Melco confident in city’s long-term development amid downturn

At a company event, Clarence Chung, board director of Melco Resorts and Entertainment, reiterated the company’s confidence in Macau, despite the recent negative economic atmosphere amid the Covid-19 pandemic.
Chung stressed that the company supports the government’s move in amending the gambling law, because the current version of the law was enacted back in 2001, and the environment has changed significantly since then.
Echoing an earlier statement by Lawrence Ho, chairman & CEO of Melco, Chung noted, “we are very confident in mid to long-term development,” Discussing the renewal of the concession, the executive did not offer any specifics, but stressed that the company is more than happy to continue investing in Macau.
“In the past years, we have invested more than MOP100 billion in Macau,” Chung said. “Looking into the future, we will continue our investments as a representation of our confidence in the city in the mid to long- term.”
On the proposal by the government to place representatives in each gambling concessionaire, Chung noted the company’s support of the proposal and stressed that “this is not new in a Macau context.” He took utility companies as examples to justify this point, additionally citing the vice director of the Gaming Supervision and Coordination Bureau as making a similar comment.
Discussing non-gambling offerings, David Sisk, chief operating officer of Macau Resorts, Melco, revealed that the company will introduce new retail brands that Macau has not previously seen. The company had previously announced that Hong Kong artistes such as Aaron Kwok and Joey Yung had agreed to do de-facto resident shows at the Studio City in Macau.
With regards to the theme park project in Zhongshan, Chung revealed that the company is conducting the preliminary master plan. “We have instilled quite a number of thoughts into the project,” he said, adding, “We are trying to [apply] our experience gained in Macau to enrich elements in our Zhongshan project.”
He said that more details will be released when they become available. He reiterated that although the company will soon extend its footprint to other parts of the Greater Bay Area, it will retain its role in Macau.
When questioned about the company’s withdrawal from the Tokyo bidding, Chung said that the business environment has seen a lot of changes in the past two years. “In our perspective, considering all facets in Japan, we have suspended our intention to invest in Japan,” he said.

Melco reaches nearly 95% vaccination rate

Melco Resorts & Entertainment has reached close to 95% vaccination rate for its Macau colleagues. The effort is part of Melco’s “Get the Jab” program, in which the company earmarked HKD16 million in incentives towards the goal of increasing immunity.
The second “Get the Jab” HKD3 million lucky draw was hosted yesterday, with three fully vaccinated colleagues each winning HKD1 million.
“We look forward to further travel integration between mainland China and Macau once Macau achieves an acceptable vaccination rate. We remain fully committed to doing our part for the betterment of the community,” said Lawrence Ho, chairman & CEO of Melco Resorts & Entertainment,