Melco to launch luxury hotel brand in Macau and Manila
MANILA, Philippines – Melco Resorts and Entertainment Limited, the listed operator of integrated resort and gaming complex City of Dreams, is set to launch its new luxury hotel brand that will debut in Macau and in Manila next Tuesday, January 16.
To be called NÜWA, Melco's new hotel brand will replace the current Crown Towers in its flagship property, City of Dreams. (READ: FAST FACTS: What you need to know about the Philippine casino industry)
"We are excited to introduce NÜWA. The new hotel brand embodies the very essence of Melco's pursuit to provide our guests the very best in sophistication, quality, and innovation," Lawrence Ho, chairman and chief executive officer of Melco Resorts and Entertainment (Philippines) Corporation, said in a statement.
Ho and Entertainment Gaming Asia chief executive officer Clarence Chung are set to meet with President Rodrigo Duterte on Thursday, January 11.
Entertainment Gaming Asia is majority owned by Melco International Development Limited, which is the majority shareholder in Asian casino operator Melco Resorts and Entertainment.
In the 1st 9 months of 2017, the City of Dreams Manila operator saw a net income of P469.6 million, which was a turnaround from the P1.59-billion net loss it saw in the same period in 2016.
The significant improvement in financials was driven by its casino revenues.
City of Dreams Manila, which opened on February 2, 2015, is an integrated casino resort located in a 6.32-hectare property at Entertainment City in Parañaque City.
As of September 2017, City of Dreams Manila has around 286 gaming tables, 1,605 slot machines, and 176 electronic table games in operation. – Rappler.com