• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 31 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Melco seeking 1,000 new staff ahead of “staged opening” of Studio City Phase 2

Ben Blaschke by Ben Blaschke
Thu 2 Mar 2023 at 03:52
Melco unveils Studio City Phase 2 concept as new towers topped off

Studio City Phase 2.

172
SHARES
4.3k
VIEWS
Print Friendly, PDF & Email

The Chairman and CEO of Melco Resorts & Entertainment, Lawrence Ho, said Wednesday that the company’s Studio City Phase 2 development would open in stages, with the first stage to include a single hotel tower and indoor water park sometime during the June 2023 quarter.

This will be followed by the launch of remaining facilities in 3Q23, according to details contained within Melco’s 4Q22 results announcement. It was also revealed that the company is looking to employ around 1,000 new staff across its Studio City Phase 2 development – primarily to work at the indoor water park and both hotel towers, to be known as the Epic Tower and W Tower.

However, Melco was quick to tout a greater focus on cost controls since the COVID-19 pandemic, with Chief Operating Officer, Macau Resorts, David Sisk, noting it will have 100% less FTEs (full-time equivalent worker hours) at the end of 2023 when compared to the same period in 2019.

“We’ve really done a good job of rethinking how we operate our business,” Sisk said. “We’re much more efficient with what the things that we’re doing now. We’re really happy with the leverage that we’re going to get out of that and the flow through that will get to the bottom line.”

In an analyst call following Melco’s 4Q22 results release, Ho also provided some color around the government-mandated allocation of 750 gaming tables and 2,100 electronic gaming machines under the company’s new concession contract.

This represents 196 fewer tables, a 21% reduction, on the total Melco held under its previous agreement, but Ho explained this was “exactly the number of tables we requested according to our investment proposal.”

“So in our minds, we didn’t lose tables,” Ho said. “Before the new concession, we had 900 tables but 300 to 400 of those tables were given to junkets. And given that the junket market is no longer there, we didn’t feel it necessary to have all those tables. Between City of Dreams, Studio City and Altira, it would be really hard to jam-pack 900 mass tables onto the floor.

“I think we have a good model right now and with Studio City Phase 2 opening, if anything it’s going to completely relaunch that property. If anything, we’ve always felt that Studio City was underappreciated. So now with the new positioning, with the new indoor water park and over the last few years, even during COVID, we redid a lot of the retail to reposition the property to be even more mass-focused, so we feel very good about the number of tables we have there and the number of rooms we have there.”

Melco also revealed a slight delay to the opening date of its Cyprus integrated resort, City of Dreams Mediterranean, with the company granted an extension from its previous May launch until 30 June 2023.

“We continue to work with our contractors with a target to open within that timeframe,” Ho said.

RelatedPosts

Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

Fri 30 May 2025 at 06:42
Macau’s hotel occupancy rate reaches 89% in July

Macau’s hotel occupancy rate climbed to 87.8% in April

Thu 29 May 2025 at 17:27
On the brink

On the brink

Thu 29 May 2025 at 13:27
Macau GGR rises 43.7% year-on-year to MOP$86.86 billion in 2021

Moody’s maintains investment-grade rating for Macau as fiscal reserves climb to US$77 billion

Thu 29 May 2025 at 05:23
Load More
Tags: David SiskLawrence HoMacauMelco Resorts and EntertainmentPhase 2Studio City
Share69Share12
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

10 Years Ago – Reimagining Sri Lanka

Sri Lanka gazettes draft bill to establish Gambling Regulatory Authority

by Newsdesk
Sat 31 May 2025 at 06:03

A draft bill that would establish an official regulator for the Sri Lankan gaming industry, to be known as the Gambling Regulatory Authority, has taken another step forward after being gazetted. According to the Sri Lanka Mirror, the official announcement...

RGB International signs agreement to distribute KL Saberi and Atlas gaming machines

After record-breaking sales in 2024, Malaysia’s RGB sees 1Q25 profit fall to

by Newsdesk
Sat 31 May 2025 at 05:53

Malaysian gaming product distributor RGB International Bhd has reported group-wide revenue of MYR73.6 million (US$17.3 million) for the three months to 31 March 2025, down 65% year-on-year due to a lower number of products sold. The figure was also 79%...

Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

by Ben Blaschke
Fri 30 May 2025 at 06:42

Las Vegas Sands (LVS) Chairman and CEO Robert Goldstein has bemoaned the lingering impact of the US-China trade war, as well as increased domestic and regional competition and the rise of online gambling across Asia for sustained flatness in the...

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

by Ben Blaschke
Fri 30 May 2025 at 05:38

Industry figures taking part in the Thai Entertainment Complex Roundtable (TECR) next Thursday 5 June hope to find common ground with those who oppose Thailand’s Entertainment Complex Bill, citing the opportunity to use an evidence-based approach to achieve outcomes that...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English