Studio City International Holdings Stock Price, News & Analysis

Studio City International Holdings Limited (NYSE: MSC) has filed its annual report on Form 20-F for the fiscal year ending December 31, 2021. The report contains audited consolidated financial statements and is available on the company's investor relations website. Shareholders and ADS holders can request a hard copy of the report at no charge. The press release includes a safe harbor statement regarding forward-looking statements, indicating potential risks such as the ongoing impact of COVID-19 and economic conditions affecting the gaming market in Macau.

Studio City International Holdings Limited (NYSE: MSC) reported its unaudited financial results for Q4 and full year 2021. Q4 operating revenues rose to US$28.4 million, up from US$23.7 million in 2020. The casino generated US$91.1 million in gross gaming revenues, while total operating loss for 2021 decreased to US$191.6 million from US$279.9 million in 2020. Total cash stood at US$499.4 million. Subsequent to the year-end, the company announced a US$350 million senior secured notes offering.

Studio City International Holdings Limited (NYSE: MSC) will release its fourth quarter and full year financial results for 2021 on March 1, 2022. The press release emphasizes the company's commitment to transparency and adherence to regulatory frameworks. Key factors affecting results include the ongoing COVID-19 pandemic, market growth in Macau, capital market conditions, and regulatory changes in the gaming sector. The company acknowledges potential risks impacting its business outlook and emphasizes the importance of government approvals and market conditions.

Studio City Company Limited has priced its international offering of US$350 million in senior secured notes due 2027, bearing a 7.00% interest rate. The funds will be utilized for capital expenditures related to the completion of the Studio City project and other corporate purposes. The notes will rank equally with existing senior debt and will not be guaranteed by Melco Resorts & Entertainment. Approval for listing on the Singapore Exchange has been received, but the notes will not be offered or sold in the U.S. without registration.

Studio City International Holdings Limited (NYSE: MSC) announced a private placement to existing institutional shareholders, raising approximately US$300 million at US$0.75 per Class A ordinary share or US$3.00 per American Depositary Share (ADS). The agreements involve holders of over 99% of the company’s outstanding shares. The placement is exempt from registration under U.S. securities laws, indicating a strategic move to bolster capital amidst ongoing market challenges.

Studio City Company Limited announced plans for an international offering of senior secured notes to partially fund ongoing capital expenditures and general corporate purposes. The notes will rank equally with existing senior debt and will be guaranteed by its subsidiaries, but not by Melco Resorts & Entertainment or SCIHL. The interest rate and terms will be determined upon pricing, and the offering depends on market conditions and investor interest. The notes will be offered in compliance with U.S. Securities laws but will not be registered for general sale in the U.S.

Studio City International Holdings Limited (NYSE: MSC) reported a significant increase in total operating revenues for Q3 2021 at US$18.7 million, compared to US$0.9 million in Q3 2020. The surge in revenues was primarily due to a rise in gaming operations and non-gaming revenues driven by increased tourism. Gross gaming revenues reached US$85.0 million, with rolling chip volume at US$472.4 million. However, the company faced an operating loss of US$55.7 million and a net loss of US$63.2 million, albeit improved from last year. Cash balances stood at US$651.1 million, and total debt increased to US$2.09 billion.

Studio City International Holdings Limited (NYSE: MSC) will release its unaudited financial results for Q3 2021 on November 9, 2021. The company is a major integrated resort located in Cotai, Macau. Investors are advised that this announcement may include forward-looking statements, which entail various risks including the lingering effects of the COVID-19 pandemic and its impact on the gaming industry. For more information about the company, visit www.studiocity-macau.com.

Studio City International Holdings Limited (NYSE: MSC) reported a significant revenue turnaround in Q2 2021, achieving total operating revenues of US$31.2 million, compared to a negative US$12.5 million in Q2 2020. This increase was driven by a rise in gaming and non-gaming revenues due to improved inbound tourism. Gross gaming revenues increased to US$106.1 million from US$6.7 million, with rolling chip volume reaching US$386.1 million. However, the company reported a net loss of US$59.7 million, reduced from US$91.0 million a year prior, and faced ongoing operational impacts from COVID-19 restrictions.