Melco Crown Entertainment’s new Macau casino Studio City has formed a contingency plan covering the possibility that its gaming table allocation will be lower than anticipated.
Studio City International Holdings has involved Kirkland & Ellis LLP as its counsel and Moelis & Company LLC as its investment banker to assist it with contingency planning ahead of any table allocation decision for Studio City, which is set to open on October 27, 2015.
Lawrence Ho, co-chairman and CEO of Melco Crown, which owns 60% of Studio City International Holdings, said that a mass market-oriented strategy for Studio City depends on the number of tables that will be granted by the Macau government’s chief executive Fernando Chui Sai On.
Melco Crown has been consistent with its request of 400 tables from the government.