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Studio City gets 6-month extension for Phase 2 expansion

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.

The deadline has been pushed back from Dec. 27, 2022 to June 30, 2023, the company said in a filing with the U.S. Securities and Exchange Commission. 

The New York-listed company, which is a unit of Melco Resorts & Entertainment, gave no further details. 

Studio City opened in October 2015, in its annual report for 2021, the company said it had spent about $721.5 million to develop the project as of the end of December. It expects the total project budget to be about $1.2 billion.

The design concept for Studio City Phase 2 features a modern interpretation of the Art Deco period, the company said. It will offer one of Asia’s largest indoor/outdoor water parks, a six-screen Cineplex as well as state-of-the-art MICE space.

The company said in February this year that it had put funding in place to continue with the project. 

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The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.

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