Melco Resorts & Entertainment Limited stated yesterday that employees from its closing venues will be reassigned to other company properties in Macau. Gaming tables, immovable properties, and electronic gaming machines from the affected sites will also be relocated to its other Macau properties.
The company announced that it will cease operations at Grand Dragon Casino and three Mocha Clubs – Mocha Hotel Royal, Mocha Kuong Fat, and Mocha Grand Dragon Hotel – by the end of 2025.
The move follows updated gaming laws requiring all satellite casinos to phase out profit-sharing arrangements by 2026, transitioning instead to fixed management fee models.
Melco was the first of Macau’s three satellite casino concessionaires to publicly announce strategic changes in response to these regulations. Of the 11 remaining satellite casinos, nine are affiliated with SJM Resorts, while Galaxy Entertainment Group and Melco each operate one.
Melco’s announcement came ahead of yesterday’s 5 p.m. press conference on the satellite casinos’ transition period.
Melco reshuffles board
Melco International Development Ltd., the parent company of casino operator Melco Resorts & Entertainment, announced key board appointments last week.
Geoffrey Stuart Davis, the company’s chief financial officer since 2017, was appointed as an executive director. Davis, 57, who also serves as executive vice president and CFO of Melco Resorts, will not receive additional pay for the role due to his existing responsibilities.
“Mr. Davis brings extensive financial expertise, having been with Melco Resorts since 2007 and previously a Citigroup research analyst covering the U.S. gaming industry,” the company said.
In addition, Henry Ko Chun Fung, 65, was named an independent non-executive director to fill the vacancy left by the late John William Crawford. Ko possesses a strong track record in Asia, having led telecom ventures and served as CEO of MelcoLot Limited from 2008 to 2017.
Ko will receive an annual director’s fee of HKD200,000, plus committee fees.
The company’s board now includes four executive directors and three independent non-executive directors.
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