Melco Resorts repurchases 85 million shares
The company has announced the exercise involved just under 10 million of its ordinary shares and 25 million of its American depositary shares.
Macau.- Melco Resorts & Entertainment has announced through a company filing that it has repurchased 9,995,799 of the company’s ordinary shares and 25,000,000 of the company’s American depositary shares.
The $152.7m buyback announced by Melco when it released its second-quarter results came from Melco Leisure and Entertainment Group Ltd, a unit of Hong Kong-listed Melco International Development Ltd. Melco Resorts announced that Melco Leisure’s holding in Melco Resorts would fall from 55.86 per cent to 50.36 per cent as a result of the private sale.
The group’s operating revenue for the second quarter was US$296.1m, a drop of 47.7 per cent from US$566.4m reported in the second quarter of 2021. When compared to the first quarter of 2022, the figure slipped 37.7 per cent.
The group’s adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA) was negative US$13.8m, versus positive US$79.1m in the prior-year quarter.
Melco’s City of Dreams in Macau posted operating revenues of US$97.3m for the second quarter of the year. The casino venue generated a negative Adjusted EBITDA of US$28.5m, compared with an Adjusted EBITDA of US$79.5m in the second quarter of 2021. Rolling chip volume was US$748.1m while the rolling chip win rate was 2.57 per cent.
Operating revenue at Altira Macau was US$7.2m, compared to US$18.3m in the second quarter of 2021. The casino venue generated negative adjusted EBITDA of US$11.3m, compared with negative US$17.3m in the second quarter of 2021.
