Melco Resorts And Entmnt Ltd Stock Price, News & Analysis

Melco Resorts & Entertainment announced the rollout of Winnow Vision, an AI-driven initiative aimed at reducing food waste across its properties. Following a successful six-month trial at City of Dreams Macau, waste in the employee dining area decreased by 67%, saving approximately 3,915kg of food waste and nearly 17 tonnes of CO2e. The company plans to expand this initiative into buffet restaurants and customer-facing areas, aligning with its sustainability goals to achieve zero waste by 2030.

Melco Resorts & Entertainment has won the 2020 Industry Community Awards' Community Award – Asia, recognizing its impactful corporate social responsibility efforts, particularly the Simple Acts of Kindness program. CEO Lawrence Ho received the Outstanding Individual Award for his leadership during the COVID-19 pandemic. Initiatives included deploying 7,000 employees for community support, donating HKD 20 million (USD 2.6 million) for medical supplies, and creating jobs for 150 locals. These efforts highlight Melco's commitment to positive community relations amid challenging times.

Melco Resorts & Entertainment Limited (MLCO) reported a significant decline in Q3 2020 results due to COVID-19 impacts. Total operating revenues fell to US$0.21 billion, down 85% from US$1.44 billion in Q3 2019. The company experienced an operating loss of US$275 million compared to operating income of US$175.2 million in the prior year. Net loss attributable to MLCO was US$331.6 million or US$0.70 per ADS. Although there was a moderate recovery from gaming operations in Cyprus and Manila, the overall performance was adversely affected by travel restrictions.

Melco Resorts & Entertainment Limited (MLCO) will release its third quarter 2020 unaudited financial results on November 5, 2020, via Form 6-K with the U.S. SEC. A conference call is scheduled for the same day at 8:30 a.m. Eastern Time (9:30 p.m. Hong Kong Time) to discuss the results. Investors can join the call using the provided dial-in details. An audio webcast will also be available on the company's website. This announcement comes amid ongoing challenges from the COVID-19 pandemic affecting its integrated resort operations.

Melco Resorts and Entertainment has announced that Morpheus at City of Dreams Macau has won the International Hotel & Property Award 2020 in the Hotel Over 200 Rooms, Asia Pacific category. Mr. David Sisk, COO of Macau Resorts, expressed gratitude for the recognition, highlighting the dedication of the Morpheus team. This award follows multiple accolades for Morpheus, including Forbes Travel Guide Five-Star Awards, the title of Best New Hotel in Macao, and the prestigious Prix Versailles award. Morpheus is recognized as an architectural masterpiece in the luxury hotel sector.

Melco Resorts & Entertainment Limited (Nasdaq: MLCO) reported its Q2 2020 financial results, revealing total operating revenues of $0.18 billion, an 88% decrease from $1.46 billion in Q2 2019, mainly due to COVID-19 impacts. The company reported an operating loss of $370.8 million, contrasting with a profit of $208.0 million last year. Net loss was $368.1 million, or $0.77 per ADS. Melco took measures to preserve liquidity, including entering a new senior facilities agreement and suspending dividends. As of June 30, 2020, cash on hand was approximately $1.2 billion, with undrawn facilities of around $1.6 billion.

Melco Resorts & Entertainment Limited (MLCO) will release its unaudited financial results for Q2 2020 on August 20, 2020, via Form 6-K with the SEC. The financial conference call is scheduled for the same day at 8:30 a.m. ET. Participants can join through various international dial-in numbers provided for multiple regions, including the US, Hong Kong, Japan, and the UK. An audio webcast will also be available on the company's website. This upcoming announcement is anticipated as investors eagerly await insights into the company's performance amidst ongoing market challenges.

Melco Resorts Finance has announced the pricing of its international offering of US$350 million in 5.750% senior notes due 2028, priced at 101% of the principal amount. The funds will be used for general corporate purposes and will rank equally with existing senior indebtedness. These Additional Notes will consolidate with previously issued Original Notes of the same interest rate. The offering will be conducted under U.S. regulations for qualified institutional buyers, and the notes will not be registered under the Securities Act.

On August 3, 2020, Melco Resorts Finance announced an intention to conduct an international offering of 5.750% senior notes due 2028, aimed at general corporate purposes. This follows a prior issuance of US$500 million in senior notes. The Additional Notes will be consolidated with the Original Notes under the existing indenture. Pricing for the offering will depend on market conditions and investor interest, with no binding agreements currently in place. The notes will be sold to qualified institutional buyers in the U.S. and internationally under applicable regulations.