MACAU, March 14, 2024 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment has been honored by MICHELIN Guide Hong Kong & Macau 2024 with a collective total of eight MICHELIN stars across five restaurants located in its properties including City of Dreams, Studio City and Altira Macau. The result establishes Melco as Macau's leader with the highest number of MICHELIN-stars achieved across its properties. City of Dreams' Cantonese fine dining restaurant Jade Dragon maintains its top-tier Three MICHELIN-Star st ...

Melco Resorts (MLCO) reported $1.09 billion in revenue for the quarter ended December 2023, representing a year-over-year increase of 224.4%. EPS of $0.13 for the same period compares to -$0.51 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.09 billion, representing a surprise of +0.64%. The company delivered an EPS surprise of +333.33%, with the consensus EPS estimate being $0.03.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings ...

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Q4 2023 Earnings Conference Call February 29, 2024 8:30 AM ET Company Participants Jeanny Kim - SVP, Group Treasurer Lawrence Ho - Chairman & CEO Geoff Davis - EVP & CFO Evan Winkler - President Conference Call Participants George Choi - Citi Ricardo Chinchilla - Deutsche Bank John DeCree - CBRE Karl Choi - Bank of America Joe Greff - JPMorgan Operator Ladies and gentlemen, thank you for participating in the Fourth Quarter 2023 Earnings Conference Call of ...

Melco Resorts (MLCO) came out with quarterly earnings of $0.13 per share, beating the Zacks Consensus Estimate of $0.03 per share. This compares to loss of $0.51 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 333.33%. A quarter ago, it was expected that this casino company would post earnings of $0.02 per share when it actually produced a loss of $0.03, delivering a surprise of -250%.Over the last four quarters, the company h ...

MACAU, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Studio City International Holdings Limited (NYSE:MSC) ("Studio City" or the "Company"), a world-class integrated resort located in Cotai, Macau, today reported its unaudited financial results for the fourth quarter and full year ended December 31, 2023. Total operating revenues for the fourth quarter of 2023 were US$141.3 million, compared with total operating revenues of US$4.2 million in the fourth quarter of 2022. The change was primarily attributable to the relax ...

MACAU, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Studio City International Holdings Limited (NYSE:MSC), a world-class integrated resort located in Cotai, Macau, today announces that it will release its unaudited financial results for the fourth quarter and year ended December 31, 2023 on Thursday, February 29, 2024. Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. ...

MACAU, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment Limited (Nasdaq: MLCO), a developer, owner and operator of integrated resort facilities in Asia and Europe, today announces that it will release its unaudited financial results for the fourth quarter and year ended December 31, 2023 on Thursday, February 29, 2024 to be followed by a conference call on the same day at 8:30 a.m. Eastern Time (or 9:30 p.m. Singapore Time). To join the conference call, please register in advance using the be ...

MACAU, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment's various hotels, restaurants and spas across its portfolio in Asia have been honored by 2024 Forbes Travel Guide (FTG), with the Company continuing its lead among integrated resorts in Asia with the greatest number of stars achieved. The renowned FTG star rating service and online travel guide bestowed Melco a total of 16 Five-Star awards across the Company's properties which include City of Dreams, Studio City, Altira Macau and City of ...

Financial Data and Key Metrics Changes - Group-wide adjusted property EBITDA for Q3 2023 was approximately $281 million, with luck-adjusted EBITDA at $291 million, reflecting a favorable win rate impact of around $9 million in City of Dreams Manila and an unfavorable impact of approximately $19 million in Macau [7][8] - Macau operating expenses increased to approximately $2.5 million per day in Q3 2023 from approximately $2.4 million per day in Q2 2023, primarily due to the addition of full-time employees and increased marketing costs [7][8] - As of September 30, 2023, the company had around $1.5 billion in consolidated cash on hand, with approximately $1.2 billion drawn on its revolving credit facility [8] Business Line Data and Key Metrics Changes - Both gaming and non-gaming revenues improved, with a 65% increase in adjusted property EBITDA quarter-to-quarter driven by the opening of Phase 2 at Studio City and the addition of new hotels [5][6] - City of Dreams Manila continues to generate solid earnings with a strong margin profile, while City of Dreams Mediterranean and Cyprus have been severely impacted by the conflict in Israel [6] Market Data and Key Metrics Changes - Macau's recovery continued to strengthen in Q3 2023, with visitation and casino player hours benefiting from growth, particularly during the October Golden Week [4][5] - GGR excluding junkets reached close to 2019 levels, indicating a robust recovery in the Macau market [4] Company Strategy and Development Direction - The company is focused on reducing debt and deleveraging, having repaid $100 million in debt during Q3 2023 and another $100 million at the end of October [8] - The company aims to return money to shareholders through dividends or buybacks while maintaining a disciplined approach to debt reduction [41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing recovery in Macau, noting that travel and tourism are leading sectors in China, with strong visitation trends continuing into November [12][13] - The company anticipates that the reopening of The House of Dancing Water show will contribute positively to operating expenses and overall performance [14][42] Other Important Information - The company is experiencing a shift in the business towards a premium mass market-driven economy, leading to elevated reinvestment rates as competitors attempt to attract customers [21][26] - The company is gradually rolling out new products and amenities, with a major property relaunch for Studio City Phase 2 expected in early 2024 [31][34] Q&A Session Summary Question: How should we think about OpEx installation in Macau going forward? - Management anticipates OpEx in Macau to increase to approximately $2.6 million per day in Q4 2023, with the reopening of The House of Dancing Water expected to add about $0.1 million per day [14][15] Question: Is there any sign of moderation in gaming demand and non-gaming revenues? - Management is optimistic about the ongoing recovery in Macau, noting that October was the best month since reopening and that November has started strong [12][13] Question: Can you discuss the levels of premium mass reinvestment compared to 2019? - Management indicated that reinvestment rates have climbed slightly due to increased marketing efforts and competition, but they expect a return to more normalized levels over time [21][22] Question: What are the barriers to growth in GGR for Macau? - Management noted that the VIP market has fundamentally changed, leading to increased volatility and fewer players, which impacts quarter-to-quarter performance [47] Question: What is the timeline for the House of Dancing Water opening? - The House of Dancing Water is expected to relaunch in late Q4 2024, with preparations currently underway [42] Question: How is the promotional environment affecting reinvestment levels? - Management acknowledged that there is increased competition and promotional activity as customers explore different properties, which has contributed to higher reinvestment rates [26]

2Q’23 Results Presentation August 1, 2023 Disclaimer SafeHarborStatement This presentation contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation ReformAct of 1995. The Company may alsomake forward-looking statementsin itsperiodic reportstothe U.S. Securitiesand Exchange Commission(the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, dir ...