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 & Entertainment announced a partnership with John Keells Holdings PLC to develop the 'City of Dreams Sri Lanka', an integrated resort in central Colombo. The project includes a casino license, hotel rooms, retail outlets, and more.
Melco Resorts & Entertainment reported impressive unaudited financial results for the first quarter of 2024, with a significant increase in total operating revenues, operating income, and adjusted property EBITDA compared to the same period in 2023. The positive performance was driven by the recovery in inbound tourism to Macau. Net income also improved, with a shift from a net loss in the first quarter of 2023 to a net income in the first quarter of 2024. The company highlighted various strategic initiatives taken during the period, including management changes, restructuring of sales force, and expansion of retail outlets. Melco's chairman expressed optimism about the company's growth prospects and market leadership in the gaming, entertainment, and leisure sectors.
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