Friday, March 31, 2023

Tag: Melco

Melco’s Q3 impacted by Covid-19 restrictions in Macau and the Philippines

Melco’s CEO Lawrence Ho explained that “continued travel restrictions and quarantine measures in Macau”, together with the 42-day closure of City of Dreams Manila in the Philippines impacted Melco’s Q3 results.

Melco cancels acquisition of second stake in Crown Resorts

Melco cancels acquisition second stake crown resorts
Melco has opted not to purchase a second tranche of shares in Crown Resorts worth $880m, with the company citing the need to reassess all “non-core investments to be made in 2020” in the face of the ongoing impact of the coronavirus epidemic in Macau

Cyprus government believes Melco casinos will drive tourism

Cyprus flag
Deputy minister of Tourism Savvas Perdios has affirmed that Cyprus’ government considers Melco International Development an important partner in further developing visitation into the country. Perdios met Melco International chairman and CEO Lawrence Ho in late January at Cyprus Casinos’ C2 Nicosia. “We consider Melco an important contributor to Cyprus’ tourism in establishing the island as a popular and must-visit destination,” he...

Melco to end VIP operations at Studio City in 2020

studio city
Melco Resorts and Entertainment has announced that it will cease offering VIP gaming at its Studio City IR in Cotai in mid-January 2020. “Studio City International Holdings Ltd today announced that Melco Resorts (Macau) Ltd has informed the company via its subsidiary, Studio City Entertainment Ltd, that the gaming operator will cease VIP rolling chip operations at the Studio City...

Melco’s third Cyprus casino touches down at Larnaca International Airport

Melco, Cyprus, casino, Larnaca International Airport
Situated in two different spaces at the Airport terminal, C2 Larnaca offers a total of 42 slot machines, while the opening follows on the heels of C2 Nicosia earlier in December. Integrated Casino Resorts Cyprus - a joint venture between Melco Resorts and Entertainment and Cyprus Phassouri (Zakaki) Ltd - has launched C2 Larnaca at the Larnaca International Airport. It is...

Cyprus Casinos “C2” welcomes 175,000 visitors in first three months

Melco’s temporary casino in Cyprus is “exceeding expectations”, while the company is set to open three more satellite casinos before the end of the year. Melco International Development has revealed that Cyprus Casinos “C2”, its temporary casino in Limassol has attracted over 175,000 customers since the property opened its doors on 28 June. On 25-26 September, Cyprus Casinos hosted a series...

Melco confirms three satellite casinos to open before end of 2018

Melco International Development has confirmed that three of its satellite casinos in Cyprus are scheduled to begin operations in Nicosia, Larnaca, and Paphos later this year. Another satellite casino in Ayia Napa will open “in the spring of 2019”, the Hong Kong-listed company said in its interim report on 19 September. Back in July, Melco International stated that the Cyprus-based consortium...

Melco’s temporary Cyprus casino receives 34,000 visitors in three weeks of opening

Melco International Development’s temporary Cyprus 13m gaming facility, Cyprus Casinos (C2), has seen attendance rise in the first three weeks since it opened, raising hopes following a slow start. Within its first three weeks of operation, over 34,000 visitors from 41 different countries visited the property, the first licensed casino in the Republic of Cyprus, while more than 6,000 visitors...

Melco’s temporary Cyprus casino receives 34,000 visitors in three weeks of opening

Melco has announced that it will open a satellite casino hosting around 50 gaming machines in the Larnaka International Airport terminal, within the next three months. Melco International Development’s temporary Cyprus €13m gaming facility, Cyprus Casinos (C2), has seen attendance rise in the first three weeks since it opened, raising hopes following a slow start. Within its first three weeks of...

Melco opens C2 ‘pop-up casino’ in Limassol

Melco International Development opened the doors of its temporary Cyprus casino to the public on 28 June. The $15m venue, named C2, is the first of the five satellite gaming facilities that will open in Cyprus in the coming months as the construction of the E550m City of Dreams Mediterranean resort moves forward. The new property occupies a 4,600sqm space which...

Lawrence Ho: “It’s about building beyond gaming”

Speaking during his opening keynote address at G2E Asia, Lawrence Ho, chairman and CEO at Melco Resorts and Entertainment highlighted what sets the company apart from its competitors, and gave an insight into his vision for the future. Back in 2008 our competition thought, ‘if you build it, they will come’. They set their sights low. I refuse to think...

Morpheus launches sans new gaming tables

Melco Morpheus building Opening
While the DICJ did not authorise any new gaming tables for Melco Resorts and Entertainment’s Morpheus hotel tower, analysts are confident that the additional hotel rooms the property brings to the table will help grow the company’s top line. Melco Resorts and Entertainment’s newest hotel tower at City of Dreams, Morpheus, officially opened its doors on 15 June, however Macau’s...

Melco to launch temporary Cyprus casino in late June

Melco International Development stated that the temporary casino will begin operations in June during the groundbreaking ceremony for City of Dreams Mediterranean. At the groundbreaking ceremony for City of Dreams Mediterranean, Melco International Development confirmed that its temporary casino will open on 28 June. “Today, we are not just laying the foundation stone of the integrated casino resort but also entering...

Morpheus opening helps Melco stay ahead of the curve

With the opening of Morpheus, Melco’s newest hotel on Cotai, scheduled for mid-June, the firm’s chairman and CEO, Lawrence Ho has underlined the company’s focus on the premium mass market. There is a Confucian maxim which states, “harmonious while different”, that could be said to characterise the business philosophy of Melco Resorts and Entertainment chairman and CEO, Lawrence Ho Yau-lung. Ho...

Melco open Osaka HQ in significant step toward Japanese IR

Osaka Japan
Melco Resorts & Entertainment has opened an office in Osaka in a bid to capitalise on the fledgling Japanese gambling market. The new facility, first mooted in October, is located close to the proposed Osaka Harbour site of the $7.35bn man-made island Yumashima, hailed as the potential home for the city’s gambling industry by 2024. “We will make the necessary investments,”...

Melco gambles on British and Russian visitors in Cyprus

City of Dreams Mediterranean melco
City of Dreams Mediterranean is aiming to capture visitors from the UK and Russia, but an uncertain geo-political situation could mean Melco will have to look to develop tourism from further afield suggests GBGC’s CEO, Warwick Bartlett.   Melco Resorts has announced that its new E550m resort development, City of Dreams Mediterranean - currently under construction in Cyprus - will seek...

Melco ups the ante on Cyprus casino scheme

lawrence ho melco
Hong Kong-listed casino investor Melco has increased the size of its majority stake for a second time, proving its ready to bet big on its game-changing Cyprus casino project.   Casino investor Melco International Development Ltd. is increasing the size of its majority stake in its $500m Republic of Cyprus casino project. The company, which already held 70.74 percent of ICR...

Melco building up in Japan

  Despite the non-existent casino industry, the Asian casino operator, Melco Resorts and Entertainment, has been making movements to build their influence in Japan.   Appointing Ako Shiraogawa as the president of their Japan branch, the company has also opened up two new offices, one in Tokyo and one in Osaka. With this increased effort in integrating into Japan’s business and tourism sectors,...

Melco becomes leading stakeholder in Cyprus casino project

ICR - Melco Cyprus hard Rock
Casino operator Hard Rock International has sold off its stake in its Cyprus integrated resort joint venture - with Melco International Development becoming the majority stakeholder in the project.   On 26 June, the Republic of Cyprus government officially signed its contract with a consortium consisting of Hard Rock, Melco and Cyprus Phasouri (Zakaki) Limited to build Europe’s first integrated resort...

Battle Royale: Execs in the ring over one of two IR licences

Casino Review - Japan Casino market IR licence battle royale
The race to secure one of only two IR licences to operate in the long-coveted Japanese casino market is heating up. With Sands, MGM Melco and Genting all professing to do whatever it takes, there will be some sore losers.   The largest casino operators on the planet are piling in with their claims on Japan’s fertile casino market - with...

Studio City: Entertainment in full HD

Studio City
Leroy Daniel, executive director of surveillance operations for Melco Crown Entertainment, discusses the operator’s close partnership with Dallmeier when it came to the installation of the world’s largest full HD video security system at Studio City in Macau.   When it opened its doors in October last year, Studio City marked a milestone in Macau’s journey to become the entertainment capital...