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 ...

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Q3 2023 Earnings Conference Call November 7, 2023 8:30 AM ET Company Participants Jeanny Kim - Senior Vice President, Group Treasurer Lawrence Ho - Chairman & Chief Executive Officer Geoffrey Davis - Executive Vice President & Chief Financial Officer David Sisk - Chief Operating Officer, Macau Resorts Evan Winkler - President Conference Call Participants George Choi - Citigroup Inc. Joseph Greff - JPMorgan Ricardo Chinchilla - Deutsche Bank John DeCree - ...

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 ...

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Q2 2023 Earnings Conference Call August 1, 2023 8:30 AM ET Company Participants Jeanny Kim - Senior Vice President, Group Treasurer Lawrence Ho - Chairman & Chief Executive Officer Geoffrey Davis - Executive Vice President & Chief Financial Officer David Sisk - Chief Operating Officer, Macau Resorts Conference Call Participants George Choi - Citi John DeCree - CBRE Securities Praveen Choudhary - Morgan Stanley Simon Cheung - Goldman Sachs Operator Ladies a ...

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Q1 2023 Earnings Conference Call May 10, 2023 8:30 AM ET Company Participants Jeanny Kim - Senior Vice President, Group Treasurer Lawrence Ho - Chairman & Chief Executive Officer Geoffrey Davis - Executive Vice President & Chief Financial Officer David Sisk - Chief Operating Officer, Macau Resorts Conference Call Participants George Choi - Citi Praveen Choudhary - Morgan Stanley Angus Chan - UBS Simon Cheung - Goldman Sachs Joseph Greff - JPMorgan Operator ...

Exhibit 99.1 Explanatory Note Melco Resorts Finance Limited's Annual Report for the Fiscal Year Ended December 31, 2022 This annual report provides Melco Resorts Finance Limited's ("Melco Resorts Finance") audited financial statements, on a consolidated basis, in respect of the fiscal year ended December 31, 2022, together with related information. 1 Melco Resorts Finance Limited TABLE OF CONTENTS For the Year Ended December 31, 2022 | --- | --- | |----------------------------------------------------------- ...

Capital Expenditures and Development Projects - Total capital expenditures for 2022, 2021, and 2020 were $598.4 million, $782.2 million, and $464.3 million, respectively, with $488.3 million, $653.8 million, and $249.2 million allocated to development and construction projects[647] - The company's total capital expenditures for 2022, 2021, and 2020 were $598.4 million, $782.2 million, and $464.3 million, respectively, with significant portions allocated to development and construction projects[647] Impairment Losses - Impairment losses recognized in 2022 included $3.6 million for a decrease in the market value of an aircraft and $6.8 million for a piece of freehold land[649][652] - An impairment loss of $13.9 million was recognized against the goodwill of the Japan Ski Resort for the year ended December 31, 2020[659] - An impairment loss of $3.6 million was recognized in 2022 for a significant decrease in the market value of an aircraft, and $1.1 million in 2021 for a piece of freehold land[649][650] - The company recognized no impairment losses on goodwill and trademarks for the years ended December 31, 2022 and 2021, but a $13.9 million impairment loss was recognized for the Japan Ski Resort in 2020[659] Casino Revenues and Gaming Promoters - Casino revenues derived from rolling chip gaming promoters accounted for 0.3%, 11.9%, and 15.6% of total casino revenues in 2022, 2021, and 2020, respectively[667] - Casino revenues are measured by the net difference between gaming wins and losses, with commissions and incentives recorded as reductions of casino revenues[661] - Casino revenues derived from rolling chip gaming promoters accounted for 0.3%, 11.9%, and 15.6% of total casino revenues in 2022, 2021, and 2020, respectively[667] - The company ceased all gaming promoter arrangements in Macau in December 2021 but may engage gaming promoters in the future[638] Goodwill and Intangible Assets - Goodwill and purchased intangible assets with indefinite useful lives as of December 31, 2022, were associated with Mocha Clubs, a reporting unit[653] - The fair value of reporting units is determined using discounted cash flow methods, with cash flow projections based on historical experience and future growth assumptions[655] Property and Equipment - The estimated useful lives of property and equipment are periodically reviewed based on factors such as operating plans and economic conditions[644] - Costs of repairs and maintenance are expensed when incurred, while costs of property and equipment retired or disposed of are eliminated from accounts[645] - Software development costs for internal use are capitalized and amortized over the estimated useful life, with periodic reviews of remaining useful lives[646] COVID-19 Impact - The disruptions caused by COVID-19 outbreaks had adverse effects on the financial condition and operations of Mocha Clubs and the Japan Ski Resort[659] - COVID-19 disruptions have adversely affected the company's operations, with recovery remaining highly uncertain due to potential re-imposition of travel restrictions, vaccine efficacy, and economic impacts such as higher unemployment and reduced discretionary spending[636] Credit Loss Allowances and Deferred Tax Assets - Casino credit loss allowances were 80.0% of gross casino accounts receivables as of December 31, 2022, compared to 83.4% in 2021[671] - A 100 basis-point change in the estimated allowance for credit losses would impact the allowance by approximately $2.7 million[671] - Valuation allowances for deferred tax assets were $299.6 million as of December 31, 2022, up from $267.3 million in 2021[672] - As of December 31, 2022, the company's allowance for casino credit losses was 80.0% of gross casino accounts receivable, with a 100 basis-point change impacting the allowance by approximately $2.7 million[671] - Deferred tax assets were reduced by valuation allowances of $299.6 million and $267.3 million as of December 31, 2022, and 2021, respectively, due to management's belief that these assets may not be realized[672] Financing and Investments - The company completed private placements of $500 million in August 2020 and $300 million in March 2022, with net proceeds of $499.2 million and $299.2 million, respectively[622] - The company is required to invest MOP11,823,700,000 (approximately $1.5 billion) in Macau, including MOP10,008,000,000 (approximately $1.2 billion) in non-gaming projects[623] - Total long-term indebtedness and contractual obligations as of December 31, 2022, amounted to $11,786.1 million[626] - Fixed interest payments for 2022 totaled $1,731.9 million, while variable interest payments were $248.8 million[626] - The company committed to an additional non-gaming investment of MOP2,003,000,000 (approximately $249.0 million) if Macau's annual gross gaming revenue reaches MOP180,000,000,000 (approximately $22.4 billion)[629] Licensing Agreements and Corporate Ratings - The company holds licensing agreements with Hyatt, Nobu Hospitality, DreamWorks Animation, and Marriott International for branding and intellectual property rights[633][635] - The company's corporate ratings are "BB-" and "B+" by Standard & Poor's, and "Ba3" and "B1" by Moody's for its subsidiaries[631] Regulatory and Competitive Environment - The amended Macau Gaming Operations Law and other Macau government policies, including travel and visa restrictions, may impact the company's operations and financial conditions[636] - Chinese government policies, including anti-corruption campaigns and restrictions on cross-border currency movements, may limit the recovery and growth of patrons visiting the company's properties[636] - Increased competition in Macau and the Philippines due to new gaming and non-gaming facilities, with the company's Cyprus market expected to be volatile as the City of Dreams Mediterranean project is still under development[636] - The company's compliance costs may increase due to greater regulatory scrutiny on anti-money laundering, anti-bribery, and corruption laws globally[636] Cybersecurity and Operational Risks - Cybersecurity and ransomware attacks have increased globally, necessitating continuous evaluation and enhancement of the company's internal processes and technology infrastructure[638] Revenue Recognition and Loyalty Programs - Complimentary goods or services provided to incentivize future gaming are allocated based on standalone selling prices and recorded as operating expenses if supplied by third parties[662] - Loyalty program points are deferred as a liability, with revenue recognized upon redemption of points for goods or services[664] - The company recognizes revenue on a gross basis for its hotel and Grand Dragon Casino operations, acting as the principal in these arrangements[665]

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Q4 2022 Earnings Conference Call March 1, 2023 8:30 AM ET Company Participants Jeanny Kim - Senior Vice President, Group Treasurer Lawrence Ho Yau Lung - Chairman & Chief Executive Officer Geoffrey Davis - Executive Vice President & Chief Financial Officer David Sisk - Chief Operating Officer, Macau Resorts Conference Call Participants George Choi - Citi Joseph Greff - JPMorgan Ricardo Chinchilla - Deutsche Bank Praveen Choudhary - Morgan Stanley Operator ...

AOMELCO Melco Announces Unaudited Fourth Quarter 2022 Earnings MACAU, March 01, 2023 (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 reported its unaudited financial results for the fourth quarter and full year ended December 31, 2022. Total operating revenues for the fourth quarter of 2022 were US$337.1 million, representing a decrease of approximately 30% from US$4 ...