Melco International Development

Melco Announces Unaudited First Quarter 2023 Earnings

Retrieved on: 
Wednesday, May 10, 2023
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Melco generated Adjusted Property EBITDA(1) of US$190.8 million in the first quarter of 2023, compared with Adjusted Property EBITDA of US$56.0 million in the first quarter of 2022.

Key Points: 
  • Melco generated Adjusted Property EBITDA(1) of US$190.8 million in the first quarter of 2023, compared with Adjusted Property EBITDA of US$56.0 million in the first quarter of 2022.
  • Adjusted Property EBITDA at City of Dreams Manila for the first quarter of 2023 surpassed that of the first quarter of 2019.
  • Rolling chip volume was US$4.04 billion for the first quarter of 2023 versus US$2.45 billion in the first quarter of 2022.
  • The rolling chip win rate was 2.41% in the first quarter of 2023 versus 3.93% in the first quarter of 2022.

Melco Announces Privately-Negotiated Share Repurchase

Retrieved on: 
Wednesday, March 8, 2023
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MACAU, March 08, 2023 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (the “Company”), a developer, owner and operator of integrated resort facilities in Asia and Europe, today announces that it has entered into a share repurchase agreement with Melco International Development Limited (“MIDL”) and Melco Leisure and Entertainment Group Limited (“Melco Leisure”), a wholly-owned subsidiary of MIDL, pursuant to which the Company will repurchase 40,373,076 of the Company’s ordinary shares from Melco Leisure (the “Transaction”).

Key Points: 
  • MACAU, March 08, 2023 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (the “Company”), a developer, owner and operator of integrated resort facilities in Asia and Europe, today announces that it has entered into a share repurchase agreement with Melco International Development Limited (“MIDL”) and Melco Leisure and Entertainment Group Limited (“Melco Leisure”), a wholly-owned subsidiary of MIDL, pursuant to which the Company will repurchase 40,373,076 of the Company’s ordinary shares from Melco Leisure (the “Transaction”).
  • The aggregate purchase price is US$169,836,073.04, which represents a per share price of approximately US$4.2067 (equivalent to US$12.62 per American depositary share of the Company, each representing three ordinary shares).
  • In addition to the privately-negotiated Transaction, the Company’s previously announced US$500 million share repurchase program remains in effect, of which approximately US$412 million remains available for future repurchases under the program.
  • Entry into the share repurchase agreement in respect of the Transaction was unanimously approved by the disinterested members of the Audit and Risk Committee of the Company.

Melco Announces Further Details of Gaming Concession

Retrieved on: 
Sunday, December 18, 2022
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The Macau SAR government has allocated 750 gaming tables and 2,100 electronic gaming machines for operation by the Concessionaire during the Concession.

Key Points: 
  • The Macau SAR government has allocated 750 gaming tables and 2,100 electronic gaming machines for operation by the Concessionaire during the Concession.
  • Under the Concession, Melco Resorts Macau will pay an annual premium to the Macau SAR of MOP30,000,000 (equivalent to approximately US$3,741,000) plus a variable amount calculated in accordance with the number of gaming tables and electronic gaming machines operated by Melco Resorts Macau.
  • The Concession provides for the payment of special gaming tax on gross gaming revenue.
  • The Company enthusiastically welcomes the grant of the Concession to Melco Resorts Macau, which will enable Melco Resorts Macau to continue its core gaming and entertainment business in the Macau SAR for the next decade.

Melco Announces Provisional Award of Gaming Concession

Retrieved on: 
Saturday, November 26, 2022
Melco International Development, City, Republic, Securities and Exchange Commission (Philippines), Communications and Entertainment Limited, Annual report, Stock exchange, Coronavirus, Motherboard, Melco, Casino, Entertainment City

MACAU, Nov. 26, 2022 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (Melco or the Company), a developer, owner and operator of integrated resort facilities in Asia and Europe, today announces that the Macau government has provisionally awarded a ten-year concession to operate games of fortune and chance in casinos in Macau to Melco Resorts (Macau) Limited, a subsidiary of the Company.

Key Points: 
  • MACAU, Nov. 26, 2022 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (Melco or the Company), a developer, owner and operator of integrated resort facilities in Asia and Europe, today announces that the Macau government has provisionally awarded a ten-year concession to operate games of fortune and chance in casinos in Macau to Melco Resorts (Macau) Limited, a subsidiary of the Company.
  • The final award of such concession, and the terms and conditions of the concession contract, remain subject to the determination of the Macau government.
  • Mr. Lawrence Ho, Chairman and Chief Executive Officer of Melco commented, We are honored to have been selected and granted a provisional award for the concession to operate gaming in Macau and would like to thank the Macau government for running a smooth and transparent process.
  • Its business also includes the Mocha Clubs ( www.mochaclubs.com ), which comprise the largest non-casino based operations of electronic gaming machines in Macau.

Melco Announces Earnings Release Date

Retrieved on: 
Thursday, October 27, 2022
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Upon registering, each participant will receive the dial-in numbers and a unique Personal PIN which can be used to join the conference.

Key Points: 
  • Upon registering, each participant will receive the dial-in numbers and a unique Personal PIN which can be used to join the conference.
  • This press release contains forward-looking statements.
  • All information provided in this press release is as of the date of this press release, and the Company undertakes no duty to update such information, except as required under applicable law.
  • Its business also includes the Mocha Clubs ( www.mochaclubs.com ), which comprise the largest non-casino based operations of electronic gaming machines in Macau.

Melco Announces Submission of Tender Proposal for Gaming Concession

Retrieved on: 
Wednesday, September 14, 2022
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Mr. Lawrence Ho, Chairman and Chief Executive Officer commented, I would like to thank the Macau government for this opportunity.

Key Points: 
  • Mr. Lawrence Ho, Chairman and Chief Executive Officer commented, I would like to thank the Macau government for this opportunity.
  • Our proposal reinforces our commitment to Macau and the further diversification of its economy.
  • We look forward to playing a leadership role in partnering with the Macau government to execute on the governments vision.
  • Its business also includes the Mocha Clubs ( www.mochaclubs.com ), which comprise the largest non-casino based operations of electronic gaming machines in Macau.

Melco’s internally designed Morpheus-branded service program awarded by prestigious global accolade “ATD Excellence in Practice Awards 2022”

Retrieved on: 
Tuesday, September 6, 2022
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Melcos training program Morpheus Moments Whatever It Takes, Whenever, However has been granted the top 2022 Excellence in Practice Award by ATD in the Customer Service Training category.

Key Points: 
  • Melcos training program Morpheus Moments Whatever It Takes, Whenever, However has been granted the top 2022 Excellence in Practice Award by ATD in the Customer Service Training category.
  • The Morpheus Moments Whatever It Takes, Whenever, However program has been custom designed in-house to align with the excellence and service promise of the Morpheus brand.
  • Melco service training programs are custom designed to align with the property consumer brand as the Companys brand promise is delivered through its people.
  • This years ATD Excellence in Practice Awards winners were selected from more than 140 entries in 13 categories.

Melco Announces Earnings Release Date

Retrieved on: 
Tuesday, August 16, 2022
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Upon registering, each participant will receive the dial-in numbers and a unique Personal PIN which can be used to join the conference.

Key Points: 
  • Upon registering, each participant will receive the dial-in numbers and a unique Personal PIN which can be used to join the conference.
  • This press release contains forward-looking statements.
  • All information provided in this press release is as of the date of this press release, and the Company undertakes no duty to update such information, except as required under applicable law.
  • Its business also includes the Mocha Clubs ( www.mochaclubs.com ), which comprise the largest non-casino based operations of electronic gaming machines in Macau.

Melco Announces Extension of Macau Gaming Subconcession to December 31, 2022

Retrieved on: 
Thursday, June 23, 2022
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MACAU, June 23, 2022 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment Limited (Nasdaq: MLCO), a developer, owner and operator of integrated resort facilities in Asia and Europe, today announces that on June 23, 2022, Melco Resorts (Macau) Limited (Melco Resorts Macau), a subsidiary of the Company, and Wynn Resorts (Macau) Limited (Wynn Resorts Macau) entered into an Amendment Agreement to the Subconcession Contract pursuant to which the gaming subconcession of Melco Resorts Macau, which is due to expire on June 26, 2022, was extended to December 31, 2022 (the "Extension Agreement"), which coincides with the extended expiration date of all the other concessions and subconcessions.

Key Points: 
  • MACAU, June 23, 2022 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment Limited (Nasdaq: MLCO), a developer, owner and operator of integrated resort facilities in Asia and Europe, today announces that on June 23, 2022, Melco Resorts (Macau) Limited (Melco Resorts Macau), a subsidiary of the Company, and Wynn Resorts (Macau) Limited (Wynn Resorts Macau) entered into an Amendment Agreement to the Subconcession Contract pursuant to which the gaming subconcession of Melco Resorts Macau, which is due to expire on June 26, 2022, was extended to December 31, 2022 (the "Extension Agreement"), which coincides with the extended expiration date of all the other concessions and subconcessions.
  • Melco Resorts Macau will pay the Macau government MOP47 million (equivalent to approximately US$5.8 million) upon signing of the Extension Agreement as premium for such extension.
  • The Macau government may require an increase in the amount of such guarantee, depending on the actual number of employees employed by Melco Resorts Macau.
  • Melco Resorts Macau and Studio City Entertainment Limited have also amended the agreement under which Melco Resorts Macau operates the Studio City Casino to align such agreement with the newly enacted amendments to the gaming law in Macau.

Melco releases its 2021 Sustainability Report ‘RISE to go Above & Beyond’

Retrieved on: 
Tuesday, May 24, 2022
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MACAU, May 24, 2022 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment has published its fourth sustainability strategy RISE to go Above & Beyond ( link ).

Key Points: 
  • MACAU, May 24, 2022 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment has published its fourth sustainability strategy RISE to go Above & Beyond ( link ).
  • Mr. Lawrence Ho, Chairman and CEO of Melco Resorts and Entertainment, said, Melco has continued to rise beyond continuing pandemic challenges and in ways that have indeed accelerated our sustainability efforts in 2021.
  • Initiatives and achievements highlighted in RISE to go Above & Beyond include:
    Keeping colleagues and communities safe, healthy and supported remained central to Melcos operations.
  • Additionally, in 2021, Melco sourced 92% of all chemicals in the Green and Amber categories, progressing in advance of its 2025 target.