Melco reports slight upswing at casinos

Home » Melco reports slight upswing at casinos

Casino operator Melco Resorts has become the latest of the big groups to report that following a disastrous 2020 there is a modest improvement in the first quarter of 2021.


Lawrence Ho, CEO, said: “Covid-19 and the subsequent travel restrictions continue to have a significant negative impact on our operating and financial performance. Despite these challenges, our integrated resorts experienced a moderate recovery in business levels during the first quarter of 2021.”

Revenues for the quarter were US$0.52bn, down 36 per cent from $0.81bn. A drop in inbound tourism was largely to blame for the downturn. There is an operating loss of $162.8m compared with a loss of $149.9m. The net loss is $232.9m compared with $364m.

The company remains on course to bid for the rights to build and operate an integrated resort in Japan.

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Melco Resorts and Entertainment has venues in Asia and Europe. It operates the Altira and Cotai casinos in Macau and the Mocha Clubs, the non-casino based operation of slots in Macau.

It also has Studio City, the cimea-themed resort in Cotai, Macau. In the Philippines it has City of Dreams Manila and in Europe it is developing the City of Dreams Mediterranean in Cyprus.

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