Good Morning. Melco continues to aim for luxury, with the opening of its latest non-gaming offering, W Hotel at Studio City, aiming to further the group’s focus on higher-end clientele. The group’s CEO expressed confidence that its buildout will allow the company to absorb a potential 20 percent increase in its investment pledge, mandated if GGR levels pass $22.45 billion. Meanwhile, analysts at Deutsche Bank say Macau is seeing healthy market trends, despite lower player spend compared to 2019.
What you need to know
- Melco able to absorb 20 percent investment increase as GGR levels rise, operators working with gov’t on diversification plans: CEO.
- Deutsche Bank says that the Macau gaming industry maintains healthy market trends with lower player spend still well off 2019 levels.
- W Hotel, latest Macau opening, aimed at ‘discerning travelers’ aiming for ‘immersive luxury’: Studio City SVP.
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AGB Intelligence
MACAU
Melco able to handle potential 20 percent investment increase: CEO
The Chairman and CEO of Macau gaming operator Melco says that the group is well-positioned to handle the possible 20 percent investment pledge increase if Macau’s GGR levels top $22.45 billion. Speaking at the opening of the W Hotel, the latest non-gaming offering at Studio City, Lawrence Ho noted that operators are working hand-in-hand with government on their investment plans, despite delays caused due to mandated changes in the specifics of each operator’s pledges.
Corporate Spotlight
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