Melco Resorts Chairman and CEO Lawrence Ho has reiterated that he has no plans to invest in any new overseas casino-resort developments in the near future, preferring to focus on debt reduction instead.
The company currently operates three properties in Macau – City of Dreams, Studio City and Altira – runs IRs in Manila and Cyprus and was recently granted a 20-year casino licence in Sri Lanka.
In an interview with TDM on Tuesday, Ho said the group does not have any more overseas investment plans for the time being and would instead focus on its existing facilities with a focus on Macau.
“Macau has its own unique advantages and will not be easily replaced,” he said. “Our next big project is the revitalization of Piers 23 to 25 in the Inner Harbour area of Macau, which is in support of the (Macau) government’s development [plans]. The design is already in place and we’re waiting for the government to hand over the site, which is a very old heritage site.”
Melco announced last year that it would revitalise Inner Harbour Piers 23 and 25, as well as Mount Fortress and its surrounding space.
The Inner Harbour project will include the addition of new cultural and tourism elements and the establishment of an Inner Harbour market. It will also see the introduction of gift and souvenir shops, a tourist information center, a bookstore, cafes and teahouses.
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