The company carried out more than 90 roadshows from January to June.
Macau.- More than 100 small and medium-sized enterprises (SMEs) benefited from the “Heart of House” roadshow series organised by Melco Resorts & Entertainment in the first half of the year. According to Melco, the roadshows generated over MOP4.4m (US$544,516) in revenue for Local SMEs.
The company carried out more than 90 roadshows from January to June, allowing SMEs to grow their businesses by selling directly to the approximately 16,000 employees who work in properties such as City of Dreams, Studio City and Altira Macau.
Roadshows during Easter, Golden Week and the Dragon Boat Festival sold food and beverages, body and skincare, clothing and accessories, and electronics-related baby products.
Melco has recently announced that its net loss rose 35.4 per cent year-on-year to US$251.5m. 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 a positive US$79.1m in the prior-year quarter.
According to Singapore-based Lucror Analytics, Melco Resorts & Entertainment has the best liquidity runway among its peers in Macau as it has a 14 months liquidity runway. Writing on the Smartkarma platform, Leonard Law, a senior credit analyst, said: “We estimate that this would be sufficient to support 22 months of cash burn – until April 2024 – under the worst-case scenario of zero revenues.”