Melco Opens Foreign-Only Game Box at Macau Facility
Lawrence Ho, chairman and CEO of Asian casino operator Melco Resorts, confirmed Thursday that the company has opened three gaming areas of the Macau-based casino for foreign players. Ho told IAG that the company’s City of Dreams and Studio City facilities now include a specially designated game area for foreign visitors.
Three foreign-only game zones in two gaming facilities:
The facilities were introduced at Studio City’s indoor water park and Thursday’s grand opening of the new hotel tower. The development is part of a $1.2 billion second-phase real estate expansion project. MELCO Chairman and CEO Lawrence Ho reportedly said, “Both Dream City and Studio City have foreign game zones. Two are in the City of Dreams and one is in Studio City.”
Ho went on to say, “There’s a lot of game tables … We believe there will be more visitors on May 1, as the crowds have increased and visa restrictions on visitors have been reduced.”
Melco seeks to offset COVID impact:
Expecting the upcoming holiday to boost earnings figures for Melco Resorts, management unveiled some of the company’s plans: “This year Melco is expected to have no losses, but the pandemic has caused the company to lose a lot over the past three years and bank debt has risen considerably.”
The statement may be based on last year’s financial results, which Melco reported a net loss of $931 million and adjusted wealth EBITDA of $600,000 in 2022, following a net loss of $810 million and adjusted wealth EBITDA of $235 million in 2021. Financial conditions have improved significantly for all Macau operators since they reopened after the pandemic in January, but Macau casino operators, including Melco, continue to seek ways to offset the impact of the pandemic as soon as possible.
Product Expansion:
Grand opening three game zones specifically designated for foreign players in time for the western holiday season is one of the ways to attract more foreign customers. Ho reportedly announced that Melco’s popular show “Dancing Water House” at the company’s flagship City of Dreams venue to compensate for the decline in revenue experienced during the COVID-19 pandemic will also soon open a new facility and re-launch.
