Entertainment
Melco Resorts & Entertainment will soon build a healthcare center at its Studio City resort in Macau. This move represents a big step in the city’s efforts to diversify its economy beyond gambling. The company has teamed up with iRad Imaging and Diagnostic Medical Center for this project. They aim to open the facility on October 1, 2025.
Melco to Back iRad Hospital with Major Startup Support
The new hospital will cover 12,600 square feet and specialize in diagnostic and imaging services. Corporate filings show the facility will have equipment to perform MRI and CT scans, mammography, ultrasound, and X-ray services. Studio City Retail Services Ltd (SCRS), a Melco subsidiary, will provide and set up the required equipment, while iRad will manage day-to-day operations.
The agreement lasts until the end of 2034, with options to extend twice for five years each, reported Inside Asian Gaming. Throughout this time, iRad will pay a monthly base rent starting at MOP 694,981 ($86,700) or 1.5% of sales, whichever is greater. From the fourth year on, a management fee kicks in. When the contract ends, iRad can buy the medical equipment for a small sum.
Melco International shed light on an arrangement that involves backing Macau’s healthcare industry throughout the current gaming concession period. This requires casino operators to put a lot of money into non-gaming activities. In this case, Melco plans to give iRad monthly financial support in the beginning to help with startup and running costs. This includes hiring staff and upgrading technology. Most of this money will go to pay skilled doctors and nurses. This shows the city’s push to bring in healthcare talent.
Studio City Launches Hospital Under $13.6B Concessions Plan
The partnership has links to Melco’s top brass. A family trust that benefits Chairman Lawrence Ho and his family members, with Zedra Asia Ltd as its trustee, owns slightly over 40% of iRad. Black Spade Capital, a connected investment group, had bought a controlling share in the medical company while keeping its original management team.
Melco has pointed out that visitors and employees at its Macau sites, including Studio City, City of Dreams, and Altira, will get access to cheaper health screening packages at the new center. The company said this plan fits with its wider aim to boost community health while making Macau more attractive as a medical tourism destination.
The project is part of the 10-year concession deals inked in 2022, where the city’s six casino operators committed to invest a total of MOP 108.8 billion ($13.6 billion) in non-gaming initiatives. As several casino companies reveal similar healthcare projects, Studio City’s new hospital points to a change in the area’s resort scene.
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Silvia Pavlof