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Melco reports fourth quarter operating loss of US$104.4 million

CEO Lawrence Ho hopes higher vaccination rate will lead to reduction of travel restrictions, remains positive about upcoming gaming concession tender.

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CEO Lawrence Ho hopes higher vaccination rate will lead to reduction of travel restrictions, remains positive about upcoming gaming concession tender.

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PUBLISHED

UPDATED: 22 Dec 2023, 4:41 am

Melco Resorts & Entertainment has reported an operating loss for the fourth quarter of 2021 of US$104.4 million (MOP 840.2 million), compared with an operating loss of US$144.8 million in the same quarter of 2020.

According to Melco, total operating revenues for the fourth quarter of last year were US$480.6 million, representing a year-on-year decrease of about 9 per cent.

Adjusted Property EBITDA amounted to US$94 million, compared with US$53.4 million a year earlier.

Net loss attributable to the company for the fourth quarter was US$159.9 million, compared with US$199.7 million a year earlier.

Chairman and CEO Lawrence Ho commented that “Covid-related travel restrictions continued to impact our fourth-quarter operating and financial performance,” adding he hoped “that increasing vaccination rates can facilitate an easing of travel restrictions within the Greater Bay Area.”

Ho also said that Melco was “committed to participating in the [upcoming] public tender for the award of a gaming concession and will continue to promote economic diversification in Macao.”

Melco, which develops, owns and operates integrated gaming resorts in Macao, Manila and Cyprus, owns four of the city’s 42 casinos.

 

UPDATED: 22 Dec 2023, 4:41 am

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