Melco Resorts & Entertainment Limited, which develops, owns and operates integrated gaming resorts in Macau, Manila and Cyprus, reported yesterday an operating loss for the fourth quarter of 2021 of US$104.4 million (840.2 million patacas), compared with an operating loss of US$144.8 million in the same quarter of 2020.
According to a Melco statement, total operating revenues for the fourth quarter of last year were US$480.6 million, representing a year-on-year decrease of about 9 percent.
Adjusted Property EBITDA amounted US$94.0 million, compared with US$53.4 million a year earlier.
Net loss attributable to the company for the fourth quarter was US$159.9 million, compared with US$199.7 million a year earlier.
Chairman and CEO Lawrence Ho Yau Lung was quoted by the statement as saying that “COVID-related travel restrictions continued to impact our fourth-quarter operating and financial performance,” adding he hoped “that increasing vaccination rates can facilitate an easing of travel restrictions within the Greater Bay Area” (GBA).
Ho also said that Melco was “committed to participating in the [upcoming] public tender for the award of a gaming concession and will continue to promote to economic diversification in Macau.”
Melco owns four of Macau’s 42 casinos.
