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Tag Archives: Melco Resorts

Japan – Genting and Melco express disappointment over Yokohama u-turn

Melco Resorts and Genting Singapore, who were competing for a licence to build an Integrated Resort casino in the Japanese city of Yokohama have said they have been left disappointed by the new Mayor’s decision to pull the plug on the region’s bid for a casino. Melco Resorts has said whilst it is now closing…

Cyprus – Melco back to making a profit in Cyprus

Melco Resorts & Entertainment’s temporary casino and four satellite casinos in Cyprus are back to making a profit again following their recent reopenings. For the quarter ended June 30, 2021, total operating revenues at Cyprus Casinos were US$10m, compared to US$3.5m in the second quarter of 2020. Cyprus Casinos generated negative Adjusted EBITDA of US$0.8m…

China – Altira Macau to refocus on premium mass gaming

Melco Resorts has confirmed it will pull the plug on the VIP operations at Altira Macau with a shift of strategy seeing it concentrate on the premium mass gaming sector. The transformation is expected to take 12 months to be completed. Melco’s Chairman and CEO Lawrence Ho said: “At Altira, starting in the third quarter…

China – Melco reduces operating loss as EBIDTA bounces back at all its Macau casinos

Melco Resorts generated operating loss for the second quarter of 2021 of US$128.1m, compared with operating loss of US$370.8m in the second quarter of 2020. Total operating revenues for the second quarter of 2021 were US$566.4m, representing an increase of approximately 222 per cent from US$175.9m for the comparable period in 2020. The increase in…

China – Melco Resorts & Entertainment announces share purchase and award program

Melco Resorts & Entertainment has adopted a Share Purchase and Award Program to recognise the dedication and commitment of its employees and provide eligible employees the opportunity to benefit from the Company’s long-term growth. The Share Purchase and Award Program applies to eligible employees who agreed in 2020, at the height of the COVID-19 pandemic,…

Japan – Genting Singapore and Melco make it through to Yokohama final

Genting Singapore and Melco Resorts & Entertainment have made it through to the final round of the qualification screening process for Yokohama’s Request for Proposal (RFP) to build an Integrated Resort casino at Yamashita Pier. With Galaxy, SBM, Wynn and Las Vegas Sands all pulling out of the race over the last year, it meant…

China – Revenues fall 36 per cent but loss improves for Melco

Macau casino group Melco Resorts & Entertainment saw its net loss improve during the three months to March 31 2021, reaching US$232.9m compared to a loss of US$364m for the same time period last year. The loss increased from quarter to quarter though rising from a loss of US$199.7m in the fourth quarter of 2020….

China – Melco receives third-party responsible gaming accreditation RG Check

Melco Resorts & Entertainment has become the first integrated resort operator in Macau and the Philippines to achieve the esteemed international third-party responsible gaming accreditation RG Check, with its entire integrated resort portfolio including Altira Macau, City of Dreams Macau, Studio City and City of Dreams Manila receiving the certification. Developed by the Responsible Gambling…

China – Studio City Phase 2 wins BREEAM Awards 2021 regional accolade

Melco Resorts & Entertainment announces Studio City Phase 2 has been named winner of the ‘Regional Award, Asia’ at BREEAM Awards 2021. The international BREEAM Awards is an annual celebration recognizing the people, projects and organizations who are leading the way with significant achievements in sustainable building design, development and management. Denise Chen, Senior Vice…