Studio City (Macau)

For other uses, see Studio City (disambiguation).
Studio City
新濠影滙
Location Cotai, Macau, China
Address Estr. Flor de Lotus
Opening date 27 October 2015 (27 October 2015)
Theme Hollywood[1]
Number of rooms 1,600
Total gaming space 106,000 sq ft (9,800 m2)
Signature attractions Golden Reel
Batman Dark Flight
Notable restaurants Cosmos Food Station
Casino type Land-based
Owner Silver Point Capital LP
Oaktree Capital Management LLC
eSun Holdings Ltd.
Melco Crown Entertainment (60%)
Architect Goddard Group
Website studiocity-macau.com

Studio City is a hotel and casino resort in Cotai, Macau, China. It is Asia's first leisure resort to integrate television and film production facilities, retail, gaming and hotels. It is jointly developed by U.S. investment firms Silver Point Capital LP and Oaktree Capital Management LLC and a Hong Kong entertainment company, eSun Holdings Ltd. In June 2011, Melco Crown Entertainment took over a 60% share of the property developer. Studio City Macau was officially opened on 27 October 2015.[2][3]

History

The US$2 billion project was built on Macau's Cotai Strip and opened in 2015.[4]

Taubman Centers

Taubman Centers was acquiring a 25 percent interest in The Mall at Studio City, the retail component of Macau Studio City, Taubman was to fund an initial cash payment of US$54 million. Taubman's total investment in the project (including the initial payment, allocation of construction debt and additional payments anticipated in years two and five after opening) was expected to be approximately US$200 million.[5] But in August 2009, Taubman announced that it had pulled out of the project, recovering its 25 percent, US$65 million interest in the project's huge shopping mall development, according to www.macaubusiness.com. "Under the established agreement, if the developers, Cyber One, were unable to secure financing within an 18 month period, Taubman would get its 25 percent share back. That's what happened, as the set period expired on August 11," Morgan Parker, Taubman's Asia Pacific region president told www.macaubusiness.com.[6]

Melco Crown takeover

Gaming operator Melco Crown Entertainment gained control of the long-delayed Macau Studio City project by buying a 60 percent share in the Cotai resort developer. Melco announced the deal on 16 June 2011 morning and co-chairman Lawrence Ho Yau Lung said at a press conference it would invest USD 1.7 billion (MOP 13.7 billion) in the development.

On 12 January 2015, the chairman of Melco announced that the Studio City resort would open around "mid-year" 2015, adding 1,600 hotel rooms and an intended 400 gambling tables to the Cotai Strip. Inspired by Hollywood, the cinematic-themed resort were to comprise a 30,000-square-foot Family Entertainment Center in collaboration with Time Warner Inc. subsidiaries Warner Bros and DC Comics. Highlighted in the unveiling ceremony, the entertainment center would feature popular DC Comics characters, such as Superman, Wonder Woman and The Flash. Visitors were to be taken on a virtual reality Batman ride in the resort, as well as a 130-meter-tall Ferris wheel.[7]

Gaming facility dispute

Studio City Macao under construction in January 2015.

Macau's Secretary for Transport and Public Works Lau Si Io confirmed on 6 July 2011 that there would be no gaming facility in the Macau Studio City project. The secretary reiterated that the developer of this Cotai property is required to adhere to the 2008 development plan approved by the government. The plan, he reaffirmed, includes a major component of a film production facility but should not contain any gaming elements.[8] But Melco Crown Entertainment was confident that the Macao Studio City will receive the necessary government approvals to include a gaming floor. The company’s chief executive and co-chairman Lawrence Ho Yau Lung said he was confident of striking a deal with the SAR Government to build a casino on the site.[9]

Design and attractions

Studio City Macau features an Art Deco design inspired by two asteroids shooting through a Gotham City building.[10] The resort was designed by Goddard Group, a Los Angeles-based entertainment design firm also responsible for the design of Cotai’s Galaxy Macau Resort.[11][12][13]

The resort’s two hotel towers (The Star Tower and the Celebrity Tower) are connected by the Golden Reel, the world’s first figure-8 ferris wheel. Boarding at the hotel’s 23rd floor, the wheel features 17 cabins holding up to 10 passengers each. The design was developed by the Goddard Group, and the hardware was manufactured by Liechtenstein's Intamin Amusement Rides.[14][15] The 15-minute ride will take guests to a height of 130 meters.[16]

Another attraction is Batman Dark Flight, a flying theater attraction.[13][17]

Studio City is home to a food court called Cosmos Food Station, on which guest can look out upon space through giant portal windows.[18]

The resort also features a 40,000 square foot children’s playground called the Warner Brothers Fun Zone[19]

See also

References

  1. ↑ http://www.cnn.com/2015/11/05/travel/macau-studio-city-wheel/
  2. ↑ Studio City Macau. Studio City Macau http://www.studiocity-macau.com/. Retrieved 8 September 2015. Missing or empty |title= (help)
  3. ↑ http://www.studiocitymacaumedia.com/en/doc/pr/20151027c/pr.html
  4. ↑ Macao Studio City website
  5. ↑ Taubman Invests in The Mall at Studio City. - Macao Studio City Macao Studio City. 31 Jan 2008.
  6. ↑ Taubman pulls out of Macau Studio City Macau Daily Times. Wednesday, 26 August 2009.
  7. ↑ Brook Yang (13 January 2015). "Studio City Melco teams up with Time Warner to open family entertainment center". Macau Daily Times.
  8. ↑ No casino in Studio City: Lau Macau Daily Times 07/07/2011 07:01:00
  9. ↑ Melco hopeful of casino at Studio City Macau Daily Times. 30 August 2011.
  10. ↑ "China's building a Gotham-inspired super casino that bets big on Batman". The Verge. The Verge. Retrieved 8 September 2015.
  11. ↑ "Goddard Group designs Studio City in Macau". Hotel Design. Hotel Design. Retrieved 8 September 2015.
  12. ↑ Alton, Elizabeth. "The Goddard Group: Leading the Way In China's Entertainment Boom". Entertainment Designer. Entertainment Designer. Retrieved 8 September 2015.
  13. 1 2 Young, Josh. "Studio City Announced For Macau Featuring Batman, Magicians, Celebrities and More!". Theme Park University. Theme Park University. Retrieved 8 September 2015.
  14. ↑ "World's First Figure Eight Ferris Wheel To Open In Macau". Contemporist. Contemporist. Retrieved 8 September 2015.
  15. ↑ Green, Dennis. "The world's first figure-8 ferris wheel is being built inside this $3.2 billion Macau casino Read more: http://www.businessinsider.com/studio-city-macau-builds-the-worlds-first-figure-8-ferris-wheel-2015-7#ixzz3lAoKyOpA". Business Insider. Business Insider. Retrieved 8 September 2015. External link in |title= (help)
  16. ↑ Amey, Katie. "The Golden Reel is nearly ready to spin! World's first figure 8 Ferris wheel inspired by two flaming asteroids is set to open in China Read more: http://www.dailymail.co.uk/travel/travel_news/article-3162539/The-Golden-Reel-nearly-ready-spin-World-s-figure-8-Ferris-wheel-inspired-two-flaming-asteroids-set-open-China.html#ixzz3lAoU4jic Follow us: @MailOnline on Twitter". Daily Mail. Daily Mail. Retrieved 8 September 2015. External link in |title= (help)
  17. ↑ Schneider, Steven. "Batman-Inspired Casino Set For Construction...In China". Tech Times. Batman-Inspired Casino Set For Construction...In China. Retrieved 8 September 2015.
  18. ↑ "Cosmos Food Station". Studio City Macau. Studio City Macau. Retrieved 8 September 2015.
  19. ↑ "Warner Bros. Fun Zone". Studio City Macau. Studio City Macau. Retrieved 8 September 2015.
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Coordinates: 22°08′28″N 113°33′39″E / 22.141143°N 113.560696°E / 22.141143; 113.560696

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