Studio City International Holdings Stock Price, News & Analysis

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.

Studio City International Holdings Limited (NYSE: MSC) will release its unaudited financial results for Q2 2021 on July 27, 2021. The company operates a premier integrated resort in Cotai, Macau, and is backed by major shareholder Melco Resorts & Entertainment. The press release includes a safe harbor statement, addressing forward-looking statements and inherent risks such as the ongoing impact of COVID-19 and economic conditions that could affect its business and financial performance.

Studio City Finance has announced the pricing of its 5.000% senior notes due 2029, totaling US$350 million. The notes were priced at 101.50% of the principal amount, with proceeds aimed at funding capital expenditures for the remaining project at Studio City and general corporate purposes. These notes will rank equally with existing senior debts and will consolidate with previously issued 750 million Original Notes. The offering targets qualified institutional buyers in compliance with the Securities Act and will not be registered under it.

Studio City Finance has announced a proposed international offering of 5.000% senior notes due in 2029, aiming to raise funds for capital expenditures and general corporate purposes. This offering follows a previous issuance of US$750 million in senior notes under the same indenture. The new notes will be offered to qualified institutional buyers in the U.S. and abroad, though they will not be registered under the Securities Act. The success of this offering is contingent upon market conditions and investor interest.

Studio City International Holdings Limited (NYSE: MSC) reported Q1 2021 total operating revenues of US$28.6 million, down from US$37.1 million in Q1 2020, largely due to the COVID-19 pandemic impacting tourism. Gaming revenues fell significantly, with gross gaming revenues at US$98.5 million versus US$146.7 million the previous year. The operating loss was US$45.1 million, an improvement from US$63.4 million. Net loss attributable to the company increased to US$75.8 million. Cash and bank balances stood at US$543.5 million, while total debt rose to US$1.73 billion.