In the former Portuguese enclave, one of the most prominent casino operators not only in the area but globally, the Melco International Development Limited firm has announced that it has just started working on the second construction phase of its Studio City Macau facility. According to one report released by GGRAsia, this Hong Kong-listed casino operator used one of its official filings released on Monday to share more details about the second construction phase on its Studio City Macau.
As detailed, Melco International Development Limited plans to invest between $1.3 billion and $1.4 billion to expand the iconic property which now features one thousand and six hundred rooms. This Cotai Strip-located venue’s expansion project should be completed within twenty-four months from now according to the company’s officials.
Details About Studio City Macau
Formerly known as The Macao Electric Lightning Company Limited, Melco International Development Limited was founded in 1910 which means it has been around for over one hundred and ten years. It is one of the oldest companies in Hong Kong which today engages in property, technology, entertainment, gambling, and leisure businesses. Back in 2004, the company entered a joint business venture with Crown Limited to form Melco Crown Entertainment Limited. Then in 2011, the newly established business ventured acquired a majority stake in Studio City Macau.
The Studio City Macau facility opened its doors on the 27th of October in 2015. This hotel and casino resort is located in Macau, China and it was one of the very first leisure resorts in Asia to integrate film and television production facilities alongside spacious gaming spaces and hotels. Studio City Macau was jointly developed by eSun Holdings Ltd, Oaktree Capital Management LLC, and Silver Point Capital LP. The entire project was worth over US$2 billion.
The facility features an interesting Art Deco style and it was designed by the Goddard Group company which is an entertainment design firm located in Los Angeles. The resort features two hotel towers connected by the Golden Reel. Among many different attractions, Studio City Macau features a flying theater named Barman Dark Flight, an amusement park, a food court Cosmos Food Station as well as a massive 40,000 square feet children’s playground named the Warner Brothers Fun Zone.
Expansion and New Accommodations
As previously mentioned, Melco International Development Limited opened the Studio City Macau venue in 2015 following the first construction phase being completed. Today, the company manages the venue via its subsidiary firms. When it comes to the second construction phase of Studio City Macau which has started several days ago, the iconic venue will be enriched with a pair of new hotel towers that will be packed with nine hundred additional rooms.
Moreover, the property will also include a cinema, as well as meeting and exhibition facilities alongside one of the biggest indoor water parks in the world. According to one report by GGRAsia, the company in charge has already invested around $80 million of its planned budget on designing the second construction phase of Studio City Macau which is managed by China State Construction International Holdings Limited firm. The deadline for the project is set for the 31stof May, 2022 but the company may ask for an extension due to the ongoing coronavirus crisis and possibly not being able to finish all the required work on time.