Studio City granted land development extension

Studio City, operated by Melco Resorts & Entertainment, today announced that it has been granted an extension of the development period under the Studio City land concession contract.

Pursuant to such extension, the development period for the land of Studio City has been extended to July 24, 2021.

Last week, Melco Resorts chairman and CEO Lawrence Ho said his company will “continue to explore the phase 2 expansion of Studio City,” which would augment their the existing room inventory and entertainment offerings in Cotai. It is expected that the additional development will include a hotel and related amenities.

Construction of the additional development at Studio City however remains subject to, among other things, Macau government approvals and licenses, said the company.