Projectgamr.com – Altira Macau making a premium-mass move,
In Macau and Melco Resorts and Entertainment Limited has reportedly announced that it will soon be transforming the casino within its Altira Macau property into a premium-mass venue at the expense of any VIP business.
According to a report from Inside Asian Gaming, the Hong Kong-listed casino firm made the revelation during a recent conference call to discuss its second-quarter financial results after having earlier relocated the 216-room facilitys existing VIP and junket operations to its nearby Studio City Macau and City of Dreams Macau properties. The source detailed that the coming shift in focus is now expected to take up to a year to complete as gaming areas not already serving premium-mass customers are renovated alongside any associated non-gaming assets.
Opened as the Crown Macau in May of 2007 under a partnership between Melco Resorts and Entertainment Limited and Australian pioneer Crown Resorts Limited, the 38-story property had eventually featured a 170,000 sq ft casino offering about 170 gaming tables as well as some 20 slots. Situated in the Macau district of Taipa, the venue reportedly assumed its current moniker in June of 2009 following the opening of the 300-room Crown Towers Macau hotel at the same pairs giant City of Dreams Macau development.
David Sisk serves as the Chief Operating Officer for Melco Resorts and Entertainment Limited and he reportedly told investors that his firm was changing Altira Macaus focus following another quarterly slump from its VIP business. The executive purportedly explained that the propertys overall gaming revenues for the three months to the end of June improved by just 7.6% year-on-year to reach approximately $18.3 million while its associated adjusted earnings before interest, tax, depreciation and amortization had come in at a loss of roughly $17.3 million.
Sisk reportedly stated
The idea is to take out a lot of the volatility given the kind of reduced volumes that weve been seeing over the last 18 months in the VIP business that created a lot of fluctuations. Unfortunately, weve been on the negative side of the whole equation, which has really exacerbated the losses over there and its just too much as we were essentially gambling in a way that didnt make a lot of sense.
Sisk reportedly went on to declare that Melco Resorts and Entertainment Limited opted to transform the casino within its Altira Macau into a premium-mass facility after really focusing in on where our bread and butter is and has always been. He furthermore purportedly proclaimed that a lot of the operators recent profitability has come from the higher end of the mass-market segment and that it now intends to create a boutique experience that will offer gamblers something a little bit different when compared with its much larger City of Dreams Macau and Studio City Macau developments.
Leave a Reply
Your email address will not be published.
Notify me via e-mail if anyone answers my comment.
Current [email protected] *Leave this field empty Skilrock Technologies’ online lottery and casino games now available to Slotegrator partner networkNo More Stories
Breaking world casino news
Breaking news, casino openings and closings, plus news concerning legislation and legal issues surrounding both land casinos and online gambling.
Major international gaming news and updates from around the world, organized by continent
International gaming industry news: conferences, regulation, laws, employment and major gaming company moves. Covering land based and online gambling
Information on the development of casino games for deployment in brick and mortar casinos.
Poker tournaments, online poker legislation, poker law and poker news from around the world
Major lotteries, lottery companies and lottery news from around the world.
Make the most of your casino dollars, where we store the bonuses and have player oriented news and information
Latest news reports from around the web that pertain to online gambling and casinos.