. “We’re very excited to continue this…
China – Melco reiterates financial commitment to Japanese dream
Despite the downturn in the travel sector severely restricting Melco Resorts revenues in the third quarter, Chairman and Chief Executive Officer, Lawrence Ho was keen to emphasise the Macau operator’s continuing commitment to investing in the future Japanese casino sector. “I want to highlight our unwavering commitment to bring to the country the best IR…
Philippines – City of Dreams Manila makes almost $50m loss for Melco
Melco Resort’s City of Dreams Manila IR in the Philippines slumped to a net loss of PHP2.41bn (US$49.5m) for the second quarter of 2020 as ‘a result of the temporary closures of business and imposition of prohibition measures’ related to the coronavirus pandemic. Revenue at the Manila casino came in at PHP387.2m, falling from PHP9.17bn…
Cyprus – Melco brings Grant Johnson in from Macau to oversee Cyprus Casinos
Melco Resorts & Entertainment has named Grant Johnson as Senior Vice President, Property General Manager of its Cyprus operations, including City of Dreams Mediterranean and Cyprus Casinos C2, following the retirement of Craig Ballantyne. Mr. Ballantyne stepped down as Property President in April this year, with Mr. Johnson now responsible for the continued development of…
China – Melco reports three per cent increase in fourth quarter revenues
Melco Resorts & Entertainment reported operating revenues for the fourth quarter of 2019 of US$1.45bn, representing an increase of approximately three per cent from US$1.41bn for the comparable period in 2018. The increase in total operating revenues was primarily attributable to better performance in the mass market table games segment. Operating income for the fourth…
Japan – Melco pulls out of Osaka bid to put ‘Yokohama First’
Melco Resorts and Entertainment has come out with a Yokohama First policy, ending its interest in Osaka as a site for a resort project. The move leaves MGM Resorts, Genting Singapore and Galaxy Entertainment battling it out for a licence in Osaka and pitches Melco against Las Vegas Sands and a host of other operators…
Australia – Melco tipped to try for outright control of Crown Resorts
Crown Resorts is now a prime target for takeover by Melco Resorts & Entertainment, according to gaming analyst Sanford C Bernstein who believes Melco will be approved for its acquisition of a 19.99 per cent share in the Australian casino group before bidding for full ownership. Bernstein’s Vitaly Umansky, Eunice Lee and Kelsey Zhu believe…
