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Melco Announces Unaudited Second Quarter 2025 Earnings
Globenewswire· 2025-07-31 12:00
"In the Philippines, although the heightened competitive environment continues to impact performance, we have been implementing a variety of initiatives to improve performance and reduce cost. In Cyprus, City of Dreams Mediterranean and our satellite casinos exhibited solid results despite the events in the Middle East in June 2025 and we are cautiously optimistic about the performance for the remainder of the peak season. "And finally, we are very excited to have City of Dreams Sri Lanka open on August 1, ...
LVSC(LVS) - 2025 Q2 - Earnings Call Presentation
2025-07-23 20:30
Forward Looking Statements This presentation contains forward-looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include the discussions of our business strategies and expectations concerning future operations, margins, profitability, liquidity and capital resources. In addition, in certain portions included in this presentation, the words "anticipates," "believes," "estimates," "expects," "intends," "may," ...
Nearly 110,000 Enjoy 2025 Sands Shopping Carnival
Prnewswire· 2025-07-22 10:44
Sixth edition of Macao's tourism and leisure extravaganza July 17-19 Drawing more than 640,000 visits to date MACAO, July 22, 2025 /PRNewswire/ -- Macao's largest sales event, the 2025 Sands Shopping Carnival, ran July 17-19 at The Venetian® Macao's Cotai Expo, concluding one day ahead of schedule due to Typhoon Wipha. This year's carnival holds significant influence as it received an overwhelming response from local residents and tourists – the shortened three-day run attracted nearly 110,000 visits, close ...
Las Vegas Sands Donates $515,000 to The WASH Foundation for Water and Hygiene Initiatives
Prnewswire· 2025-06-26 17:00
Core Insights - Las Vegas Sands has contributed $515,000 to The WASH Foundation in 2025, increasing total contributions to over $6.1 million since 2014 [1][2][4] Group 1: Funding and Initiatives - The 2025 Sands Cares investment supports three main priorities: hygiene supplies for those in need, funding local water initiatives, and expanding hygiene education programs globally [2][4] - The Global Hygiene Kit Build aims to assemble 70,000 hygiene kits for distribution, with a total of 1,034,000 kits produced since 2014 [4][5] - The Drop by Drop Project continues to provide grants to local nonprofits in Macao and Singapore, focusing on water stewardship and community engagement [5][6] Group 2: Partnership and Impact - The partnership with The WASH Foundation has led to significant milestones, including the transformation of a recycling center into a soap manufacturing operation and the introduction of mobile shower units for the homeless [3][7] - Since 2011, Sands and its partners have diverted over 663,000 pounds of waste and distributed 4.7 million bars of soap to those in need [7][8] - The collaboration enhances corporate responsibility efforts by engaging team members in volunteer work and promoting environmental advocacy [8][12] Group 3: Organizational Background - The WASH Foundation aims to provide safe water, sanitation, and hygiene to the 4.2 billion people lacking access to these resources [2][13] - Since its establishment in 2009, The WASH Foundation has served over 17.4 million people and distributed over 91.3 million bars of soap [14]
Melco Announces Appointment of New Independent Non-Executive Director
Globenewswire· 2025-06-13 11:11
Core Viewpoint - Melco Resorts & Entertainment Limited has appointed Mr. John Peter Ben Wang as an independent non-executive director, effective June 13, 2025, enhancing the board's expertise and governance [1][3]. Company Overview - Melco Resorts & Entertainment Limited is a developer, owner, and operator of integrated resort facilities in Asia and Europe, with operations including City of Dreams and Altira Macau in Macau, City of Dreams Manila in the Philippines, and City of Dreams Mediterranean in Cyprus [4]. - The company is majority owned by Melco International Development Limited, which is led by Mr. Lawrence Ho, who serves as the Chairman, Executive Director, and Chief Executive Officer [5]. Appointment Details - Mr. Wang has been appointed as the chairman of the audit and risk committee and is a member of the compensation committee and nominating and corporate governance committee [1]. - Mr. Wang is recognized as an "audit committee financial expert" as defined in Item 16A of Form 20-F, indicating his qualifications in financial oversight [1]. Mr. Wang's Background - Mr. Wang has extensive experience in finance, accounting, and investment banking, having previously served as a director of Melco from November 2006 to August 2016 and as Deputy Chairman and Executive Director of Summit Ascent Holdings Limited from 2011 to 2019 [2]. - He was the chief financial officer of Melco International Development Limited from 2004 to 2009 and is a chartered accountant with qualifications from the Institute of Chartered Accountants in England and Wales [2].
Melco achieves goal of sourcing 100% cage-free eggs across its global portfolio
Globenewswire· 2025-05-29 08:22
Core Viewpoint - Melco Resorts & Entertainment has successfully achieved its goal of sourcing 100% cage-free eggs by 2025 across its global portfolio, reflecting its commitment to sustainability and responsible sourcing [1][3]. Group 1: Sustainability Commitment - The initiative to source cage-free eggs began in 2020 as part of Melco's broader sustainability efforts, which include restoring the environment and empowering local communities [2]. - Melco collaborates with the Lever Foundation to ensure a reliable supply of cage-free eggs and to create economies of scale for this transition [2][3]. Group 2: Impact and Industry Influence - Mr. Lawrence Ho, Chairman and CEO, emphasized that small actions can lead to significant impacts, and the company aims to enhance transparency and supplier engagement in its sourcing practices [3]. - The shift to cage-free eggs is expected to influence other food companies in the region, promoting animal welfare and sustainable food practices [3]. Group 3: Health and Safety Benefits - Cage-free eggs are produced under more humane conditions and are associated with reduced food safety risks, as evidenced by research indicating a significantly higher risk of salmonella contamination in battery cage farms [3].
Melco Announces Unaudited First Quarter 2025 Earnings
Globenewswire· 2025-05-08 12:00
Core Viewpoint - Melco Resorts & Entertainment Limited reported strong financial results for the first quarter of 2025, with significant increases in operating revenues and net income, driven by improved performance in gaming and non-gaming operations. Financial Performance - Total operating revenues for Q1 2025 were US$1.23 billion, an increase of approximately 11% from US$1.11 billion in Q1 2024 [2] - Operating income for Q1 2025 was US$144.9 million, compared to US$125.4 million in Q1 2024 [2] - Adjusted Property EBITDA was US$341.0 million in Q1 2025, up from US$298.8 million in Q1 2024 [3] Net Income - Net income attributable to Melco for Q1 2025 was US$32.5 million, or US$0.08 per ADS, compared to US$15.2 million, or US$0.03 per ADS, in Q1 2024 [4] Segment Performance - City of Dreams generated total operating revenues of US$658.1 million in Q1 2025, up from US$550.9 million in Q1 2024, with Adjusted EBITDA increasing to US$195.9 million from US$153.6 million [6] - Studio City reported total operating revenues of US$354.5 million in Q1 2025, compared to US$331.4 million in Q1 2024, with Adjusted EBITDA rising to US$97.3 million from US$87.9 million [11] - Altira Macau's total operating revenues were US$27.9 million in Q1 2025, down from US$34.2 million in Q1 2024, with a negative Adjusted EBITDA of US$0.7 million [14] Gaming Operations - Rolling chip volume increased to US$6.05 billion in Q1 2025, compared to US$5.69 billion in Q1 2024, with a win rate of 3.74% [7] - Mass market table games drop increased to US$1.59 billion in Q1 2025, compared to US$1.48 billion in Q1 2024, with a hold percentage of 30.2% [8] Non-Gaming Revenue - Total non-gaming revenue at City of Dreams was US$84.1 million in Q1 2025, compared to US$80.6 million in Q1 2024 [9] - Total non-gaming revenue at Studio City remained stable at US$70.7 million for both Q1 2025 and Q1 2024 [13] Financial Position - Total cash and bank balances as of March 31, 2025, were US$1.23 billion, including US$125.3 million of restricted cash [30] - Total debt at the end of Q1 2025 was US$7.16 billion [30] Share Repurchase Program - From January 1, 2025, to May 7, 2025, Melco repurchased approximately 32.3 million ADSs for about US$165 million under its US$500 million share repurchase program [32]
Las Vegas Sands Continues Funding for Dress for Success Southern Nevada's Workforce Development Programs
Prnewswire· 2025-05-06 17:48
Core Viewpoint - Las Vegas Sands has made a $100,000 contribution to Dress for Success Southern Nevada to support programs aimed at empowering unemployed and underemployed women through job readiness and skills development resources [1][2]. Group 1: Contribution and Impact - The 2025 Sands Cares donation continues to support capacity-building initiatives for DFS Southern Nevada, enhancing services such as personalized suiting, job readiness, career coaching, and financial literacy programs [2][5]. - Sands was honored with the Community Impact Award by DFS Southern Nevada for its ongoing support, highlighting the positive impact on the community [3][4]. - Since its inception in 2009, DFS Southern Nevada has assisted over 13,000 women, with more than 50% of clients living below the poverty line [4][15]. Group 2: Program Details - The funding supports job readiness initiatives, including digital skills education, software for job applications, facility upgrades for client privacy, and resources for mentorship and training [5][6]. - The Sands Cares investment also backs the Styling for Success program, providing clients with professional attire to boost confidence during job searches [6][7]. - Financial and digital literacy programs are included, covering budgeting, saving, investing, and providing laptops to clients upon course completion [7][8]. Group 3: Strategic Alignment - The partnership aligns with Sands' focus on workforce development, aiming to empower women and enhance job skills within the local labor pool [8][9]. - The organization has a proven track record of transforming lives, benefiting not only the women served but also their families [8].
Studio City International Holdings Limited Announces Filing of Annual Report on Form 20-F for Fiscal Year 2024
Globenewswire· 2025-03-21 11:50
Core Viewpoint - Studio City International Holdings Limited has filed its annual report on Form 20-F for the fiscal year ended December 31, 2024, which is available on its investor relations website [1] Company Information - Studio City is a world-class integrated resort located in Cotai, Macau, and its American depositary shares are listed on the New York Stock Exchange (NYSE: MSC) [4] - The company is majority owned by Melco Resorts & Entertainment Limited, which is listed on the Nasdaq Global Select Market (Nasdaq: MLCO) [4] Shareholder Information - The company will provide a hard copy of its annual report containing audited consolidated financial statements free of charge to shareholders and ADS holders upon request [2]