Melco Announces Submission of Tender Proposal for Gaming Concession
September 14 2022 - 12:02AM
Melco Resorts & Entertainment Limited (Nasdaq: MLCO), a
developer, owner and operator of integrated resort facilities in
Asia and Europe, announces that today, on September 14, 2022, Melco
Resorts (Macau) Limited, a subsidiary of the Company, submitted its
detailed proposal in relation to the public tender for new gaming
concessions launched by the Macau Government in July this year.
Mr. Lawrence Ho, Chairman and Chief Executive
Officer commented, “I would like to thank the Macau government for
this opportunity. Our proposal reinforces our commitment to Macau
and the further diversification of its economy. We look forward to
playing a leadership role in partnering with the Macau government
to execute on the government’s vision.”
Safe Harbor Statement
This press release contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Melco Resorts & Entertainment Limited (the “Company”) may
also make forward-looking statements in its periodic reports to the
U.S. Securities and Exchange Commission (the “SEC”), in its annual
report to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Statements that are not historical
facts, including statements about the Company’s beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties, and a number
of factors could cause actual results to differ materially from
those contained in any forward-looking statement. These factors
include, but are not limited to, (i) the global COVID-19 outbreak,
caused by a novel strain of the coronavirus, and the continued
impact of its consequences on our business, our industry and the
global economy, (ii) risks associated with the newly adopted gaming
law in Macau and its implementation by the Macau government and our
ability to obtain a new concession under the public tender being
conducted by the Macau government and the terms and conditions of a
new concession, if we are granted one, (iii) growth of the gaming
market and visitations in Macau, the Philippines and the Republic
of Cyprus, (iv) capital and credit market volatility, (v) local and
global economic conditions, (vi) our anticipated growth strategies,
(vii) gaming authority and other governmental approvals and
regulations, and (viii) our future business development, results of
operations and financial condition. In some cases, forward-looking
statements can be identified by words or phrases such as “may”,
“will”, “expect”, “anticipate”, “target”, “aim”, “estimate”,
“intend”, “plan”, “believe”, “potential”, “continue”, “is/are
likely to” or other similar expressions. Further information
regarding these and other risks, uncertainties or factors is
included in the Company’s filings with the SEC. All information
provided in this press release is as of the date of this press
release, and the Company undertakes no duty to update such
information, except as required under applicable law.
About Melco Resorts & Entertainment
Limited
The Company, with its American depositary shares
listed on the Nasdaq Global Select Market (Nasdaq: MLCO), is a
developer, owner and operator of integrated resort facilities in
Asia and Europe. The Company currently operates Altira Macau
(www.altiramacau.com), an integrated resort located at Taipa, Macau
and City of Dreams (www.cityofdreamsmacau.com), an integrated
resort located in Cotai, Macau. Its business also includes the
Mocha Clubs (www.mochaclubs.com), which comprise the largest
non-casino based operations of electronic gaming machines in Macau.
The Company also majority owns and operates Studio City
(www.studiocity-macau.com), a cinematically-themed integrated
resort in Cotai, Macau. In the Philippines, a Philippine subsidiary
of the Company currently operates and manages City of Dreams Manila
(www.cityofdreamsmanila.com), an integrated resort in the
Entertainment City complex in Manila. In Europe, the Company is
currently developing City of Dreams Mediterranean
(www.cityofdreamsmed.com.cy) in the Republic of Cyprus, which is
expected to be the largest and premier integrated destination
resort in Europe. The Company is currently operating a temporary
casino, the first authorized casino in the Republic of Cyprus, and
is licensed to operate four satellite casinos (“Cyprus Casinos”).
Upon the opening of City of Dreams Mediterranean, the Company will
continue to operate the satellite casinos while operation of the
temporary casino will cease. For more information about the
Company, please visit www.melco-resorts.com.
The Company is strongly supported by its single
largest shareholder, Melco International Development Limited, a
company listed on the Main Board of The Stock Exchange of Hong Kong
Limited and is substantially owned and led by Mr. Lawrence Ho, who
is the Chairman, Executive Director and Chief Executive Officer of
the Company.
For the investment community, please
contact:Jeanny Kim Senior Vice President, Group
TreasurerTel: +852 2598 3698Email:
jeannykim@melco-resorts.com
For media enquiries, please contact:Chimmy
LeungExecutive Director, Corporate Communications Tel: +852 3151
3765Email: chimmyleung@melco-resorts.com
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