Melco to close four entertainment venues in Macau

Macau's casino operator Melco Resorts & Entertainment (0200) will close four venues by the end of this year, citing considerations for the company's overall development strategy and the law of the gaming hub.

The venues to cease operations include Grand Dragon Casino and three Mocha Clubs, namely Mocha Hotel Royal, Mocha Kuong Fat and Mocha Grand Dragon Hotel, Melco said in a statement.

Involved employees, gaming tables and electronic gaming machines will be re-allocated to other properties of Melco Resorts in Macau.

In addition, Melco Resorts will apply for the authorisations and approvals from the Macau government for three Mocha Clubs, namely Mocha Inner Harbour, Mocha Hotel Sintra and Mocha Golden Dragon, to continue operations after December 2025.

Shares of Melco rose 3 percent to HK$3.32 apiece as of 2.09 pm on Monday in Hong Kong.

STAFF REPORTER