Melco Resorts & Entertainment has reported total operating revenues of US$566.4m for the second quarter of 2021, up 222 per cent.<\/p>\n\n\n\n\n\n\n\n
Macau.-\u00a0Melco Resorts & Entertainment\u00a0<\/strong>has reported revenue of US$566.4m for Q2, up 222 per cent<\/strong>\u00a0from US$175.9m in Q2 2020.<\/p>\n\n\n\n The company attributed the increase to\u00a0improved performance in all gaming segments\u00a0<\/strong>and non-gaming operations as a result of an increase in inbound tourism in Macau.<\/p>\n\n\n\n It reported an operating loss of US$128.1m<\/strong>, while Adjusted Property EBITDA was US$79.1m, compared with negative US$156.3m in the second quarter of 2020.<\/p>\n\n\n\n Lawrence Ho<\/strong>, group chairman and CEO, said: \u201cWe are pleased to see a progressive recovery in business levels during the second quarter of 2021 in our integrated resorts, despite the challenges that we have faced as a result of the Covid-19 pandemic<\/strong> and related travel restrictions. <\/p>\n\n\n\n “Mass and premium mass-market players have proven to be the primary drivers of the recovery this quarter and are expected to be going forward as we continue to dedicate our resources<\/strong> toward these segments of the market.”<\/p>\n\n\n\n He said the company remains optimistic on its Macau market outlook, especially as Macau explores scenarios for\u00a0more flexible travel<\/a>\u00a0with other cities in the Greater Bay area.<\/p>\n\n\n\n The company also made reference to the expansion of\u00a0Studio City<\/a>. The Macau government has approved a request for\u00a0a seven-month delay\u00a0<\/strong>to complete the phase 2 expansion, taking it to\u00a0<\/strong>December 27, 2022.<\/p>\n\n\n\n In July, Melco launched a\u00a0share purchase plan for eligible employees<\/a>\u00a0who agreed to participate in the company\u2019s voluntary leave programme.<\/p>\n\n\n\n Melco said the programme aims \u201cto recognize the dedication and commitment of its employees<\/strong> and provide eligible employees the opportunity to benefit from the Company\u2019s long-term growth.\u201d<\/p>\n\n\n\n The programme will allow\u00a0eligible employees to use a portion of their salaries\u00a0<\/strong>from July 2021 to June 2022, to purchase and receive a grant of restricted shares under the Melco Resorts 2011 Share Incentive Plan. <\/p>\n\n\n\n