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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.
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On April 26, 2023, Melco Resorts & Entertainment was awarded seven Michelin stars across four restaurants in Macau by the MICHELIN Guide Hong Kong Macau 2023. This recognition establishes Melco as a leading operator in the region’s culinary scene. The Jade Dragon earned three stars for the fifth consecutive year, while Alain Ducasse at Morpheus received two stars, also for the fifth straight year. Additionally, Pearl Dragon and Ying were each awarded one star. Chairman Lawrence Ho expressed pride in these awards, emphasizing the company's commitment to enhancing Macau's status as a top tourism destination and showcasing its culinary excellence.
Melco Resorts (Nasdaq: MLCO) announces the opening of an innovative indoor water park and its Epic Tower hotel at Studio City Phase 2 in Macau, solidifying its commitment to diversifying the local tourism industry.
The newly launched US$1.2 billion project spans nearly 10,000 square meters, featuring 16 thrilling waterslides and attractions, along with 338 chic hotel suites designed by Zaha Hadid Architects. The opening ceremony showcased Melco's dedication to enhancing Macau's leisure offerings, attended by notable government officials.
CEO Lawrence Ho emphasized the significance of this development amid a new ten-year gaming concession, marking a pivotal moment for both the company and Macau’s tourism landscape. This project is expected to elevate Studio City as Asia's entertainment hub and demonstrates Melco's long-term confidence in Macau's growth.
Melco Resorts & Entertainment Limited (MLCO) announced a share repurchase agreement to buy back 40,373,076 ordinary shares from Melco Leisure for approximately US$169.8 million. This deal, priced at US$4.2067 per share, will reduce Melco Leisure's stake from 53.1% to 51.7%. The transaction is contingent on customary conditions and aims to enhance shareholder value. Additionally, the company retains US$412 million for future repurchases as part of its US$500 million buyback program. This strategic move follows a US$200 million repayment received from Melco International in January 2023, signaling the company's strong cash position.
Melco Resorts & Entertainment Limited (MLCO) reported its fourth quarter and full year 2022 financial results. The company faced significant challenges, with total operating revenues declining by 30% to US$337.1 million in Q4 2022 compared to Q4 2021, mainly due to COVID-19 travel restrictions. The operating loss for the quarter reached US$199.5 million, up from US$104.4 million a year earlier. The net loss attributable for Q4 was US$251.9 million, or US$0.57 per ADS. Total revenues for 2022 were US$1.35 billion, down from US$2.01 billion in 2021, with a net loss of US$930.5 million. Looking ahead, the company highlighted recovery signs post-restrictions and upcoming project launches.