Address: Estrada do Istmo, Cotai, Macau
City of Dreams is an integrated entertainment resort that has established itself as a premier leisure and entertainment destination in Macau.Located in the heart of Cotai in Macau, it combines electrifying entertainment, a diverse array of accommodation, regional and international dining, designer brand shopping and a spacious and contemporary casino.The resort brings together a collection of world-renowned brands including Crown, Grand Hyatt and Dragone to create an exceptional entertainment experience that aims to appeal to a broad spectrum of visitors from around Asia and the world.City of Dreams features a 420,000-square-foot casino with approximately 500 gaming tables and approximately 1,250 gaming machines; over 20 restaurants and bars; an impressive array of some of the world’s most sought-after retail brands; “The House of Dancing Water”, the world’s largest water-based extravaganza showcased in the purpose-built Dancing Water Theater, represents the live entertainment centerpiece of City of Dreams’ overall leisure and entertainment offering.A comprehensive range of accommodation options at City of Dreams include Crown Towers offering approximately 300 guest rooms, The Countdown offering approximately 300 guest rooms and Grand Hyatt Macau offering approximately 800 guest rooms.In addition, Morpheus, the new hotel at City of Dreams designed by the late legendary architect Dame Zaha Hadid, is expected to commence operation in 2018, offering approximately 780 guestrooms, suites and villas.
Melco Resorts & Entertainment reported an 8 percent gain in adjusted property EBITDA driven by its City of Dreams Manila and Altira properties, though overall revenue fell after a change in accounting practices.
Marina Bay Sands is bringing one of the world’s top nightclub brands to Singapore next year, becoming the latest of the region’s major IRs to add clubbing to the entertainment mix in the hope of duplicating the success of Las Vegas’ vibrant night scene. The property, which is owned by Las Vegas Sands, is teaming […]
Melco’s new 772-room hotel tower Morpheus will double the number of rooms available for premium mass customers, while increasing room capacity at City of Dreams by 50 percent, said Bernstein in a note on Tuesday. At the moment, premium mass rooms have largely concentrated at the Grand Hyatt, with NuWa largely catering to VIP customers […]
Melco’s newest development, Morpheus, is set to open on June 15, 2018, according to an announcement from Lawrence Ho, chairman and CEO of Melco. Mr. Ho was speaking at a sneak-peak media press briefing at the Grand Hyatt in Macau on Tuesday, followed by a media tour. The $1.1 billion hotel tower is best known […]
Melco’s new $1.1 billion hotel tower will not be using junkets to lure in Asian high rollers to its casino, chairman and CEO Lawrence Ho told Reuters. “Eventually it’s much better to develop your own database than rely on junkets,” said Ho on Friday. The new 160-meter tall hotel tower, Morpheus, will be located at […]
Melco International Development said its EBITDA for 2017 soared 80 percent after benefiting from full control of its Melco Resorts & Entertainment unit. Adjusted EBITDA came in at HK$9.8 billion ($1.24 billion), while revenue jumped 70 percent to HK$41.2 billion. The results included a full year of consolidated results from Melco Resorts, compared with eight […]
Melco Resorts & Entertainment has announced a major management reshuffle, with David Sisk named as property president for City of Dreams Macau, replacing Gabe Hunterton, who will leave the company. Geoff Andres, who is currently president of of City of Dreams Manila, will replace Sisk as property president at Studio City in Macau. Kevin Benning, who […]
Melco Resorts & Entertainment Ltd reported higher group-wide rolling chip revenues in the third quarter of 2017, boosting adjusted property EBITDA to record highs. Net revenue for the third quarter of 2017 was US$1.4 billion, an increase of 19 percent year-on-year. Melco said the increase in revenues was attributable to higher rolling chip revenues at […]
The opening of the 780-room Morpheus, continued ramp up of Studio City, and forecasted GGR growth at City of Dreams Manila is set to drive growth for Melco Resorts and Entertainment, according to Bernstein analysts. In a Monday note, the brokerage said it tips the company to outperform, pointing out that City of Dreams Macau […]
Casino operator Melco Resorts & Entertainment Ltd. reported better-than-expected adjusted EBITDA and net revenue in the first quarter of 2017, attributed to strong performance in rolling chip and mass market table games segments. Group wide adjusted property EBITDA was US$353.3 million, representing an increase of 42 percent year-on-year from US$248.8 million in 16Q1. Total net […]
Melco Resorts & Entertainment, formerly known as Melco Crown Entertainment announced today that its flagship resort, City of Dreams, will rebrand the existing Hard Rock Hotel to “The CountDown”. The name change is expected to take effect from July 2017 until March 31, 2018 with a countdown clock timed to the unveiling of a new […]
Melco Crown Entertainment posted a 13 percent gain in Q4 revenue as an improved performance at Studio City and City of Dreams Manila offset declines at its older properties. Revenue came in at $1.19 billion, up from $1.05 billion a year earlier, in line with consensus estimates. Adjusted property EBITDA was $304.3 million as compared […]
Melco Crown’s latest leadership appointments represent a “significant change” in its operational organizational structure, said Bernstein in a note on Monday. Last week, Melco Crown Entertainment announced a number of new appointments to its leadership team, including chief marketing and brand officer Mr Frederic Winckler; new property president of City of Dreams, Macau, Gabriel Hunterton; […]
Melco Crown Entertainment Ltd. on Tuesday unveiled the new hotel brand created for the new fifth hotel tower at City of Dreams – Morpheus, named after the God of Dreams. The new luxury hotel is situated within the City of Dreams, in Cotai, Macau and is expected to commence operation in 2018. Lawrence Ho, chairman […]
Melco Crown Entertainment Q3 results beat analysts’ expectations, helped by an improved performance from its Hollywood-themed Studio City resort. Adjusted EPS was $0.13 per ADS, up from $0.11 per ADS a year earlier and above the $0.07 per ADS consensus. Revenue for Q3 rose 22 percent to $1.15 billion and beat estimates for $1.1 billion. […]
Iao Kun Group Holding said it has closed its VIP gaming room at Le Royal Arc Casino as part of a strategic review of its activities in Macau. The company also said that an accord to buy the Jeju Sun Hotel & Casino in South Korea from Bloomberry Resorts has expired. Iao Kun said the […]
City of Dreams Macau has expanded its retail offerings with new facilities and stores, according to a social media post from the company last Friday. Included in the new section is the “T Galleria by DFS’ first-ever shoe salon”, which spans over two floors including exclusive-to-Macau brands. Over 100 new fashion and accessories, beauty and […]
Melco Crown Entertainment said Q1 revenue rose, boosted by income from its new Studio City project in Macau and its operations in Manila, but its net profit fell by just over a third. Analysts also said that despite the contribution to Q1 revenue, the ramp up from Studio City has been slower than expected, while […]
Casino mogul Lawrence Ho has warned Macau’s tough operating environment is to persist, reports The Australian. As part of Melco International Development Group’s annual report, Ho said despite the tough conditions in Macau, he remains optimistic about the region’s outlook, and that Macau was undergoing a transition towards a more mass market-focused business model. “Looking […]
Macau’s City of Dreams is due to open its new expanded retail arcade by mid-2016, said Melco Crown Entertainment chief executive officer Lawrence Ho in an interview with Hong Kong’s Now TV. Ho said he was satisfied with the current progress of the leasing of shops in the new development, which is part of the […]
Melco Crown Entertainment posted mixed Q3 results, with a sharp drop in earnings that still narrowly beat forecasts and revenue that missed as growth at its Manila property was outweighed by slumping gambling volumes in Macau. Net income was $33.2 million, or US$0.06 per ADS, sharply lower than the $132.2 million, or $0.24 per ADS, […]
Melco Crown Entertainment Q2 earnings and revenue missed analysts’ forecasts as VIP volumes in Macau tumbled and mass market also declined. Adjusted net income was $44.2 million, or $0.082 per ADS, down from $163.7 million, or $0.29 a year earlier. Net income attributable to Melco was $24.3 million, or $0.045 per ADS, compared with net […]
Melco Crown Entertainment is among the gaming operators competing at the All Asia Dealers Championship.
Melco Crown Entertainment Q1 earnings plunged more than 63 percent as China’s high rollers dried up, with rolling chip revenue at the company’s flagship City of Dreams Macau property falling by almost half. Adjusted net income was $87.1 million down from $239.3 million a year earlier. Per ADS the company said earnings were $0.16, down […]
Almost a decade on from Melco Crown Entertainment’s 2006 IPO, there are signs that the joint venture between two of the world’s largest casino operators is not meeting its sky-high expectations.
Integrated resorts have become a buzzword in the gaming industry, with investors and governments around Asia looking to the model as they prepare plans for new markets and properties. However, as gambling revenue in Asia's biggest resorts declines is the IR model the right formula for success?