Asia round-up: Tourists returning to Macau, $1bn “transformation” for Marina Bay Sands

February 9, 2022 Macau Casino & Hotel Industry Updates

According to the Macau Government Tourism Office, the Chinese New Year brought in 25% more tourists than for the same period during 2021, with hotel occupancy rates at 64%.

At the beginning of the year, the pandemic situation caused the Zhuhai-Macau port to be tightened for a period of time.

However, before the Spring Festival, Covid measures were more relaxed, which drew in almost 114,000 tourists, a 25% increase compared to last year’s Spring Festival.

Studio City International works on $1.3bn Phase 2 project

Studio City International Holdings, the parent company of Melco’s Studio City IR, has announced a combination of senior secured note offerings, as well as private placement offers. Both are planned to be used to partially fund the remaining project for Studio City and for other general corporate plans.

Studio City is now working on a $1.3bn Phase 2 project expected to open by the end of this year.

According to the company, the design for Studio City Phase 2 will feature a ‘modern interpretation of the Art Deco period,’ and it will offer an indoor/outdoor water park, a six-screen Cineplex and a state-of-the-art MICE space.

Regarding the senior notes offering, Studio City suggested the interest rate, along with other terms of the notes, will be established at the time of pricing of the offering.

In a different statement, Melco added that one of its subsidiaries, MCO Cotai Investments, entered into a subscription-based deal with Studio City International Holdings, which aims to acquire around 220 million Class A ordinary shares of SCIHL; for an aggregate purchase price of approximately $165m.