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Melco Resorts & Entertainment Limited American Depositary Shares - MLCO STOCK NEWS

Welcome to our dedicated page for Melco Resorts & Entertainment American Depositary Shares news (Ticker: MLCO), a resource for investors and traders seeking the latest updates and insights on Melco Resorts & Entertainment American Depositary Shares stock.

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.

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Melco Resorts & Entertainment has achieved the prestigious RG Check accreditation, making it the first integrated resort operator in Macau and the Philippines to do so. This certification, developed by the Responsible Gambling Council, signifies compliance with rigorous responsible gaming standards for all its resorts, including Altira Macau, City of Dreams Macau, Studio City, and City of Dreams Manila. The accreditation is valid for three years and reflects Melco's commitment to responsible gaming practices as stated by CEO Mr. Lawrence Ho.

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City of Dreams Mediterranean, the largest integrated resort in Europe, is on track for a Summer 2022 opening. Construction is progressing smoothly, showcased in a new aerial video. Upon completion, it will feature over 500 luxury rooms, extensive MICE space, an amphitheater, and various dining and retail options, all designed to Melco's luxury standards with Mediterranean influences. The project aims to attract an additional 300,000 visitors per year and create thousands of jobs, significantly impacting Cyprus' economy and tourism landscape.

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The gaming industry is rapidly evolving with esports gaining traction, especially during global lockdowns. Companies like Luckbox, Golden Nugget Gaming (GNOG), Rush Street Interactive (RSI), and Melco Resorts (MLCO) are capitalizing on this trend. Luckbox saw a 500% increase in new customers on its esports betting platform in 2020. The company allocated CAD$2 million for user acquisition around major events like the IEM Katowice tournament. Meanwhile, Golden Nugget reported a 63% revenue increase in 2020, highlighting potential for growth in online gaming.

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Melco Resorts (MLCO) reported unaudited financial results for Q4 2020, showing total operating revenues of $0.53 billion, down 64% from $1.45 billion in Q4 2019. The operating loss for Q4 was $144.8 million compared to a profit of $173.4 million last year. The net loss attributable to MLCO was $199.7 million, or $0.42 per ADS. Total revenue for 2020 was $1.73 billion, a significant decline from $5.74 billion in 2019. The challenging environment was primarily due to the COVID-19 pandemic, affecting tourism and gaming operations across all properties.

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Melco Resorts & Entertainment Limited (Nasdaq: MLCO) is set to release its unaudited financial results for Q4 and full year 2020 on February 25, 2021. This announcement will be followed by a conference call at 8:30 a.m. Eastern Time, allowing investors to discuss the financial performance. The company operates integrated resorts in Asia and Europe, including in Macau and Europe. As a developer and operator, Melco is also working on the City of Dreams Mediterranean in Cyprus, which is anticipated to be a significant addition to its portfolio.

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Melco Resorts & Entertainment has received recognition from Forbes Travel Guide with a total of 97 Stars, including 17 Five-Star awards, across its integrated resort properties in Macau and Manila. Notably, Altira Macau has achieved the prestigious Five-Star award for 12 consecutive years. This accolade underscores Melco's commitment to excellence in hospitality. In addition, key properties such as Morpheus and Studio City also earned high standings, reflecting the company's dedication to delivering premier experiences. The group's extensive health and safety certifications further bolster its reputation.

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Melco Resorts & Entertainment has announced its Studio City Phase 2 expansion has been shortlisted for the BREEAM Awards 2021 'Regional Award, Asia.' This recognition underscores the project's sustainability strategies, aiding Melco's goals towards carbon neutrality and zero waste. The expansion will feature approximately 900 rooms and various attractions, including one of the world's largest water parks. Emphasis is placed on minimizing ecological impact, engaging ecologists for habitat preservation, and adhering to sustainable procurement practices.

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On January 27, 2021, Melco Resorts & Entertainment received seven Michelin stars for its restaurants in Macau, as recognized by the Michelin Guide Hong Kong Macau 2021. Among them, Jade Dragon earned 3 stars, while Alain Ducasse at Morpheus received 2 stars for the third consecutive year. Pearl Dragon and Ying were awarded 1 star each. The accolades highlight the company's commitment to high-quality dining experiences and enhance its brand recognition in the competitive hospitality market.

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Melco Resorts Finance has priced its international offering of US$250 million in 5.375% senior notes due 2029 at 103.25% of the principal amount. Proceeds will repay a revolving credit facility and for general corporate purposes. These Additional Notes will consolidate with the existing US$900 million senior notes issued in December 2019. The offering is aimed at qualified institutional buyers under U.S. securities regulations and will not be registered under the Securities Act. Melco Resorts Finance remains focused on managing its debt obligations amidst ongoing economic uncertainties.

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FAQ

What is the current stock price of Melco Resorts & Entertainment American Depositary Shares (MLCO)?

The current stock price of Melco Resorts & Entertainment American Depositary Shares (MLCO) is $6.15 as of December 20, 2024.

What is the market cap of Melco Resorts & Entertainment American Depositary Shares (MLCO)?

The market cap of Melco Resorts & Entertainment American Depositary Shares (MLCO) is approximately 2.6B.

What does Melco Resorts & Entertainment Limited specialize in?

Melco specializes in the development, ownership, and operation of casino gaming and entertainment resort facilities in Asia and Europe.

Where is Melco Resorts & Entertainment Limited based?

Melco is based in Macau, where it operates several flagship properties, including City of Dreams Macau, Altira Macau, and Mocha Clubs.

What are some of the notable properties operated by Melco in Macau?

Notable properties include City of Dreams Macau, Altira Macau, Mocha Clubs, and Studio City, a Hollywood-themed resort.

Does Melco have operations outside Macau?

Yes, Melco operates City of Dreams Manila in the Philippines and City of Dreams Mediterranean in Cyprus.

How significant is Melco's presence in the Macau gaming industry?

Melco is one of only six licensed casino operators in Macau, demonstrating its significant role in the region's gaming and entertainment sector.

What percentage of Melco's adjusted EBITDA comes from Macau?

As of 2019, about 84% of Melco's adjusted EBITDA originated from Macau.

What are the main entertainment attractions at City of Dreams Macau?

City of Dreams Macau features 'The House of Dancing Water,' the world's largest water-based performance.

When did Studio City in Macau open?

Studio City opened in October 2015.

What sets Melco apart from its competitors?

Melco is known for its luxurious products, innovative entertainment offerings, and strategic global expansion.

How can I get more information about Melco's financial performance?

Visit Melco's official website or contact their investor relations team for the latest financial reports and updates.

Melco Resorts & Entertainment Limited American Depositary Shares

Nasdaq:MLCO

MLCO Rankings

MLCO Stock Data

2.60B
419.71M
39.17%
2.64%
Resorts & Casinos
Consumer Cyclical
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