Lawrence Ho
Melco Crown Entertainment remains hopeful that Macau’s government will allocate as many as 400 gaming tables to its new Hollywood-themed resort, Studio City, which will be opening on October 27, announced the casino operator’s co-chairman and CEO Lawrence Ho.
Melco, which is currently under the control of Stanley Ho’s son Lawrence Ho and Australian billionaire James Packer, yesterday revealed the opening date of their USD3.2 billion property – the first of a second wave of casino resorts due to open on the Cotai Strip.
Mr Ho told a media conference yesterday that the company is “actively” in talks with the government regarding gaming table allocations.
Galaxy Entertainment Group was awarded 150 gaming tables for its phase II projects, which opened last May.
“We’re extremely concerned about the gaming table allocation that they [Galaxy] have had. We hope the government will reward us more for the hard work we have put in over the last ten years. We certainly hope to get more than 150 tables. We hope to get 400,” he stressed.
Mr Ho added that, “400 is a realistic figure,” unlike “ridiculous requests” from other competitors who have asked for over 400 tables.
Melco’s Hollywood-themed resort features Asia’s highest Ferris wheel, along with other family entertainment elements developed by Time Warner Inc. The resort will feature a flight simulation with Batman flying through Gotham City and a 40,000 square foot indoor play center, which is set to include rises and interactive facilities with DC Comics characters like Daffy Duck and Bugs Bunny.
Although the local casino industry’s downward spiral appears to have abated, gaming revenue dropped for the 14th straight month in July. Gross gaming revenue fell 34.5 percent to MOP18.6 billion in July according to data released this week by the Gaming Inspection and Coordination Bureau.
Mr Ho foresees a rough second half of 2015 but he is hopeful that Studio City can catalyse the market.
“In the second half of the year it will be tough because we are going through a transition. Some gaming rooms have closed down and a number of employees have been laid off. I think this is just inevitable and this is really happening,” he acknowledged.
Mr Ho is nevertheless confident that in the longer term, more tourists will be heading to Macau wanting more than just to gamble.
If ten years ago Macau’s gaming industry relied mostly on the VIP market, now mass gaming and non-gaming elements are starting to take center stage. According to Mr Ho, the market has changed immensely and the company has prepared itself for such a change.
Studio City features a hotel boasting 1,600 rooms, a theater for magic shows, a 5,000- seat entertainment center and a TV production studio. Mr Ho highlighted the resort’s excellent location, as it is situated right next to the Lotus Border Checkpoint, which links Macau to Hengqin island.
Mr Ho said that his company will take full advantage of Studio City’s remarkable location, and of its uniqueness. “This is going to be a very independent and unique integrated resort.”
He recalled that further infrastructure projects, including the Hong Kong-Macau-Zhuhai Bridge and the LRT, are the key to helping Macau’s gaming industry develop.
Melco Crown Entertainment’s CEO said that they didn’t want to rush Studio City’s opening, thus choosing October 27 – a date that the company also regards as “auspicious.”
The casino operator yesterday opened Studio City’s doors to media representatives for the first time. Local and international media were invited for a tour of the property, which included an inspection of the casino’s mass gaming floor, in which at least nine smoking rooms have been installed, a ballroom, several hotel suites and the much-anticipated Ferris wheel.
The resort also features the House of Magic – a magic theater where magician and illusionist Franz Harary is expected to perform regularly – and a Pacha nightclub, in addition to a 5,000-seat multipurpose entertainment center.
‘The Audition’ premieres on opening date
‘The Audition,’ a short film promoting Studio City, will premiere on October 27, coinciding with the opening date of the resort, announced Melco Crown Entertainment’s co-chairman and CEO Lawrence Ho. The 16-minute promo – directed by Martin Scorsese and starring Leonardo DiCaprio, Robert De Niro, and Brad Pitt – will screen at the prestigious Venice Film Festival next month. A 30-second teaser of the short film was launched on Studio City’s official Facebook page last month.
No Comments