Melco Resorts and Entertainment’s Studio City Phase 2 schedules its opening of an new indoor water park and Epic Tower, a new hotel tower this Thursday, April 6.

Melco Resorts' Studio City Phase 2 casino is expected to begin operations in the second quarter of 2023 and the operations of the casino will be in phases, Chairman and CEO Lawrence Ho told investors.

Studio City Holdings said the Macau government has granted it a six-month extension to the deadline to complete the Phase 2 expansion of its cinema-themed resort.

Studio City International Holdings is raising funds to fund the remaining project for Studio City and for general corporate purposes.

Melco Resorts & Entertainment held a topping out ceremony for its $1.3 billion Studio City Phase 2 project, which it says is on track to open by the end of next year.

Melco Resorts has been given an extension on its deadline to complete its phase 2 expansion of Studio City in Macau. The latest extension takes the deadline to December 27, 2022, around 7 months of extra time.

Melco Resorts & Entertainment's Studio City Phase 2 has been shortlisted for a BREEAM award, an international prize recognizing excellence in sustainable building design. The resort is in the category Regional Award Asia.

Melco’s EBITDA expected to surpass pre-COVID levels in 2025: S&P S&P Global Ratings states that Macau gaming operator Melco Resorts & Entertainment Ltd. is on track for an accelerating recovery path, with its property EBITDA expected to return to 2019 levels by 2025. In a non-ratings commentary, S&P assumes the company's EBITDA will recover to 94 percent of 2019 levels in 2024 and 7 percent higher than 2019 levels in 2025. This compares with about a 75 percent level in the fourth quarter of 2023. "Melco's EBITDA recovery will likely support its deleveraging to close to pre-pandemic levels over the next 12-24 months. Strong trends in Macau's mass gaming market are fueling this recovery," the research team indicates. The ratings agency also points out that higher visitor arrivals and hotel expansion will power mass-market growth in Macau. ‘China’s inclusion of Xi’an and Qingdao in the individual visit scheme from March 6 will likely further boost visitors to Macau.’ S&P Global estimates that Macau's mass gross gaming revenue (GGR) was up 12-13 percent from 2019 levels in the first two months of 2024. This trend is at the higher end of our 5-15 percent growth forecast for 2024, compared with 2019 levels. The company's EBITDA recovery could accelerate in the coming quarters. Solid mass gaming trends and incremental contributions from Studio City Phase 2 will likely support this. During the recent Chinese New Year holiday, the company's mass GGR was up 22 percent from 2019 levels, as the company benefited from Chinese arrivals.

Melco Resorts & Entertainment witnessed a considerable increase in total operating revenues during the fourth quarter of 2023, reaching $1.09 billion. This bump was attributed to the improved performance across all gaming segments and non-gaming operations.

Gaming operator Melco Resorts & Entertainment witnessed a substantial increase in total operating revenues during the fourth quarter of 2023, reaching $1.09 billion.