Melco Resorts and Entertainment Ltd told a 4th quarter earnings call that its City of Dreams (CoD) Manila is operating a “100 percent capacity after the lifting of some Covid restrictions. It has now been placed on “alert level 1” the lowest level of countermeasure against the virus.
According to GGR Asia, Lawrence Ho Yau Lung, chairman and chief executive of Melco Resorts, the low alert level is due to be lifted March 15.
The Manila property, he said, had recorded “strongest quarterly” earnings since the pandemic arrived in 2020. The Philippines reopened its border to fully vaccinated tourists in February.
City of Dreams Manila President Geoff Andres commented on the call: “The challenge we have right now, though, is that our foreign tourists, with the exception of those from the United States, can’t get back to their home country without going through quarantine, so we’re still missing our customers from Japan and South Korea and some… Southeast Asia countries.”
“Premium direct” gaming business at the casino more than doubled during the Chinese New Year period last month, compared to the year before. It has continued that trend in subsequent weeks. Premium direct players are directly managed VIPs.
Ho added that the City of Dreams during that same period “demonstrated strength, increasing around 20 percent,” compared to the year before.
