Melco shares financial reports

Melco Resorts & Entertainment has completed a positive year during 2017 operations.

Macau.- Melco Resorts & Entertainment grew 17.7 per cent last year, according to the company’s final report published this week. Macau casino performances leaded by Melco helped the company to achieve US$5.3 billion during the full year of 2017, showing great increase compared to 2016’s operations.

Lawrence Ho, chairman and chief executive officer in a filing, said Melco has also embarked on a series of property upgrades at Studio City, which will “refine the entertainment offerings and improve accessibility into the resort.” And added: “We will also continue to explore the phase 2 expansion of Studio City which we believe will augment the existing room inventory and entertainment offerings and contribute to the continued growth and development of this property.”

Adjusted property EBITDA for the year ended December 31, 2017 was US$1.4 billion, up 31 per cent year-on-year, while net income attributed to Melco Resorts was US$347.0 million, revealed the last report published by AGBrief.

“Lastly, Japan continues to be a core focus of ours. With the passage of the Integrated Resorts (IR) implementation bill, the country will take a major step forward toward the development of the next generation of integrated resorts that will operate in this incredibly exciting, yet currently underpenetrated, tourism destination. With our high quality assets, dedication to world-class entertainment offerings, market-leading social safeguards and compliance culture, and commitment to being an ideal partner to local governments and communities alike, we believe Melco is in a strong position to help Japan realize the vision for integrated resort development with unique Japanese touch,” concluded Ho.