he Hong Kong entertainment chain released a statement confirming that plans for casino tables in the venue were being submitted to the Macau government, and that the group is confident their proposals will be approved.
Expanding gaming in Macau would be a smart move for the luxury resort brand, as VIP gambling revenues continue to rise in the autonomous region.
Melco’s Morpheus hotel project is nearing completion, and the luxury five-star property is expected to open in the first half of 2018. It forms part of the City of Dreams complex, owned and operated by Melco, which hosts a number of gaming and hotel venues brands including Hard Rock and Grand Hyatt.
Morpheus will add a further 2,100 hotel rooms to the complex, along with spa and pool facilities, fine gourmet restaurants and exclusive nightclubs.
Introducing a gaming floor would be the final flourish to this extravagant resort venue. “I don’t think any architecture in any building in Macau is remotely close to Morpheus,” said Melco CEO Lawrence Ho in a recent press release.
Revenues up as Melco looks to expand
A luxury hotel in a gambling city is going to attract more than a few high rollers, and Melco hopes to serve them directly within the hotel Morpheus, instead of losing their business to a competitor.
If proposals pass, more than 50 casino tables will be introduced across a special gaming floor – including a number of exclusive VIP gaming rooms.
VIP gaming has boosted Melco’s Macau revenues by 21% this year, and the industry has seen an overall rise in VIP gambling – which accounts for 57% of the gaming market in the region.
The City of Dreams complex posted $644.6 million in profits during the last half of 2016, and projections suggest that growth will continue over the coming year across the whole of the VIP gaming sector.
This makes it a great time for a luxury resort to capitalize on the potential profits – which is exactly what Melco hopes to do with the Morpheus project.