Melco Resorts & Entertainment is the worst-performing amongst Macau’s gaming stocks year-to-date and a merger, either with parent Melco International Development or its Studio City unit would unlock value for shareholders, Bernstein said.
Melco International Development Limited posted a net revenue increase of 9.7% to HK$8.43 billion for 1H21 based on gradual business recovery, particularly of the gaming mass market.
Melco Resorts & Entertainment said it has teamed with Marriott International to bring a W Hotel to the second phase of Studio City's development, which is scheduled to open in December next year.
Felix Ng -
Melco Resorts’ 1Q22 adjusted EBITDA fell short of analyst expectations, as Covid-19 travel restrictions continued to impact operational and financial performance of the company.
Melco Resorts & Entertainment and Studio City International were added to a provisional list of 12 Chinese companies at risk of delisting in the U.S. due to non-compliance with the Holding Foreign Companies Accountable Act (HFCAA).
Melco Resorts & Entertainment CEO Lawrence Ho has been granted restricted shares worth $15.2 million as part of the company’s employee incentive plan.
Melco International Development said it was replacing its previously granted share options as the collapse in the group's share options means that the previous awards were not longer able to act as an incentive.
Melco Resorts & Entertainment’s U.S. listing may be at risk due to rules on the auditing of foreign companies, although there is no immediate cause for concern and possible solutions may create shareholder value, Bernstein said.
Melco Resorts & Entertainment hosted the Adopt a Micro-Enterprise Certificate Awarding Ceremony at Studio City on December 29, 2021. Six selected micro-enterprises received their certificates at the event following the successful completion of the six-month program comprising tailored experience tours and workshops.