MACAU, Jan. 01, 2023 (GLOBE NEWSWIRE) — Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (“Melco” or the “Company”) today announced that it will develop, own and operate integrated resort properties in Asia and Europe. going. his ten-year goodwill granted to our subsidiary, Melco Resorts (Macau) Limited (“Melco Resorts Macau”), to operate the Game of Fortune and Chance in a casino in Macau (the “Goodwill”); We are pleased to announce that has started today. In addition, each of Melco Resorts Macau and our subsidiaries, Altira Resorts Limited, COD Resorts Limited and Studio City Development Limited, which owns the land lease rights of the property in which Altira Casino and City of Dreams Casino are located, The gaming and gaming support areas comprising the Casino, City of Dreams Casino and Studio City Casino are 17,128.8 square meters, 31,227.3 square meters and 28,784.3 square meters respectively. The meters, and related gaming equipment and apparatus, have been returned to the Macau Special Administrative Region in accordance with the Macau Gaming Act. Pursuant to the Gambling Law of Macau and the terms of the Concession, the Macau SAR shall be transferred from the Macau SAR to Melco Resorts Macau for use in its operations during the Concession Period for a fee of MOP750.00 per square meter of the Casino. I was. From the first year of the concession to his third year follow the increase in the CPI in his second year and his third year of the concession. Fees increase to MOP2,500.00 per he square meter of casino for 4 to 10 years of concession. Subject to an increase in the consumer price index during the 5 to 10 years of the concession.
Melco Chairman and Chief Executive Officer Lawrence Ho “We are honored and grateful to have been awarded a 10-year gaming concession by the Macau Special Administrative Region Government. We are committed to fully supporting the sustainable and diversified development of Macau’s tourism and leisure industry, and are committed to working with governments, local communities and stakeholders to develop leading global businesses. It will benefit and contribute to the development of Macau as a tourist destination.”
safe harbor declaration
This press release contains forward-looking statements. These statements are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Melco Resorts & Entertainment Limited (the “Company”) may make forward-looking statements in its periodic reports to the United States Stock Exchange. Commission (“SEC”), annual reports to stockholders, press releases and other written materials, and oral statements made to third parties by their officers, directors or employees. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties and many factors could cause actual results to differ materially from those contained in forward-looking statements. These factors include (i) the global COVID-19 outbreak caused by a new strain of coronavirus, and the continuing impact of its consequences on our business, industry and the global economy; (ii) (iii) gaming market growth and visitor numbers 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 authorities and other governmental approvals and regulations, and (viii) our future business development, operating results and financials. Status. In some cases, forward-looking statements are “may”, “will”, “expect”, “anticipate”, “target”, “target”, “estimate”, “intend” ”, “plan”, “believe”, “could”, “continue”, “likely” or other similar expressions. Further information regarding these and other risks, uncertainties or factors can be found in our filings with the SEC. All information provided in this press release is current as of the date of this press release, and we undertake no obligation to update such information, except as required by applicable law.
About Melco Resorts & Entertainment Limited
Listed on the Nasdaq Global Select Market (Nasdaq: MLCO), the company develops, owns and operates integrated resort properties in Asia and Europe. The company currently operates Altira Macau (www.altiramacau.com), an integrated resort located in Taipa, Macau, and City of Dreams (www.cityofdreamsmacau.com), an integrated resort located in Cotai, Macau. . Its business also includes Mocha Clubs (www.mochaclubs.com), which constitutes the largest non-casino-based electronic gaming machine business in Macau. The Company also majority owns and operates Studio City (www.studiocity-macau.com), a film-themed integrated resort in Cotai, Macau. In the Philippines, our Philippine subsidiary currently operates and manages City of Dreams Manila (www.cityofdreamsmanila.com), an integrated resort within Manila’s Entertainment City complex. In Europe, we are currently developing City of Dreams Mediterranean (www.cityofdreamsmed.com.cy) in the Republic of Cyprus, which is expected to be Europe’s largest and best integrated resort. The Company currently operates a temporary casino, the first licensed casino in the Republic of Cyprus, and is licensed to operate four satellite casinos (“Cyprus Casinos”). With the opening of City of Dreams Mediterranean, we will continue to operate our satellite casinos, but we will cease operating our temporary casinos. For more company information, please visit www.melco-resorts.com.
The company is strongly supported by its sole largest shareholder, Melco International Development Limited. Melco International Development Limited is listed on the Main Board of the Stock Exchange of Hong Kong and is effectively owned and led by Chairman and Executive Director Mr Lawrence Ho. Our Chief Executive Officer.
For the investment community, please contact:
Jeannie Kim
Senior Vice President, Group Treasurer
Phone: +852 2598 3698
Email: jeannykim@melco-resorts.com
Media Inquiries:
Timmy Leon
Executive Director, Corporate Communications
Phone: +852 3151 3765
Email: chimmyleung@melco-resorts.com
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