• 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

Studio City VIP operations extended to Jan 2021: filing

Jan 15, 2020 Newsdesk Latest News, Macau, Top of the deck  


Studio City VIP operations extended to Jan 2021: filing

The Studio City casino resort (pictured) in Macau’s Cotai district will continue “VIP rolling chip operations” until January 2021, the parent company, Hong Kong-listed Melco International Development Ltd, said in a Tuesday filing.

In January last year, the group had announced that it would shutter VIP operations at Studio City by this January.

Tuesday’s filing on the continuation of VIP play at the resort did not clarify if the company was referring to all VIP operations at the property, namely in-house VIP play and VIP play offered via external junket partners.

Studio City International Holdings Ltd, the controlling entity of the Studio City casino resort, is a listed subsidiary of casino developer and operator Melco Resorts and Entertainment Ltd. The latter’s subsidiary, Melco Resorts (Macau) Ltd, runs the gaming operations at the Studio City property. Melco Resorts and Entertainment is a listed subsidiary of Melco International, a firm controlled by gaming entrepreneur Lawrence Ho Yau Lung. Mr Ho is also the group’s chairman and chief executive.

Melco International said in its Tuesday filing: “On 14 January 2020, Studio City [International] announced that the gaming operator [at the property] had informed Studio City [International] that, the gaming operator will continue VIP rolling chip operations at the Studio City casino until 15 January 2021, subject to termination by a 30-day notice.”

Melco International did not specify reasons for the decision. A press release on Tuesday from Studio City International also did not address the rationale.

Market position

The history of VIP play at Studio City is a mixed bag. When the property opened in October 2015, it had no VIP play. At the time, Mr Ho – then co-chairman as well as chief executive of what was then Melco Crown Entertainment Ltd – said that was a “business decision” related to the number of new-to-market live dealer tables allowed at the property by the Macau government.

In August 2016, the casino operator stated it planned to add VIP play to the gaming at Studio City. The announcement followed some commentary from investment analysts about a slow ramp up in Studio City’s gaming business. It was later announced that VIP operations were starting in early November that year.

In October 2019, on a conference call to discuss the group’s third-quarter earnings, Mr Ho said that the group had earmarked “US$1.35 billion to US$1.4 billion” for the extension of its majority-owned Studio City property. The expansion plans include two hotel towers, a cineplex, “one of the world’s largest indoor water parks” and “additional gaming space,” said the CEO. Construction work for an ice rink at Studio City was “well under way, with the opening anticipated in mid-2020,” he added at the time.

Melco International remains the controlling shareholder of Studio City International, with a 54.3-percent voting interest in the company, according to Studio City International’s most recent annual report.

In May last year, a minor partner in the Studio City property, New Cotai Holdings LLC, filed for protective bankruptcy in the United States, citing “unanticipated declines in the Macau gaming market” and a lower-than-anticipated allocation of gaming tables as some of the reasons for its trading woes. New Cotai is backed by investment funds Silver Point Capital LP and Oaktree Capital Group LP.

Macau’s casino gross gaming revenue (GGR) contracted 3.4 percent year-on-year in 2019, shows data from the local regulator, the Gaming Inspection and Coordination Bureau. According to Macau’s Secretary for Economy and Finance, Lei Wai Nong, the overall decline was related to a contraction in GGR generated by VIP play, down by 18.5 percent in year-on-year terms.


  • tweet
Related articles
  • Gaming-linked crime in Macau up 24pct y-o-y in 1Q: govt
    Gaming-linked crime in Macau up 24pct...

    Jun 08, 2023  

  • China Politburo meeting key for any policy shift: UBS
    China Politburo meeting key for any...

    Jun 07, 2023  

More news
  • No Macau op yet asked GGR tax rate exemption: govt
    No Macau op yet asked GGR tax rate...

    Jun 09, 2023  

  • IGT casino, digital biz listing has potential: analyst
    IGT casino, digital biz listing has...

    Jun 09, 2023  


Latest News

No Macau op yet asked GGR tax rate exemption: govt

No Macau op yet asked GGR tax rate exemption: govt

Jun 09, 2023  

None of Macau’s six gaming concessionaires have so far applied for a form of “exemption” from the full 40-percent tax rate on casino gross gaming revenue (GGR), as potentially applicable...
Read More
IGT casino, digital biz listing has potential: analyst

IGT casino, digital biz listing has potential: analyst

Jun 09, 2023  

G2E Asia 2023: Singapore

  • Jackpot tech focus on tables not just slots: Paltronics
    Jackpot tech focus on tables not just slots: Paltronics

    Jun 09, 2023  

    Commercial opportunities for utilisation of...
  • Konami taps market-tried slots to refresh Asia op offer
    Konami taps market-tried slots to refresh Asia op offer

    Jun 08, 2023  

    Gaming content and equipment maker Konami says it is...
  • L&W building game content across 3 pillars: Ken Jolly
    L&W building game content across 3 pillars: Ken Jolly

    Jun 07, 2023  

    Casino gaming content and hardware provider Light &...
  • ETGs rapid growth segment in Asia: Interblock Michael Hu
    ETGs rapid growth segment in Asia: Interblock Michael Hu

    Jun 06, 2023  

    Electronic table games (ETGs) supplier Interblock dd is...
  • GLI offering RNG test tools, cybersecurity demand growing
    GLI offering RNG test tools, cybersecurity demand growing

    Jun 05, 2023  

    Random number generator (RNG) testing tools are among the...
  • Alfastreet’s new Verso cabinet heading to Asian markets
    Alfastreet’s new Verso cabinet heading to Asian markets

    Jun 01, 2023  

    Alfastreet, a manufacturer of electronic gaming machines,...
  • Sega Sammy Creation growing land-based, eyes online
    Sega Sammy Creation growing land-based, eyes online

    Jun 01, 2023  

    Casino equipment maker Sega Sammy Creation Inc is tweaking...
  • iGaming growing in Asia, ops tackling challenges: Uplatform
    iGaming growing in Asia, ops tackling challenges: Uplatform

    Jun 01, 2023  

    The iGaming segment in Asia “has grown rapidly” since...
  • ‘See before you play’ slot marketing tool, say tech suppliers
    ‘See before you play’ slot marketing tool, say tech...

    May 31, 2023  

    Showing slot machine players – via animations on the...
  • Macau stocks tied to China outlook: Bloomberg analyst
    Macau stocks tied to China outlook: Bloomberg analyst

    May 31, 2023  

    Macau stocks in likelihood “have been punished too much...
  • Investors still eye possible fresh IR locations in Japan: scholar
    Investors still eye possible fresh IR locations in Japan:...

    May 31, 2023  

    There are foreign companies still interested in investing...
  • Thai casino law possible in 2024, IR in 2030: govt adviser
    Thai casino law possible in 2024, IR in 2030: govt adviser

    May 31, 2023  

    Thailand could pass the necessary enabling legislation for...
  • China still ‘critical’ to Asian markets: G2E Asia panel
    China still ‘critical’ to Asian markets: G2E Asia panel

    May 30, 2023  

    China will remain a key market for Asian gaming...
  • Much interest in state casinos sale, says Pagcor boss Tengco
    Much interest in state casinos sale, says Pagcor boss

    May 30, 2023  

    Alejandro Tengco (pictured in a file photo), chairman and...
  • Gaming industry in for a very exciting period: Bill Miller
    Gaming industry in for a very exciting period: Bill Miller

    May 30, 2023  

    There are “plenty of reasons” for the global gaming...
  • IGT flags route to high-performing games for Asia
    IGT flags route to high-performing games for Asia

    May 30, 2023  

    Gaming equipment provider International Game Technology Plc...
  • G2E Singapore trade show, conference begins today
    G2E Singapore trade show, conference begins today

    May 30, 2023  

    The Global Gaming Expo (G2E) Asia 2023 Special Edition:...
  • Novomatic’s Black Edition II cabinets at G2E in Singapore
    Novomatic’s Black Edition II cabinets at G2E in Singapore

    May 29, 2023  

    Austria-based gaming equipment maker and operator Novomatic...
  • Uplatform to show latest iGaming products at G2E Singapore
    Uplatform to show latest iGaming products at G2E Singapore

    May 25, 2023  

    Sports betting and online casino operating platform...
  • L&W ambition to be No1 in Asia well on its way: SVP gaming
    L&W ambition to be No1 in Asia well on its way: SVP...

    May 24, 2023  

    The business performance in Asia of gaming content and...
  • G2E Singapore expecting 6k visitors, 100+ exhibitors
    G2E Singapore expecting 6k visitors, 100+ exhibitors

    May 18, 2023  

    The organisers of Global Gaming Expo (G2E) Asia 2023...
  • ‘Dragon Unleashed’ slot link by L&W at G2E in Singapore
    ‘Dragon Unleashed’ slot link by L&W at G2E in...

    May 17, 2023  

    Gaming content and equipment supplier Light & Wonder...
  • Sega Sammy Creation new multi-ETG at G2E in Singapore
    Sega Sammy Creation new multi-ETG at G2E in Singapore

    May 16, 2023  

    Casino equipment maker Sega Sammy Creation Inc is to...
  • Aristocrat at G2E Asia in Singapore previews Year of Dragon
    Aristocrat at G2E Asia in Singapore previews Year of Dragon

    May 09, 2023  

    Casino slot machine and digital gaming content provider...
  • IGT ‘Prosperity’ link in Asia show debut G2E in Singapore
    IGT ‘Prosperity’ link in Asia show debut G2E in...

    May 05, 2023  

    The Global Gaming Expo (G2E) Asia event in Singapore is the...
  • Thai parliament adviser on casinos attending G2E Singapore
    Thai parliament adviser on casinos attending G2E Singapore

    May 04, 2023  

    An adviser to a Thailand parliamentary committee mulling...

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”We believe the intrinsic value of IGT’s market-leading businesses and diversified cash flow profile is not currently reflected in our stock price and the timing is right to assess opportunities that may enhance value for IGT’s shareholders”

Marco Sala

Executive chair of casino equipment supplier IGT



Most Popular

  • China Politburo meeting key for any policy shift: UBSChina Politburo meeting key for any policy shift: UBS June 7, 2023
  • Gaming-linked crime in Macau up 24pct y-o-y in 1Q: govtGaming-linked crime in Macau up 24pct y-o-y in 1Q: govt June 8, 2023
  • Suntrust to get up to US$446mln loan from local bankSuntrust to get up to US$446mln loan from local bank June 9, 2023

Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us