Melco Resorts And Entmnt Ltd Stock Price, News & Analysis

Melco Resorts & Entertainment Limited (Nasdaq: MLCO) reported a significant revenue boost of 110% in Q3 2021, totaling US$446.4 million, driven by improved gaming and non-gaming segments amid rising tourism in Macau. Despite this, the company faced an operating loss of US$182.2 million, down from US$275.0 million in Q3 2020. Adjusted Property EBITDA reached US$31.9 million, a recovery from negative EBITDA in the previous year. Net loss was reported at US$233.2 million, or US$0.49 per ADS. The ongoing impacts of COVID-19 are noted, affecting operations and future outlook.

Melco Resorts & Entertainment Limited (Nasdaq: MLCO) will release its unaudited financial results for Q3 2021 on November 9, 2021, followed by a conference call at 8:30 a.m. ET. Participants can join using the provided dial-in details, and an audio webcast will be available on the company's website. The release also includes a 'Safe Harbor' statement regarding forward-looking information, emphasizing risks such as COVID-19 impacts, gaming market growth, and economic conditions. Melco operates integrated resorts across Asia and Europe, including City of Dreams and Studio City.

Melco Resorts has successfully reduced plate waste in employee dining areas by up to 35% through a partnership with Winnow and the London School of Economics. Utilizing the Winnow Vision AI system, Melco identified plate waste as a major source of food waste and implemented targeted behavioral interventions. The Winnow Sense technology, which measures food waste, was installed in employee dining rooms, leading to sustainable changes in food consumption behaviors among staff. The project showcases a significant step in addressing food waste challenges in Macau.

Melco Resorts & Entertainment Limited (Nasdaq: MLCO) reported a significant revenue increase of approximately 222% to US$566.4 million in Q2 2021, up from US$175.9 million in Q2 2020. The operating loss shrank to US$128.1 million compared to US$370.8 million a year earlier. Adjusted Property EBITDA totaled US$79.1 million, versus a negative US$156.3 million in Q2 2020. The net loss was US$185.7 million, or US$0.39 per ADS, improving from a net loss of US$368.1 million, or US$0.77 per ADS, in the same quarter last year. The company remains optimistic about the Macau market recovery amid COVID-19 challenges.

Melco Resorts & Entertainment Limited (Nasdaq: MLCO) will release its second quarter 2021 financial results on July 27, 2021, followed by a conference call at 8:30 a.m. ET. Interested parties can join via US toll-free number 1 844 760 0770 or internationally at 1 347 549 4094. The release includes forward-looking statements regarding the company's business and financial condition, highlighting risks such as the COVID-19 pandemic and gaming market recovery in Macau, the Philippines, and Cyprus. The audio webcast will be available on the company's website.

Melco Resorts & Entertainment Limited (MLCO) has launched a Share Purchase and Award Program to appreciate employees who participated in the voluntary leave scheme during the COVID-19 pandemic. The program runs from July 2021 to June 2022, allowing eligible employees to use part of their salary to buy restricted shares valued at 200% of the salary used. This initiative represents less than 0.50% of the company's total shares outstanding and aims to strengthen employee commitment as the company rebounds from pandemic challenges.

Melco Resorts & Entertainment has announced a significant three-year investment in Macau, launching Asia's first series of residency shows featuring popular artists like Aaron Kwok, Joey Yung, and Leon Lai. This project will see a total of 90 exclusive performances at Studio City from 2021 to 2024, marking a crucial step in diversifying Macau's entertainment landscape. The initiative aims to enhance the city's appeal and drive tourism, underlining Melco’s commitment to delivering world-class entertainment.