Melco Resorts and Entertainment Ltd

MLCO

Equity

ISIN US5854641009 / Valor 2826732

NASDAQ (2024-12-24)

USD 5.98-3.24%

Melco Resorts and Entertainment Ltd
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About company

Melco Resorts and Entertainment Ltd is a leading hospitality and entertainment company that operates luxury hotels and casinos catering to the high-end Asian market. The company's flagship properties include Altira Macau, an award-winning hotel and casino known for its contemporary luxury and top-notch entertainment services. Additionally, Melco Resorts is set to expand its presence in Europe with City of Dreams Mediterranean, the largest integrated resort in the region, offering a wide range of amenities such as luxury accommodations, MICE space, outdoor entertainment venues, family attractions, and upscale dining and retail options.

Summarized from source with an LLMView SourceSector: Consumer Services

Total Operating Revenues

Melco Resorts and Entertainment Ltd reported total operating revenues of US$1.11 billion for the first quarter of 2024, marking a significant increase of approximately 55% from US$716.5 million in the same period of 2023. This growth was primarily driven by improved performance across all gaming segments and non-gaming operations, largely due to the continued recovery in inbound tourism to Macau.

Operating Income

For the first quarter of 2024, Melco Resorts and Entertainment Ltd achieved an operating income of US$125.4 million, a substantial rise compared to the operating income of US$0.4 million in the first quarter of 2023. This increase reflects the company's enhanced operational efficiency and revenue growth.

Adjusted Property EBITDA

Melco Resorts and Entertainment Ltd generated Adjusted Property EBITDA of US$298.8 million in the first quarter of 2024, compared to US$190.8 million in the first quarter of 2023. The year-over-year increase in Adjusted Property EBITDA was primarily due to better performance in all gaming segments and non-gaming operations.

Net Income

Net income attributable to Melco Resorts and Entertainment Ltd for the first quarter of 2024 was US$15.2 million, or US$0.03 per ADS, compared with a net loss of US$81.3 million, or US$0.18 per ADS, in the first quarter of 2023. This turnaround highlights the company's successful recovery and improved profitability.

Debt and Financing

During the first quarter of 2024, Melco Resorts and Entertainment Ltd repaid US$250 million in debt, raised US$750 million in bonds, and extended the maturity of its US$1.9 billion revolving credit facility. These actions significantly reduced the company's refinancing risk in 2025 and strengthened its financial position.

Summarized from source with an LLMView Source

Key figures

-31.9%1Y

-42.7%3Y

-75.3%5Y

Performance

50.4%1Y

65.4%3Y

61.4%5Y

Volatility