Melco Resorts & Entertainment announced today that Studio City Phase 2 will be ready before the end of December 2022 at a cost of US$1.3 billion.
During a ceremony attended by Lawrence Ho, Chairman and CEO of Melco Resorts & Entertainment, it was revealed that the Studio City Phase 2 has been designed by Zaha Hadid Architects. The architecture firm was also responsible for the design of Morpheus hotel.
With a total gross floor area of approximately 250,000 square meters, Studio City Phase 2 comprises two hotel towers with 900 rooms and suites, a retail complex of over 21,000 square meters and a gaming space of over 2,300 square meters. It will also feature Asia’s largest indoor and outdoor water parks, a six-screen Cineplex comprising two regular houses and four VIP suites, as well as MICE space.
Speaking during the ceremony Lawrence Ho said that “Melco has a strong track record of contributing to Macao’s ongoing development as a world center of leisure tourism. Studio City Phase 2 reaffirms our ongoing commitment to the city and contributes to reinforcing Macao’s non-gaming proposition in Asia and internationally”.
Ho also said that Melco Resorts “is grateful for the support of the Central and Macao governments during the project construction.”
Melco Resorts Chief Operating Officer, David Sisk said that the group believes in the long term future of Macao. “We have invested US$1.3 billion in Studio City Phase 2, we’re building more assets by bringing more entertainment venues and more entertainment experiences, which we believe is a big part of the future of Macao, to continue to attract local visitation.”
“We will continue to prepare as best as we can for when the market opens up again,” he concluded.
When asked by reporters about the bidding for Macao’s new gaming concessions, which expire next year, Executive Director Clarence Chung said that he concurs with the government’s proposed amendments to the gaming law, adding that Melco has already passed its views on the matter to the government.
Chung also told reporters that Melco was considering to invest in the Guangdong-Macao In-depth Cooperation Zone in Hengqin. He also said that his company was planning to develop an integrated resort in Zhongshan, which he hoped could help promote Macao in the mainland.