US$1.35 billion to US$1.4 billion earmarked for the extension of the Studio City property
Casino developer and operator Melco Resorts & Entertainment – who runs the gaming operations at the Studio City property – has confirmed the launch of their new family-entertainment focused water park at Studio City on “May 22”.
According to Melco Resorts, all the attractions at “Studio City Water Park”, are to be launched on that day, including a five-slide tower called “The Highpoint Twister”, and Golden Bucket.
The company added, “a promotional package inclusive of limitless entries” for certain defined days between the launch and October (typically the end of pool season in Macau) is already available for purchase on the property’s official website.”
According to the 2020 annual results filed on Wednesday by Hong Kong-listed Melco International Development Ltd, the new water park is part of the second phase development of Studio City. Other parts of that phase are now under construction,
The Melco International filing cited chairman and Chief Executive, Lawrence Ho Yau Lung, stated that phase two would have “approximately 900 luxury rooms and suites, thus augmenting Studio City’s hotel room inventory by approximately 60 percent”.
According to the 2019 annual report of Melco Resorts, filed in late March, the group has earmarked “US$1.35 billion to US$1.4 billion” for the extension of the Studio City property, exclusive of any pre-opening costs and financing costs.
The cinematically-themed Studio City is situated in the heart of Cotai, Macau, opened near the Lotus Bridge Immigration Point and directly connected to the future Light Rail System on October 27th, 2015.
It is Asia's first leisure resort to integrate television and film production facilities, including a multi-screen cinema, retail, gaming and non-gaming attractions, “fine-dining restaurants”, hotels, and space for meetings, incentives, conferences and exhibitions (MICE).
Cotai is home to Melco’s City of Dreams and Studio City properties, as well as Galaxy Macau, Wynn Palace and Sands China’s quartet of the Venetian, Sands Cotai Central, Parisian Macao and The Plaza.
In December 2020, Melco Resorts recorded the highest share of gaming revenue as it generated MOP6.4 billion with Sands China, Galaxy Entertainment Group, SJM holdings, Wynn Macau, and MGM following suit.
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