Studio City International Holdings Limited reports developments tied to its integrated resort in Cotai, Macau, including Studio City Casino, hotel, food and beverage, retail and entertainment amenities. News commonly covers unaudited earnings, mass market table games and gaming machine activity, revenue from casino contract, Adjusted EBITDA and non-gaming revenue trends.
Company updates also include annual report filings, earnings-release schedules and capital-markets activity at Studio City Company Limited, a wholly owned subsidiary. Recurring debt items include senior secured notes offerings, tender offers and redemption-related announcements for subsidiary notes.
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.
Studio City International Holdings Limited (NYSE: MSC) will release its unaudited financial results for Q1 2021 on Form 6-K with the SEC on April 28, 2021. The company, known for its integrated resort in Cotai, Macau, indicates that the earnings report will be significant for investors. A safe harbor statement reminds stakeholders that forward-looking statements are subject to various risks, including the ongoing impact of COVID-19, market conditions, and regulatory approvals. The company is supported by its largest shareholder, Melco Resorts & Entertainment.
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.