Welcome to our dedicated page for Melco Resorts And Entmnt news (Ticker: MLCO), a resource for investors and traders seeking the latest updates and insights on Melco Resorts And Entmnt stock.
Melco Resorts & Entertainment Limited (Nasdaq: MLCO) is a developer, owner, and operator of integrated resort facilities in Asia and Europe. The MLCO news stream highlights how the company’s casino and non-gaming operations perform across its portfolio, including City of Dreams, Studio City and Altira Macau, as well as City of Dreams Manila, City of Dreams Mediterranean and related satellite casinos, and City of Dreams Sri Lanka.
News for Melco frequently centers on quarterly earnings releases, where the company reports total operating revenues, operating income, net income attributable to the company, and segment-level Adjusted EBITDA and Adjusted Property EBITDA. These updates break down rolling chip volume, mass market table games drop, gaming machine handle, win rates and non-gaming revenue for each major property, giving investors and observers detailed insight into trends in Macau, the Philippines, Cyprus and Sri Lanka.
MLCO news also covers financing and capital structure developments, such as senior notes offerings by Melco Resorts Finance Limited, conditional cash tender offers for existing notes, redemptions of outstanding debt, and repayments under revolving credit and senior secured facilities. Corporate governance updates, including the appointment of independent non-executive directors and committee roles, appear in the company’s announcements and related Form 6-K filings.
In addition, Melco issues news on strategic and operational changes, such as the planned cessation of operations at Grand Dragon Casino and certain Mocha Clubs in Macau, the reallocation of gaming tables and machines, and the commencement of casino operations and management services at City of Dreams Sri Lanka. The company also reports on sustainability milestones, including achieving 100% cage-free egg sourcing across its global portfolio.
Investors tracking MLCO news can use this page to follow earnings dates, property performance, financing actions and sustainability disclosures that shape the company’s integrated resort business.
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.
Melco Resorts & Entertainment Limited has signed the Global Tourism Plastics Initiative, aiming to tackle plastic waste and pollution in the tourism sector. This commitment includes actionable goals by 2025 to eliminate problematic plastics and promote reuse. The Senior VP for Sustainability, Denise Chen, emphasized the importance of corporate responsibility in environmental issues. Melco's recent sustainability report showcases its progress towards zero waste and carbon neutrality by 2030, reinforcing its leadership in sustainable practices.
Melco Resorts Finance has priced its international offering of senior notes, raising US$500 million through 5.750% senior notes due in 2028. The notes were priced at 100% and aim to refinance existing credit facilities and support corporate needs. These senior notes will rank equally with current senior debts but will not involve Melco as a guarantor. The offering applies under Rule 144A in the U.S. and Regulation S outside the U.S., with no intention to register the notes in the U.S.
Melco Resorts Finance announced an international offering of senior notes, known as the New Notes. The net proceeds will be used to repay outstanding amounts on its revolving credit facility and for general corporate purposes. The New Notes will rank equally with existing senior indebtedness, but Melco will not guarantee them. The terms and interest rate will be determined upon pricing, and the offering is subject to market conditions. The New Notes will be available to qualified institutional buyers under Rule 144A of the Securities Act and will not be registered in the U.S.
Melco Resorts & Entertainment Limited (NASDAQ: MLCO) has announced its support for private placement offers by Studio City International Holdings Limited, dated July 7, 2020. Melco's subsidiary, MCO Cotai Investments Limited, will purchase all offered SCIHL Class A ordinary shares, aiming for total proceeds between US$450 million and US$500 million. This move signals Melco's commitment to strengthening its ties with SCIHL in the competitive gaming market, specifically in Macau and beyond.
Melco Resorts & Entertainment Limited (Nasdaq: MLCO) reported a 41% decline in total operating revenues for Q1 2020, totaling US$0.81 billion compared to US$1.38 billion in 2019, due to COVID-19 impacts. The company experienced an operating loss of US$149.9 million, down from an income of US$191.1 million the previous year. Net loss reached US$364.0 million or US$0.76 per ADS, significantly contrasted against a net income of US$120.1 million in Q1 2019. Due to this challenging environment, the board suspended the quarterly dividend to preserve liquidity.