• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

CoD Macau mall extension open mid-year: Lawrence Ho

Mar 23, 2016 Newsdesk Latest News, Macau, Top of the deck  


CoD Macau mall extension open mid-year: Lawrence Ho

The expanded retail arcade at Macau casino resort City of Dreams (pictured) is due to open by the middle of this year, confirmed Lawrence Ho Yau Lung in an interview with Hong Kong’s Chinese-language subscription channel Now TV.

Mr Ho, co-chairman and chief executive of casino operator Melco Crown Entertainment Ltd, said he was “satisfied” with the progress regarding the leasing of shops in the new development.

Mr Ho also said that his firm would enhance the proportion of retail business in its non-gaming offerings. Non-gaming is a hot topic in Macau, as the government seeks to diversify the local economy and shift the city’s traditional dependence on hardcore, often high stakes, gambling. Part of the reason is that such gambling has diminished in scope, coinciding, investment analysts say, with China’s ongoing anti-graft campaign.

Melco Crown had recently upped the amount of shopping space in its Macau operations with the October opening of Studio City. The mass-market focused casino resort – 60-percent owned by Melco Crown – is at the opposite end of the Cotai Strip to City of Dreams.

Studio City has a mall called ‘The Boulevard at Studio City’ which covers 35,000 square metres (377,000 sq feet). It is a collaboration by Studio City International Holdings Ltd – a company in which Melco Crown has a 60-percent interest – and Taubman Asia, a subsidiary of U.S. mall specialist and real estate investment trust Taubman Centers Inc.

Studio City also has non-gaming attractions including a figure of eight-shaped Ferris wheel said to be Asia’s highest; and a virtual reality ride called ‘Batman Dark Flight’, based on the DC Comics character and Hollywood film franchise.

Brokerage Sanford C. Bernstein Ltd said in a note on Wednesday that it viewed Studio City as “a critical driver in expanding Melco Crown’s positioning on mass [customers], and to unlock Melco Crown’s stock value”.

Studio City launched with 200 new-to-market gaming tables – but no junket tables – and 1,233 new gaming machines. The Macau government allowed the property to add another 50 new-to-market tables in January.

Another positive for Melco Crown’s share value is that its properties “remain competitive” in a difficult Macau gaming market, in particular the flagship property City of Dreams, noted Sanford Bernstein analysts Vitaly Umansky and Simon Zhang.

“City of Dreams delivers outsized success in premium mass largely due to its strategic marketing expertise and initiatives, providing superior service and product offering, and strong premium mass host staff,” they wrote.

They added that the most significant positive catalyst for Melco Crown’s shares would be the casino operator’s potential acquisition of the 40 percent interest held by New Cotai LLC in Studio City. New Cotai is controlled by funds managed by United States-based investment firms Silver Point Capital LP and Oaktree Capital Management LP.

During the fourth quarter earnings call of Melco Crown on February 18, Mr Ho had said the company expected the new mall at City of Dreams to open before the launch of market rival Wynn Macau Ltd’s neighbouring Wynn Palace resort. That is due to open on June 25.

Mr Ho also said on the earnings call that the under-construction fifth hotel tower at City of Dreams, known as ‘Tower D’, and designed by award-winning architect Zaha Hadid, would be “opened in 2018”.

Melco Crown stated in a press release in March 2014 that the fifth tower at City of Dreams would have 40 floors and a gross floor area of 150,000 sq ms, containing approximately 780 guestrooms, suites and villas.


  • tweet
Related articles
  • NagaWorld to launch fresh premium mass gaming area in 2H
    NagaWorld to launch fresh premium mass...

    Jun 13, 2022  

  • Studio City new attraction for families open June 30
    Studio City new attraction for families...

    Jun 07, 2022  

More news
  • IGT completes US$165mln acquisition of iSoftBet
    IGT completes US$165mln acquisition...

    Jul 05, 2022  

  • Macau publishes amendment to public tender regulation
    Macau publishes amendment to public...

    Jul 05, 2022  


Latest News

IGT completes US$165mln acquisition of iSoftBet

IGT completes US$165mln acquisition of iSoftBet

Jul 05, 2022  

Casino equipment maker and digital gaming content provider International Game Technology Plc (IGT) says it has completed a process to acquire iSoftBet for approximately EUR160 million (US$164.6...
Read More
Macau publishes amendment to public tender regulation

Macau publishes amendment to public tender regulation

Jul 05, 2022  

Macau’s Grand Lisboa cordoned amid 13-case Covid cluster

Macau’s Grand Lisboa cordoned amid 13-case Covid...

Jul 05, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”I thought they were wise to recommend five locations across the kingdom [for casino resorts] rather than one or two locations in Bangkok”

Andrew Klebanow

Principal at industry consultancy C3 Gaming Group



Most Popular

  • Four Seasons Macao shops paused on Covid casesFour Seasons Macao shops paused on Covid cases July 4, 2022
  • GKL sees June casino sales up 34pct sequentiallyGKL sees June casino sales up 34pct sequentially July 4, 2022
  • Macau ops all likely had negative 2Q EBITDA: JP MorganMacau ops all likely had negative 2Q EBITDA: JP Morgan July 4, 2022
  • Macau due 3 new rounds of Covid tests, more than 850 casesMacau due 3 new rounds of Covid tests, more than 850… July 4, 2022
  • Public backing vital for a Thailand casino biz: expertsPublic backing vital for a Thailand casino biz: experts July 4, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us