Melco Resorts and Entertainment

Grant Johnson has been promoted to the role of senior vice president and property general manager of Melco Resorts and Entertainment’s City of Dreams Mediterranean and Cyprus Casinos. 

Boasting “extensive experience in the gaming and entertainment industry,” Johnson takes over from Craig Ballantyne, previously property president of City of Dreams Mediterranean and Cyprus Casinos, who retired on April 1.

Johnson gains responsibility for the continued development of the upcoming City of Dreams Mediterranean, which it is expected to become “the largest and premier integrated destination resort in Europe,” as well as the management and operations of Cyprus Casinos. 

Earlier this year the operator opened Cyprus Casinos Paphos, which become the fourth and final C2 satellite operation in the region following the debut of the temporary casino in Limassol and fellow satellite entities in Nicosia, Larnaca and Ayia Napa.

Lawrence Ho, chairman and chief executive officer of Melco, commented: “Congratulations to Grant Johnson on his new appointment. With his proven track record of delivering growth for the company I am confident that we can continue pushing boundaries as a global leader in innovative luxury entertainment offerings. 

“This promotion represents Melco’s commitment to internal career opportunities. I also wish to thank Craig Ballantyne for his outstanding service to Melco as property president of City of Dreams Mediterranean and Cyprus Casinos and wish him the very best for his retirement.”

Blueprint Gaming

Online casino content developer Blueprint Gaming has appointed Lauren Bradley into the newly created role of head of commercial, bringing “a wealth of experience and industry knowledge”.

The strengthening of its team comes “at a pivotal period for the company,” as Bradley builds n experience gained at a number of suppliers and operators, such as Bede Gaming, iSoftBet and Realistic Games, to aid the long-term development of the business and success of Blueprint.

Matt Cole, managing director of Blueprint Gaming, said: “Lauren is a well-known and highly respected figure in the online casino industry and will prove to be an important addition to our already outstanding team. Her skills and knowledge will be invaluable as we look to further extend Blueprint’s presence across new markets, as well as continuing to engage closely with our existing partners.”

Multi-State Lottery Association

The board of directors of the Multi-State Lottery Association has elected Sarah Monnett Taylor, executive director of the Hoosier Lottery, to serve as board president for fiscal year 2021.

The graduate of Greencastle HS and Indiana University was first appointed as executive director of the Hoosier Lottery by former Governor Mike Pence in 2013, and reappointed by Governor Eric Holcomb in 2016.

She will become the 31st MUSL Board President and the first ever to serve from the Hoosier Lottery.  

Commenting on the appointment, Taylor said: “It’s my honor to help lead the 38 member lotteries with a strategic plan to help each one responsibly maximize profits for all the good causes they support.

“Powerball is the number one product of the Multi-State Lottery Association and has successfully helped generate billions for good causes. Each member lottery offers one or more multi-jurisdictional game, and all profits are retained by the individual lotteries to fund projects or purposes approved by their authorising legislatures. 

“In Indiana alone it helps us contribute to police, firefighter pension funds and teachers’ retirement funds to the tune of $30m each.”  

Gambling Commission

Stephen Cohen has been reappointed by the secretary of State for Digital, Culture, Media and Sport as a commissioner of the Gambling Commission for four years from 12 November 2020 to 11 November 2024.

Cohen has over 40 years’ experience in asset management, in Asia, Europe and the USA, after starting his career with Mercury Asset Management and working both as a portfolio manager and in business development. 

HE is also on the board of the Health & Care Professions Council, a healthcare regulator, and is Chair of Audit for both the JPMorgan Japan Investment Trust plc and the Schroder UK Public Private Trust plc.

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Melco Resorts and Entertainment

Casino gaming and entertainment owner and operator Melco Resorts and Entertainment has promoted Evan Winkler to president of the company, where he will report directly to chairman and CEO Lawrence Ho.

Winkler, a board member of Melco Resorts and president and MD of parent company Melco International Development, is to be responsible for day-to-day operational matters globally, with all operational departments reporting directly to him

Of the new position, Winkler stressed: “I am honoured by the trust placed in me by Melco’s founder, chairman and chief executive officer, Mr Lawrence Ho. I joined Melco International Development Limited three years ago to help support and carry Mr Ho’s vision and am excited to be able to play a broader role within the Melco group.”

Ho added: “The company has seen extraordinary transformations over the last few years, which have been game changing, including expanding globally, opening Morpheus, bringing more beyond-gaming attractions than ever and building up a very strong team. 

“As we continue to move forward, I have the utmost trust in a team that has a proven track record of delivering outstanding growth for the company.”

RISQ

Online gaming insurance platform RISQ has confirmed the appointment of Blerina Essen, the former managing director of mylotto24, as a corporate advisor.

In the position Essen will be working across RISQ divisions helping improve hedging and reinsurance structures of the RISQ Insurance Platform, which enables partners to enhance campaigns or products with jackpot payouts backed by the firm’s insurance provisions

Tom Mitchell, chief commercial officer at RISQ, said: “I am delighted to welcome Blerina to the team and to leverage her unrivalled experience and knowledge to improve our lottery insurance offering. It is important to us that our backend reinsurance structures are as robust as possible and in the event of a large win will payout quickly and smoothly.

“As our business grows and volumes increase, our backend structures become increasingly important. Blerina will be a driving force behind these improvements to make our offering as flexible as possible and grow the use of jackpots in the global gaming industry.”

Barona Resort and Casino

Kevin Ward has been promoted to vice president of slot operations at San Diego’s Barona Resort and Casino, 17 years after first joining the company.

In the new role Ward is to be charged with providing strategic direction and operational guidance to ensure the continued success of the slot operations department.

After first joining Barona’s human resources department in 2002 Ward has held various management positions, including compensation and benefits lead, as well progressing from human resources manager to vice president of the division.

“We are fortunate to have a manager such as Kevin who has the talent and ability to lead by example, empower his staff members, and develop their individual talents,” stated Rick Salinas, general manager of Barona Resort and Casino. 

“Our slot machines have always been our most popular games and we are confident that Kevin will continue to enhance our high-quality gaming experience for all of our players.”

British Columbia Lottery Corporation

Greg Moore has temporarily stepped down as a board director at the British Columbia Lottery Corporation to assume the role of acting president and CEO, with Jim Lightbody on medical leave to undergo cancer treatment and recovery. 

Lightbody is expected to be absent into the early party of next year, with Moore, who has a long career in public service, taking on the position immediately. 

“BCLC is an important economic contributor to the province and its communities,” Moore noted. “I am committed to working collaboratively with BCLC’s executive team, staff and government so that we can continue to execute and deliver on BCLC’s strategy during this time.”

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In addition, the casino and entertainment operator cited a slew of openings in the autonomous region, including an indoor water paper and launch of residency concerts at Studio City, in aiding the group’s charge.

Revenue through the year’s second quarter surged 200 per cent to $947.9m (2022: $296.1m), operating income of $64.3m is contrasted to a loss of $209.2m year-on-year, while adjusted EBITDA swung to $267.3m compared to 2022’s $13.8m loss. Net loss attributable to the group improved to $23.4m (2022: $251.5m).

“We’ve seen mass drop increase month-to-month and turnover in our premium direct VIP segment continued to exceed 2019 during the second quarter,” reflected Lawrence Ho, Melco Chair and Chief Executive Officer.

“Labour supply issues in Macau have been largely resolved. We have been able to provide our customers with Melco’s full suite of services and amenities. We expect to add another 560 hotel rooms to our portfolio with the opening of W Macau at Studio City in September and are well positioned to support the continuing increase of customers in Macau.”

The group’s flagship Macau-based property, City of Dreams, saw revenue increase significantly to reach $506.2m (2022: $97.3m), with AEBITDA following suit to close at $161.2m (2022: $28.5m).

This is aligned to a heightened performance across all gaming segments and non-gaming operations.

Continuing this trend, Studio City saw revenue and AEBITDA close the three month period at $236m (2022: $35.9m) and $41.1m (2022: -$31.1m), which is aligned to a better performance in the mass market table games segment and non-gaming operations.

The Philippines’ City of Dreams Manila witnessed a revenue increase of 4.2 per cent to $116.4m (2022: $111.7m), while AEBITDA dropped 4.25 percent to $47m (2022: $49m).

With the company’s City of Dreams Mediterranean officially opening to the public on July 10, 2023, after a soft opening in June, operations across Cyprus saw revenue reach $30.9m, up 42.39 per cent from the previous year’s $21.7m.

AEBITDA increased 23.21 per cent to $6.9m (2022: $5.6m), which was primarily due to the result of a better performance in the mass market segment.

Regarding these final two jurisdictions, Ho noted: “The mass segment is also leading the recovery in the Philippines, continuing to outperform 2019 in the second quarter of 2023.

“And in Cyprus, we opened City of Dreams Mediterranean to the public in July after a successful soft opening in June, and we’re excited for its prospects as we ramp up our operations.”

For the year-to-date, revenue is up 115.86 per cent to $1.66bn (2022: $771m), operating income reached $64.64m compared to a loss of $345m one year earlier, and net loss dropped to $104.72m (2022: -$434.74m).

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Hailed as “marking the beginning of a new era for tourism” for the island nation, the property, located in Limassol, represents one of Cyprus’ biggest development projects and “the largest of its kind in Europe”, the company said.

In welcoming the long-awaited opening on July 10, Grant Johnson, Property Manager of City of Dreams Mediterranean, confidently predicted that Cyprus “is now ready to compete across Europe and the Middle East in luxury tourism and large-scale conferences”.

“This tremendous achievement is testament to the incredible cooperation and support we have received here in Cyprus,” he said. 

“This resort, the largest of its kind in Europe, is, like everything we do, the product of partnership. 

“The combination of our brand, our expertise in entertainment, the thrill of our gaming, the quality of our guest experience, hand in hand with Cyprus culture and hospitality, is an extremely powerful mix.”

City of Dreams, which represents a total investment in excess of €600m, features a fourteen-storey hotel with 500 guest rooms and suites, over 8,000 square metres of MICE space, outdoor amphitheatre, family adventure park, and variety of dining and retail establishments.

It has previously been suggested that the property’s casino area would be installed with 36 tables and 1,200 gaming machines.

Melco noted that it is aiming to establish City of Dreams as “a regional landmark”, with the resort aiming to contribute to Cyprus’ year-round sustainable growth through the creation of hundreds of jobs, influx of tourism and partnerships with the local community. 

It is also hoped that this grand opening will establish the mediterranean island will become established as a “year-round destination for premium tourism, world-class entertainment, as well as a hub for international business and conference tourism”.

Lawrence Ho, Chair and Chief Executive Officer of Melco, commented: “Today marks the start of the most exciting chapter. City of Dreams Mediterranean gives Cyprus a new story to tell by blending local culture, hospitality and beauty with a new form of entertainment and experience. 

“City of Dreams Mediterranean provides premium luxury, inspired and infused with local flavour. It allows Cyprus to unlock new markets in the region and beyond. Having a resort of this quality, with all its attractions, including the largest expo facilities on the island, opens multiple new possibilities. 

“The resort is a product of incredible hard work by many thousands of individuals through the partnership with the government, the business community, our colleagues and the people of this island.

“I would like to take this opportunity to acknowledge their achievement here in Cyprus. Thank you to all those who have helped turn this dream into a reality.”

During the years of development, Melco debuted four C2 satellite casinos in Limassol, Ayia Napa, Paphos and Nicosia that will each remain open. A temporary venue will be shuttered.

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The company says that C2 is ready to “continue providing guests with an unparalleled entertainment experience,” although strict adherence to all relevant guidelines issued by the minister of health will have to be followed.

To safeguard the wellbeing of all guests and colleagues, C2 says that it has set in place a “rigorous health and hygiene plan” that includes, among others, temperature checks for both guests and colleagues, the use of face masks and sanitisers, as well as social distancing measures for all premises and queuing areas. 

The company will also carry out regular and stringent disinfection and sanitisation procedures on a daily and weekly basis, with local media outlets stating that a 30 per cent capacity limit will be in effect.

Grant Johnson, property general manager of City of Dreams Mediterranean and Cyprus Casinos, stated: “We are delighted to welcome guests back to C2. We are ready and committed to provide them with the highest standards of entertainment offered by C2, in a safe and pleasant environment. 

“The health and safety of our guests and colleagues is our number one priority. We have therefore implemented a comprehensive series of stringent hygiene measures.

“We strongly believe that the reopening of C2 will provide a boost to Cyprus’ road to recovery and contribute significantly towards enhancing the tourism industry, as well as the overall local economy”.

C2 Limassol will be open from 7:00am to 11:30pm, C2 Ayia Napa and C2 Paphos will open from 10:30am to 11:30pm, while C2 Nicosia will open between 3:00pm to 11:30pm on weekdays and 7:00am to 11:30pm on weekends, from today until further notice.

Melco debuted the four satellite casinos, as well as one temporary entity, as part of an exclusive agreement with the country’s government while construction of the €550m City of Dreams Mediterranean complex continues.

Upon the opening of the complex, which is slated to take place this year, the gaming area is said to be installed with 36 tables and 1,200 gaming machines. The company will continue to operate the four satellite casinos, while operation of the temporary property will cease.

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In addition, Lawrence Ho, Chair and CEO, noted that this momentum continued into April and May, with gross gaming revenue during the latter’s Golden Week exceeding the same period from four years ago.

With the Philippines reported as demonstrating “a solid recovery,” Melco also revealed that the group’s City of Dreams Mediterranean is set to be showcased during the coming summer.

These reflections came during Melco’s first quarter financial report, with revenue increasing 51 per cent year-on-year to $716.5m (2022: $474.9m).

This, said the casino and entertainment operator, was primarily due to an improved performance in all gaming segments thanks to a relaxation of COVID-19 related restrictions.

Operating income through the period came in at $400,000 versus a loss of $135.9m one year earlier, with adjusted EBITDA surging to $190.8m (2022: $56m).

The group’s flagship Macau-based property, City of Dreams, saw revenue increase 39.57 per cent to $358.3m (2022: $256.7m), with AEBITDA more than doubling to close at $94.9m (2022: $44.4m).

This is aligned to a better performance in the mass market table games segment and non gaming operations. 

Elsewhere in the region, Studio City saw revenue double to $142.2m (2022: $71.1m), with AEBITDA finishing Q1 at $20.6m versus a loss of $17.3m. The same factors were highlighted by Melco.

City of Dreams Manila cited a heightened performance in all gaming segments and non-gaming operations as revenue and AEBITDA increased 53.39 per cent and 84.54 per cent to $133.3m (2022: $86.9m) and $60.9m (2022: $33m).

Operations across Cyprus, where the group currently boasts a series satellite casinos and temporary casino, the latter of which will close upon completion and opening of City of Dreams Mediterranean, revenue reached $27.8m, up 72.67 per cent from $16.1m.

AEBITDA grew significantly from the $900,000 recorded one year ago to $8.7m during 2023’s Q1, which is put down to a better performance in the mass market segment.

Ho concluded: “We’ve seen strength in the Philippines with a solid recovery underway. Adjusted property EBITDA at City of Dreams Manila for the first quarter of 2023 surpassed that of the first quarter of 2019. Performance in Cyprus has also been strong with both gross gaming revenue and Adjusted Property EBITDA exceeding 2019 levels. 

“With this proven demand, we are excited to open City of Dreams Mediterranean in mid-June and showcase our expertise with the first integrated resort of its kind in the region.

“Environmental sustainability remains a key pillar of our strategy. Our latest 2022 Sustainability Report highlights our achievements to date as we work towards reaching our 2030 goals. 

“We have expanded climate related risk assessment to provide further guidance as we implement our carbon-neutral resort commitments across our properties. 

“We are also continuing our work towards achieving BREEAM certification for Studio City phase two and City of Dreams Mediterranean following construction completion.” 

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Total revenue in the former of those reporting timeframes dropped 30 per cent to $337.1m (2021: $480.6m), with each of the City of Dreams and Altira Macau tracking decreases of 43.13 per cent and 32.33 per cent to $139.2m (2021: $244.8m) and $9m (2021: $13.3m), respectively.

This, the casino operator said, was primarily attributable to the heightened travel restrictions in Macau and mainland China related to COVID-19, which led to softer performance in the rolling chip and mass market table games segments. 

However, recent developments, which sees travellers arriving from Mainland China, Hong Kong and Taiwan no longer required to present negative tests, have been praised. In addition, from February 27, 2023, masks are no longer required in outdoor places.

However, despite a significant uptick in Macau’s gross gaming revenue being tracked from MOP 3.5bn in December 2022 to MOP 11.6bn in January 2023, a warning was issued by the group.

Despite quarantine-free travel within Greater China resuming, the pace of recovery remains uncertain and disruptions caused by the outbreak continue to have a material adverse impact on Melco’s operations, financial position and future prospects into the first quarter of the current year.

“We pledge our full support to the sustainable and diversified development of the tourism and leisure industry in Macau”

Lawrence Ho, Chair and Chief Executive Officer, explained: “Our results for the fourth quarter of 2022 continued to be impacted by the travel restrictions imposed across mainland China and Macau. 

“However, we are encouraged by the increased visitation and volume that we have seen since the travel restrictions between mainland China and Macau were relaxed on January 8, 2023. 

“Our recent performance reinforces our belief in the return of pent-up demand and our view that Macau will continue to develop as a leading international destination for entertainment and leisure. 

“We are honoured to have been awarded a gaming concession to continue to operate in Macau for the next 10 years. We greatly appreciate the consideration given to our proposal and our investment two propositions that we believe will continue to build on our existing strengths in entertainment and non-gaming attractions. 

“We pledge our full support to the sustainable and diversified development of the tourism and leisure industry in Macau, and will continue to work with the Macau government, the community, and stakeholders to contribute to the city’s development as a leading global tourism destination.”

Elsewhere on the revenue front, City of Dreams Manilla saw revenue increase 13.46 per cent to $95.2m (2021: $83.9m), while Cyprus casinos closed at $28.7m, up 28.12 per cent from $22.4m year-on-year.

On a full-year basis, revenue dropped 48.8 per cent to $1.35bn (2021: 2.01bn), driven by the array of aforementioned struggles that were encountered through Q4.

“…we are encouraged by the increased visitation and volume that we have seen since the travel restrictions between mainland China and Macau were relaxed”

“Gaming volumes in the Philippines have reached close to pre-pandemic levels, and volumes in Cyprus have exceeded those we had seen pre-pandemic,” Ho noted.

“We are optimistic about continued growth in the Philippines and Cyprus as international travel normalises.”

Operating loss through Q4 swelled to $199.5m (2021: $104.4m), with this trend following suit on an FY basis after tracking $743.1m (2021: $577.5m). Net loss followed suit after closing at $159.9m (2021: $251.9m) and $930.5m (2021: $811.8m), respectively.

Adjusted EBITDA also recorded significant struggles through each time frame, with Q4 seeing a loss of $6.8m recorded contrasted to $94m YoY, while for 2021 as a whole this came in at $600,000 (2021: $235.1m).

To conclude, Ho offered an update on the group’s current expansion projects: “In respect to our development projects, we expect Studio City phase two to open in the second quarter of 2023. 

“The first stage of opening is expected to include one of our hotel towers and the indoor water park, which is expected to be the largest of its kind in Asia. 

“The second phase of opening is expected to be in the third quarter. In Cyprus, we have been informed that the Council of Ministers has approved an extension of the deadline to open City of Dreams Mediterranean under the terms of our gaming licence to June 30, 2023, and we continue to work with our contractors with a target to open within that time frame.”

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The parent company of casino gaming and entertainment resort developer and owner Melco Resorts and Entertainment has made the comments upon publication of its 2021 year-end performance, with updates also offered on an array of ongoing developments.

For the past year, Melco International reported revenue of HK$15.64m ($1.99bn), which represents an increase of 16.5 per cent year-on-year from HK$13.42m ($1.71bn).

This, says Melco, is primarily due to an improved performance in its casino and hospitality operations as a result of an increase in inbound tourism numbers in Macau.

Loss for the year closed at HK$7.94bn ($1.01bn) through 2021 from HK$12.38bn ($1.58bn) YoY, with adjusted EBITDA closing the year at HK$1.54bn ($196.56m) as opposed to the loss of HK1.2bn ($153.16m) documented one year earlier.

Lawrence Ho, Chair and Chief Executive Officer of Melco International, noted: “As many parts of the world have started to move beyond the pandemic situation and live with the new normal, we witnessed higher EBITDA across each of our geographies in the fourth quarter of 2021. We are confident that our customers will return in numbers once restrictions are eased.”

In what Melco describes as “the world’s most attractive integrated resort market” of Macau, the phase two development of its City of Dreams and the Studio City facilities are set for completion by the close of this year.

This will feature two new hotels, including W Macau – Studio City with a total of 900 rooms; an indoor and outdoor water park; a six-screen Cineplex complete with two regular screens and four VIP suites; and MICE space. 

Furthermore, the coming months will also see the group continuing the strategic repositioning of Altira Macau in a bid to better target the premium mass segment.

In the Greater Bay Area, the majority of Melco’s Zhongshan development project is due to be completed by 2025, with the construction of City of Dreams Mediterranean in Cyprus is said to be progressing, with a launch date expected to fall in the second half of the current year.

“Looking ahead, with our upgraded properties and upcoming new projects, we look forward to bringing new experiences to our guests and further strengthening our pioneering and innovative role in providing premium travel, leisure and entertainment,” Ho added. 

“Once travel restrictions are relaxed both locally and abroad, we will be fully prepared to address the pent-up demand of our many loyal customers.”

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COVID-related travel restrictions continued to impact operating and financial performances through 2021’s Q4, reports Lawrence Ho, Chair and Chief Executive Officer of Melco.

“We have maintained strong cost discipline under these challenging times and are pleased to see improving EBITDA profitability across each of our geographies this quarter,” he commented. 

“We are confident that our customers will return in numbers once restrictions are eased.”

Total operating revenue during the quarter came in at $480.6m, which represents a nine per cent year-on-year drop from $528m, that Melco primarily attributes to a softer performance in the rolling chip segment.

Revenue at the firm’s City of Dreams came in at $244.8m (2020: $321.2m), Altira Macau dropped to $13.3m (2020: 28m), Studio City remained consistent at $88.2m, and City of Dreams Manila increased to close at $83.9m (2020: $63.8m)

Furthermore, for the quarter ending September 30, 2021, total operating revenue at the group’s Cyprus Casinos surged to $22.4m, a 173.1 per cent increase from $8.2m.

Operating loss for the fourth quarter narrowed to $104.4m (2020: $144.8m), with adjusted EBITDA up to $94m (2020: $53.4m), and net loss dropping from $199.7m to $159.9m.

For the full year, revenue secured a 16.1 per cent uptick to $2.01bn from £1.73bn, driven by improved performances in the mass market table games and gaming machine divisions as well as higher non-gaming revenues, which were partially offset by a softer performance in the rolling chip segment.

Operating loss fell to $577.5m (2020: $940.6m), adjusted EBITDA swung to $235.1m from a loss of $104.3m one year earlier, with net loss down to $811.8m (2020: $1.26bn). 

Despite the ongoing struggles, Ho elaborated on the group’s ongoing development efforts: “Our investment commitment remains unwavering. 

“In Macau, Studio City announced fresh rounds of debt and equity financing in February, and we continue our efforts to complete the construction of Studio City phase two by the deadline set in the land concession of December 27, 2022. 

“Furthermore, in December 2021, we announced our partnership with Marriott International to run one of our new hotel towers under the W Hotel brand. 

“W Macau – Studio City will have 557 keys, 1,110 square meters of MICE space, renowned lobby lounges, a spa, a fitness center and an indoor swimming pool. 

“In Europe, the City of Dreams Mediterranean integrated resort project is on track for completion in the second half of 2022.”

Furthermore, an outlook for the current year sees Melco report that COVID-19 outbreaks continued to have a material effect on its operations, financial position, and future prospects into the first quarter of 2022.

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Total operating revenue through the year’s third quarter for Melco, which has discontinued its pursuit of an integrated resort development in Japan and will close offices in the country during the coming months, increased 110 per cent year-on-year to $446.4m (2020: $212.9m).

This increase, the company says, was primarily attributable to improved performance in all gaming segments and non-gaming operations as a result of a year-over-year increase in inbound tourism in Macau.

Revenue at the firm’s City of Dreams came in at $252m (2020: 91.4m), Altira Macau dropped to $10.2m (2020: $11m), Studio City surged to $81.8m (2020: 30.8m), and City of Dreams Manila reached $52.5m (2020: $43.4m).

Furthermore, for the quarter ending September 30, 2021, total operating revenue at the group’s Cyprus Casinos was $20.2m, reflecting a slight drop compared to $20.5m one year earlier.

Operating loss for the group during the third quarter was $182.2m, representing a drop when compared with the $275m recorded one year earlier, with adjusted EBITDA swinging from a loss of $76.7m during 2020 to close at $31.9m.

Lawrence Ho, chair and CEO, explained: “Macau remains one of the safest regions in the world thanks to the government’s careful handling of the global pandemic, and we applaud the government’s effort to further increase vaccination rates towards the goal of increasing immunity in Macau. 

“At Melco, we continue to encourage vaccination uptake as a key company objective that will help to ensure a safe environment for colleagues, guests, and the community at large. Thanks to strong participation in our “Get the Jab” vaccination incentive campaign, Melco’s vaccination rate in Macau has reached close to 95 per cent. 

“We look forward to further travel integration between mainland China and Macau, once Macau achieves an acceptable vaccination rate, and we remain fully committed to doing our part for the betterment of the community.”

Adding on the group’s ongoing expansion efforts: “Meanwhile, Melco remains steadfast to its investment commitments in Macau, where we are a leader in driving the growth and diversification of the Macau economy. 

“The construction of Studio City phase two is progressing on track for completion before December 27, 2022. This expansion will offer approximately 900 additional luxury hotel rooms and suites, an additional indoor/outdoor water park which is expected to be one of the largest in the world, a Cineplex, multiple fine-dining restaurants, and state-of-the-art MICE space. 

“In Europe, the development of City of Dreams Mediterranean continues and is on track with our target opening date in the second half of 2022. 

“The project represents Europe’s largest integrated resort with approximately 500 luxury hotel rooms, approximately 100,000 square feet of MICE space, an outdoor amphitheater, a family adventure park, a variety of fine-dining outlets, and luxury retail.”

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