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Melco Resorts & Entertainment Limited Melco Resorts & Entertainment Limited

Melco Announced Unaudited Third Quarter 2021 Earnings

Melco Resorts & Entertainment Limited (Melco), a developer, owner, and operator of integrated resort facilities in Asia and Europe, in November reported its unaudited financial results for the third quarter of this year.

Total operating revenues for the third quarter of 2021 were USD446,4 million, representing an increase of approximately 110 percent from USD212,9 million for the comparable period in 2020. The increase in total operating revenues was primarily attributable to improved performance in all gaming segments and non-gaming operations as a result of a year-over-year increase in inbound tourism in Macau.

Operating loss for the third quarter of this year was USD182,2 million, compared with operating loss of USD275,0 million in the third quarter of 2020.

Melco generated Adjusted Property EBITDA of USD31,9 million in the third quarter of this year, compared with negative Adjusted Property EBITDA of USD76,7 million in the third quarter of 2020.

Lawrence Ho, CEO, Melco, commented, “Continued travel restrictions and quarantine measures in Macau and the region negatively impacted our third quarter operating and financial performance. To preserve our cash and liquidity, we continue to enforce strong cost control discipline in respect to both operating expenses and capital expenditures. Macau remains one of the safest regions in the world thanks to the government’s careful handling of the global pandemic, and we applaud the government’s effort to further increase vaccination rates towards the goal of increasing immunity in Macau. {…}.