iconic figure eight Ferris wheel ride which straddles the two towers. Tere is also a water park, entertainment and shopping. Te casino has 246 tables and 670 slots. Revenues in 2022 were US$176m. Phase 2 of Studio City was completed this year which consists of two hotel rowers with 895 rooms plus a waterpark.
Casino Altira is a luxury resort in Taipa with a 38-storey hotel tower with 220 rooms. Te casino has 45 tables and 153 slots operating under the brand Mocha Club at Altira Macau. At the end of 2021 Altira was repositioned to cater to the premium mass market segment and shut down its VIP rolling chip operations. Revenues amounted to US$32.6m in 2022.
Te Grand Dragon Casino focuses on mass market table games and is located on the ground floor and level one of the Grand Dragon Hotel. Tis comes under the Mocha Clubs section which began operating in 2002. At the end of 2022 there were six clubs open with a total of 875 slots and these were mostly located in four and five-star hotels offering electronic tables and slots. Two Mocha Clubs closed last year. Tey pull in day-trip customers and generally focus on mass market gaming. Revenues in 2022 amounted to US$76.4m.
Total operating revenues for first half of 2023 for Melco (including City of Dreams Manila and Mediterranean) were US$947.9m – an increase of 220 per cent from the same period in 2022 of US$296.1m.
MGM GRAND PARADISE
MGM Grand via MGM China Holdings operates two casinos in Macau.
Te MGM Macau opened in 2007 and is a Forbes Five Star luxury integrated resort. Te hotel comprises of a 35-storey tower with 585 rooms plus eight restaurants, spa and convention space. Te casino floor covers 23,283sq.m and has 354 tables and 892 slots. Te resort’s focal point is the signature Grande Praça.
Te MGM Cotai opened in February 2018 and the hotel with two towers – M Tower and Emerald Tower –and has 1,400 rooms in total plus there are 12 restaurants, retail outlets and meeting space. Te MGM Cotai also features Te Mansion, an ultra-exclusive resort within a resort available to selective guests plus the Emerald Villas, 28 luxurious villas which was developed recently. Te casino floor covers 24,549sq.m and has 1,028 slots and 396 gaming tables.
Te two casinos’ mass market operations accounted for 84 per cent of the company’s GGR for the first half of this year.
Casino revenues for the first half of 2023 amounted to HK$9.6bn (MGM Macau with HK$4.5bn and MGM Cotai with HK$5.1bn) compared to HK$2.7bn for the same period in 2022.
Operating revenues amounted to HK$10.6bn for H1 2023 which was 231 per cent higher than the same period in 2022 and 5.7 per cent lower than the same period in 2019.
WIRE / PULSE / INSIGHT / REPORTS P63
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