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.
Summary not available.
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.
Melco Resorts (NASDAQ: MLCO) reported Q1 2022 revenues of $474.9M, down 8% YoY, primarily due to COVID-19 restrictions impacting Macau's gaming market. The operating loss narrowed to $135.9M from $162.8M in Q1 2021. Adjusted EBITDA improved to $56.0M, compared to $30.1M last year. Net loss was $183.3M or $0.39 per ADS, an improvement from $232.9M or $0.49 per ADS in Q1 2021. Total debt rose by $1.3B, necessitating careful liquidity management. The company remains optimistic about recovery as travel restrictions ease in Macau and the Philippines.
Melco Resorts & Entertainment Limited (Nasdaq: MLCO) will release its unaudited financial results for Q1 2022 on May 5, 2022. The results will be followed by a conference call at 8:30 a.m. Eastern Time. The company operates integrated resorts in Asia and Europe, including properties in Macau and the Philippines. An audio webcast will also be available for those interested in the results. This press release includes forward-looking statements about the company’s beliefs and expectations, highlighting potential risks related to the global economy and gaming market.
Melco Resorts & Entertainment has achieved a remarkable recognition from the 2022 Forbes Travel Guide, earning a total of 97 Stars, including 17 Five-Star awards. This accolade underlines the company's leadership within Macau and Asia's integrated resort industry, with all properties, such as City of Dreams, Studio City, and Altira Macau, being recognized. Noteworthy is Altira Macau's 13th consecutive year as a Five-Star recipient in both Hotel and Spa categories, solidifying Melco's commitment to exceptional hospitality.
Melco Resorts & Entertainment Limited (Nasdaq: MLCO) reported its fourth quarter and full year 2021 financial results. Total operating revenues decreased by 9% to US$480.6 million compared to Q4 2020. The company posted an operating loss of US$104.4 million, but improved Adjusted Property EBITDA to US$94.0 million from US$53.4 million a year prior. The net loss for Q4 was US$159.9 million, down from US$199.7 million in Q4 2020. For 2021, Melco reported total revenues of US$2.01 billion, a rise from US$1.73 billion in 2020.
Melco Resorts & Entertainment Limited (Nasdaq: MLCO) will announce its unaudited financial results for the fourth quarter and year ended December 31, 2021, on March 1, 2022. A conference call is scheduled for the same day at 8:30 a.m. Eastern Time (9:30 p.m. Hong Kong Time). Investors can join via provided dial-in numbers and an audio webcast will be accessible on the company's website. This announcement is part of regular reporting and includes forward-looking statements that address potential risks and market conditions affecting the company's future performance.
On February 7, 2022, Melco Resorts & Entertainment Limited (Nasdaq: MLCO) announced that its subsidiary, MCO Cotai Investments Limited, has agreed to acquire approximately 220 million Class A ordinary shares of Studio City International Holdings Limited for a total of around US$165 million. This investment expands Melco's portfolio in the integrated resort sector. The transaction is exempt from registration under the U.S. Securities Act and is subject to applicable regulations. Melco is notably supported by its major shareholder, Melco International Development Limited.
Melco Resorts & Entertainment has received seven Michelin stars for four of its signature restaurants in Macau, as recognized by the Michelin Guide Hong Kong Macau 2022. This achievement positions Melco as a leading integrated resort operator with the highest number of Michelin stars in the region. Notable awards include Jade Dragon with 3 stars, Alain Ducasse at Morpheus with 2 stars, and Pearl Dragon and Ying each claiming 1 star. The commendations underscore Melco's commitment to culinary excellence and enhance its reputation in the hospitality sector.
Melco Resorts & Entertainment has announced a strategic partnership with Marriott International to launch W Macau - Studio City in December 2022. This new hotel will feature 557 guestrooms, including 127 suites, and will complement Studio City Phase 2's offerings, which include a large water park and other entertainment options. David Sisk, COO of Melco Macau Resorts, emphasized the partnership's potential to enhance Macau's appeal as a leisure destination. The hotel aims to provide unique experiences with high-energy social spaces and diverse culinary options, making it a key attraction in Cotai.