Melco Resorts & Entertainment has agreed to extend the facility to 2027.<\/p>\n\n\n\n\n\n\n\n
Macau.-\u00a0Melco Resorts & Entertainment Limited\u00a0<\/strong>has announced that it has extended the maturity date for its HK$14.85bn (US$1.92bn) “2020 Credit Facilities,” from April 29, 2025, to April 29, 2027. Based on a senior facilities agreement of April 29, 2020, the agreement was modified and reestablished on June 29, 2023 to include the Secured Overnight Financing Rate as a benchmark rate for loans denominated in US dollars.<\/p>\n\n\n\n The new extension was formalised through a second amended and restated facility agreement dated April 8, 2024. Key terms such as facility size, pricing, and financial covenants remain unaltered. , MCO Nominee One agreed to pay a customary fee to the consenting lenders.<\/p>\n\n\n\n In March, Melco reported operating revenue of US$1.09bn for Q4<\/a>, up 224 per cent in year-on-year terms. The increase was attributed to the improved performance in all gaming segments and non-gaming operations following the relaxation of Covid-19 countermeasures in Macau in January 2023 and the opening of Studio City Phase II<\/a>.<\/p>\n\n\n\n The company reported an operating loss of US$94.4m, compared with an operating loss of US$199.5m in the fourth quarter of 2022. The group\u2019s adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA) was US$303.4m compared with negative US$6.8m.<\/p>\n\n\n\n Net loss attributable to Melco Resorts & Entertainment Limited was of US$156.6m. The net loss attributable to noncontrolling interests was US$20.8m, all related to Studio City, City of Dreams Manila and Cyprus Operations.<\/p>\n","protected":false},"excerpt":{"rendered":" Melco Resorts & Entertainment has agreed to extend the facility to 2027.<\/p>\n","protected":false},"author":176,"featured_media":19449,"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 has extended its HK$14.85bn (US$1.92bn) credit facility maturity to April 29, 2027, maintaining existing terms and incorporating SOFR as a benchmark. This financial maneuver coincides with a significant Q4 2023 operational recovery, driven by Macau's post-COVID resurgence and the opening of Studio City Phase II, reducing operating losses and achieving positive adjusted property EBITDA.","focusai_entities":"Melco Resorts & Entertainment Limited, MCO Nominee One, Studio City, City of Dreams Manila, Cyprus Operations","focusai_location":"Macau, Cyprus, Manila","focusai_target_profile":"ceo_executive (1.0), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Capital Structure Impact","query":"How does the extended credit facility, particularly with SOFR benchmarking, influence Melco's long-term capital structure and its capacity for future M&A or development projects?"},{"label":"Macau Recovery Outlook","query":"Given the Q4 performance driven by Macau's recovery and Studio City Phase II, what are the projected GGR and NGR growth trajectories for Melco in the Macau market for FY2024, and what are the key operational drivers?"}],"footnotes":""},"categories":[16338,163],"tags":[23970],"class_list":["post-777014567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-melco-resorts-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014567","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=777014567"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014567\/revisions"}],"predecessor-version":[{"id":777014592,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014567\/revisions\/777014592"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19449"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777014567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777014567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777014567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}