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.
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.
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.