{"id":32097,"date":"2015-10-27T14:19:43","date_gmt":"2015-10-27T21:19:43","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=32097"},"modified":"2015-10-27T14:51:20","modified_gmt":"2015-10-27T21:51:20","slug":"studio-city-macau-opens-with-hollywood-a-listers-in-attendance","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/studio-city-macau-opens-with-hollywood-a-listers-in-attendance\/","title":{"rendered":"Studio City Macau Opens with Hollywood A-Listers in Attendance"},"content":{"rendered":"
\"Mariah
Mariah Carey and James Packer celebrate the grand opening of Studio City Macau. Carey is rumored to have been paid $1 million for her set. (Image: theaustralian.com.au)<\/figcaption><\/figure>\n

Studio City, Macau, James Packer\u2019s new $4.5 billion integrated casino resort on the Cotai Strip, finally flung open its doors on Tuesday night with a little help from the billionaire casino mogul\u2019s latest squeeze, Mariah Carey.<\/p>\n

Carey is rumored to have been paid $1 million for belting out her back catalogue as the likes of Robert De Nero and Leonardo DiCaprio mingled among the crowd on the opening night.<\/p>\n

Not only is the TV and movie-themed Studio City the only casino to mingle television and film production facilities with the traditional retail, gaming and hotel attractions, but it\u2019s also the only resort to come with its own Scorsese-directed short film, starring the aforementioned and Brad Pitt.<\/p>\n

The evening marked the premier of the 15-minute movie, entitled The Audition, for which the stars were rumored to have pocketed around $10 million each.\u00a0 \u00a0<\/span><\/p>\n

\u201cIt\u2019s the coolest 15 minutes ever made,\u201d Packer assured a press conference earlier in the day.<\/p>\n

Burst Bubble<\/b><\/h2>\n

For all the glitz, Studio City was conceived in a very different economic climate from the one Macau knows today, a time of unprecedented growth when investors must have felt that the bubble would never burst.<\/p>\n

Two years ago Forbes declared Macau to be one of the world\u2019s fastest-growing economies. Its casinos were taking every two months what Vegas was taking in a year.<\/p>\n

But Chinese President Xi Jinping\u2019s anti-corruption drive has halted the success story and sent revenues tumbling for 16 straight months.<\/p>\n

\n

\u201cI don’t think any of the operators could have predicted what has happened now,”\u00a0Packer told CNBC recently.\u00a0“As an Australian investor in China and Macau, it’s very hard to be critical of a corruption crackdown… [but] when and how that ends is something that no one knows.”<\/strong><\/p>\n<\/blockquote>\n

Studio City was conceived by\u00a0US investment firms Silver Point Capital LP and\u00a0Oaktree Capital Management LLC<\/span>\u00a0and Hong Kong\u2019s eSun Holdings Ltd, but bitter legal wrangles between the various investors delayed its construction.<\/p>\n

Packer<\/a> and Lawrence Ho\u2019s Melco Crown stepped in 2011, gaining a controlling 60 percent stake in the property and construction work resumed.<\/p>\n

Packer Upbeat<\/b><\/h2>\n

Melco Crown had hoped to receive the blessing of the Macau<\/a> government for 400 gaming tables on the casino floor, which is the amount it says it needs to make the venture profitable, but it was announced last week that the company would receive just 250.<\/p>\n

Macau has been sparring with its table allocations in recent months, bowing to pressure from Beijing, which wants the gambling hub to concentrate on creating more non-gambling related amenities.<\/p>\n

Despite the setback Packer remains upbeat about the long-term future of Macau: <\/span>“The long-term macro picture for Macau is still incredibly exciting,” he said. “I think we’ve all got to be mindful of the fact that it’s been a terrific ride so far, and nothing is a straight line up.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Studio City, Macau, James Packer\u2019s new $4.5 billion integrated casino resort on the Cotai Strip, finally flung open its doors on Tuesday night with a little help from the billionaire casino mogul\u2019s latest squeeze, Mariah Carey. Carey is rumored to have been paid $1 million for belting out her back catalogue as the likes of […]<\/p>\n","protected":false},"author":42,"featured_media":32098,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,18],"tags":[],"acf":[],"yoast_head":"\nStudio City Macau Opens with Hollywood A-Listers in Attendance<\/title>\n<meta name=\"description\" content=\"Robert De Niro, Leonardo DiCaprio, Martin Scorsese and Mariah Carey attend Studio City, Macau grand opening\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Studio City Macau Opens with Hollywood A-Listers in Attendance\" \/>\n<meta property=\"og:description\" content=\"Robert De Niro, Leonardo DiCaprio, Martin Scorsese and Mariah Carey attend Studio City, Macau grand opening\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/studio-city-macau-opens-with-hollywood-a-listers-in-attendance\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2015-10-27T21:19:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-10-27T21:51:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/10\/709201-438b0f1e-7ca0-11e5-8a65-6b39ea9ff19d.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"650\" \/>\n\t<meta property=\"og:image:height\" content=\"366\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/studio-city-macau-opens-with-hollywood-a-listers-in-attendance\/\",\"url\":\"https:\/\/www.casino.org\/news\/studio-city-macau-opens-with-hollywood-a-listers-in-attendance\/\",\"name\":\"Studio City Macau Opens with Hollywood A-Listers in Attendance\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/studio-city-macau-opens-with-hollywood-a-listers-in-attendance\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/studio-city-macau-opens-with-hollywood-a-listers-in-attendance\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/10\/709201-438b0f1e-7ca0-11e5-8a65-6b39ea9ff19d.jpg\",\"datePublished\":\"2015-10-27T21:19:43+00:00\",\"dateModified\":\"2015-10-27T21:51:20+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"Robert De Niro, Leonardo DiCaprio, Martin Scorsese and Mariah Carey attend Studio City, Macau grand opening\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/studio-city-macau-opens-with-hollywood-a-listers-in-attendance\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/studio-city-macau-opens-with-hollywood-a-listers-in-attendance\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/studio-city-macau-opens-with-hollywood-a-listers-in-attendance\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/10\/709201-438b0f1e-7ca0-11e5-8a65-6b39ea9ff19d.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2015\/10\/709201-438b0f1e-7ca0-11e5-8a65-6b39ea9ff19d.jpg\",\"width\":650,\"height\":366,\"caption\":\"Mariah Carey and James Packer celebrate the grand opening of Studio City Macau. 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