Earlier today, popular casino magnate Lawrence Ho Yau Lung shared with local media that he was still not aware how many gaming tables his integrated resort Studio City will offer to its visitors once it opens doors. Yet, he stated with a degree of certainty that the US$3.2-billion project is to be completed sometime in mid-2015.
Mr. Ho shared that the casino venue was designed to accommodate about 500 gaming tables. And, hopefully, it will feature at least 400 at the early stages of its operations.
The government of Macau has capped the number of live gaming tables that can be offered in the administrative region until 2022.
Yet, as mentioned above, Mr. Ho was still not informed on how many tables they will be allowed to add in Studio City. The venue’s co-owner pointed out that they will be offering a lot of other attractions, apart from the numerous gambling options.
The popular businessman was also asked about the gap between the US$3.2-billion cost of the project that was announced earlier today and the amount of US$2.3 billion that was mentioned by Melco Crown back in June 2014.
He explained that the implementation of the project was estimated at US$3.2 billion and those US$2.3 billion included only design and construction costs.
The executive also stated that their resort will feature a wide range of non-gambling activities such as a special ride called “Batman Dark Flight”, a 130-meter Ferris wheel, a broadcast studio, and a large shopping mall.
It was announced that Studio City will be mainly oriented towards the mass market. This is due to the fact that the venue is located in a near proximity to the Hengqin Island, where a family-based theme park and a wide range of attractions were launched not long ago.
Mr. Ho pointed out that he was particularly pleased that Macau is finally making attempts to become less dependent on revenue from VIP players.
He was also asked to comment on Melco Crown’s recent decision to delist from the Hong Kong Stock Exchange. The Asian magnate said that the company had its administrative reasons to take this step and it was by no means related to the current slump in Macau’s revenue from gambling activities. As he pointed out, Melco’s listing on the NASDAQ Stock Market has always been of top priority for the gaming developer.
When asked whether Macau’s current economic situation might result in Melco Crown laying off employees, Mr. Ho stated that the company is actually planning to hire between 8,000 and 10,000 new workers for its Studio City project.
Melco Crown Entertainment is a product of the collaboration between Australia-based Crown Resorts Ltd., owned by James Packer, and Melco International Development Ltd., which, as already mentioned, is controlled by Mr. Ho.
