Global casino operator Melco Resorts & Entertainment Ltd plans to invest “about US$125 million” in the remodelling of the existing 330-room Countdown hotel at City of Dreams in the Cotai district.
That is according to comments by Geoffrey Davis, Melco Resorts’ executive vice president and chief financial officer (CFO). He made the remarks in a Thursday conference call with investment analysts, following the firm’s announcement of its third-quarter 2025 results.
Melco Resorts posted net income of nearly US$74.7 million for the three months to September 30, on operating revenues that rose 11.4 percent year-on-year, to nearly US$1.31 billion.
Lawrence Ho Yau Lung, Melco Resorts’ chairman and chief executive, said on the call: “We have started the renovation of the Countdown Hotel, which we currently expect to open in the third quarter of 2026.”
He added that the casino firm plans “to simultaneously upgrade retail and food and beverage in this precinct of City of Dreams, and continue to elevate the quality of our product offerings”.
The renovation of the Countdown Hotel is part of Melco Resorts’ plans to upgrade its overall offering in the Macau market.
The CEO said on Thursday’s call that the group opened in July an area for premium mass customers at City of Dreams, dubbed “Signature Clubhouse”.
The zone includes “private gaming salons, hair services, a Formula One simulator and other exclusive amenities to provide a differentiated experience,” he added.
In September, the group reopened at City of Dreams a gaming area featuring 15 gaming tables, in a portion of the property close to one of the Light Rapid Transit system stations.
“This new area has been designed to appeal to a walk-in crowd with lower table minimums, and we have seen this area well utilised with a steady flow of new patrons,” stated Mr Ho.
At its majority-owned Studio City casino resort in Cotai, the company “unveiled a newly expanded high-limit gaming area along with four new private gaming salons at Epic Tower,” said the CEO.
These new venues aim to “provide an even more refined experience for our premium mass customers,” he added.
During the call, the group’s CFO said the company has been “laser-focused on debt reduction” following the pandemic period.
“We’ve had some meaningful success in paying down some of the debt that we incurred during the three challenging years of Covid,” noted Mr Davis.
He added: “Going into next year, we plan to take a more balanced approach using our free cash. And while debt reduction will continue to be a primary mandate, we aim to potentially recommence the quarterly dividend by the end of next year.”
During the call, the company’s management also revisited comments made in February, when it said it was considering “strategic alternatives” regarding its role in the City of Dreams Manila casino resort, in the Philippines.
Mr Davis stated: “We are approaching the end of the process with our advisers and should have a definitive assessment of our alternatives by the end of this year.”
The CFO said the decision “has always been an opportunistic exercise that’s been driven by the potential for a one-off debt reduction event, not any specific desire to exit the Manila market”.
He added: “We have and will continue to be very valuation-driven on this exercise, and we’ll continue to be disciplined in our approach to assessing the offers that we have for this business.”
