Melco Resorts And Entmnt Ltd Stock Price, News & Analysis

Melco Resorts & Entertainment Limited (Nasdaq: MLCO) reported a significant decline in Q3 2022 financial results, with total operating revenues of US$241.8 million, down 46% from US$446.4 million in Q3 2021. The loss is attributed to COVID-19-related casino closures and travel restrictions. The company recorded a negative Adjusted Property EBITDA of US$34.9 million and an operating loss of US$198.5 million. Net loss attributable to Melco was US$243.8 million, or US$0.53 per ADS. Despite challenges, there is cautious optimism for an increase in tourism following recent easing of travel restrictions.

Melco Resorts & Entertainment Limited (Nasdaq: MLCO) will release its Q3 2022 financial results on November 2, 2022, followed by a conference call at 8:30 a.m. ET. Participants must register in advance to receive their dial-in details. The call will be accessible via an audio webcast on the company’s website. The press release includes forward-looking statements regarding business risks, including COVID-19 impacts and regulatory changes in Macau, which may affect the company's operations and financial outlook.

On September 14, 2022, Melco Resorts & Entertainment Limited (Nasdaq: MLCO) announced that its subsidiary submitted a proposal for new gaming concessions in response to a public tender launched by the Macau Government in July. Chairman Lawrence Ho expressed gratitude for the opportunity, emphasizing the company's commitment to Macau's economic diversification. This proposal reflects Melco's intent to collaborate with the government in shaping the future of the region's gaming industry.

Melco Resorts & Entertainment's training program, 'Morpheus Moments – Whatever It Takes, Whenever, However', won the 2022 Excellence in Practice Award from the Association for Talent Development (ATD) in the Customer Service Training category. This recognition highlights Melco's commitment to excellence, aligning training with brand service promises. The program's success reflects efforts by the entire team and leadership. Melco also achieved 97 Stars in the 2022 Forbes Travel Guide, demonstrating its leadership in Macau's integrated resort market.

Melco Resorts & Entertainment Limited (MLCO) reported a Q2 2022 operating revenue of US$296.1 million, down 48% from US$566.4 million in Q2 2021, primarily due to COVID-19 restrictions in Macau. The company posted an operating loss of US$209.2 million, worse than the US$128.1 million loss from the previous year. Net loss attributable to Melco was US$251.5 million, or US$0.53 per ADS. Adjusted Property EBITDA was negative at US$13.8 million, significantly down from US$79.1 million in Q2 2021. Despite challenges, operations in the Philippines and Cyprus show signs of recovery.

Melco Resorts & Entertainment Limited (Nasdaq: MLCO) will release its unaudited financial results for the second quarter of 2022 on August 18, 2022, with a conference call scheduled for 8:30 a.m. ET. Participants can join by registering online to receive dial-in details. The company operates integrated resort facilities in Asia and Europe and provides insights into its future business outlook in this release. The business remains cautious due to inherent risks, including the impact of COVID-19 and potential changes in gaming laws in Macau.

Melco Resorts & Entertainment Limited (Nasdaq: MLCO) announced the extension of its gaming subconcession for Melco Resorts (Macau) Limited until December 31, 2022. This decision comes after signing an Amendment Agreement with Wynn Resorts (Macau) Limited. As part of the agreement, Melco Resorts Macau will pay MOP47 million (about US$5.8 million) to the Macau government and submit a bank guarantee of at least MOP820 million (approximately US$101.4 million). The agreement also confirms the reversion of gaming areas back to the Macau SAR, reinforcing compliance with new gaming laws.

Melco Resorts & Entertainment announces the upcoming launch of the family-friendly Super Fun Zone at Studio City, expected to open in June 2022. Covering 29,600 square feet, this entertainment venue will include five themed areas: Mountain, Forest, Under the Sea, Outer Space, and Space Station, with activities suitable for all ages. Key attractions feature the Bubble Zone, Monkey Rope, and Cosmic Bounce, alongside dining options and party facilities. The COO, David Sisk, highlights the company's commitment to economic diversification and innovative attractions in Macau's tourism sector.