Melco Resorts Plans Strategic Alternatives for City of Dreams Manila

Lawrence Ho, CEO of Melco Resorts & Entertainment Ltd, emphasized the company's interest in investing in Thailand's casino market, describing it as a 'generational opportunity' following the Thai cabinet's approval of the Entertainment Complex Bill. While no specific timetable for casino openings has been established, the firm is actively studying the feasibility of this venture. Concurrently, Melco is exploring strategic alternatives regarding its operations at City of Dreams Manila, aiming to shift to an 'asset-light' model to enhance financial flexibility. The company has engaged CBRE Capital Advisors and Moelis & Company as financial advisors for this process, though no decisions have been finalized. Melco reported an 8.9% revenue growth year-on-year in its fourth-quarter results, signaling a recovery despite previous losses. Overall, Melco is focusing on optimizing its investments while keeping a close watch on regulatory developments in Thailand and its existing operations in the Philippines.