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Melco Resorts & Entertainment Limited reports developments as a Nasdaq-listed ADR issuer that develops, owns and operates integrated resort facilities in Asia and Europe. Its recurring news centers on quarterly earnings, Property EBITDA, mass market and rolling chip table games performance, and non-gaming revenue across Macau, the Philippines and Cyprus.
Company updates also cover resort and hospitality operations at City of Dreams, Altira Macau, Mocha Clubs, Studio City, City of Dreams Manila and City of Dreams Mediterranean. Additional announcements include earnings-call schedules, restaurant and luxury-hospitality recognition, and operational commentary tied to tourism, competition and property-level performance.
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.
Melco Resorts & Entertainment Limited (NASDAQ: MLCO) will release its unaudited financial results for Q1 2020 on May 14, 2020, via Form 6-K with the SEC. A conference call will follow at 8:30 a.m. ET, where investors can join using provided dial-in details. The company operates multiple integrated resort facilities in Asia and Europe, including Altira Macau and City of Dreams. Moreover, the company is developing City of Dreams Mediterranean in Cyprus, expected to be the largest integrated destination resort in Europe.