Melco Crown Entertainment's Studio City will start with 1,233 gaming consoles, along with 250 gaming tables approved by the Macau government for the scheduled opening on Oct. 27, said Economy and Finance Minister Lionel Long Vai.
Studio City will start with 200 game tables with approval for the remaining 50 game tables to be operated in January 2016. According to the Secretary-General, the promotion of more non-game attractions, combined with the fact that Studio City does not have junket business or VIP rooms, will help. 온라인카지노
According to Leong, the gaming industry is performing better during this adjustment and is witnessing a narrowing gap between the mass market and the VIP sector. Game operators are encouraged to add more tables to the large gaming floor to help promote non-gaming elements such as food and drink and entertainment that the minister believes are. Adding game tables in a new market rather than moving tables from existing properties can create incremental business for operators. The table allocation issue was realized when Melco's April filing revealed that casinos could technically fall into default on $1.4 billion in loans if they don't operate at least 400 tables by this time next year. “Following confirmation of table allocation, Studio City plans to actively engage lenders under senior credit facilities to discuss proposed modifications to its lending documents, reflecting the number of tables allocated,” a press release said Tuesday.
This week in Macau, the topic of table allocation was widely discussed, and it was the basis for heated discussions between local officials and Win Resorts Inc. The company will open its win palace on kotai street on March 25, 2016, with Steve win complaining about the government's table allocation policy, calling it “an almost mysterious process,” “outrageous and ridiculous” and “the most counterintuitive and irrational decision ever made.”
But Leung said it took “similar time” to process the table applications from the two game operators and they received the grant about 40 days after the applications were submitted. Leung added that the city's “table cap” policy, which aims to keep the number of live dealer tables at 3% by the end of 2022, is under the new table grant and that game operators know the time range required for the application process.
