Gaming | Morpheus to operate without junkets

Melco Resort’s upcoming resort, Morpheus, is set to rely on its own database in acquiring high-rollers instead of following the practice usually employed by casinos, which is to use junket companies to lure in VIPs.

“Eventually it’s much better to develop your own database than rely on junkets,” said  Lawrence Ho, chairman and CEO of Melco Resorts.

The USD1.1 billion hotel tower designed by the late architect Zaha Hadid will feature 780 rooms, restaurants, an executive lounge, a sky pool and VIP gaming, and villas at the top floors. The resort is slated to open next month.

Ho has previously clarified that Melco Resorts will only be moving some tables from its properties to Morpheus , as the new hotel tower features VIP and premium mass gaming tables.

He said last year that the new hotel tower would have space to accommodate up to 50 gaming tables.

Ho also remained positive about the city’s improved gaming revenues, as April’s results marked the 21st month of gains, recording a 28 percent surge.

“Year-to-date growth right now is well over 20 percent. It will normalize but will still blow out the original expectations,” he told Reuters.

The son of the 96-year-old tycoon, Stanley Ho, also noted that he had distanced himself from his father’s legacy, establishing his own empire.

“From day one, creating Melco was to be separate from that empire,” Ho said. “Everything we have done… we have tried to do it our way,” Ho added.

With a market capitalization of USD15.9 billion, Melco, has a license until 2022. According to Ho, the government has provided little detail on the licensing renewals for the six local casino operators.

“We are very interested in what the rebidding and the renewal process will be. The Macau government and even in Beijing they have kept it very close to their hearts right now,” he said.

The CEO also mentioned that the operator’s project in Cyprus will open a temporary casino by this summer, along with a full integrated resort by 2021.

Early this year, it announced its first 500 job opportunities for the project. LV