Studio City International Holdings Stock Price, News & Analysis

Studio City International Holdings Limited (NYSE: MSC) announced the filing of its annual report on Form 20-F for the fiscal year ending December 31, 2020. This report is available on the Company's investor relations website. Studio City offers a hard copy of its audited consolidated financial statements free of charge to shareholders and ADS holders upon request. The report includes forward-looking statements addressing potential risks, including the ongoing global pandemic and market volatility. For further details, visit the Company’s official site.

Studio City International Holdings Limited (NYSE: MSC) reported its Q4 2020 financial results, revealing a significant drop in operating revenues to US$23.7 million, down from US$167.8 million in Q4 2019. The decline was attributed to decreased gaming and non-gaming revenues, primarily due to the COVID-19 pandemic. The company posted an operating loss of US$51.3 million and a net loss of US$61.5 million, compared to net income of US$20.8 million in the previous year. For the full year 2020, total operating revenues were US$49.2 million, sharply lower than US$626.7 million in 2019.

Studio City International Holdings Limited (NYSE: MSC) will release its unaudited financial results for Q4 and year-end December 31, 2020, on February 25, 2021. This announcement follows the company’s strategic positioning as a key player in the integrated resort sector located in Cotai, Macau.

In addition, the company highlights risks related to COVID-19 and economic conditions affecting performance, along with forward-looking statements about its growth strategies and market conditions.

Studio City Finance Limited has priced its international offering of senior notes due 2029, amounting to US$750 million with a 5.00% interest rate. The net proceeds will fund a conditional cash tender offer for its outstanding 7.250% senior notes due 2024, alongside covering associated fees and supporting capital expenditures. The New Notes rank equally with existing senior indebtedness and are not guaranteed by Studio City International Holdings. The offering complies with U.S. Securities Act regulations for both domestic and international sales.

Studio City Finance Limited plans an international offering of senior notes, known as the New Notes, as it seeks to improve its financial structure. These notes will be general obligations ranked equally with other senior debts but will not be guaranteed by Studio City International Holdings. Additionally, a conditional cash tender offer for all outstanding 7.250% senior notes due 2024 is underway, contingent upon financing conditions. The offering's proceeds will be used to fund the tender offer and other corporate expenditures. The completion of the offering is subject to market conditions.

Studio City International Holdings Limited (NYSE: MSC) reported Q3 2020 operating revenues of US$0.9 million, a sharp decline from US$158.1 million in Q3 2019, primarily due to the impact of COVID-19 on tourism.

Studio City Casino's gross gaming revenues fell to US$23.4 million from US$345.6 million year-over-year. The company incurred an operating loss of US$72.5 million and a net loss of US$98.2 million, compared to a net income of US$14.3 million in Q3 2019. Total debt increased to US$1.58 billion as of September 30, 2020.

Studio City International Holdings Limited (NYSE: MSC) will release its unaudited financial results for Q3 2020 on Form 6-K with the SEC on November 5, 2020. The company highlights potential risks affecting its business, including the global pandemic, economic conditions, and gaming market dynamics in Macau. These forward-looking statements may involve uncertainties that could significantly impact actual results.

Studio City International Holdings Limited (NYSE: MSC) announced its Q2 2020 financial results, reporting a total operating revenue loss of US$12.5 million, compared to US$149.7 million in Q2 2019. The decline is attributed to decreased gaming and non-gaming revenues due to COVID-19, with gross gaming revenues falling to US$6.7 million from US$361.8 million. The company posted an operating loss of US$92.7 million and a net loss of US$91.0 million. As of June 30, 2020, total cash was US$202.9 million, down from US$327.2 million at the end of 2019.

Studio City International Holdings Limited (NYSE: MSC) will release its unaudited financial results for Q2 2020 on Form 6-K to the SEC on August 20, 2020. This announcement comes amid ongoing challenges in the gaming market due to economic conditions and visitor trends in Macau. The press release emphasizes the company's commitment to transparency and acknowledges the inherent risks and uncertainties of forward-looking statements regarding future business operations and growth strategies.