{"id":29626,"date":"2022-05-06T06:47:09","date_gmt":"2022-05-06T09:47:09","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=29626"},"modified":"2026-04-23T08:57:50","modified_gmt":"2026-04-23T11:57:50","slug":"melco-resorts-posts-net-loss-of-us183-3m-for-q1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/melco-resorts-posts-net-loss-of-us183-3m-for-q1","title":{"rendered":"Melco Resorts posts net loss of US$183.3m for Q1"},"content":{"rendered":"\n

Melco Resorts has shared its financial results for the first quarter of the year 2022, reporting a reduced net loss.<\/p>\n\n\n\n\n\n\n\n

Macau.-\u00a0Melco Resorts & Entertainment\u00a0<\/strong>has reported a reduction of first-quarter net losses from US$232.9m to US$183.3m year-on-year. However, operating revenues were US$474.9m, down 8.5 per cent year-on-year and down 1.2 when\u00a0compared to the previous quarter<\/a>.<\/p>\n\n\n\n

The company attributed the decline to “heightened border restrictions in Macau related to Covid-19 which led to a softer performance in the mass-market table games segment.”<\/p>\n\n\n\n

(EBITDA) came in at US$56m.\u00a0Adjusted property EBITDA declined by 40.4 per cent.<\/strong><\/p>\n\n\n\n

Lawrence Ho<\/strong>, group chairman and CEO, said: “We saw a relatively solid performance across all of our segments in Macau through the Chinese New Year holiday period in early February, but an increase of Covid cases in mainland China and tighter border controls led to Macau gross gaming revenue falling more than 50 per cent from February to March 2022.”<\/p>\n\n\n\n

The company’s CEO also confirmed that\u00a0Studio City\u2019s Phase II construction<\/a>\u00a0is expected to be finished by September.<\/p>\n\n\n\n

City of Dreams Manila operating revenues up 9.3 per cent <\/h2>\n\n\n\n

Melco\u00a0<\/strong>also shared financial results for City of Dreams<\/strong> in the Philippines. It collected US$86.9m in operating revenues. The figure was up 9.3 per cent year-on-year and up 3.6 per cent when compared to the previous quarter. The casino posted US$33.0m in adjusted property EBITDA. Gaming rolling chip volume was US$647.9m and mass play was US$127.3m.<\/p>\n\n\n\n

Ho said: “We have been operating our casino at 100-per cent capacity\u00a0since March 1,<\/a>\u00a0when Covid-related restrictions were reduced to alert level 1.\u00a0We are starting to see international travel return, and in April we saw daily volumes reach close to 80 per cent of pre-Covid levels.”<\/p>\n\n\n\n

Melco Cyprus posts an operating revenue of US$16.1m<\/h2>\n\n\n\n

The company also shared financial results for Melco Cyprus. Operating revenues stood at US$16.1m in the first quarter of the year. Adjusted EBITDA was US$0.9m in the first quarter, compared with negative adjusted EBITDA of US$6.4m in the prior-year period.<\/p>\n","protected":false},"excerpt":{"rendered":"

Melco Resorts has shared its financial results for the first quarter of the year 2022, reporting a reduced net loss.<\/p>\n","protected":false},"author":176,"featured_media":25856,"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 Resorts & Entertainment reported a reduced net loss in Q1 2022, despite an 8.5% year-on-year decline in operating revenues, primarily due to heightened COVID-19 border restrictions impacting Macau's mass-market segment. Conversely, City of Dreams Manila demonstrated strong recovery with a 9.3% increase in operating revenues, nearing pre-pandemic volumes, while Melco Cyprus also showed improved performance.","focusai_entities":"Melco Resorts & Entertainment, Lawrence Ho, Studio City, City of Dreams Manila, Melco Cyprus","focusai_location":"Macau, Philippines, Cyprus","focusai_target_profile":"ceo_executive (1.0), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau GGR Mitigation?","query":"Given the persistent border restrictions in Macau, what specific operational adjustments or cost-saving initiatives are being implemented to mitigate further GGR erosion in the mass-market segment for the remainder of FY2022?"},{"label":"Philippines NGR Outlook?","query":"With City of Dreams Manila nearing pre-COVID volumes, what is the projected NGR contribution from the Philippines market to Melco's overall portfolio for H2 2022, and what are the key drivers for sustained growth in this jurisdiction?"}],"footnotes":""},"categories":[157,16338],"tags":[23970],"class_list":["post-29626","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-melco-resorts-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29626","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=29626"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29626\/revisions"}],"predecessor-version":[{"id":29632,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29626\/revisions\/29632"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25856"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=29626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=29626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=29626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}