The promoters of Macau Hollywood Roosevelt Hotel, a property under construction on land adjacent to Macau Jockey Club, have dropped plans to include a casino in the property.
Aaron Iu, a representative from Macau development company Yoho Group Ltd, on Wednesday told reporters that the firm had reconsidered its original plans and the venue would not feature gaming facilities.
The initial US$350-million project, announced in 2013, included an area with more than 5,000 square metres (53,820 sq feet) for gaming operations, according to media reports.
Macau Hollywood Roosevelt Hotel is scheduled to open in the first half of 2016. The five-star property will feature about 370 rooms. It is located near Cotai, Macau’s answer to the Las Vegas Strip, where there are already several major casino resorts in operation and several more under construction.
Within the perimeter of the Macau Jockey Club, there is also a casino, licensed by SJM Holdings Ltd and operated by Hong Kong-listed Paradise Entertainment Ltd. The gaming facility had been closed since 2004 but was reopened in May last year.
According to previous statements by Yoho Group, Macau Hollywood Roosevelt Hotel is to adopt a 1950s style of U.S. design and decor similar to that of the Hollywood, Los Angeles, hotel of the same name. The latter venue has been a haunt for Hollywood celebrities since it opened in 1927.
Feb 22, 2024Casino operator Genting Singapore Ltd posted annual net profit of nearly SGD611.6 million (US$456.0 million) for full-year 2023, up 79.8 percent from the prior year. That was on revenue that rose...
”The upswing in visitation and gaming revenue is likely to aid Fitch-rated casino operators with a presence in Macau in reducing their debt levels”