Melco Resorts & Entertainment
Corporate brand
UnclaimedAn international developer and operator of integrated resorts combining casino gaming, hotels, dining, retail, entertainment and convention facilities.
Last updated August 31, 2026
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Overview
Melco Resorts & Entertainment is an international integrated-resort company whose portfolio combines casino gaming with hotels, restaurants, retail, live shows, entertainment attractions and meetings and convention facilities. The company is incorporated in the Cayman Islands, based in Hong Kong, and listed on the Nasdaq under the symbol MLCO. It operates through a subsidiary relationship with Melco International Development Limited. The business was established in 2004 as Melco Crown Entertainment, a joint venture between Melco International Development and Crown Limited, the Australian casino company associated with James Packer. Its original strategic focus was Macau, where the company sought to become a major participant in the territory’s liberalized casino market. In 2006, the joint venture acquired the final Macau gaming concession from Wynn Resorts for approximately US$900 million, creating the regulatory platform for a large resort-development program. The company subsequently opened Altira Macau in 2007 and City of Dreams Macau in 2009. City of Dreams became the group’s flagship Macau destination, integrating casino operations with hotels, shopping, restaurants and large-scale entertainment. Melco expanded its Macau presence through Studio City Macau, a Hollywood-themed integrated resort in Cotai in which it acquired a controlling interest. The property opened in 2015 after an investment reported at approximately US$3.2 billion. In parallel, the company entered the Philippines through City of Dreams Manila, developed with SM Investments and opened in 2015. This marked Melco’s first major resort outside Macau and demonstrated its strategy of exporting the integrated-resort model to other Asian tourism markets. A major corporate transition occurred between 2016 and 2017. Melco International became the majority shareholder, while the relationship with Crown Resorts was ended. In May 2017, Melco Crown Entertainment adopted the name Melco Resorts & Entertainment. The rebrand reflected the company’s new ownership structure and broader international ambitions. The group continued to expand the non-gaming content of its resorts, including the Morpheus hotel tower at City of Dreams Macau, an esports venue at Studio City, premium hotel brands, live entertainment and family-oriented attractions. Melco later developed a European platform in Cyprus. It obtained a long-term license for an integrated resort in Limassol, acquired a controlling interest in the project in 2019, and opened City of Dreams Mediterranean in 2023. The resort was presented as the largest integrated resort in Europe. The company also pursued an unsuccessful Japanese integrated-resort bid, first focusing on Osaka and later shifting its principal effort to Yokohama before Japan’s licensing process moved in another direction. In Macau, Melco received a new ten-year gaming concession effective January 1, 2023. The related investment commitment was stated at MOP 11.82 billion, with MOP 10 billion directed toward non-gaming projects and initiatives intended to attract international visitors. Studio City Phase 2 opened in 2023 with additional hotels, an indoor water park and MICE facilities. In 2024, Studio City Cinema added Macau’s first Dolby Cinema. The company has also continued to emphasize responsible gaming, community programs, environmental, social and governance initiatives, and economic diversification. Melco expanded into Sri Lanka with City of Dreams Sri Lanka in Colombo, developed with John Keells Holdings. The project includes hotels, retail, conference and exhibition facilities, and a gaming operation under a twenty-year license; Melco operates the gaming facility and manages the Nüwa hotel brand. Across its markets, the company positions its resorts as premium, experience-led destinations rather than casinos alone, using hospitality, entertainment and destination programming to broaden visitor demand.
History
Melco Resorts & Entertainment began in 2004 as Melco Crown Entertainment, a joint venture between Melco International Development and Crown Limited. Lawrence Ho became chief executive and an executive director, while Ho and James Packer served as co-chairmen. The venture was created to pursue gaming and resort opportunities in Macau. It listed on Nasdaq in December 2006 and later obtained a Hong Kong listing in 2011. The company’s first major strategic step was its 2006 purchase of the remaining Macau gaming concession from Wynn Resorts. The transaction gave the joint venture the regulatory foundation for an extensive resort program. Altira Macau opened in July 2007 after a reported investment of approximately US$1.45 billion. In 2009, Melco Crown opened City of Dreams Macau in Cotai. The resort became a central expression of the group’s integrated-resort model, using hotels, dining, retail and entertainment to complement casino gaming. Melco expanded its Macau portfolio by taking a 60 percent interest in Studio City Macau in 2011. The Hollywood-themed resort opened in October 2015. Its development broadened the company’s presence in Cotai and added a highly themed destination to the more luxury-oriented Altira and City of Dreams properties. In 2012, Melco Crown also began working with SM Investments on City of Dreams Manila. The Manila property opened in 2015 and was the company’s first major project outside Macau. The ownership structure changed materially in 2016 and 2017. Melco International became the majority shareholder, and the partnership with Crown Resorts was ended. The company purchased Crown’s interest and changed its name to Melco Resorts & Entertainment in May 2017. The reorganization placed the business more directly under Melco International and supported a strategy centered on the Melco brand rather than the Crown name. The group also operated Mocha Clubs, a Macau slot-machine venue concept originally introduced by Melco International. During the late 2010s, Melco invested in more varied and design-led resort experiences. The Crown Towers hotels at City of Dreams Macau and Manila were rebranded as Nüwa. Morpheus, a Zaha Hadid-designed hotel tower, opened at City of Dreams Macau in 2018. Studio City added an esports stadium in the same year. Melco also pursued overseas growth. It won a license for an integrated resort in Limassol, Cyprus, acquired control of the project in 2019 and eventually opened City of Dreams Mediterranean in 2023. The company separately explored Japan’s proposed casino-resort market, initially bidding in Osaka and later focusing on Yokohama, but did not secure a Japanese license. Melco’s investment in Crown Resorts was sold to Blackstone in 2020. The COVID-19 period forced the company to adapt operations amid travel restrictions and weak tourism flows. It supported community organizations through the Simple Acts of Kindness program and donated medical-supply funding for Wuhan and Hubei. The company also strengthened responsible-gaming and ESG programs. Its Macau properties became the first in that market to receive international third-party RG Check accreditation, according to the supplied reference material. In 2022, Macau awarded Melco a new ten-year gaming concession beginning in 2023. The company announced a MOP 11.82 billion investment commitment for the following decade, with most of the stated amount allocated to non-gaming projects and initiatives designed to attract overseas visitors. Studio City Phase 2 opened in 2023 with two additional hotels, a large indoor water park and MICE facilities. The same year, City of Dreams Mediterranean opened in Cyprus, giving Melco its first European operating platform. Melco continued to diversify its attractions in Macau. Studio City Cinema opened in 2024 with the territory’s first Dolby Cinema. The group also expanded into Sri Lanka through City of Dreams Sri Lanka in Colombo, developed with John Keells Holdings. The project includes two hotels, retail, convention and exhibition facilities, and a gaming facility operated by Melco under a twenty-year license. In 2025, House of Dancing Water returned to City of Dreams Macau, and an iRad Hospital medical facility opened at Studio City as part of the company’s stated support for Macau’s economic diversification. Melco’s current identity is therefore that of a multi-market resort developer and operator whose gaming business is supported by hospitality, entertainment, tourism infrastructure and non-gaming experiences.
- 2025
House of Dancing Water returns and iRad Hospital opens
[1]Melco restores its signature aquatic show at City of Dreams Macau and adds a medical facility at Studio City.
- 2024
Studio City Cinema opens
[1]The Macau resort adds a cinema featuring the territory’s first Dolby Cinema.
- 2023
Studio City Phase 2 and City of Dreams Mediterranean open
[1]Melco expands Studio City in Macau and opens its first European resort in Cyprus.
- 2022
New Macau concession awarded
[1]Melco receives a new ten-year gaming concession effective January 1, 2023.
- 2020
Crown Resorts investment sold
[1]Melco sells its entire Crown Resorts stake to Blackstone.
- 2019
Melco takes control of the Cyprus resort project
[1]The company acquires a controlling interest in the Limassol integrated-resort development.
- 2018
Morpheus and Macau esports venue open
[1]Melco adds the Morpheus hotel tower and an esports stadium to its Macau portfolio.
- 2017
Company adopts the Melco Resorts & Entertainment name
[1]Following a change in ownership and the end of the Crown partnership, Melco Crown Entertainment is renamed Melco Resorts & Entertainment.
- 2015
Expansion to the Philippines and Studio City Macau
[1]City of Dreams Manila and Studio City Macau both open, significantly expanding Melco’s Asian resort platform.
- 2011
Studio City interest acquired
[1]Melco Crown acquires a 60 percent interest in the Studio City Macau project.
Products and positioning
Premium, design-led integrated resorts that combine gaming with luxury accommodation, destination entertainment, dining, retail, conventions and non-gaming attractions.
Integrated resort · 2009
City of Dreams Macau
Melco’s flagship Macau destination in Cotai combines casino gaming with luxury hotels, restaurants, retail and major entertainment productions. The resort includes the Morpheus tower and has hosted House of Dancing Water, a large-scale aquatic show that became one of the company’s signature attractions.
Casino hotel · 2007
Altira Macau
Altira Macau is a premium casino hotel and resort developed as Melco Crown’s first major Macau property. It forms part of the company’s luxury-oriented Macau portfolio and complements the larger, more entertainment-focused City of Dreams and Studio City destinations.
Integrated resort · 2015
Studio City Macau
Studio City is a Hollywood-themed integrated resort in Cotai. Its facilities include gaming, hotels, dining, retail, entertainment, an esports venue and, following Phase 2, an indoor water park and MICE facilities. The expansion added Epic Tower, W Macau Studio City and Studio City Cinema.
Integrated resort · 2015
City of Dreams Manila
City of Dreams Manila is Melco’s Philippine integrated resort, developed with SM Investments. It combines casino gaming with hotels, dining, retail and entertainment and represents the group’s first major operating project outside Macau.
Luxury hotel · 2018
Morpheus
Morpheus is a high-rise hotel tower at City of Dreams Macau designed by Zaha Hadid. Its distinctive architectural form and premium accommodation strengthened Melco’s design-led positioning and expanded the resort’s luxury hospitality offer.
Integrated resort · 2023
City of Dreams Mediterranean
Located in Limassol, Cyprus, City of Dreams Mediterranean is Melco’s first European integrated resort. The destination combines gaming, hotels, dining, entertainment and tourism facilities and was developed under a long-term Cypriot gaming license.
Electronic gaming venues · 2003
Mocha Clubs
Mocha Clubs is Melco’s slot-machine venue brand in Macau. The café-style format helped introduce a more distributed electronic-gaming concept alongside the company’s destination casino resorts.
Integrated resort · 2024
City of Dreams Sri Lanka
City of Dreams Sri Lanka is a Colombo development created with John Keells Holdings. It includes two hotels, retail facilities and conference and exhibition infrastructure. Melco operates the gaming facility under a twenty-year license and manages the Nüwa hotel.
Marketing campaigns
- 2023Residency Concert Series
Macau
Melco launched a recurring concert program featuring Asian artists, including Aaron Kwok, Joey Yung and Leon Lai, to strengthen destination entertainment at its Macau resorts.
- 2020Simple Acts of Kindness
Macau · Philippines · Other operating markets
During the COVID-19 pandemic, Melco enabled employees to volunteer during working hours and support more than 1,600 community organizations. The company also contributed medical-supply funding for Wuhan and Hubei.
Outcome. The program received the Community Award – Asia at the 2020 Industry Community Awards and later received additional industry recognition.
- 2019Japan integrated-resort bid
Japan
Melco pursued a Japanese integrated-resort license, initially submitting preliminary materials in Osaka before shifting its principal focus to Yokohama. The proposed concept emphasized hospitality, entertainment and esports alongside gaming.
Outcome. Melco did not secure a Japanese integrated-resort license.
- 2019Melco Creative Exchange Fund
Japan
Melco created a fund intended to support hospitality projects in Japan outside the casino-resort bidding process, reflecting an effort to maintain a broader tourism and hotel presence in the market.
- 2019Sports sponsorship and Naomi Osaka ambassador program
Japan
Melco sponsored Manchester City in Japan and Yokohama F. Marinos, then appointed tennis player Naomi Osaka as a brand ambassador and sports director for its proposed Japanese resorts.
Brand decisions
2022
Commit to Macau’s new ten-year concessionOtherBackground
Macau renewed its casino concessions under a revised framework emphasizing tourism and non-gaming development.
Action taken
Melco accepted a new concession effective January 1, 2023, and announced MOP 11.82 billion of investment over the following decade, including MOP 10 billion for non-gaming initiatives.
Aftermath
The commitment supported further resort expansion, overseas-visitor programs and diversification of Macau’s tourism economy.
Announced Macau investment commitment. MOP 11.82 billion, including MOP 10 billion for non-gaming initiatives (Ten years from 2023)
2019
Shift the Japanese resort bid from Osaka to YokohamaStrategyBackground
After initially pursuing Osaka, Melco identified Yokohama as its preferred Japanese location when the city opened its own bidding process.
Action taken
Melco withdrew its Osaka bid and adopted a Yokohama-first strategy, including establishing an office in the city.
Aftermath
The company ultimately did not obtain a Japanese integrated-resort license.
2017
Rebrand as Melco Resorts & EntertainmentStrategyBackground
Melco International had become the majority shareholder and the partnership with Crown Resorts was ending.
Action taken
Melco Crown Entertainment changed its corporate name to Melco Resorts & Entertainment and continued under Melco International’s control.
Aftermath
The company adopted a clearer Melco identity while retaining its Macau, Philippine and development activities.
2006
Acquire the remaining Macau gaming concessionM&ABackground
The newly formed Melco Crown joint venture needed a Macau gaming license to develop and operate casino resorts in the territory.
Action taken
The company purchased the final Macau gaming concession from Wynn Resorts for approximately US$900 million.
Aftermath
The concession enabled the subsequent development of Altira Macau, City of Dreams Macau and other Macau properties.
Acquisition price. Approximately US$900 million (2006)
Recent events
Sources3 sources
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