Melco ups Q4 net loss after review

Melco Resorts has revised its Q4 net loss to US$205.9m.

Macau.- Melco Resorts & Entertainment has updated its fourth-quarter financials, adjusting the previously reported net loss of US$156.6m to US$205.9m. The amendment stems from a US$49.3m reduction in net deferred tax assets to nil from the originally reported US$49.3m.

The net loss attributed to the company for the entirety of 2023 rises from US$277.6m to US$326.9m, still an improvement from the US$930.5m loss incurred in 2022. Aggregate operating revenue for 2023 was up 179.7 per cent year-on-year to just under US$3.78bn. 

In March, S&P Global Ratings projected a potential return to pre-pandemic deleveraging for Melco Resorts & Entertainment in the next 12 to 24 months.