Melco Resorts And Entmnt Ltd Stock Price, News & Analysis

City of Dreams Mediterranean, the largest integrated resort in Europe, is on track for a Summer 2022 opening. Construction is progressing smoothly, showcased in a new aerial video. Upon completion, it will feature over 500 luxury rooms, extensive MICE space, an amphitheater, and various dining and retail options, all designed to Melco's luxury standards with Mediterranean influences. The project aims to attract an additional 300,000 visitors per year and create thousands of jobs, significantly impacting Cyprus' economy and tourism landscape.

The gaming industry is rapidly evolving with esports gaining traction, especially during global lockdowns. Companies like Luckbox, Golden Nugget Gaming (GNOG), Rush Street Interactive (RSI), and Melco Resorts (MLCO) are capitalizing on this trend. Luckbox saw a 500% increase in new customers on its esports betting platform in 2020. The company allocated CAD$2 million for user acquisition around major events like the IEM Katowice tournament. Meanwhile, Golden Nugget reported a 63% revenue increase in 2020, highlighting potential for growth in online gaming.

Melco Resorts (MLCO) reported unaudited financial results for Q4 2020, showing total operating revenues of $0.53 billion, down 64% from $1.45 billion in Q4 2019. The operating loss for Q4 was $144.8 million compared to a profit of $173.4 million last year. The net loss attributable to MLCO was $199.7 million, or $0.42 per ADS. Total revenue for 2020 was $1.73 billion, a significant decline from $5.74 billion in 2019. The challenging environment was primarily due to the COVID-19 pandemic, affecting tourism and gaming operations across all properties.

Melco Resorts & Entertainment Limited (Nasdaq: MLCO) is set to release its unaudited financial results for Q4 and full year 2020 on February 25, 2021. This announcement will be followed by a conference call at 8:30 a.m. Eastern Time, allowing investors to discuss the financial performance. The company operates integrated resorts in Asia and Europe, including in Macau and Europe. As a developer and operator, Melco is also working on the City of Dreams Mediterranean in Cyprus, which is anticipated to be a significant addition to its portfolio.

Melco Resorts & Entertainment has received recognition from Forbes Travel Guide with a total of 97 Stars, including 17 Five-Star awards, across its integrated resort properties in Macau and Manila. Notably, Altira Macau has achieved the prestigious Five-Star award for 12 consecutive years. This accolade underscores Melco's commitment to excellence in hospitality. In addition, key properties such as Morpheus and Studio City also earned high standings, reflecting the company's dedication to delivering premier experiences. The group's extensive health and safety certifications further bolster its reputation.

Melco Resorts & Entertainment has announced its Studio City Phase 2 expansion has been shortlisted for the BREEAM Awards 2021 'Regional Award, Asia.' This recognition underscores the project's sustainability strategies, aiding Melco's goals towards carbon neutrality and zero waste. The expansion will feature approximately 900 rooms and various attractions, including one of the world's largest water parks. Emphasis is placed on minimizing ecological impact, engaging ecologists for habitat preservation, and adhering to sustainable procurement practices.

On January 27, 2021, Melco Resorts & Entertainment received seven Michelin stars for its restaurants in Macau, as recognized by the Michelin Guide Hong Kong Macau 2021. Among them, Jade Dragon earned 3 stars, while Alain Ducasse at Morpheus received 2 stars for the third consecutive year. Pearl Dragon and Ying were awarded 1 star each. The accolades highlight the company's commitment to high-quality dining experiences and enhance its brand recognition in the competitive hospitality market.

Melco Resorts Finance has priced its international offering of US$250 million in 5.375% senior notes due 2029 at 103.25% of the principal amount. Proceeds will repay a revolving credit facility and for general corporate purposes. These Additional Notes will consolidate with the existing US$900 million senior notes issued in December 2019. The offering is aimed at qualified institutional buyers under U.S. securities regulations and will not be registered under the Securities Act. Melco Resorts Finance remains focused on managing its debt obligations amidst ongoing economic uncertainties.

Melco Resorts Finance Limited plans to offer 5.375% senior notes due 2029 to repay a revolving credit facility from April 29, 2020. The Additional Notes will be consolidated with existing notes under a December 2019 indenture. The offering is subject to market conditions and has no binding agreement yet. The notes will not be registered under the U.S. Securities Act and are aimed at qualified institutional buyers. Forward-looking statements in the release highlight potential risks including market volatility and the ongoing effects of COVID-19.