Melco Renames Crown Towers as Nuwa in City of Dreams Manila

Crown Towers Manila pictureThe famous casino game operator Melco Resorts and Entertainment Ltd have made plans to continue its investments in the gaming industry of Philippines and grow its market presence in the Asian continent.

Melco owns 50% stake in the City of Dreams Manila, and recently it has announced to rebrand the Crown Hotel which is located in the vicinity.

The casino operator is planning to launch a new luxurious hotel in the City of Dreams and will operate under the “Nuwa” brand.

As per the officials at Melco, “Nuwa” is the name of the Mother Goddess in Chinese mythology. The deity is known as a saviour for protecting the world from destruction. This endeavour to rebrand the towers shows the seriousness and focus of Melco to strengthen the company and bring classic Asian refinement as its core. The Nuwa luxury hotel was opened for public on January 16, 2018, and another Nuwa Hotel was inaugurated at Macau on that very same day.

City of Dreams Manila

The Chairman and Chief Executive Officer of Melco Resorts, Lawrence Ho, made the following statement:

We are excited to introduce Nuwa. The new hotel brand embodies the very essence of Melco’s pursuit to provide our guests with the very best in sophistication, quality and innovation. The new brand further exemplifies Melco’s core mission to continue providing a better guest experience.

Melco Resorts has broken the partnership with Ho’s Melco Resorts and James Packer’s Crown Resort in 2017 to rebrand the Crown Towers as Nuwa. After the divestment of Packer, the casino operator has dropped the name “Crown” from the partnership name of Melco Crown Resorts and is now known as Melco Resorts and Entertainment.

Crown Resorts has sold 34% of its share in Melco which comes to around $3 billion and has planned to exit the Asian market and drop all plans for international expansion. It has now decided to focus all its efforts in the Australian gaming industry whereas Melco Entertainment has continued to expand. Recently, it got approval for developing a multi-billion casino resort at Cyprus called City of Dreams Mediterranean.

Melco has made a good performance in the Philippines and would continue to invest money in the Asian market. As per Melco’s filing with the Philippines Stock Exchange in November last year, there is a growth of 49.4% in net operating revenues from January to September to P24.2 billion, and there is a growth of 53% in casino revenues to P22.5 billion.

There is an upsurge in hotel occupancy revenue by 8% from P711 million to P771 million. Also, there is an improvement in non-casino sales like for instance retail and entertainment, food and beverage etc. from P378 million to P508.9 million.

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