Lawrence Ho revealed more details about his company’s latest acquisition as the transaction was confirmed. Melco Crown now owns a 60% stake in the Macau Studio City project on the enclave’s lucrative Cotai strip. After it was confirmed, the co-chairman and CEO of Melco Crown, commented, “Our plans include a variety of interactive, production studio derived attractions designed to captivate our target market and significantly expand Macau’s appeal as a multifaceted tourism destination.”
As reported previously, 2008’s revised land grant for the site doesn’t include gaming facilities and it may mean the company is forced to diversify sooner than anticipated. The fact that the government revealed this to be the point could also allude to the fact that eventually they may see the enclave focusing more on non-gaming leisure and entertainment facilities.
Ho later added, “We look forward to working closely with the Macau government to bring this project to completion.”
Melco Crown recently completed an extensive refinancing deal and is the main contributor to the growth of James Packer’s Crown companies.
More casino news from Macau, and another of the enclave’s jewels, Sands China, has announced the launch of a the news “Imperial Stadium.” Dubbed as “the biggest stadium-style electronic games in town,” it will feature new games of baccarat as well as existing electronic games of roulette and sic bo that allow players to bet on multiple tables at the same time. The new stadium will be launched at the Venetian Macau and Sands Macau both of which has played host to previous versions of the “Imperial Stadium” earlier on this year.