Studio City International Holdings Limited (NYSE: MSC) (“Studio
City” or the “Company”), a world-class integrated resort located in
Cotai, Macau, today reported its unaudited financial results for
the first quarter of 2021.
Total operating revenues for the first quarter
of 2021 were US$28.6 million, compared to total operating revenues
of US$37.1 million in the first quarter of 2020. The decrease in
total operating revenues was due to the decrease in revenues from
the provision of gaming related services and lower non-gaming
revenues as a result of the COVID-19 pandemic, which resulted in a
year-over-year decline in inbound tourism in the first quarter of
2021 since the first quarter of 2020 was only partially impacted by
the restrictions from the COVID-19 pandemic.
Revenues from the provision of gaming related
services are derived from the provision of facilities for the
operations of Studio City Casino by Melco Resorts (Macau) Limited
(the “Gaming Operator”), a subsidiary of Melco Resorts &
Entertainment Limited (“Melco”) and holder of a gaming
subconcession, and services related thereto.
Studio City Casino generated gross gaming
revenues of US$98.5 million and US$146.7 million for the first
quarters of 2021 and 2020, respectively.
Studio City’s rolling chip volume was US$0.50
billion for the first quarter of 2021 versus US$1.38 billion in the
first quarter of 2020. The rolling chip win rate was 0.29% in the
first quarter of 2021 versus 3.31% in the first quarter of 2020.
The expected rolling chip win rate range is 2.85% - 3.15%.
Mass market table games drop decreased to
US$309.3 million in the first quarter of 2021, compared with
US$352.8 million in the first quarter of 2020. The mass market
table games hold percentage was 29.1% in the first quarter of 2021,
compared to 25.9% in the first quarter of 2020.
Gaming machine handle for the first quarter of
2021 was US$278.3 million, compared with US$311.1 million in the
first quarter of 2020. The gaming machine win rate was 2.5% in the
first quarter of 2021, compared to 3.2% in the first quarter of
2020.
Total gaming taxes and the costs incurred in
connection with the operation of Studio City Casino deducted from
gross gaming revenues were US$97.3 million and US$141.2 million in
the first quarters of 2021 and 2020, respectively.
Revenues from the provision of gaming related
services were US$1.2 million for the first quarter of 2021,
compared with revenues from the provision of gaming related
services of US$5.5 million for the first quarter of 2020. Revenues
from the provision of gaming related services are net of gaming
taxes and the costs incurred in connection with the operation of
Studio City Casino deducted by the Gaming Operator pursuant to the
Services and Right to Use Arrangements.
Total non-gaming revenues at Studio City for the
first quarter of 2021 were US$27.3 million, compared with US$31.6
million for the first quarter of 2020.
Operating loss for the first quarter of 2021 was
US$45.1 million, compared with operating loss of US$63.4 million in
the first quarter of 2020.
Studio City generated negative Adjusted
EBITDA(1) of US$13.4 million in the first quarter of 2021, compared
to negative Adjusted EBITDA of US$18.2 million in the first quarter
of 2020. The change was mainly attributable to the lower operating
costs as a result of lower business volumes and our cost
containment efforts, partially offset by the decrease in revenues
from the provision of gaming related services and lower non-gaming
revenues.
Net loss attributable to Studio City
International Holdings Limited for the first quarter of 2021 was
US$75.8 million, compared with net loss attributable to Studio City
International Holdings Limited of US$70.9 million in the first
quarter of 2020. The net loss attributable to participation
interest was US$14.8 million and US$21.3 million in the first
quarters of 2021 and 2020, respectively.
Other Factors Affecting
Earnings
Total net non-operating expenses for the first
quarter of 2021 were US$45.4 million, which mainly included loss on
extinguishment of debt of US$28.8 million and interest expenses of
US$23.2 million, net of amounts capitalized, partially offset by
net foreign exchange gains of US$5.7 million.
Depreciation and amortization costs of US$31.6
million were recorded in the first quarter of 2021, of which US$0.8
million was related to the amortization expense for the land use
right.
The negative Adjusted EBITDA for Studio City for
the three months ended March 31, 2021 referred to in Melco’s
earnings release dated April 28, 2021 (“Melco’s earnings release”)
is US$8.2 million less than the negative Adjusted EBITDA of Studio
City contained in this press release. The Adjusted EBITDA of Studio
City contained in this press release includes certain intercompany
charges that are not included in the Adjusted EBITDA for Studio
City contained in Melco’s earnings release. Such intercompany
charges include, among other items, fees and shared service charges
billed between the Company and its subsidiaries and certain
subsidiaries of Melco. Additionally, Adjusted EBITDA of Studio City
included in Melco’s earnings release does not reflect certain
intercompany costs related to the table games operations at Studio
City Casino.
Financial Position and Capital
Expenditures
Total cash and bank balances as of March 31,
2021 aggregated to US$543.5 million (December 31, 2020: US$575.4
million), including US$0.1 million of restricted cash (December 31,
2020: US$0.1 million). Total debt, net of unamortized deferred
financing costs at the end of the first quarter of 2021, was
US$1.73 billion (December 31, 2020: US$1.58 billion).
Capital expenditures for the first quarter of
2021 were US$78.3 million.
Recent Developments
The COVID-19 outbreak continues to have a
material effect on our operations, financial position, and
prospects during the second quarter of 2021.
Despite the nationwide resumption of issuance of
Individual Visit Scheme visas by China in September 2020, our
operations continue to be impacted by significant travel bans,
restrictions, and quarantine requirements imposed by the
governments in Macau, Hong Kong and China, and such bans,
restrictions and requirements have been, and may continue to be,
modified by the relevant authorities from time to time as COVID-19
developments unfold. Additionally, health-related precautionary
measures remain in place at our property, which continue to impact
visitation and customer spending. Furthermore, we continue to
monitor the impact of COVID-19 on the construction of Studio City
Phase 2. Prior to the COVID-19 outbreak, we estimated a
construction period of approximately 32 months for Phase 2. With
the disruptions from the COVID-19 outbreak, the construction period
has been delayed and is expected to extend beyond the estimated 32
months and the current development period.
As the disruptions from the COVID-19 outbreak
are ongoing, any recovery from such disruptions will depend on
future events, such as the successful production, distribution and
widespread acceptance of safe and effective vaccines, the
development of effective treatments for COVID-19, including for new
strains of COVID-19, the duration of travel and visa restrictions
as well as customer sentiment and behavior, including the length of
time before customers resume traveling and participating in
entertainment and leisure activities at high-density venues and the
impact of potential higher unemployment rates, declines in income
levels and loss of personal wealth resulting from the COVID-19
outbreak on consumer behavior related to discretionary spending and
traveling, all of which are highly uncertain.
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. Studio City International Holdings 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 pandemic of
COVID-19, 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) growth of the gaming market and
visitations in Macau, (iii) capital and credit market volatility,
(iv) local and global economic conditions, (v) our anticipated
growth strategies, (vi) gaming authority and other governmental
approvals and regulations, and (vii) 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.
Non-GAAP Financial Measures
(1) "Adjusted EBITDA" is defined as net
income/loss before interest, taxes, depreciation, amortization,
pre-opening costs, property charges and other and other
non-operating income and expenses. We believe that Adjusted EBITDA
provides useful information to investors and others in
understanding and evaluating our operating results. This non-GAAP
financial measure eliminates the impact of items that we do not
consider indicative of the performance of our business. While we
believe that this non-GAAP financial measure is useful in
evaluating our business, this information should be considered as
supplemental in nature and is not meant as a substitute for the
related financial information prepared in accordance with U.S.
GAAP. It should not be considered in isolation or construed as an
alternative to net income/loss, cash flow or any other measure of
financial performance or as an indicator of our operating
performance, liquidity, profitability or cash flows generated by
operating, investing or financing activities. The use of Adjusted
EBITDA has material limitations as an analytical tool, as Adjusted
EBITDA does not include all items that impact our net income/loss.
In addition, the Company’s calculation of Adjusted EBITDA may be
different from the calculation methods used by other companies and,
therefore, comparability may be limited. Investors are encouraged
to review the reconciliation of the historical non-GAAP financial
measure to its most directly comparable GAAP financial measure.
Reconciliations of Adjusted EBITDA with the most comparable
financial measures calculated and presented in accordance with U.S.
GAAP are provided herein immediately following the financial
statements included in this press release.
(2) “Adjusted net income/loss” is net
income/loss before pre-opening costs, property charges and other
and loss on extinguishment of debt, net of participation interest.
Adjusted net income/loss is presented as supplemental disclosure
because management believes it provides useful information to
investors and others in understanding and evaluating our
performance, in addition to income/loss computed in accordance with
U.S. GAAP. Adjusted net income/loss may be different from the
calculation methods used by other companies and, therefore,
comparability may be limited. Reconciliations of adjusted net
income/loss attributable to Studio City International Holdings
Limited with the most comparable financial measures calculated and
presented in accordance with U.S. GAAP are provided herein
immediately following the financial statements included in this
press release.
About Studio City International Holdings
Limited
The Company, with its American depositary shares
listed on the New York Stock Exchange (NYSE: MSC), is a world-class
integrated resort located in Cotai, Macau. For more information
about the Company, please visit www.studiocity-macau.com.
The Company is strongly supported by its single
largest shareholder, Melco Resorts & Entertainment Limited, a
company with its American depositary shares listed on the Nasdaq
Global Select Market (Nasdaq: MLCO).
For the investment community, please
contact:Robin YuenDirector, Investor RelationsTel: +852
2598 3619Email: robinyuen@melco-resorts.com
For media enquiries, please
contact:Chimmy LeungExecutive Director, Corporate
CommunicationsTel: +852 3151 3765Email:
chimmyleung@melco-resorts.com
|
|
|
|
|
|
|
Studio City
International Holdings Limited and Subsidiaries |
|
Condensed
Consolidated Statements of Operations (Unaudited) |
|
(In
thousands of U.S. dollars, except share and per share
data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended |
|
|
March
31, |
|
|
2021 |
|
|
2020 |
|
|
|
|
|
|
|
|
|
Operating
revenues: |
|
|
|
|
|
|
Provision of gaming related services |
$ |
1,233 |
|
|
$ |
5,506 |
|
|
Rooms |
|
9,606 |
|
|
|
8,659 |
|
|
Food and beverage |
|
6,884 |
|
|
|
8,199 |
|
|
Entertainment |
|
294 |
|
|
|
868 |
|
|
Services fee |
|
6,799 |
|
|
|
8,757 |
|
|
Mall |
|
3,330 |
|
|
|
4,527 |
|
|
Retail and other |
|
418 |
|
|
|
557 |
|
|
Total
operating revenues |
|
28,564 |
|
|
|
37,073 |
|
|
|
|
|
|
|
|
|
Operating
costs and expenses: |
|
|
|
|
|
|
Provision of gaming related services |
|
(5,699 |
) |
|
|
(5,653 |
) |
|
Rooms |
|
(2,910 |
) |
|
|
(4,414 |
) |
|
Food and beverage |
|
(7,148 |
) |
|
|
(10,505 |
) |
|
Entertainment |
|
(569 |
) |
|
|
(1,218 |
) |
|
Mall |
|
(983 |
) |
|
|
(1,553 |
) |
|
Retail and other |
|
(361 |
) |
|
|
(365 |
) |
|
General and administrative |
|
(24,299 |
) |
|
|
(31,521 |
) |
|
Pre-opening costs |
|
(243 |
) |
|
|
(28 |
) |
|
Amortization of land use right |
|
(833 |
) |
|
|
(832 |
) |
|
Depreciation and amortization |
|
(30,756 |
) |
|
|
(39,960 |
) |
|
Property charges and other |
|
142 |
|
|
|
(4,405 |
) |
|
Total
operating costs and expenses |
|
(73,659 |
) |
|
|
(100,454 |
) |
|
Operating
loss |
|
(45,095 |
) |
|
|
(63,381 |
) |
|
Non-operating income (expenses): |
|
|
|
|
|
|
Interest income |
|
940 |
|
|
|
391 |
|
|
Interest expenses, net of amounts capitalized |
|
(23,168 |
) |
|
|
(25,779 |
) |
|
Other financing costs |
|
(104 |
) |
|
|
(104 |
) |
|
Foreign exchange gains (losses), net |
|
5,726 |
|
|
|
(3,402 |
) |
|
Other expenses, net |
|
- |
|
|
|
(88 |
) |
|
Loss on extinguishment of debt |
|
(28,817 |
) |
|
|
- |
|
|
Total
non-operating expenses, net |
|
(45,423 |
) |
|
|
(28,982 |
) |
|
Loss before
income tax |
|
(90,518 |
) |
|
|
(92,363 |
) |
|
Income tax
(expense) credit |
|
(83 |
) |
|
|
210 |
|
|
Net
loss |
|
(90,601 |
) |
|
|
(92,153 |
) |
|
Net loss
attributable to participation interest |
|
14,834 |
|
|
|
21,259 |
|
|
Net loss
attributable to Studio City International Holdings Limited |
$ |
(75,767 |
) |
|
$ |
(70,894 |
) |
|
|
|
|
|
|
|
|
Net loss
attributable to Studio City International Holdings Limited |
|
|
|
|
|
|
per Class A ordinary share: |
|
|
|
|
|
|
Basic and diluted |
$ |
(0.205 |
) |
|
$ |
(0.293 |
) |
|
|
|
|
|
|
|
|
Net loss
attributable to Studio City International Holdings Limited per
ADS: |
|
|
|
|
|
|
Basic and diluted |
$ |
(0.818 |
) |
|
$ |
(1.173 |
) |
|
|
|
|
|
|
|
|
Weighted
average Class A ordinary shares outstanding used in net loss |
|
|
|
|
|
|
attributable to Studio City International Holdings
Limited per Class A |
|
|
|
|
|
|
ordinary share calculation: |
|
|
|
|
|
|
Basic and diluted |
|
370,352,700 |
|
|
|
241,818,016 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Studio City
International Holdings Limited and Subsidiaries |
|
Condensed
Consolidated Balance Sheets |
|
(In
thousands of U.S. dollars, except share and per share
data) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March
31, |
|
December
31, |
|
|
2021 |
|
2020 |
|
|
(Unaudited) |
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
assets: |
|
|
|
|
|
|
Cash and cash equivalents |
$ |
543,364 |
|
|
$ |
575,215 |
|
|
Restricted cash |
|
13 |
|
|
|
13 |
|
|
Accounts receivable, net |
|
91 |
|
|
|
157 |
|
|
Amounts due from affiliated companies |
|
13,057 |
|
|
|
10,672 |
|
|
Inventories |
|
8,857 |
|
|
|
9,297 |
|
|
Prepaid expenses and other current assets |
|
10,462 |
|
|
|
12,467 |
|
|
Total
current assets |
|
575,844 |
|
|
|
607,821 |
|
|
|
|
|
|
|
|
|
Property and
equipment, net |
|
2,224,693 |
|
|
|
2,180,897 |
|
|
Intangible
assets, net |
|
3,839 |
|
|
|
4,005 |
|
|
Long-term
prepayments, deposits and other assets |
|
114,265 |
|
|
|
117,555 |
|
|
Restricted
cash |
|
130 |
|
|
|
131 |
|
|
Operating
lease right-of-use assets |
|
17,290 |
|
|
|
17,379 |
|
|
Land use
right, net |
|
114,931 |
|
|
|
116,109 |
|
|
Total
assets |
$ |
3,050,992 |
|
|
$ |
3,043,897 |
|
|
|
|
|
|
|
|
|
LIABILITIES, SHAREHOLDERS’ EQUITY AND |
|
|
|
|
|
|
PARTICIPATION INTEREST |
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities: |
|
|
|
|
|
|
Accounts payable |
$ |
476 |
|
|
$ |
206 |
|
|
Accrued expenses and other current liabilities |
|
82,499 |
|
|
|
118,946 |
|
|
Income tax payable |
|
12 |
|
|
|
33 |
|
|
Amounts due to affiliated companies |
|
36,478 |
|
|
|
42,966 |
|
|
Total
current liabilities |
|
119,465 |
|
|
|
162,151 |
|
|
|
|
|
|
|
|
|
Long-term
debt, net |
|
1,733,509 |
|
|
|
1,584,660 |
|
|
Other
long-term liabilities |
|
16,299 |
|
|
|
11,778 |
|
|
Deferred tax
liabilities, net |
|
551 |
|
|
|
448 |
|
|
Operating
lease liabilities, non-current |
|
17,311 |
|
|
|
17,137 |
|
|
Total
liabilities |
|
1,887,135 |
|
|
|
1,776,174 |
|
|
|
|
|
|
|
|
|
Shareholders’ equity and participation interest: |
|
|
|
|
|
|
Class A ordinary shares, par value $0.0001;
1,927,488,240 shares |
|
|
|
|
authorized; 370,352,700 shares issued and
outstanding |
|
37 |
|
|
|
37 |
|
|
Class B ordinary shares, par value $0.0001; 72,511,760
shares |
|
|
|
|
|
authorized; 72,511,760 shares issued and
outstanding |
|
7 |
|
|
|
7 |
|
|
Additional paid-in capital |
|
2,134,227 |
|
|
|
2,134,227 |
|
|
Accumulated other comprehensive income |
|
783 |
|
|
|
11,876 |
|
|
Accumulated losses |
|
(1,161,927 |
) |
|
|
(1,086,160 |
) |
|
Total
shareholders’ equity |
|
973,127 |
|
|
|
1,059,987 |
|
|
Participation interest |
|
190,730 |
|
|
|
207,736 |
|
|
Total
shareholders’ equity and participation interest |
|
1,163,857 |
|
|
|
1,267,723 |
|
|
Total
liabilities, shareholders’ equity and participation interest |
$ |
3,050,992 |
|
|
$ |
3,043,897 |
|
|
|
|
|
|
|
|
|
Studio City
International Holdings Limited and Subsidiaries |
|
Reconciliation of Net Loss Attributable to Studio City
International Holdings Limited to |
|
Adjusted Net
Loss Attributable to Studio City International Holdings Limited
(Unaudited) |
|
(In
thousands of U.S. dollars, except share and per share
data) |
|
|
|
|
|
|
|
|
|
Three Months
Ended |
|
|
March
31, |
|
|
2021 |
|
2020 |
|
|
|
|
|
|
|
|
Net loss
attributable to Studio City International Holdings Limited |
$ |
(75,767 |
) |
|
$ |
(70,894 |
) |
|
Pre-opening costs |
|
243 |
|
|
|
28 |
|
|
Property charges and other |
|
(142 |
) |
|
|
4,405 |
|
|
Loss on extinguishment of debt |
|
28,817 |
|
|
|
- |
|
|
Participation interest impact on adjustments |
|
(4,735 |
) |
|
|
(1,023 |
) |
|
Adjusted net
loss attributable to |
|
|
|
|
|
|
Studio City International Holdings Limited |
$ |
(51,584 |
) |
|
$ |
(67,484 |
) |
|
|
|
|
|
|
|
|
Adjusted net loss attributable to Studio City International
Holdings Limited |
|
|
|
|
per Class A ordinary share: |
|
|
|
|
|
|
Basic and diluted |
$ |
(0.139 |
) |
|
$ |
(0.279 |
) |
|
|
|
|
|
|
|
|
Adjusted net loss attributable to Studio City International
Holdings Limited |
|
|
|
|
per ADS: |
|
|
|
|
|
|
Basic and diluted |
$ |
(0.557 |
) |
|
$ |
(1.116 |
) |
|
|
|
|
|
|
|
|
Weighted average Class A ordinary shares outstanding used in
adjusted |
|
|
|
|
net loss attributable to Studio City International
Holdings Limited |
|
|
|
|
|
|
per Class A ordinary share calculation: |
|
|
|
|
|
|
Basic and diluted |
|
370,352,700 |
|
|
|
241,818,016 |
|
|
|
|
|
|
|
|
|
Studio City
International Holdings Limited and Subsidiaries |
|
Reconciliation of Operating Loss to Adjusted EBITDA
(Unaudited) |
|
(In
thousands of U.S. dollars) |
|
|
|
|
|
|
|
|
|
Three Months
Ended |
|
|
March
31, |
|
|
2021 |
|
2020 |
|
|
|
|
|
|
Operating
loss |
$ |
(45,095 |
) |
|
$ |
(63,381 |
) |
|
Pre-opening costs |
|
243 |
|
|
|
28 |
|
|
Depreciation and amortization |
|
31,589 |
|
|
|
40,792 |
|
|
Property charges and other |
|
(142 |
) |
|
|
4,405 |
|
|
Adjusted
EBITDA |
$ |
(13,405 |
) |
|
$ |
(18,156 |
) |
|
|
|
|
|
|
|
|
Studio City
International Holdings Limited and Subsidiaries |
|
Reconciliation of Net Loss Attributable to Studio City
International Holdings Limited |
|
to
Adjusted EBITDA (Unaudited) |
|
(In
thousands of U.S. dollars) |
|
|
|
|
|
|
|
|
|
Three Months
Ended |
|
|
March
31, |
|
|
2021 |
|
2020 |
|
|
|
|
|
|
Net loss
attributable to Studio City International Holdings Limited |
$ |
(75,767 |
) |
|
$ |
(70,894 |
) |
|
Net loss
attributable to participation interest |
|
(14,834 |
) |
|
|
(21,259 |
) |
|
Net
loss |
|
(90,601 |
) |
|
|
(92,153 |
) |
|
Income tax expense (credit) |
|
83 |
|
|
|
(210 |
) |
|
Interest and other non-operating expenses,
net |
|
45,423 |
|
|
|
28,982 |
|
|
Property charges and other |
|
(142 |
) |
|
|
4,405 |
|
|
Depreciation and amortization |
|
31,589 |
|
|
|
40,792 |
|
|
Pre-opening costs |
|
243 |
|
|
|
28 |
|
|
Adjusted
EBITDA |
$ |
(13,405 |
) |
|
$ |
(18,156 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Studio City
International Holdings Limited and Subsidiaries |
|
|
Supplemental
Data Schedule |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended |
|
|
|
|
|
|
|
|
|
March
31, |
|
|
|
|
|
|
|
|
|
2021 |
|
2020 |
|
|
|
Room
Statistics(3): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average daily rate (4) |
|
|
$ |
121 |
|
|
$ |
137 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Occupancy per available room |
|
|
50 |
% |
|
|
43 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue per available room (5) |
|
$ |
60 |
|
|
$ |
58 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
Information(6): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average number of table games |
|
|
292 |
|
|
|
252 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average number of gaming machines |
|
|
604 |
|
|
|
747 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Table games win per unit per day (7) |
|
$ |
3,476 |
|
|
$ |
7,051 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gaming machines win per unit per day (8) |
$ |
130 |
|
|
$ |
174 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(3) |
Room statistics exclude rooms that were temporarily closed or
provided to staff members due to the COVID-19 outbreak |
|
(4) |
Average daily rate is calculated by dividing total room revenues
including complimentary rooms (less service charges, if any) by
total occupied rooms including complimentary rooms |
|
(5) |
Revenue per available room is calculated by dividing total room
revenues including complimentary rooms (less service charges, if
any) by total rooms available |
|
(6) |
Table games and gaming machines that were not in operation due to
government-mandated closures or social distancing measures in
relation to the COVID-19 outbreak have been excluded |
|
(7) |
Table games win per unit per day is shown before discounts,
commissions, non-discretionary incentives (including the
point-loyalty programs) as administered by the Gaming Operator and
allocating casino revenues related to goods and services provided
to gaming patrons on a complimentary basis |
|
(8) |
Gaming machines win per unit per day is shown before
non-discretionary incentives (including the point-loyalty programs)
as administered by the Gaming Operator and allocating casino
revenues related to goods and services provided to gaming patrons
on a complimentary basis |
|
Studio City (NYSE:MSC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Studio City (NYSE:MSC)
Historical Stock Chart
From Sep 2023 to Sep 2024