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City of Dreams loses Hard Rock

Local gaming operator Melco Resorts & Entertainment is to replace the Hard Rock brand at its City of Dreams property in Cotai with a ‘temporary hotel brand’ called The Countdown, according to a company release yesterday. ‘The Countdown Hotel will operate until March 31, 2018, at which time we will open Morpheus,’ the group’s newest […]

Local gaming operator Melco Resorts & Entertainment is to replace the Hard Rock brand at its City of Dreams property in Cotai with a ‘temporary hotel brand’ called The Countdown, according to a company release yesterday.
‘The Countdown Hotel will operate until March 31, 2018, at which time we will open Morpheus,’ the group’s newest hotel tower, notes the release.
The local operator saw a 16 per cent year-on-year increase in net revenue, reaching US$1.22 billion, in the first quarter of the year, ‘the increase in net revenue was primarily attributable to improved group-wide rolling chip and mass market table games revenues,’ added the filing.
The group saw a 141 per cent increase in operating income year-on-year, with the group’s Studio City property generating a 39 per cent year-on-year increase in mass table games revenue, and a ‘ramp up’ of its VIP operations.

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