• 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

Tables issue sparks contingency plan for Studio City

Aug 12, 2015 Newsdesk Latest News, Macau, Top of the deck  


Tables issue sparks contingency plan for Studio City

Studio City International Holdings Ltd, a joint venture in which Melco Crown Entertainment Ltd owns a 60 percent interest, said on Tuesday it is preparing  a “contingency plan” ahead of any gaming table allocation decision by the Macau government for its Studio City casino resort (pictured).

The US$3.2-billion Studio City on Cotai is on track to open on October 27, Melco Crown announced on August 5. That date was reaffirmed in Tuesday’s statement by Studio City International Holdings.

“Because of the possibility that the table allocation for Studio City’s gaming area may be lower than anticipated, Studio City International Holdings Ltd has engaged Kirkland and Ellis LLP as its counsel and Moelis and Co LLC as its investment banker to assist it with contingency planning ahead of any table allocation decision for Studio City,” the Melco Crown majority-owned unit said in its Tuesday press release.

Lawrence Ho Yau Lung, co-chairman and chief executive of Melco Crown, said at a press conference on August 5 that he hoped Studio City could open with 400 gaming tables. Melco Crown has the option of shifting tables from its other Macau properties to make up the numbers for Studio City’s launch, but the Macau government operates a cap on the number of new-to-market tables it is prepared to authorise for each new project.

“We would hope to get 400. We think 400 is a realistic figure, but ultimately it’s not our call,” said Mr Ho, referring to his desired number of tables for Studio City’s launch. “We hope that the Macau government will reward us for the hard work we have put in over the years … the amazing elements we have introduced to Studio City.”

Deutsche Bank Securities Inc had mentioned in a note on July 31 the likelihood of Studio City being allocated 150 new-to-market tables by the Macau government.

In May, casino market rival Galaxy Entertainment Group Ltd was granted 150 new-to-market tables for its Galaxy Macau Phase 2. Speaking to reporters last week, Mr Ho admitted being “extremely concerned” about the table allocation that Galaxy Entertainment got.

Melco Crown said in its 2014 annual report filed with Nasdaq in April that it might technically fall into default on an approximately HKD10.86-billion (US$1.4-billion) Studio City project loan if it is unable to open the casino resort by October 2016 “with a minimum 400 gaming tables available for operation”.

“In the event that we are unable to meet these conditions, it may constitute an event of default under the Studio City Project Facility,” stated the firm.

On August 7, Melco Crown reported an 83-percent decline in net profit for the second quarter of 2015, to US$24.3 million.


  • tweet
Related articles
  • Melco to launch family attraction at Studio City in June
    Melco to launch family attraction at...

    May 19, 2022  

  • CoD Mediterranean construction facing delays: Lawrence Ho
    CoD Mediterranean construction facing...

    May 06, 2022  

More news
  • Singapore visitor tally in year to April beats full-2021
    Singapore visitor tally in year to...

    May 25, 2022  

  • Leisure and Resorts 1Q loss widens as costs rise
    Leisure and Resorts 1Q loss widens as...

    May 25, 2022  


Latest News

Singapore visitor tally in year to April beats full-2021

Singapore visitor tally in year to April beats full-2021

May 25, 2022  

Visitor volume to Singapore grew by 472.2 percent year-on-year in the first four months of 2022, to 540,430, according to data issued by the city-state’s tourism board. The four-month figure is...
Read More
Leisure and Resorts 1Q loss widens as costs rise

Leisure and Resorts 1Q loss widens as costs rise

May 25, 2022  

Macau unemployment an instability factor to security: govt

Macau unemployment an instability factor to security: govt

May 24, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”If China’s travel easing gets delayed to the second half of 2023 [Macau operator’s aggregate net debt] could rise another US$2 billion, to US$27 billion by end-2023"

Praveen Choudhary, Gareth Leung and Thomas Allen

Analysts at Morgan Stanley banking group



Most Popular

  • Wynn Macau Ltd asks managers to take 10pct wage in stockWynn Macau Ltd asks managers to take 10pct wage in stock May 24, 2022
  • Macau GGR tax cut idea tied to China outlook: brokerageMacau GGR tax cut idea tied to China outlook: brokerage May 23, 2022
  • Macau op debt to hit US$25bln unless travel eased 2H: MSMacau op debt to hit US$25bln unless travel eased 2H: MS May 24, 2022
  • Review saw no irregularity in Levo Chan link: Macau LegendReview saw no irregularity in Levo Chan link: Macau Legend May 23, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us