MACAU BUSINESS By Paolo A. Azevedo By Tony Lai
Jeju – the new Singapore
Into the mass S
Studio City Macau hopes the new amenities in its Phase 2 development, due for completion December 2022, will lead to more opportunities in the family and MICE markets for the resort, says Senior Vice President and General Manager Kevin Benning.
M 18 OCTOBER 2017 20 JUNE 2022
natural evolution? Lawrence Teo – Business is the same. But building
a landmark. M. B. – The group [Lotte] has created other landmarks in different types of business. Why would this be different? L. T. – Yes, Lotte Group has already created
downtown Seoul and Lotte Super Tower. We’re trying
urfing, indoor water splash, rock climbing, rope courses… These are only some of the many exciting activities residents and travellers could soon indulge themselves in at Studio City Macau — aside from exquisite dining, bespoke events and
convention experiences, a variety of accommodation options and the signature figure-8 Ferris wheel — upon the completion of Phase 2 of the integrated resort in Cotai. In an interview with Macau Business about the new amenities in Phase 2, Kevin Benning, Senior Vice President and General Manager at Studio City Macau, is confident that this US $1.2-billion (MOP9.6-billion) expansion would help the complex to draw more family and MICE (meetings,
acau Business – From Lotte World, a major recreational complex [with the world’s largest indoor theme park, in Seoul] to an integrated resort with casino in Jeju. A different beast. A
incentives, conferencing, exhibitions) visitors. According to the previous information issued by Melco
Resorts and Entertainment Ltd, the gaming operator and majority owner of Studio City, Phase 2 of the complex, spreading about 250,000 square metres in gross floor area, is slated for completion by December 2022. “We’re very pleased with the progress of the construction,” says Mr Benning. “At this point we’re still on schedule, and we’re still continuing to work with the government on when the right time to open is. We don’t see any concerns [with] getting the project done on time. We’re very excited about it. “There’s been a big change to our direction here with Studio City,” he continued. “Over the last few years,
Jeju will be as big as Singapore in terms of Gross Gaming Revenue, predicts Lawrence Teo. The Chief Operations Officer and Vice President of Dream Tower, the tallest Integrated Resort under construction on the Korean destination island, explains to Macau Business why Lotte Tour decided to enter the casino business and create a landmark. All bets are on making the casino resort the crown of the tourism jewel the company has been dominating for four decades
to do the Dream Tower in Jeju. Lotte here is being just a family company; we’re a different company [Lotte Tour]. It’s not going to be [just] the tallest and the largest building in Jeju, that’s just the hardware. We say that a landmark should be the most visited destination, where tourists will go to eat, shop and maybe [visit] our observation deck. A must-visit point destination. Because of the hardware, and also the software.
M. B. – What are the main goals that you definitely
want to achieve with this Integrated Resort (IR)? L. T. – Number one EBIDTA on IR in Korea. There’s
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