Studio City International Holdings Limited (SCIHL), a subsidiary of Melco Resorts & Entertainment, has been granted a further extension to the government-imposed deadline to complete the development of Phase 2 of its Cotai integrated resort, Studio City.
The company revealed via a filing to the New York Stock Exchange that it has an additional six months to complete Phase 2, with the deadline extended from December 27, 2022 to June 30, 2023. Studio City was granted an extension last year seven months from a previous deadline of May 27.
This latest expansion comes just days after Melco said it remains on track to open Studio City Phase 2 by December, with development “progressing”.
Costing US$1.3 billion, Phase 2 is designed by Zaha Hadid Architects and is expected to feature a “modern interpretation of the rich details, bold geometries and craftsmanship of the Art Deco period” with fixtures non-gaming, including one of the finest in Asia. largest indoor and outdoor water parks, a six-screen Cineplex featuring two regular houses and four VIP suites, and a state-of-the-art MICE space.
Melco – Macau Resorts COO David Sisk also said at the closing ceremony late last year that the new play space to be incorporated into the development would target the upscale segment, offering a premium experience than currently available at the Cotai. integrated station. The play space is expected to cover approximately 2,300 square meters of the expansion project’s 250,000 square meters in total gross area.