Melco Resorts to invest US$100 million in Macau IR upgrades

15 May 2018

Melco Resorts & Entertainment CEO Lawrence Ho has announced that the company will spend another US$100 million on upgrades to the gaming areas and non-gaming attractions at City of Dreams and Studio City over the next 12 months following the impending launch of luxury hotel Morpheus.

“We have identified over US$100 million of targeted enhancement CapEx in the next 12 months to upgrade the gaming areas and the non-gaming attractions at both CoD and Studio City, which is aimed at maintaining the longer-term competitiveness of these two resorts,” Ho revealed.

“We have done a lot of work to improve the overall City of Dreams experience but at the same time we have also continued to identify areas to improve and optimize underutilized areas at Studio City.”

The US$100 million is separate to the planned Phase II expansion of Studio City, with Melco having been granted in February an extension by the Macau government of the development period for expansion to 24 July 2021.