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Melco Resorts & Entertainment Limited (NASDAQ: MLCO) is a distinguished developer, owner, and operator of casino gaming and entertainment resort facilities across Asia and Europe. The company has garnered numerous awards for its high-quality offerings and innovative approach to entertainment.
In Macau, Melco operates several prestigious properties:
- City of Dreams Macau: A flagship integrated entertainment resort, featuring the world-renowned show “The House of Dancing Water,” the largest water-based performance globally.
- Altira Macau: A Forbes Five-Star luxury hotel providing premium services to its guests.
- Mocha Clubs: The largest non-casino based electronic gaming operations in Macau.
- Studio City: Opened in 2015, this Hollywood-themed resort offers a unique cinematic entertainment experience with a diverse range of world-class amenities.
Outside Macau, Melco showcases its global footprint:
- City of Dreams Manila: A luxury resort in the Philippines, catering to both premium and mass-market guests.
- City of Dreams Mediterranean: Located in Cyprus, this resort is a testament to Melco’s commitment to expanding its reach and delivering exceptional experiences worldwide.
Melco stands as one of the six licensed casino operators in Macau, emphasizing its significant role in the region's gaming and entertainment industry. The company’s business mix, as of 2019, highlighted that about 84% of its adjusted EBITDA originated from Macau, with the remaining largely from its operations in the Philippines.
Recent years have seen Melco continue to expand and innovate despite global economic challenges. The company remains resilient and proactive, with a focus on sustainable growth and long-term value for shareholders. Melco’s partnerships, luxurious products, and strategic projects set it apart in the competitive landscape.
For the latest updates, financial reports, and news, visit their official website or contact the investor relations and media teams.
Melco Resorts has successfully reduced plate waste in employee dining areas by up to 35% through a partnership with Winnow and the London School of Economics. Utilizing the Winnow Vision AI system, Melco identified plate waste as a major source of food waste and implemented targeted behavioral interventions. The Winnow Sense technology, which measures food waste, was installed in employee dining rooms, leading to sustainable changes in food consumption behaviors among staff. The project showcases a significant step in addressing food waste challenges in Macau.
Melco Resorts & Entertainment Limited (Nasdaq: MLCO) reported a significant revenue increase of approximately 222% to US$566.4 million in Q2 2021, up from US$175.9 million in Q2 2020. The operating loss shrank to US$128.1 million compared to US$370.8 million a year earlier. Adjusted Property EBITDA totaled US$79.1 million, versus a negative US$156.3 million in Q2 2020. The net loss was US$185.7 million, or US$0.39 per ADS, improving from a net loss of US$368.1 million, or US$0.77 per ADS, in the same quarter last year. The company remains optimistic about the Macau market recovery amid COVID-19 challenges.
Melco Resorts & Entertainment Limited (Nasdaq: MLCO) will release its second quarter 2021 financial results on July 27, 2021, followed by a conference call at 8:30 a.m. ET. Interested parties can join via US toll-free number 1 844 760 0770 or internationally at 1 347 549 4094. The release includes forward-looking statements regarding the company's business and financial condition, highlighting risks such as the COVID-19 pandemic and gaming market recovery in Macau, the Philippines, and Cyprus. The audio webcast will be available on the company's website.
Melco Resorts & Entertainment Limited (MLCO) has launched a Share Purchase and Award Program to appreciate employees who participated in the voluntary leave scheme during the COVID-19 pandemic. The program runs from July 2021 to June 2022, allowing eligible employees to use part of their salary to buy restricted shares valued at 200% of the salary used. This initiative represents less than 0.50% of the company's total shares outstanding and aims to strengthen employee commitment as the company rebounds from pandemic challenges.
Melco Resorts & Entertainment has announced a significant three-year investment in Macau, launching Asia's first series of residency shows featuring popular artists like Aaron Kwok, Joey Yung, and Leon Lai. This project will see a total of 90 exclusive performances at Studio City from 2021 to 2024, marking a crucial step in diversifying Macau's entertainment landscape. The initiative aims to enhance the city's appeal and drive tourism, underlining Melco’s commitment to delivering world-class entertainment.
Melco Resorts & Entertainment has allocated nearly MOP 16 million for its "Get the Jab" vaccination incentive program aimed at encouraging employees to get vaccinated against COVID-19. Each fully vaccinated employee will receive MOP 1,000, with additional lottery prizes of MOP 1 million for six employees if immunity targets are met. The initiative includes educational seminars, transportation for vaccination, and two paid leave days for vaccinations. The hotel and resort company aims to ensure safety for employees, guests, and the community.
Melco Resorts & Entertainment Limited (Nasdaq: MLCO) reported its Q1 2021 financial results, showing total operating revenues of US$0.52 billion, a 36% decline from US$0.81 billion in Q1 2020. The company faced an operating loss of US$162.8 million, compared to US$149.9 million in the prior year. Adjusted Property EBITDA was US$30.1 million, down from US$75.3 million. The net loss attributable to Melco was US$232.9 million, or US$0.49 per ADS, an improvement from US$364.0 million in Q1 2020. Recovery in business levels is noted amidst ongoing COVID-19 challenges.
Melco Resorts & Entertainment Limited (MLCO) announced it will release its first quarter 2021 unaudited financial results on April 28, 2021. This will be followed by a conference call at 8:30 a.m. Eastern Time. Investors can join via multiple toll-free numbers across different regions. An audio webcast will also be available. The company emphasizes the importance of the upcoming results amid ongoing challenges posed by the COVID-19 pandemic. Forward-looking statements in the release note potential impacts from global market conditions and regulatory approvals.
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