According to reports, Melco Resorts & Entertainment plans to spend USD 125 million to renovate the City of Dreams hotel

According to reports, Melco Resorts & Entertainment (MLCO.US) management stated during the earnings conference call that they plan to spend approximately $125 million to renovate about 330 rooms at the Morpheus Hotel in Macau, with the reopening expected in the third quarter of 2026.

Foreign media quoted the group's chairman and CEO, Lawrence Ho, as saying that in addition to renovating the Morpheus Hotel, the group also plans to upgrade the retail and dining facilities at City of Dreams and continue to enhance product quality. Ho also mentioned that the group opened the Signature Clubhouse area at City of Dreams in July this year, specifically designed for high-end mid-market customers, featuring a private gaming room, hairdressing services, F1 racing simulators, and other exclusive facilities.

The group's Chief Financial Officer, Geoffrey Davis, pointed out that looking ahead to next year, they plan to adopt a more balanced cash flow strategy. Although debt reduction remains a primary goal, the group hopes to have the opportunity to resume quarterly dividends by the end of next year