Melco Announces Provisional Award of Gaming Concession
November 25 2022 - 10:14PM
Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (“Melco”
or the “Company”), a developer, owner and operator of integrated
resort facilities in Asia and Europe, today announces that the
Macau government has provisionally awarded a ten-year concession to
operate games of fortune and chance in casinos in Macau to Melco
Resorts (Macau) Limited, a subsidiary of the Company. The final
award of such concession, and the terms and conditions of the
concession contract, remain subject to the determination of the
Macau government.
Mr. Lawrence Ho, Chairman and Chief
Executive Officer of Melco commented, “We are honored to
have been selected and granted a provisional award for the
concession to operate gaming in Macau and would like to thank the
Macau government for running a smooth and transparent process. We
are committed to Macau and its development as Asia’s premier
tourist destination.”
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
final award of a new concession under the public tender being
conducted by the Macau government and the terms and conditions of
the concession contract, 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 KimSenior Vice President, Group
TreasurerTel: +852 2598 3698Email: jeannykim@melco-resorts.com
For media enquiries, please
contact:Chimmy LeungExecutive Director, Corporate
CommunicationsTel: +852 3151 3765Email:
chimmyleung@melco-resorts.com
Melco Resorts and Entert... (NASDAQ:MLCO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Melco Resorts and Entert... (NASDAQ:MLCO)
Historical Stock Chart
From Apr 2023 to Apr 2024