Melco Resorts & Entertainment Limited is a developer, owner and operator of casino gaming and entertainment casino resort facilities in Asia. The Company currently operates Altira Macau (www.altiramacau.com), a casino hotel located at Taipa, Macau and City of Dreams (www.cityofdreamsmacau.com), an integrated urban casino resort located in Cotai, Macau. Its business also includes the Mocha Clubs (www.mochaclubs.com), which comprise the largest non-casino based operations of electronic gaming machines in Macau. The Company also majority owns and operates Studio City (www.studiocity-macau.com), a cinematically-themed integrated entertainment, retail and gaming resort in Cotai, Macau. In the Philippines, a Philippine subsidiary of the Company currently operates and manages City of Dreams Manila (www.cityofdreams.com.ph), a casino, hotel, retail and entertainment integrated resort in the Entertainment City complex in Manila. The Company is strongly supported by its single largest shareholder, Melco International Development Limited, a company listed on the Main Board of The Stock Exchange of Hong Kong Limited and is substantially owned and led by Mr. Lawrence Ho, who is the Chairman, Executive Director and Chief Executive Officer of the Company.
Denise Chen is the chief sustainability officer at Melco Resorts & Entertainment. The group is committed to being carbon neutral and having zero waste at its resorts by 2030.
Promoted to senior vice president, property general manager of Melco's City of Dreams Mediterranean project and Cyprus Casinos in July 2020.
The last two of Macau’s operators released Q4 results on Thursday, with both returning to profit at the EBITDA-level and expressing confidence in the market recovery.
Melco Resorts & Entertainment said it had returned to positive EBITDA in Q4, although revenue was down 64 percent from the prior-year quarter.
Solaire Resort and Melco Resorts won several awards in the 2021 Forbes Travel Guide. Solaire gained its fifth consecutive Forbes Travel Guide Five Star award for its Sky Tower.
Melco Resorts & Entertainment said it had won four accolades for its energy conservation efforts at by Macau Energy Saving Activity 2020.
Melco Resorts & Entertainment's Studio City Phase 2 has been shortlisted for a BREEAM award, an international prize recognizing excellence in sustainable building design. The resort is in the category Regional Award Asia.
The Michelin Guide for 2021 has awarded 18 stars collectively to restaurants in Macau's integrated resorts, down two from the prior year. Melco Resorts & Entertainment accounted for 7 of the total.
Operators in Entertainment City had already begun to complain about the impact of rising competition on their margins even prior to the Covid-19 crisis.
In a series of announcements in recent days, all six Macau operators have now announced staff bonuses to most of their employees, generally equivalent to one month of extra pay.
MGM China and Melco Resorts & Entertainment have announced they will pay a bonus equivalent to one-month's salary to all eligible non-management employees.
Earlier this year, Frederic Winckler, an Exec VP/Chief Marketing & Brand Officer at Melco Resorts & Entertainment talked about sustainability as one of three key focuses for the integrated resort operator over the coming years.
The New Year has brought little reprieve to Macau’s gaming operators, with analysts scaling back their expectations for the first half of 2021 amidst new outbreaks of Covid-19 across the region.
Melco Resorts & Entertainment's earnings outlook for 2021 remains sluggish due to the ongoing pandemic and movement restrictions, while its corporate debt is rising due to expansion plans, Moody's Investor Services says.
Melco Resorts Finance Limited has announced that it has priced its international offering of 5.375 percent senior notes due 2029.
Frederic Jean-Marie Winckler, executive vice president and chief creative and brand officer of Melco Resorts & Entertainment, talks with Michael Penn, executive editor of AGB Nippon, about the future of the luxury market in Macau and beyond. Among the topics addressed are the growing importance of digitization and the direction of luxury trends within the premium mass segment.
Studio City's gross gambling revenue in October and November was up about 146 percent compared with the third quarter and parent company Studio City Finance says it sees breakeven on an adjusted EBITDA level on reaching between 30 and 35 percent of historical GGR run rates.
Melco Resorts & Entertainment said Morpheus at City of Dreams, Star Tower at Studio City, Altira Macau and Nüwa at City of Dreams Manila have become among the first hotels and resorts in the world to achieve the Sharecare Health Security VERIFIED with Forbes Travel Guide certification.
As part of Melco Resorts & Entertainment’s commitment to eliminate single-use plastic (SUP) and its Zero Waste Resorts goal by 2030, the company has installed the Nordaq 2000 Refilling System at Morpheus at City of Dreams, with further plans to implement the system across its entire property portfolio in Macau, including hotels at City of Dreams, Studio City and Altira Macau in 2021.
Cyprus Casinos, the subsidiary of Melco Resorts & Entertainment, has announced that it will “temporarily suspend their operations according to the government directive” without providing further information.
Gaming operator Melco Resorts held the largest percentage of gaming revenue generated in Macau for the first three quarters of this year thanks to the performance of its City of Dreams property, according to a report by newspaper Tribuna de Macau.
Studio City International Holdings has announced Kevin Benning’s appointment as Senior Vice President, Property General Manager, Studio City, effective December 10. Benning replaces Geoffry Andres, who is being appointed as the property president of Melco Resorts and Entertainment (Philippines) Corporation.
Melco Resorts & Entertainment said it will be rolling out Winnow Vision, an Artificial Intelligence (A.I.)-powered product to tackle food waste across its properties after a six-month trial at City of Dreams Macau found it cust food waste in the employee dining area by 67 percent.
Melco Resorts & Entertainment has been given the top accolade at the 2020 Industry Community Awards - Community Award Asia. Chairman and CEO Lawrence Ho was awarded the outstanding individual award for his leadership in supporting stakeholders, colleagues and the broader community during the Covid-19 pandemic.
There have been some positive reports this week, talking about optimism over Macau’s medium-term future, led by the premium mass and mass markets.
After the vaccine-induced stock euphoria earlier this month, Covid-19 has returned to dampen investor enthusiasm.
Melco Resorts & Entertainment has indicated that its popular House of Dancing Water attraction will remain closed for the next several months and will not resume operations in January as planned. The problem relates to the departure of critical staff and performers who are foreign nationals.
Macau operators focused on the premium mass market are likely to significantly outperform in the short term, while the VIP sector may take another two years to recover, according to Bernstein Research.
Melco Resorts & Entertainment held an event calling for support to Macau's small and medium enterprises (SMEs), with over 170 companies choosing to participate.
HSBC has downgraded its Buy rating on Las Vegas Sands to a Hold and says it prefers Melco Resorts & Entertainment due to its position as a first cross-border destination and its positioning in premium mass.
Consolidation of the bases and advancement in adversity was the thrust of Macau Chief Executive’s policy address for 2021, though it gave little away when it came to the current pillar of the economy - the gaming industry.
Cyprus Casinos, a Melco subsidiary, has suspended operations at two of its five casinos until the end of the month in response to a resurgence of the Covid-19 pandemic in the local area.
If current trends hold, there will soon be a referendum in Yokohama, which will bring an end to what is currently anticipated to be the largest IR development in Japan.
Almost as soon as the world was plunged into the Covid-19 pandemic, many voices within the Asian gaming industry began talking about “recovery” and mapping exit strategies back to financial health.
Top executives of Melco Resorts & Entertainment revealed in a conference call on Thursday that their firm’s Macau operations have been reaching the breakeven point from around October.
Melco Resorts & Entertainment posted a Q3 operating loss of $275 million, compared with a profit of $175.2 million in the same period a year earlier, while revenue tumbled 85 percent.
October proved to be another disappointing month for Macau’s gross gambling revenue, despite the annual Golden Week holiday, with analysts once again cutting their estimates for the year.
Melco Resorts Finance has proposed a senior note offering to repay amount outstanding debt under a revolving credit facility and for general corporate purposes.
This pandemic has changed the lives of many Macanese and millions of others globally. In this part of the world, we have moved from controlling its proliferation to managing a potential deep economic fallout as a result of it.
Macau's six operators are expected to post a collective EBITDA loss of $823 million for Q3, improving from a loss of $1 billion in Q2, according to a Bloomberg poll of analysts.
The numbers are in and they’re not pretty. The key Golden Week holiday didn’t produce the much-anticipated shot in the arm for Macau’s gaming industry, although they did highlight some noteworthy underlying trends that may drive longer-term performance.
Melco Resorts & Entertainment says it has generated over MOP2.6 million since January for Macau's small and medium-sized enterprises through its Heart of House roadshows with colleagues.
Macau might have an important role to play in the launch of China’s digital yuan if the city’s casinos adopt the currency instead of the Hong Kong dollar, according to analysts. China is accelerating the launch of the digital yuan in the Greater Bay Area with a special pilot in Shenzhen.
Macau-related casino stocks took a hit on the news that China's legislature was reviewing an amendment to the country's criminal law that could establish a new criminal definition for overseas gambling operations aimed at luring Chinese citizens.
How does the Global Chief Information Officer & SVP of Melco Resorts & Entertainment get his inspiration to innovate? Avery Palos sits down with Asia Gaming Brief's Asia Editor, Felix Ng about how he keeps up to date with the latest technological trends - and what's in store for Melco on the tech-investment-front.
James Packer insisted on selling a 19.9 percent stake in Crown Resorts to Melco Resorts & Entertainment, while the key executive negotiating the transaction gave “little thought” as to the potential impact on its Sydney license, an inquiry heard.
Melco Resorts & Entertainment is the best-positioned stock with exposure to Macau given its focus on the premium mass segment and lower-risk status.
Melco Resorts & Entertainment CEO Lawrence Ho said his company is still committed to building a world-beating IR in Japan and is in a strong financial position, despite swinging to a loss in Q2 due to Covid-19.
Shares in Macau’s six casino operators were sharply higher Monday after the Macau government announced the long-awaited news that individual visit scheme visas would be renewed from August 12.
Melco International Resorts & Entertainment’s holding in the company that owns the Studio City Resort in Macau has edged higher following a recent share transaction.
Melco Resorts & Entertainment said the Liaison Office of the Chinese government in Macau has granted it a certificate commending its efforts to prevent Covid-19.
Melco Resorts has been able to push its average daily operating costs to around US$1.5 million, reflecting a decrease from run-rate levels in the first quarter of 2020. In an SEC filing on Tuesday, Melco said this came as a result of its implementation of a cost reduction program to minimize cash outflow and non-essential […]
Melco Resorts Finance, a subsidiary of Melco Resorts & Entertainment, is seeking to conduct an international offering of senior notes, which it says will be used to service a repayment on a revolving credit facility and for general corporate purposes. According to a filing, the new notes would be senior obligations of Melco Resorts Finance, […]
Melco Resorts & Entertainment said one of its units will take up all of its entitlement to shares in a $500 million private placement from Studio City International Holdings and will also buy up any remaining shares that are unsubscribed.
Macau’s six operators are likely to post the worst quarterly performance ever in Q2, with the focus likely to be on who has done the most to control operating expenditures during the period, Morgan Stanley reports in a note.
Melco Resorts & Entertainment has indicated that it is suspending its popular House of Dancing Water show at City of Dreams Cotai until January 2021, a move which it says is unrelated to the Covid-19 pandemic. The show’s creator and director, Franco Dragone, has been retained to organize the renewal of the program, but the […]
Morpheus at City of Dreams by Melco Resorts & Entertainment has been named ‘Best New Hotel in Macao’ by the 13th Annual TTG China Travel Awards 2020. Morpheus is the ultra-luxury, US$1.1 billion hotel at Melco’s flagship integrated resort, City of Dreams Macau. Morpheus’ latest achievement at TTG China Travel Awards comes after becoming the […]
Melco Resorts’ Cyprus casinos have reopened as of Saturday, June 13 with stringent health and safety protocols in place, according to a company announcement. The casinos to reopen all fall under the ‘C2’ brand, and includes venues in Limassol, Nicosia, Paphos, and Ayia Napa. C2 Larnaca, which was previously located in the Larnaca International Airport […]
Belle Corp said its share of gaming revenue from the City of Dreams Manila dropped 39 percent in Q1 due to Covid-19 disruptions.
Melco Resorts & Entertainment swung to a loss in Q1 due to the impact of the coronavirus, but said it remains committed to its development plans, including a bid for a license in Japan.
Melco Resorts’ Cyprus casinos will remain closed until at least mid-July, though some businesses on the Mediterranean island have been allowed to reopen, local media reports. The move is part of Cyprus president Nicos Anastasiades’ plans for a phased reopening of the island – which first allows construction projects to resume as well as retail […]
Melco Resorts & Entertainment has sold its remaining 9.9 percent stake in Crown Resorts to affiliates of the Blackstone Group for A$8.15 ($5.31) a share.
Melco Resorts & Entertainment has announced a new wave of contribution by donating 500,000 surgical masks to the Government and the local community, with 200,000 such masks being donated directly to designated operating NGOs under Social Welfare Bureau (IAS). The masks will go to help vulnerable groups in the community, such as the elderly, single […]
Melco Resorts & Entertainment has granted restricted shares worth about $19.3 million to CEO Lawrence Ho, in part to preserve its cash position during the Covid-19 crisis.
Melco Resorts & Entertainment-backed Cyprus Casinos is closing down its five properties on the Mediterranean island for a month to help prevent the spread of the coronavirus.
A public hearing into probity and licensing issues related to Crown Resorts and Melco Resorts & Entertainment has been postponed due to the Covid-19 outbreak, local media reports.
The NSW government has won a legal battle that would see Melco Resorts be forced to share nine company documents that they wanted to keep secret, claiming legal professional privilege. The documents required will be used as part of the ILGA inquiry into Mr Packer’s sale of 20 percent stake in Crown to Melco, along […]
Melco Resorts & Entertainment has been named 2019 Best First Time Performer by global non-profit environmental organization CDP, formerly known as the Carbon Disclosure Project. Melco Chairman and CEO Lawrence Ho commented, “As a new participant in this program, it’s both exciting and very rewarding to have Melco’s sustainability achievements recognized by a body as […]
Melco Resorts and Entertainment reported its 2019 fourth-quarter results on Thursday, which was driven mainly by strong performance in its mass-market segment. Total operating revenues for the fourth quarter of 2019 was US$1.45 billion, representing an increase of approximately 3 percent year-on-year – in line with analyst estimates. Net income attributable to Melco, however, fell […]
Hong Kong-listed Melco Resorts has won a battle to keep its legally privileged documents secret from public inquiry after a decision was made by an NSW court on Tuesday. The documents in question relate to a probe into Melco’s suitability into being involved in Crown’s Sydney Barangaroo, launched by the Independent Liquor and Gaming Authority. […]
The number of major hotels in Macau to suspend operations under the impact of the Wuhan Coronavirus and closure of the territory’s casinos rose to eight on Monday as Melco Resorts & Entertainment’s Altira Macau Hotel closed its doors. The Four Seasons Hotel, St. Regis Macao, Conrad Macao, Sofitel Macau at Ponte 16, the Grand […]
Melco Resorts & Entertainment said it’s dropping its plans to buy a second tranche of shares in Australia’s Crown Resorts, citing the economic impact of the Coronavirus on the region.
Melco Resorts on Wednesday announced it is working with the Government to donate HK$20 million to support initiatives for Wuhan and Hubei, in light of public health concerns associated with the new strain of coronavirus outbreak. The donation will be used to purchase medical supplies including face masks and hand sanitizers, as well as to […]
Melco Resorts has been honored by the global environmental disclosure system CDP, formerly known as the Carbon Disclosure Project, receiving an A- score in recognition of the company’s efforts in reducing carbon and climate change. Ms. Denise Chen, senior vice president, and chief sustainability officer of Melco Resorts & Entertainment, said, “We are thrilled that […]
As the inquiry before former Supreme Court Judge Paddy Bergin got underway on Tuesday, Crown Resorts faced accusations that its failure to alert authorities about the sale of shares to Melco Resorts & Entertainment before the deal was announced publicly may have constituted a breach of the terms of its New South Wales casino license. […]
Melco Resorts’ Studio City has announced it will be extending its VIP operations for another year. In a filing from Melco International Development to the Hong Kong Stock Exchange on Monday, VIP rolling chip operations will continue to be run until January 15, 2021, subject to termination by a 30-day notice. The Hollywood-themed resort opened […]
Macau casino operator Melco Resorts has announced the offering a one-month discretionary bonus for non-management employees. Mr. Lawrence Ho, Chairman and CEO of Melco Resorts & Entertainment, said, “Ahead of Chinese New Year, we are pleased to announce a discretionary bonus in recognition of our eligible non-management colleagues’ hard work, loyalty and dedication to the […]
Melco Resorts & Entertainment has been honored by the Michelin Guide Hong Kong Macau 2020 with ten Michelin stars among six signature restaurants across its properties in Macau, continuing its lead as the world’s integrated resort operator with the most Michelin-stars. Mr. Lawrence Ho, Chairman and CEO at Melco Resorts & Entertainment, said, “This is […]
In an interview with Bloomberg television, Melco Resorts & Entertainment Chairman and CEO Lawrence Ho asserted that his firm’s rising profitability at a time when the local market is being by decline represents proof that Melco’s strategy is working.
Melco Resorts & Entertainment chief executive Lawrence Ho said he expects the US-China trade war and renminbi devaluation to cause a ‘down year’ for Macau’s operators. He made the comments in an interview with CNBC over the weekend. “With the US-China trade war, with the renminbi devaluation it’s certainly having an impact on visitation into […]
Melco Resorts & Entertainment reported a 16 percent gain in Q3 revenue helped by a strong performance at City of Dreams Macau and a record performance from the mass market and slots.
Belle Corp. said revenue and profit in the nine months to September were lower due to a decrease in revenue from a unit that leases online betting equipment.
Melco Resorts & Entertainment and MGM Resorts are likely to have gained market share in Q3 as new properties ramp up, while Wynn Resorts and Galaxy Entertainment may have slipped due to their greater reliance on VIP, Bernstein analysts say.
Melco, MGM and Hard Rock International will be the leaders in 2020 in a trend towards the internationalisation of gaming brands, Spectrum predicts.
Melco Resorts & Entertainment partnered with Keio University to give more than twenty of the IR operator’s foreign executives a seminar on Japanese history, culture, and business practices. The seminar took place in Tokyo on September 14.
Melco Resorts & Entertainment announced on Wednesday that it would focus its IR campaign on Yokohama and that it was suspending its participation in bidding for the Osaka Yumeshima location.
Melco International Development says it has granted 14.2 million share options to new president and managing director, Evan Andrew Winkler, to incentivise him to drive further share price gains.
Melco Resorts and Entertainment has appointed Evan Winkler as company president with effect from Wednesday, 4th September. According to a company press release, Mr. Winkler will be responsible for the day to day operational matters globally and will report to Melco chairman and CEO Lawrence Ho. Melco’s operations departments will report to Winkler directly, it […]
Melco International Development Limited said it was able to achieve stable operating and financial results in the first half of 2019 despite “ongoing challenges in the global economy.” The company saw its profit fall slightly in 19H1, down 4.2 percent year-on-year to HK$1 billion. Net revenues increased 12.9 percent year-on-year to HK$22.4 billion. Melco said […]
Melco Resorts & Entertainment said it is putting the purchase of a second tranche of shares in Crown Resorts International on hold pending the completion of a regulatory probe into the Australian company.
Melco’s moves to acquire a 19.99 percent interest in Crown Resorts is likely stepping stone for eventually taking controlling ownership, or outright acquisition of Crown, according to analysts from Bernstein. Earlier this year, Melco announced it is acquiring a 19.99 percent stake in the Australian casino operator for a total consideration of US$1.2 billion. The […]
The official announcement by Mayor Fumiko Hayashi that Yokohama would enter the IR race in earnest has set off a scramble among major IR operators, with Las Vegas Sands announcing that it was completely abandoning its efforts to partner with the Osaka government and Melco announcing its intention to open a Yokohama office with a new executive in charge.
The municipal government told reporters on Monday that Yokohama’s long period of indecision had ended and that Mayor Fumiko Hayashi would announce later in the week that her city would seek to host a major urban IR at the 47-hectare Yamashita Pier location.
New South Wales regulators have launched a probe into the sale of a stake in Crown Resorts to Melco Resorts & Entertainment following an investigative news report alleging illegal operations.
Melco International Development has announced it has completed the disposal of its entire shareholdings of ICR Cyprus Holdings, to its listed subsidiary Melco Resorts & Entertainment. The transaction was first announced on June 24 to the Hong Kong Stock Exchange, which sees Melco Resorts & Entertainment as the purchaser of Melco International’s 75 percent shareholding […]
Belle Corp said revenue fell 7 percent in the first half as gains from its share of revenue in City of Dreams Manila (CoD) failed to outweigh a decline in revenue at a unit that leases online betting equipment.
Melco Resorts & Entertainment said its Q2 revenue rose 17 percent, helped by the opening of its Morpheus hotel in June last year and higher hold rates, though performance at its City of Dreams Manila property weakened on increased competition.
Cyprus Casinos on Monday announced the opening of third satellite casino in the country, named C2 Ayia Napa. The casino now joins ranks with C2 Nicosia and C2 Larnaca satellite casinos which opened in December 2018. It is situated on a 13,829 square meter plot of land, with a floor area of around 367 square […]
The mass market in Macau accelerated to grow 12 percent in Q2 compared with the same period a year ago, with Melco Resorts & Entertainment increasing its share of EBITDA, according to a note from Morgan Stanley.
MGM China and Melco Resorts and Entertainment said they will pay a bonus equivalent to one month’s salary to celebrate the 70th anniversary of the founding of The People’s Republic of China and the 20th anniversary of the establishment of Macau as a Special Administrative Region.
Melco Resorts & Entertainment vows to purchase seafood from sustainable business, explaining that “healthy and productive oceans are important for both marine ecosystems and the communities that rely on them for their livelihood.”
Melco Resorts & Entertainment’s diversification away from its home base of Macau will help to “future proof” the company and help its EBITDA to outperform peers, according to analysts at Morgan Stanley.
Melco Resorts & Entertainment has agreed to buy all of parent company Melco International Development’s holding in the company developing an IR on Cyprus for $375 million in stock.
Melco Resorts & Entertainment’s new Morpheus hotel has become the first in Macau to win a Prix Versailles regional award for design and architecture.
Frederic Winckler, executive vice-president and chief marketing and brand officer of Melco Resorts & Entertainment, tells Asia Gaming Brief in an exclusive interview that his company’s IR bid in Japan is firmly focused on the future.
The Japan IR Association (JIRA) held its third event within the Diet Building complex on June 19, this time focusing on the role of entertainment within Japan’s anticipated IR industry.
Gross gaming revenue in June is expected to be lower than in the prior two months, but should still gain between 3 and 5 percent, according to analysts at Bernstein Research.
Melco Reports & Entertainment has bought a third plane, an Airbus A330, to its fleet to transport VIP gamers to its properties, MNA reports.
Melco Resorts chairman and CEO, Lawrence Ho says that their recent acquisition of shares in Crown Resorts will help to accelerate their bid for a Japan casino license. Mr. Ho was speaking at a special media roundtable on Tuesday in Macau, where he also expressed optimism for Macau’s gaming revenue growth this year. The Macau […]
The gambling regulator in New South Wales plans to review its 2014 approval for Crown Resorts to build a six-star property in Barangaroo, Sydney, after Macau’s Melco Resorts & Entertainment bought a 19.9 percent stake in the Australian operator, Reuters reports.
The opening of Melco’s integrated casino resort in Cyprus has been pushed back six months due to the extensive infrastructure needed, local media reports. The new integrated resort, which would be the country’s first, was originally due to open by the summer of 2021, and construction work started last month. There have also been minor […]
Melco Resorts & Entertainment said it agreed to buy an almost 20 percent stake in Crown Resorts for A$1.75 billion ($1.2 billion) just two years after the Australian company withdrew from a decade-long venture with the Macau-based operator.
Melco Resorts & Entertainment Chairman and CEO Lawrence Ho sits down for an exclusive twenty-minute interview with AGB Nippon Executive Editor Michael Penn, discussing the challenges of his firm’s campaign to win one of the three Integrated Resort licenses in Japan.
Gross gaming revenue in the Philippines gained 17.4 percent in Q1 to P60 billion ($1.13 billion), with most of the gains driven by casinos in Entertainment City.
Melco Resorts & Entertainment Chairman and CEO Lawrence Ho came ready for action on the first day of the Japan Gaming Congress, announcing that his firm would dramatically raise the global standard of IR industry, and presenting a stunning array of visual demonstrations of his “City of the Future” concept for the Osaka Yumeshima site.
Melco Resorts & Entertainment posted a 4 percent gain in Q1 revenue, driven mostly by mass market table games in Macau, though the operator posted flat revenue from its operations in Manila and said it had turned cautious on the market due to increased competition.
Melco Resorts & Entertainment has been named among the Best Companies to Work for in Asia 2019 in the hospitality sector for Hong Kong and Macau.
One of the key shareholders in the joint venture that runs Macau’s Studio City has filed for bankruptcy, although the move is unlikely to prompt majority investor, Melco Resorts & Entertainment, to launch a buyout of minorities, analysts at Bernstein Research said.
Premium Leisure Corp. has clarified that there are no definite plans for the expansion of the City of Dreams brand in the Philippines at the moment, after Chairman Willy Ocier was widely reported as talking about a potential new resort on Tuesday.
Premium Leisure Corp Chairman Willy Ocier says the companies involved in the City of Dreams Manila are considering opening a second property at a different location, The Philippine Star reports.
Melco Resorts & Entertainment Limited is excited to announce that the company won the first place Gold Award for Best Mass Recruitment at Human Resources Asia Recruitment Awards 2019. To be able to attract and select the best applicants in huge numbers requires a company to have the reputation that it is somewhere people want […]
Melco Resorts Finance, a subsidiary of Melco Resorts, has announced the pricing of its international offering of senior notes, proceeds of which will be used to pay down debt. The notes consist of $500 million aggregate principal amount of 5.25 percent senior notes due 2026 and are priced at 100 percent. In a press release, […]
Casino operator Melco Resorts & Entertainment has announced the implementation of a new sustainability strategy – “Above and Beyond”, across its properties. According to a filing on Monday, the sustainability strategy has four key goals to be met by 2030, with measures relating to environmental sustainability, responsible gaming, employee and community engagement as well as […]
The earnings of Macau’s six operators may produce some negative surprises amidst higher staff costs, higher reinvestment rates and slowing revenue growth, Morgan Stanley forecasts.
Melco Resorts & Entertainment said its board had agreed to grant restricted shares amounting to about 0.09 percent of the group’s share capital to its chairman and CEO Lawrence Ho. Ho will receive 409,076 American depositary shares, which are equivalent to 1,227,228 Melco shares under a share incentive plan. The shares are not transferable and […]
Macau’s casino operators spared no expense raising awareness around green initiatives during the city’s annual “Green Week”, held last week in Macau. The Green Week was also the home of the 2019 edition of the Macao International Environmental Co-operation Forum and Exhibition (2019MIECF), a forum discussing ecological civilization, green finance, water resources, and marine pollution, […]
Melco Resorts & Entertainment posted lower revenue and profit for Q3, hurt in part by a decline in VIP gross gambling revenue across all its properties.
An eSports stadium would “very likely” be a “key component” of any major market IR that Melco Resorts & Entertainment would build in Japan, CFO Geoff Davis told Nikkei Asian Review in a recent interview.
Melco Resorts & Entertainment Ltd has been recognized in the “Forbes Travel Guide 2018 World’s Most Luxurious Hotels” and “Forbes Travel Guide 2018 World’s Most Luxurious Spas”, with three hotels and two spas under the Melco brand garnering the prestigious recognition. The publication has named Macau as a top global destination which features the biggest […]
Melco Resorts & Entertainment marked the official launch Wednesday of a fleet of 20 zero-emission electric buses, which it claims is the largest in Macau.
A dozen companies submitted plans and information to the Yokohama municipal government before the RFI deadline last Friday. Among these, eight were international IR operators, two were domestic property developers, and two were other kinds of Japanese firms.
Melco Resorts & Entertainment said it is the first in Macau to win four Green Key Awards, recognizing excellence in sustainability in its hotels.
While Melco has been experiencing weaker than expected ramp up at City of Dreams and Studio City, Bernstein analysts believe the stock to be undervalued compared to the other operators in Macau. On Melco’s 18Q3 performance, Bernstein noted that mass at City of Dreams has been trending lower than expected while Studio City’s mass and […]
Macau’s operators announced Monday they were mobilizing staff to help with the cleanup efforts after Typhoon Mangkhut, which swept through the territory at the weekend forcing the closure of casinos for the first time since concessions were granted in 2002.
Melco Resorts and Entertainment on Wednesday announced the appointment of Ms Francesca Galante as independent non-executive director of the company. Ms. Galante also becomes a member of each of the compensation committee and nominating and corporate governance committee of Melco with immediate effect. According to a filing from Melco, Ms. Galante comes from the real […]
Melco International Development posted a three-fold increase in profit in the first half of 2018, attributed mainly to better group-wide gaming performance, recovery of previously provided doubtful debt, and lower finance costs. According to a filing from Melco to HKEx, profit before tax reached HK$1.1 billion, up from HK$0.4 billion in the prior year period. […]
Melco Resorts has announced it will be launching a new pension fund plan and bonus scheme for its non-management staff. Under the new scheme, Melco will match employee contributions of up to 5 percent of base salary into their mandatory centralized provident fund. The company has also promised to award a one-time special gift of […]
Melco Resorts & Entertainment said its Studio City International Holdings venture is continuing to prepare for an initial public offering, which will commence as soon as market conditions permit and it receives the necessary clearance from the U.S. Securities and Exchange Commission.
Melco gaming staff gathered on the weekend outside City of Dreams in Macau, demanding better wages and bonuses in line with other operators, Macau TDM reports. The New Macau Gaming Staff Rights Association, which led the protest, said there were 3,000 people joining the demonstration. The Public Security Police said there were 850 participants at […]
Melco Resorts & Entertainment on Tuesday launched Macau’s first e-sports venue at its Studio City property, which it hopes will attract a younger generation of players to Macau.
Melco has won an Outstanding Corporate Social Responsibility award at the 7th Cross-Strait-Four-Region Outstanding CSR Awards organized by the Mirror Post of Hong Kong. Melco garnered the accolade among regional organizational entries from China, Hong Kong, Macau and Taiwan based on its commitment to shareholders and clients, community relations, employee care, leadership and environmental sustainability […]
Melco Resorts & Entertainment reported an 8 percent gain in adjusted property EBITDA driven by its City of Dreams Manila and Altira properties, though overall revenue fell after a change in accounting practices.
Melco’s new temporary casino facility in Cyprus appears to be picking up momentum after a sluggish first week, according to the property president of City of Dreams Mediterranean. Speaking to Cyprus Mail, Craig Ballantyne said the first three weeks of operation has seen over 34,000 visitors from 41 different countries, with 6,000 visitors registering for […]
Melco has launched its first on-site Hotel and Catering Safety Card Training with Labour Affairs Bureau (DSAL), the first of its kind in Macau. The full day program, attended by 53 Melco employees from various departments covered Occupational Safety and Health (OSH) topics relevant to the hotel and catering industry including workplace accident prevention, manual […]
The opening of Melco’s new Cyprus temporary casino was below expectation, and the casino’s property president said local competition is to blame, Cyprus Mail reports. City of Dreams Mediterranean property president Craig Ballantyne said around 7,000 unique guests have visited the property so far, with over 4,000 joining the casino rewards program. “There were a […]
Dealers from Melco Resorts have submitted a petition to the Labor Affairs Bureau claiming the company has miscalculated their provident fund, or retirement fund contribution, local media reports. According to the New Macau Gaming Staff Rights Association, around 1,933 signatures have been collected – with claims that the operator has been calculating the funds based […]
Macau’s casino operators saw their stocks tumble on Monday after weaker-than-expected Macau gaming revenue reported for the month of June. June GGR came in 12.5 percent year-on-year growth, down from the 18-20 percent expected by analysts. Shares of Melco Resorts was one of the hardest hit, falling 9.6 percent to their lowest level in 2018. […]
Marina Bay Sands is bringing one of the world’s top nightclub brands to Singapore next year, becoming the latest of the region’s major IRs to add clubbing to the entertainment mix in the hope of duplicating the success of Las Vegas’ vibrant night scene. The property, which is owned by Las Vegas Sands, is teaming […]
Macau’s gross gambling revenue is tracking for a 20 percent gain in June, helped the opening of Melco Resorts & Entertainment’s Morpheus Hotel and the Dragon Boat festival, Morgan Stanley said in a note.
Melco’s Lawrence Ho is confident his company will be granted more new-to-market gaming tables next year, TDM News reports. The company’s newest hotel tower, Morpheus, officially opened its doors on Friday after receiving its hotel and gaming license on Thursday. The 770-room hotel opened with 40 gaming tables transferred from other Melco properties, however, Ho […]
Melco Resorts & Entertainment has sponsored a public service video to reinforce responsible gaming culture to be shown on Macau television.
On Friday, Melco International Development held a ceremonial groundbreaking of City of Dreams Mediterranean, with expectations that the project’s first phase will open by 2021. Melco executives, including CEO Lawrence Ho assembled on the plot of land in Limassol, along with Cypriot president Nicos Anastasiades and Melis Shiakolas, CEO of Melco’s local partner CNS Group. […]
The latest financial results from Macau’s operators showed a healthy increase in slot machine revenue, indicating that a mix of product innovation, evolving customer preferences and new capacity are beginning to help them gain traction. According to figures from Macau’s Gaming Inspection and Coordination Bureau (DICJ), GGR from slot machines in the enclave was MOP […]
An animal protection organization has expressed their outrage over the Melco Cyprus casino project, which they claim has gone ahead without any assessment in the impact of the environment and wildlife. According to a media statement from BirdLife Cyprus, the organization claims that the Akrotiri Peninsula, which the Zakaki Casino will be located, is home […]
Melco Resorts Chairman and CEO Lawrence Ho does not expect that Japanese IRs will produce revenues on the scale of Macau, but he is nevertheless more than willing to build “a $10 billion plus resort” in either the Kansai or Kanto regions of the country.
During an interview with CNBC’s Christine Tan, Melco Resorts chairman and CEO Lawrence Ho said he “wouldn’t hesitate” to partner with Australian gaming mogul James Packer again should the opportunity arise. The partnership between Melco and Crown, known at the time as Melco Crown Entertainment, ended in May 2017, with Crown exiting its position in […]
Macau gaming operators Sands, Melco and Galaxy are best placed to capitalize on the rise of the Chinese premium market, according to Bernstein Research. The brokerage published its latest report, titled “China Consumer: Where to Play, How to Win… Premium is the New Mainstream,” on Friday, covering the latest trends in premium mass spending, preferences […]
Premium Leisure Corp is reportedly in “preliminary discussions” with Melco Resorts & Entertainment in order to acquire shares in Melco’s local operating unit which runs City of Dreams Manila. The announcement was made on Friday by Melco Resorts and Entertainment (Philippines) Corporation to the Philippine Stock Exchange. Currently, Premium Leisure Corp has an operating agreement […]
Melco’s newest development, Morpheus, is set to open on June 15, 2018, according to an announcement from Lawrence Ho, chairman and CEO of Melco. Mr. Ho was speaking at a sneak-peak media press briefing at the Grand Hyatt in Macau on Tuesday, followed by a media tour. The $1.1 billion hotel tower is best known […]
Melco Resorts & Entertainment CEO Lawrence Ho says its Hollywood-themed Studio City resort will be ramping up its entertainment offerings in an “insane” way as part of the group’s determination to be at the cutting edge and stand out from other IRs.
Melco Resorts & Entertainment, Sands China, MGM China and SJM Holdings have improved maternity and paternity leave benefits for employees. At Melco, paid maternity leave will be extended from 8 weeks to 10 weeks from June 1st, while paid paternity leave will go from 3 (or 24 hours) to 5 days (or 40 hours) for […]
Melco’s new $1.1 billion hotel tower will not be using junkets to lure in Asian high rollers to its casino, chairman and CEO Lawrence Ho told Reuters. “Eventually it’s much better to develop your own database than rely on junkets,” said Ho on Friday. The new 160-meter tall hotel tower, Morpheus, will be located at […]
Melco Resorts and Entertainment exited one of gaming’s most successful joint ventures early last year, putting it in a position to reap the full potential of its Asian properties and to chart its own path into new jurisdictions. The company is building an integrated resort in Cyprus and is pushing hard for a license in […]
Melco Resorts & Entertainment posted a 3 percent increase in Q1 revenue, driven by Studio City and Altira.
As the Covid-19 crisis descended upon, first, China, then the world, the six Macau operators have not been idle in their CSR efforts, in spite of the mandated casino closures and reopenings under difficult economic conditions.
Melco Resorts & Entertainment is increasingly bullish on the disruptive impact of blockchain technology on the casino floor, with projects already live and more in the pipeline.
Macau’s operators have stepped up their corporate social responsibility (CSR) efforts in recent years, in particular when it comes to China cultural cooperation, which may help their case when it comes to concession renewal.
Melco Resorts & Entertainment and MGM China outperformed their peers in the latest reporting season, as the ramp up of new product offerings drove growth.
Yokohama Mayor Fumiko Hayashi's announcement that her government would make an IR bid reshaped the licensing race in a way that few other events have done.
Australian regulators are likely to focus on probity issues in their investigations into Crown Resorts’ operations, although experts don’t expect any major red flags to be raised.
There is a growing trend towards businesses founded on the premise of social capital, though despite their enormous profits, most casino firms have yet to sign on.
As concern mounts about the global environment, many of Asia’s giant IRs are taking significant steps to minimise their impact, investing heavily in green technologies and other waste control initiatives.
Despite short-term headwinds from China’s slowing economy and trade friction with the U.S., analysts remain optimistic Macau will retain its crown as Asia’s top gaming hub.
One month on from the opening of the Hong Kong–Zhuhai–Macau Bridge (HZMB), Macau’s casino sector is weighing up its immediate impact and how it is likely to affect operations in the longer term.
The first of Macau’s six casino concessions expire in less than 18 months, though the operators who have invested billions in the territory still have no clarity as to how, or even if, those licenses to operate will be renewed.
Macau gaming stocks are feeling the heat from the trade war between the U.S. and China, falling to their lowest levels in a year, with some analysts cutting their growth forecasts on concern for a slowdown in China’s economy.
The season has come for the sixteen or seventeen interested IR operators to concretely develop their strategies to woo local governments and to position themselves to be chosen as partners.
Alongside a rebound in gross gaming revenue, Macau is enjoying a boom in retail sales, with operators seeking to drive further growth through innovative concepts, such as pop-up shops and retail cafes.