{"id":16516,"date":"2021-04-01T16:09:41","date_gmt":"2021-04-01T16:09:41","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=16516"},"modified":"2026-04-23T20:38:24","modified_gmt":"2026-04-23T23:38:24","slug":"melco-posts-losses-of-us1-59bn-for-2020","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/melco-posts-losses-of-us1-59bn-for-2020","title":{"rendered":"Melco posts losses of US$1.59bn for 2020"},"content":{"rendered":"\n

Melco International Development has reported that net revenues were down 70.2 per cent year-on-year to HK$13.42bn (US$1.73bn).<\/p>\n\n\n\n\n\n\n\n

Macau.- Melco International Development<\/strong> has published consolidated annual results for 2020, reporting a loss after tax of HK$12.38bn (US$1.59bn)<\/strong>.<\/p>\n\n\n\n

The group, which is the majority owner of Macau-based casino operator Melco Resorts & Entertainment<\/strong>, said operations across Asia and Europe had been deeply affected by the impact of the Covid-19 pandemic<\/strong>.<\/p>\n\n\n\n

The casino operator generated negative adjusted EBITDA of HK$1.20bn (US$154.4m) <\/strong>for the year, compared to HK$12.50bn (US$1.61bn) for 2019.<\/p>\n\n\n\n

Lawrence Ho, Melco Group chairman and CEO, said: “Despite the challenges, we can see our integrated resorts experiencing a moderate recovery<\/strong> in business levels towards the fourth quarter of 2020.<\/p>\n\n\n\n

“This was substantiated by the positive Property EBITDA for the Macau operations<\/strong>, as well as our global operations as a whole in the fourth quarter of the year.”<\/p>\n\n\n\n

Melco Resorts & Entertainment reported an 85 per cent drop in revenue year-on-year for the third quarter<\/a><\/em> (Q3) of 2020.<\/p>\n\n\n\n

Melco reopens N\u00fcwa hotel at Macau<\/h2>\n\n\n\n

Melco Resorts and Entertainment\u2019s revamped N\u00fcwa<\/a><\/em> <\/strong>at\u00a0the City of Dreams complex in Macau reopened yesterday<\/strong>, March 31, after more than a year of renovation.\u00a0The hotel is now accepting bookings.<\/p>\n\n\n\n

The company had expected to reopen the revamped hotel, which has\u00a0around 300 accommodations units, on February 8, but opening was delayed<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Melco International Development has reported that net revenues were down 70.2 per cent year-on-year to HK$13.42bn (US$1.73bn).<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Melco International Development reported a 70.2% year-on-year decline in net revenues to HK$13.42bn and a HK$12.38bn loss after tax for 2020, primarily due to the COVID-19 pandemic's impact on its Asia and Europe operations. Despite these challenges, the group observed a moderate business recovery in Q4 2020, evidenced by positive Property EBITDA in Macau and globally. Concurrently, Melco Resorts & Entertainment reopened its revamped N\u00fcwa hotel at City of Dreams Macau after renovation delays.","focusai_entities":"Melco International Development, Melco Resorts & Entertainment, Melco Group, Lawrence Ho, N\u00fcwa, City of Dreams","focusai_location":"Macau, Asia, Europe","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9), marketing_crm (0.7)","focusai_suggestions":[{"label":"Q1 2021 Recovery Outlook","query":"What specific operational metrics and market conditions are indicative of Melco's continued recovery trajectory into Q1 2021, particularly concerning VIP and mass-market segments in Macau?"},{"label":"N\u00fcwa Strategic Impact","query":"How is the reopening of the N\u00fcwa hotel positioned to enhance Melco's competitive standing and drive incremental GGR within the Macau integrated resort market, considering current visitation trends and capacity constraints?"}],"footnotes":""},"categories":[16338,163],"tags":[23906,665],"class_list":["post-16516","post","type-post","status-publish","format-standard","hentry","category-east-asia-news","category-finance-news","tag-macau-casinos","tag-melco"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=16516"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16516\/revisions"}],"predecessor-version":[{"id":16552,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16516\/revisions\/16552"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=16516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=16516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=16516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}