MLCO

Make better investment decisions with Simply Wall St's easy, visual tools that give you a competitive edge. Melco Resorts & Entertainment has lost about 51.7% over the past five years, yet on current checks the stock still screens as undervalued, which gives investors a sharp contrast between weak share returns and a cheaper looking valuation profile. The roughly 51.7% share price decline over five years means long term holders have seen significant value erode, so any case for the stock now rests on whether that drop has gone too far. Ongoing investment in new hospitality capacity and a focus on international markets can support future earnings, while higher leverage and profit pressure in Macau may limit how much value investors are willing to ascribe to that growth. The broader checks lean cheap, with Melco Resorts & Entertainment scoring highly on valuation and screening as undervalued in 5 of 6 tests on the valuation summary. For investors, the debate is whether the current discount suggested by these valuation checks is enough to compensate for the operational and balance sheet risks that recent news has highlighted. Find out why Melco Resorts & Entertainment's -36.3% return over the last year is lagging behind its peers. The P/E ratio suits Melco Resorts & Entertainment because earnings remain a key focus for casino and hospitality investors. On current numbers, Melco trades on a P/E of about 9.0x, which is well below the Hospitality industry average of roughly 23.8x and a wider peer group near 35.1x. That is a sizeable gap in how other listed operators are priced on earnings today. The fair P/E ratio, which blends Melco’s growth profile, margins, risks and size, is estimated at around 20.6x. Set against the current 9.0x P/E, the stock trades at a heavy discount to what this framework suggests would be reasonable for the business. Despite recent news around higher leverage and softer Macau trading weighing on sentiment, the earnings multiple still prices Melco Resorts & Entertainment below both industry norms and this tailored fair value marker. On this earnings measure, Melco Resorts & Entertainment stock appears undervalued compared with both its fair P/E and sector benchmarks. See what the numbers say about this price — find out in our valuation breakdown. Simply Wall St Narratives pick up where the Melco Resorts & Entertainment valuation puzzle leaves off by explaining what would need to happen to growth, margins and earnings for the stock to be worth materially more or less than today’s price. Each narrative treats Melco Resorts & Entertainment's fair value as a thesis about the business that can be tracked over time, rather than a one off snapshot, and these sit on the company’s Community page. One of the top community narratives on Melco Resorts & Entertainment: 26% undervalued Read one of the top narratives on Melco Resorts & Entertainment Do you think there's more to the story for Melco Resorts & Entertainment? Head over to our Community to see what others are saying! Melco Resorts & Entertainment screens as undervalued on current earnings multiples, particularly against industry peers and its own fair P/E estimate. That discount reflects concern around leverage, Macau exposure and execution risk on newer projects, rather than a clear market endorsement of the outlook. For you as an investor, the key judgment is whether those risks ease enough for the P/E gap to narrow, or whether the lower multiple proves to be a lasting penalty. The crux of the debate is whether Melco can sustain attractive earnings from its expanded footprint without putting further strain on the balance sheet. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include MLCO. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Get insights on thousands of stocks from the global community of over 7 million individual investors at Simply Wall St. Melco Resorts & Entertainment (MLCO) is back in focus after its latest earnings update highlighted higher net leverage and a year over year profit decline, along with expectations that dividend payments may not resume until 2027. See our latest analysis for Melco Resorts & Entertainment. At a latest share price of US$5.47, Melco Resorts & Entertainment has seen only modest positive share price returns over the past quarter, while the year to date share price return has fallen 27.16% and the 1 year total shareholder return has declined 36.32%. This points to fading momentum as investors weigh higher leverage and delayed dividends against operational updates in Macau, Manila and Cyprus. If you want to look beyond Melco Resorts & Entertainment and see what else is moving, this is a good time to scan 21 top founder-led companies Given the share price slide, higher net leverage and a distant dividend restart, the real call now is whether Melco Resorts & Entertainment already reflects these risks or whether patience for a cheaper entry makes more sense, as the valuation section shows. Against the latest close at $5.47, the most followed narrative pegs Melco Resorts & Entertainment's fair value at about $7.42, using a 13.58% discount rate to weigh its long term projects and earnings power. Read the complete narrative. Want to see what sits behind that fair value gap? The narrative leans heavily on steady revenue growth, firmer margins and a richer earnings multiple. The exact mix of those assumptions matters for anyone weighing Melco Resorts & Entertainment at today’s price. Result: Fair Value of $7.42 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, that upside narrative for Melco Resorts & Entertainment depends on Macau holding up and new markets scaling, while higher debt levels and planned spending could still pressure cash generation. Find out about the key risks to this Melco Resorts & Entertainment narrative. With sentiment on Melco Resorts & Entertainment clearly split between concern and optimism, it makes sense to move quickly and test the numbers yourself. To weigh both sides of the story in one place, start with the 4 key rewards and 3 important warning signs. If Melco Resorts & Entertainment has sharpened your focus on risk and value, you can use this momentum to broaden your watchlist with other targeted stock ideas. Spot potential mispricings early and review companies flagged as 53 high quality undervalued stocks before others catch on. Prioritise resilience and examine businesses highlighted in the 80 resilient stocks with low risk scores that may offer steadier return profiles. Hunt for overlooked opportunities and study stocks surfaced by the screener containing 19 high quality undiscovered gems before they attract wider attention. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include MLCO. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

This article first appeared on GuruFocus. Adjusted Property EBITDA: Approximately $304 million for Q2 2026; $312 million when adjusted for VIP hold. VIP Win Rate (COD Macau): Declined to 2.7% in Q2 2026 from 3.9% in Q2 2025, negatively impacting property EBITDA by ~$9 million. Total Daily OpEx (Macau): Steady at approximately $3.4 million per day, inclusive of House of Dancing Water. Available Liquidity: Approximately $2.8 billion, with consolidated cash on hand of ~$1 billion as of end of Q2 2026. City of Dreams Manila Property EBITDA: $31 million in Q2 2026, a 9% year-over-year increase. City of Dreams Mediterranean & Satellite Casinos Property EBITDA: Rose 60% year-over-year in Q2 2026. Sri Lanka Casino Operations EBITDA: Positive $3.5 million in Q2 2026. Share Repurchases: Repurchased ~$22.4 million ADSs for ~$121 million from April 1 to August 12, 2026; total 2026 repurchases ~$134 million. Q3 2026 Guidance: Depreciation and amortization expense expected at $140M-$145M; corporate expense at $20M-$25M; consolidated net interest expense at $115M-$120M. Warning! GuruFocus has detected 5 Warning Signs with MLCO. Is MLCO fairly valued? Test your thesis with our free DCF calculator. Release Date: August 13, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Melco Resorts and Entertainment Ltd (NASDAQ:MLCO) opened REM, a unique luxury product at City of Dreams, which is expected to differentiate the property and enhance its competitive position in Macau. The company's diversified portfolio showed resilience, with City of Dreams Manila delivering a 9% year-over-year growth in property EBITDA and Cyprus operations rising 60% year-over-year in Q2 2026. Sri Lanka casino operations achieved positive EBITDA of $3.5 million in Q2 2026, indicating successful ramp-up and operational progress. Melco Resorts and Entertainment Ltd (NASDAQ:MLCO) maintains a robust liquidity position with approximately $2.8 billion available, including an upsized and extended revolving credit facility to June 2031. The company is actively managing its capital structure, having repurchased approximately $134 million of ADSs in 2026 and refinanced Studio City debt to reduce interest expenses. Management is focused on disciplined cost management, keeping daily OpEx in Macau steady at $3.4 million per day, and is evaluating further efficiencies to align costs with demand. Melco Resorts and Entertainment Ltd (NASDAQ:MLCO) experienced a negative impact on property EBITDA of approximately $9 million due to an unfavorable VIP win rate at City of Dreams Macau in Q2 2026. Lower-than-expected visitation and lower hold placed pressure on margins in Q2 2026, reflecting near-term headwinds in Macau. The World Cup had a more significant impact on gaming activity than in prior years, reducing volumes and player activity during June and July 2026. The retail revamp at City of Dreams will cause significant construction disruption, potentially impacting guest experience and visitation through mid-2027. The company has deferred the recommencement of dividends to 2027, prioritizing share repurchases and debt repayment over shareholder income in the near term. Competition remains elevated in Macau, leading to a demanding cost environment and requiring ongoing efforts to maintain market share. Q: How is the opening of REM progressing, and how does it differentiate from existing non-gaming offerings at City of Dreams? Additionally, how should we think about the dividend policy? A: Lawrence Ho (Chairman & CEO) stated that REM has already soft-opened, with a grand opening scheduled after Golden Week in October. He described REM as a unique luxury product unlike anything in Asia or the world, complementing the existing five-star hotel offerings at City of Dreams. Geoff Davis (CFO) clarified that dividend recommencement has been pushed to 2027, prioritizing opportunistic share repurchases when the stock trades at a significant discount. The intention is to start a substantive and meaningful dividend, not a nominal one. Q: Given the recent go-private and M&A transactions in the sector, are you considering similar strategic options for Melco? A: Lawrence Ho (Chairman & CEO) responded that while the company remains open-minded and innovative, the current core focus is on debt repayment and improving performance in Macau, as well as ramping up operations in Sri Lanka. He emphasized that there is still significant work to be done, but they are closely monitoring market activities and remain flexible. Q: What was the impact of the World Cup on Q2 2026 results, and are there any material entertainment events planned for the back half of the year? A: Evan Winkler (President) noted that the World Cup had a larger impact this year than in prior periods, with customers substituting some gaming activity for sports betting. However, activity has reverted to normalcy in late July and early August. Lawrence Ho added that the entertainment calendar has become more rational, with competitors like Galaxy and Sands seeing a 50% drop in concerts and events in H2 2026, as the industry learned that not all events are profitable. Q: What is the outlook for Macau-based OpEx per day, and how are post-World Cup demand trends shaping up? A: Evan Winkler (President) guided that daily OpEx, including House of Dancing Water and the ramp-up of REM, will remain around $3.4 million per day. He confirmed that post-World Cup, customer activity has returned to normal levels, with players coming back and volumes reverting to historical norms as they move into the back half of 2026. Q: Can you elaborate on the initiatives to create greater flexibility in the cost structure to align with business volumes? A: Geoff Davis (CFO) explained that the company is casting a wide net to review its cost base and find efficiencies, aiming to keep OpEx consistent despite the REM opening. Evan Winkler (President) added that they are reviewing all guest experience enhancements made post-COVID, identifying areas where spending can be trimmed without negatively impacting the premium guest experience. This exercise will be significant but not seismic, allowing for redeployment of savings into other areas of the guest journey. Q: Are you seeing increased competition from other regional gaming markets, and how is the competitive environment evolving? A: Lawrence Ho (Chairman & CEO) stated that regional competition is not significantly increasing, as each market serves its own catchment area. Macau predominantly serves Mainland Chinese tourists, with growing Southeast Asian and Korean visitation. Manila benefits from a large domestic market and Korean visitors, and there has been a slight uptick in Chinese tourists in 2026 due to better visa schemes, despite geopolitical tensions. Q: What is the expected disruption from the City of Dreams retail revamp, and what is the latest CapEx guidance? A: Evan Winkler (President) acknowledged that the retail revamp will cause significant construction disruption between now and mid-2027, with some guest impact despite efforts to mitigate it. However, the result will be one of the most innovative retail experiences in Asia. Geoff Davis (CFO) provided CapEx guidance of approximately $225 million for the remainder of 2026, dropping to $275 million to $300 million for 2027. Q: How do you plan to address the upcoming 2027 debt maturity, and what is the performance of the VIP business? A: Geoff Davis (CFO) stated that no definitive plans have been made for the MLCO 2027 notes, but options include refinancing or utilizing the upsized RCF, with a decision expected later this year. Evan Winkler (President) noted that the premium direct VIP rolling chip business remains strong, with the World Cup causing a temporary dip in volumes. He expressed confidence in the back-half outlook, with August rolling volumes looking good and no single competitor posing a significant threat. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in Melco Resorts & Entertainment Limited? Here are five stocks we like better. Q2 adjusted property EBITDA was approximately $304 million, pressured by weaker-than-expected Macau visitation and an unfavorable VIP win rate; results would have been about $312 million excluding the VIP hold impact. Melco is investing in City of Dreams Macau through the new REM luxury hotel, expanded gaming space and a retail redesign, while targeting Macau daily operating expenses of approximately $3.3 million to $3.4 million. International operations grew strongly, with EBITDA up 9% in Manila and 60% in Cyprus, while liquidity stood at roughly $2.8 billion; however, the company now expects to resume dividends in 2027 and continued share repurchases in 2026. How to Invest in Casino Stocks: Pros and Cons and More Melco Resorts & Entertainment (NASDAQ:MLCO) reported group-wide adjusted property EBITDA of approximately $304 million for the second quarter of 2026, as lower-than-expected visitation and an unfavorable VIP win rate weighed on margins in Macau. Chairman and Chief Executive Officer Lawrence Ho said the company remains confident in its long-term outlook in Macau despite near-term headwinds. Melco is focused on deepening customer engagement, attracting high-quality visitation and investing in its properties while maintaining discipline over costs. → AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be “Competition remains elevated, resulting in a demanding cost environment,” Ho said. “We are focused on being disciplined as we align our resources with the highest return opportunities and protect the guest experience.” Chief Financial Officer Geoff Davis said adjusted property EBITDA would have been approximately $312 million when adjusted for VIP hold. An unfavorable win rate at City of Dreams Macau reduced property EBITDA by roughly $9 million. The property’s VIP win rate declined to 2.7% in the second quarter from 3.9% a year earlier. → Nebius’ Q2 Beat Shows the AI Bottleneck Is Capacity, Not Demand Total daily operating expenses in Macau remained steady at about $3.4 million per day during the quarter, including the House of Dancing Water attraction, Davis said. The company is evaluating ways to add flexibility to its operating model in response to changing demand and business volumes. Melco has soft-opened its new REM hotel offering at City of Dreams, with a grand opening planned after Golden Week in October. Ho described REM as a differentiated luxury product that complements the company’s existing five-star hotel inventory. → On Holding's Price Stumble May Be an Opening for a Company Built to Run “It’s a very unique product. It’s a lot of fun,” Ho said, adding that the offering is differentiated from other hotels in Macau and elsewhere in Asia. The company also opened an 18-table gaming area near City of Dreams’ southwest entrance at the end of July. Management said the location along the Cotai Strip is expected to attract incremental walk-in visitation. Melco cited the success of a 15-table gaming area near the Grand Hyatt entrance that opened in October 2025. Meanwhile, Melco has begun a revamp of retail areas at City of Dreams that is intended to create a continuous loop across the property and introduce a more curated luxury retail mix. Evan Winkler, President and Director, said the construction will create disruption through approximately the middle of 2027, although management expects the completed project to improve the property’s retail experience. Melco expects Macau daily operating expenses, including REM and House of Dancing Water, to be in a range of about $3.3 million to $3.4 million. Winkler said the company is reviewing spending across guest services, room amenities and gaming-floor offerings to identify areas where costs can be reduced without affecting the guest experience, particularly for premium customers. Management said the World Cup had a greater-than-expected effect on gaming activity during June and July. Winkler said customers appeared to direct some gaming spending toward sports betting, reducing play levels compared with historical activity. However, he said activity returned to more normal levels in late July and early August, with customers returning and playing volumes recovering. Melco also said it has seen favorable results from selected entertainment events, though Ho noted that the Macau concert calendar has become more rational than in the prior year as operators assess event profitability. On the premium direct VIP roll and chip business, Winkler said Melco remains strong and expects to receive its “fair share or more” of the market. He said management felt positive about rolling volume in August and its VIP outlook for the second half of 2026. Outside Macau, Melco’s other markets posted growth. City of Dreams Manila generated property EBITDA of $31 million in the second quarter, up 9% from a year earlier. Ho said the Philippines operation serves a large domestic market as well as a significant Korean customer base, and that Chinese visitation has shown some improvement in 2026 following visa-related developments. In Cyprus, property EBITDA at City of Dreams Mediterranean and the company’s satellite casinos increased 60% year over year despite disruption associated with Middle East conflicts. In Sri Lanka, Melco’s casino operations recorded positive EBITDA of $3.5 million as the business continued to ramp up. Melco ended the second quarter with approximately $2.8 billion of available liquidity and about $1 billion of consolidated cash on hand. The company announced in June that it extended the maturity of its revolving credit facility from April 2027 to June 2031 and increased the facility by about $821 million to $2.8 billion. Studio City issued $300 million in senior secured bonds in May and used the proceeds, along with cash and a revolver drawdown, to redeem notes due in 2027. In July, Studio City redeemed $165 million of its 6.5% senior notes due 2028, leaving $335 million outstanding after the cancellation of redeemed notes. From April 1 through Aug. 12, Melco repurchased about 22.4 million American depositary shares for approximately $121 million. Total 2026 repurchases reached about 25 million ADSs for $134 million. The company now expects to resume dividends in 2027 rather than toward the end of 2026. Davis said Melco intends for any resumed dividend to be “substantive and meaningful,” rather than nominal. For the third quarter, Melco expects depreciation and amortization expense of $140 million to $145 million, corporate expense of $20 million to $25 million, and consolidated net interest expense of $115 million to $120 million. Management said remaining 2026 capital expenditures are expected to total about $225 million across the group, while next year’s capital expenditures are expected to be about $275 million to $300 million. Melco Resorts & Entertainment Limited (NASDAQ: MLCO) is a developer, owner and operator of integrated resort destinations in Asia and Europe. The company's portfolio spans casino gaming, hotel accommodations, retail, dining and entertainment facilities. Melco's properties feature a mix of luxury hotels, award-winning restaurants, high-limit gaming salons and entertainment venues, catering to a broad range of leisure and business travelers. In Macau, Melco owns and operates flagship properties including City of Dreams Macau, Altira Macau and Studio City. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Melco Resorts & Entertainment Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

MACAU, Aug. 13, 2026 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (“Melco Resorts” or the “Company”), a developer, owner, and operator of integrated resort facilities in Asia and Europe, today reported its unaudited financial results for the second quarter of 2026. Total operating revenues for the second quarter of 2026 were US$1.25 billion, representing a decrease of approximately 6% from US$1.33 billion for the comparable period in 2025. The decrease in total operating revenues was primarily attributable to softer performance in rolling chip and mass market table games as well as overall non-gaming operations. Operating income for the second quarter of 2026 was US$127.8 million, compared with US$124.7 million in the second quarter of 2025. Melco Resorts’ Adjusted Property EBITDA(1) was US$303.8 million in the second quarter of 2026, compared with US$377.7 million in the second quarter of 2025. Net income attributable to Melco Resorts & Entertainment Limited for the second quarter of 2026 was US$22.7 million, or US$0.06 per American depositary share (“ADS”), compared with US$17.2 million, or US$0.04 per ADS, in the second quarter of 2025. The net loss attributable to noncontrolling interests was US$12.1 million and US$7.8 million during the second quarters of 2026 and 2025, respectively, the majority of which was attributable to Studio City and City of Dreams Mediterranean and Other. Mr. Lawrence Ho, our Chairman and Chief Executive Officer, commented, “We are confident in the long-term strength of our businesses and our outlook for Macau. Despite near-term headwinds that are reflected in our second quarter results, our priorities continue to be to deepen customer engagement, attract high quality visitation, and continue investing in our properties to anticipate the changing needs of our guests. Our new hotel, REM, will commence its phased opening in the third quarter of 2026, which together with our continued efforts to operate more efficiently and strengthen our business, positions us well to capture the demand that has been gaining momentum in Macau. “Outside of Macau, our diversified portfolio continued to demonstrate resilience and growth potential. In the Philippines, City of Dreams Manila delivered solid year-over-year growth despite the ongoing challenges in the country. In Cyprus, City of Dreams Mediterranean and our satellite casinos rebounded with considerable strength as disruptions in regional travel eased, with Property EBITDA in the second quarter of 2026 growing by 60% year-over-year.” City of Dreams Second Quarter Results For the quarter ended June 30, 2026, total operating revenues at City of Dreams were US$632.2 million, compared with US$710.5 million in the second quarter of 2025. City of Dreams’ Adjusted EBITDA was US$147.8 million in the second quarter of 2026, compared with US$225.6 million in the second quarter of 2025. The year-over-year decrease in Adjusted EBITDA was primarily a result of softer rolling chip and mass market table games performance. Rolling chip volume decreased to US$5.16 billion during the second quarter of 2026, compared with US$5.49 billion in the second quarter of 2025. Win rate was 2.71% in the second quarter of 2026, compared with 3.93% in the second quarter of 2025. The expected rolling chip win rate range is 2.85%-3.15%. Mass market table games drop was US$1.75 billion for each of the second quarters of 2026 and 2025. Hold percentage was 29.8% in the second quarter of 2026, compared with 30.5% in the second quarter of 2025. Gaming machine handle for the second quarter of 2026 was US$1.20 billion, compared with US$0.95 billion in the second quarter of 2025. Win rate was 3.6% in the second quarter of 2026, compared with 3.0% in the second quarter of 2025. Total non-gaming revenue at City of Dreams in the second quarter of 2026 was US$89.5 million, compared with US$88.1 million in the second quarter of 2025. Studio City Second Quarter Results For the quarter ended June 30, 2026, total operating revenues at Studio City were US$371.5 million, compared with US$388.2 million in the second quarter of 2025. Studio City’s Adjusted EBITDA was US$95.5 million in the second quarter of 2026, compared with US$105.2 million in the second quarter of 2025. The year-over-year decrease in Adjusted EBITDA was primarily a result of softer mass market table games performance. Mass market table games drop was US$884.1 million in the second quarter of 2026, compared with US$958.2 million in the second quarter of 2025. Hold percentage was 36.3% in the second quarter of 2026, compared with 34.0% in the second quarter of 2025. Gaming machine handle for the second quarter of 2026 was US$1.04 billion, compared with US$0.92 billion in the second quarter of 2025. Win rate was 3.6% in the second quarter of 2026, compared with 3.7% in the second quarter of 2025. Total non-gaming revenue at Studio City was US$69.2 million in the second quarter of 2026, compared with US$83.8 million in the second quarter of 2025. Altira Macau Second Quarter Results For the quarter ended June 30, 2026, total operating revenues at Altira Macau were US$33.9 million, compared with US$28.3 million in the second quarter of 2025. Altira Macau’s Adjusted EBITDA was US$2.2 million in the second quarter of 2026, compared with US$0.8 million in the second quarter of 2025. The year-over-year increase in Adjusted EBITDA was primarily a result of better mass market performance. Mass market table games drop was US$134.0 million in the second quarter of 2026, compared with US$119.0 million in the second quarter of 2025. Hold percentage was 22.0% in the second quarter of 2026, compared with 21.3% in the second quarter of 2025. Gaming machine handle for the second quarter of 2026 was US$208.4 million, compared with US$114.9 million in the second quarter of 2025. Win rate was 3.4% in the second quarter of 2026, compared with 2.5% in the second quarter of 2025. Total non-gaming revenue at Altira Macau was US$5.3 million in the second quarter of 2026, compared with US$4.8 million in the second quarter of 2025. Mocha Second Quarter Results Prior to the fourth quarter of 2025, the Mocha and Other segment included the operations of Grand Dragon Casino before its closure in September 2025. This segment has been renamed to the Mocha segment from the fourth quarter of 2025 onwards. Following the government mandated closures in 2025, the Mocha segment now includes results for three Mocha Clubs, namely Mocha Inner Harbour, Mocha Golden Dragon and Mocha Hotel Sintra. Total operating revenues from Mocha were US$15.1 million in the second quarter of 2026, compared with US$27.9 million from Mocha and Other in the second quarter of 2025. Mocha’s Adjusted EBITDA was US$4.0 million in the second quarter of 2026, compared with US$5.2 million for Mocha and Other in the second quarter of 2025. Gaming machine handle for the second quarter of 2026 was US$377.0 million, compared with US$496.4 million in the second quarter of 2025. Win rate was 4.0% in the second quarter of 2026, compared with 4.1% in the second quarter of 2025. City of Dreams Manila Second Quarter Results For the quarter ended June 30, 2026, total operating revenues at City of Dreams Manila were US$97.3 million, compared with US$98.5 million in the second quarter of 2025. City of Dreams Manila’s Adjusted EBITDA was US$30.9 million in the second quarter of 2026, compared with US$28.4 million in the comparable period of 2025. City of Dreams Manila’s rolling chip volume was US$342.6 million in the second quarter of 2026, compared with US$694.4 million in the second quarter of 2025. Win rate was 3.67% in the second quarter of 2026, compared with 2.05% in the second quarter of 2025. The expected rolling chip win rate range is 2.85%-3.15%. Mass market table games drop decreased to US$131.9 million in the second quarter of 2026, compared with US$147.9 million in the second quarter of 2025. Hold percentage was 35.4% in the second quarter of 2026, compared with 34.8% in the second quarter of 2025. Gaming machine handle for the second quarter of 2026 was US$0.95 billion, compared with US$1.00 billion in the second quarter of 2025. Win rate was 5.0% in the second quarter of 2026, compared with 4.6% in the second quarter of 2025. Total non-gaming revenue at City of Dreams Manila in the second quarter of 2026 was US$23.3 million, compared with US$27.0 million in the second quarter of 2025. City of Dreams Mediterranean and Other Second Quarter Results The Company operates City of Dreams Mediterranean in conjunction with three satellite casinos in Cyprus. Total operating revenues at City of Dreams Mediterranean and Other for the quarter ended June 30, 2026 were US$82.0 million, compared with US$72.3 million in the second quarter of 2025. City of Dreams Mediterranean and Other’s Adjusted EBITDA was US$19.9 million in the second quarter of 2026, compared with US$12.4 million in the second quarter of 2025. The year-over-year increase in Adjusted EBITDA was primarily a result of better mass market performance. Rolling chip volume was US$0.1 million for the second quarter of 2026, compared with US$0.7 million in the second quarter of 2025. Win rate was negative 29.66% in the second quarter of 2026, compared with 7.28% in the second quarter of 2025. The expected rolling chip win rate range is 2.85%-3.15%. The significant movement in the rolling chip win rate resulted from low gaming volumes. Mass market table games drop was US$175.7 million in the second quarter of 2026, compared with US$161.8 million in the second quarter of 2025. Hold percentage was 22.1% in the second quarter of 2026, compared with 21.9% in the second quarter of 2025. Gaming machine handle for the second quarter of 2026 was US$727.7 million, compared with US$668.1 million in the second quarter of 2025. Win rate was 5.1% in the second quarter of 2026, compared with 4.9% in the second quarter of 2025. Total non-gaming revenue at City of Dreams Mediterranean and Other in the second quarter of 2026 was US$24.4 million, compared with US$25.4 million in the second quarter of 2025. Other Operations Other Operations include the Company’s casino operations at City of Dreams Sri Lanka, which opened on August 1, 2025, and provision of management services to the Nüwa hotel at City of Dreams Sri Lanka, which opened to the public on July 15, 2025. Total operating revenues from Other Operations were US$16.9 million for the quarter ended June 30, 2026. Adjusted EBITDA from Other Operations was US$3.5 million in the second quarter of 2026. Other Factors Affecting Earnings Total net non-operating expenses for the second quarter of 2026 were US$109.5 million, which mainly included interest expense, net of amounts capitalized, of US$111.0 million. Depreciation and amortization costs of US$135.7 million were recorded in the second quarter of 2026, of which US$5.0 million related to the amortization expense for land use rights. Adjusted EBITDA for Studio City for the three months ended June 30, 2026 referred to above was US$28.5 million more than the Adjusted EBITDA of Studio City reported in the earnings release for Studio City International Holdings Limited (“SCIHL”) dated August 13, 2026 (the “Studio City Earnings Release”). Adjusted EBITDA of Studio City reported in the Studio City Earnings Release includes certain intercompany charges that are not included in Adjusted EBITDA for Studio City reported in this press release. Such intercompany charges include, among other items, fees and shared service charges billed between SCIHL and its subsidiaries and certain subsidiaries of Melco Resorts. Additionally, Adjusted EBITDA of Studio City presented in this press release does not reflect certain gaming concession related costs and certain intercompany costs related to the gaming operations at Studio City Casino. Financial Position and Capital Expenditures Total cash and bank balances as of June 30, 2026 aggregated to US$1.04 billion, including US$124.3 million of restricted cash. Total debt, net of unamortized deferred financing costs and original issue premiums, was US$7.05 billion at the end of the second quarter of 2026. During the quarter ended June 30, 2026, MCO Nominee One Limited drew down HK$3.27 billion (equivalent to US$416.7 million) principal amount outstanding under its revolving credit facilities (the “MN1 2020 Revolving Facilities”). On June 9, 2026, the Company announced that the maturity date of the MN1 2020 Revolving Facilities was extended from April 2027 to June 2031 and an incremental facility of HK$6.44 billion (equivalent to US$821.0 million) was established such that the total commitments under the MN1 2020 Revolving Facilities increased to HK$21.68 billion (equivalent to US$2.76 billion). On May 15, 2026, Studio City Company Limited (“SCC”) issued US$300.0 million in aggregate principal amount of 6.125% senior secured notes due 2031 (“2031 SCC Senior Secured Notes”). The net proceeds from the issuance of the 2031 SCC Senior Secured Notes, together with a HK$118.0 million (equivalent to US$15.1 million) drawdown from SCC’s senior secured credit facility, and cash on hand, was utilized to refinance US$350.0 million in aggregate principal amount of the 7.000% senior secured notes due 2027. Subsequent to quarter end, on July 18, 2026, Studio City Finance Limited redeemed an aggregate principal amount of US$165.0 million of its outstanding 6.500% senior notes due 2028 pursuant to the notice of partial redemption dated June 18, 2026. The redemption was funded with a HK$1.18 billion (equivalent to US$150.5 million) drawdown from SCC’s senior secured credit facility. All of the redeemed notes have been cancelled. Available liquidity, including cash and undrawn revolving credit facilities as of June 30, 2026 was approximately US$2.80 billion. Capital expenditures for the second quarter of 2026 were US$123.9 million, which mainly included costs related to enhancement projects at City of Dreams in Macau as well as City of Dreams Mediterranean and Other. Share Repurchase Programs During the period from April 1, 2026 to August 12, 2026, Melco Resorts repurchased approximately 22.4 million ADSs (representing approximately 67.1 million ordinary shares) from the open market at an aggregate purchase price of approximately US$120.6 million. As of August 12, 2026, the Company has remaining authority to repurchase up to approximately US$589.6 million of its equity. Conference Call Information Melco Resorts & Entertainment Limited will hold a conference call to discuss its second quarter 2026 financial results on Thursday, August 13, 2026 at 8:30 a.m. Eastern Time (or 8:30 p.m. Singapore Time). To join the conference call, please register in advance using the below Online Registration Link. Upon registering, each participant will receive the dial-in numbers, passcode and a unique Personal PIN which can be used to join the conference. Online Registration Link: https://s1.c-conf.com/diamondpass/10055249-7qhfkc.html An audio webcast and replay of the conference call will also be available at http://www.melco-resorts.com. 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) changes in the gaming market and visitations in Macau, the Philippines, the Republic of Cyprus and Sri Lanka, (ii) local and global economic conditions, (iii) capital and credit market volatility, (iv) our anticipated growth strategies, (v) risks associated with the implementation of the amended Macau gaming law by the Macau government, (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 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 City of Dreams (www.cityofdreamsmacau.com) and Altira Macau (www.altiramacau.com), integrated resorts located in Cotai and Taipa, Macau, respectively. Its business also includes the Mocha Clubs (www.mochaclubs.com), the only non-casino based operation of electronic gaming machines in Macau. In addition, the Company operates Studio City (www.studiocity-macau.com), a cinematically-themed integrated resort in Cotai, Macau. In the Philippines, the Company operates and manages City of Dreams Manila (www.cityofdreamsmanila.com), an integrated resort in the Entertainment City complex in Manila. In Europe, the Company operates City of Dreams Mediterranean, an integrated resort in Limassol, in the Republic of Cyprus (www.cityofdreamsmed.com.cy) and licensed satellite casinos in other cities in Cyprus (the “Cyprus Casinos”). In South Asia, the Company operates the casino and manages the Nüwa hotel at City of Dreams Sri Lanka (www.cityofdreamssrilanka.com), an integrated resort in Colombo, Sri Lanka. For more information about the Company, please visit www.melco-resorts.com. The Company is majority owned by Melco International Development Limited, a company listed on the Main Board of The Stock Exchange of Hong Kong Limited, which is in turn majority 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: [email protected] For media enquiries, please contact:Chimmy LeungExecutive Director, Corporate CommunicationsTel: +852 3151 3765Email: [email protected]

For the quarter ended June 2026, Melco Resorts (MLCO) reported revenue of $1.25 billion, down 5.7% over the same period last year. EPS came in at $0.06, compared to $0.23 in the year-ago quarter. The reported revenue represents a surprise of -2.93% over the Zacks Consensus Estimate of $1.29 billion. With the consensus EPS estimate being $0.06, the company has not delivered EPS surprise. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance. Here is how Melco performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: City of Dreams Manila - Average daily rate: $144.00 versus $145.50 estimated by two analysts on average. City of Dreams Manila - Revenue per available room: $139.00 compared to the $135.56 average estimate based on two analysts. City of Dreams Manila - Occupancy per available room: 97% versus the two-analyst average estimate of 93%. Adjusted EBITDA- Mocha and Other: $4 million versus $3.17 million estimated by three analysts on average. Adjusted EBITDA- Altira Macau: $2.16 million versus $1.72 million estimated by three analysts on average. Adjusted EBITDA- City of Dreams: $147.78 million compared to the $181.05 million average estimate based on three analysts. Adjusted EBITDA- Studio City: $95.52 million versus $99.25 million estimated by three analysts on average. Adjusted EBITDA- City of Dreams Manila: $30.95 million versus $26.95 million estimated by three analysts on average. Adjusted EBITDA- Corporate and Other: $-23.36 million compared to the $-28 million average estimate based on three analysts. Adjusted EBITDA- City of Dreams Mediterranean and Other: $19.91 million compared to the $9.7 million average estimate based on three analysts. Adjusted EBITDA- Other Operations: $3.51 million versus the two-analyst average estimate of $0.67 million. View all Key Company Metrics for Melco here>>> Shares of Melco have returned +4.9% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Melco Resorts & Entertainment Limited (MLCO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

CuriosityStream Inc. (CURI) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.04 per share. This compares to earnings of $0.01 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +275.00%. A quarter ago, it was expected that this company would post a loss of $0.02 per share when it actually produced a loss of $0.02, delivering no surprise. Over the last four quarters, the company has surpassed consensus EPS estimates just once. CuriosityStream, which belongs to the Zacks Film and Television Production and Distribution industry, posted revenues of $23.25 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 8.44%. This compares to year-ago revenues of $19.01 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. CuriosityStream shares have lost about 26.3% since the beginning of the year versus the S&P 500's gain of 12.9%. While CuriosityStream has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for CuriosityStream was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.03 on $20.53 million in revenues for the coming quarter and $0.07 on $78.75 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Film and Television Production and Distribution is currently in the top 26% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the broader Zacks Consumer Discretionary sector, Melco Resorts (MLCO), is yet to report results for the quarter ended June 2026. The results are expected to be released on August 13. This casino company is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents a year-over-year change of -73.9%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Melco Resorts' revenues are expected to be $1.29 billion, down 2.9% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CuriosityStream Inc. (CURI) : Free Stock Analysis Report Melco Resorts & Entertainment Limited (MLCO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

The upcoming report from Melco Resorts (MLCO) is expected to reveal quarterly earnings of $0.06 per share, indicating a decline of 73.9% compared to the year-ago period. Analysts forecast revenues of $1.29 billion, representing a decline of 2.9% year over year. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe. Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock. While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights. With that in mind, let's delve into the average projections of some Melco metrics that are commonly tracked and projected by analysts on Wall Street. Analysts predict that the 'City of Dreams Manila - Average daily rate' will reach $145.50 . The estimate compares to the year-ago value of $164.00 . According to the collective judgment of analysts, 'City of Dreams Manila - Revenue per available room' should come in at $135.56 . Compared to the present estimate, the company reported $156.00 in the same quarter last year. It is projected by analysts that the 'City of Dreams Manila - Occupancy per available room' will reach 93.0%. The estimate compares to the year-ago value of 95.0%. Analysts' assessment points toward 'Adjusted EBITDA- Mocha and Other' reaching $3.17 million. The estimate is in contrast to the year-ago figure of $5.21 million. Analysts forecast 'Adjusted EBITDA- City of Dreams' to reach $181.05 million. The estimate compares to the year-ago value of $225.64 million. Based on the collective assessment of analysts, 'Adjusted EBITDA- Studio City' should arrive at $99.25 million. Compared to the present estimate, the company reported $105.21 million in the same quarter last year. The consensus among analysts is that 'Adjusted EBITDA- City of Dreams Manila' will reach $26.95 million. The estimate is in contrast to the year-ago figure of $28.42 million. Analysts expect 'Adjusted EBITDA- City of Dreams Mediterranean and Other' to come in at $9.70 million. Compared to the current estimate, the company reported $12.42 million in the same quarter of the previous year. View all Key Company Metrics for Melco here>>> Over the past month, Melco shares have recorded returns of +0.7% versus the Zacks S&P 500 composite's +2.5% change. Based on its Zacks Rank #4 (Sell), MLCO will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> . Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Melco Resorts & Entertainment Limited (MLCO) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

MACAU, Aug. 07, 2026 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment Limited (Nasdaq: MLCO), a developer, owner and operator of integrated resort facilities in Asia and Europe, today announces that it will release its unaudited financial results for the second quarter of 2026 on Thursday, August 13, 2026 to be followed by a conference call on the same day at 8:30 a.m. Eastern Time (or 8:30 p.m. Singapore Time). To join the conference call, please register in advance using the below Online Registration Link. Upon registering, each participant will receive the dial-in numbers, passcode and a unique Personal PIN which can be used to join the conference. Online Registration Link: https://s1.c-conf.com/diamondpass/10055249-7qhfkc.html An audio webcast and replay of the conference call will also be available at http://www.melco-resorts.com. 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) changes in the gaming market and visitations in Macau, the Philippines, the Republic of Cyprus and Sri Lanka, (ii) local and global economic conditions, (iii) capital and credit market volatility, (iv) our anticipated growth strategies, (v) risks associated with the implementation of the amended Macau gaming law by the Macau government, (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. 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 City of Dreams (www.cityofdreamsmacau.com) and Altira Macau (www.altiramacau.com), integrated resorts located in Cotai and Taipa, Macau, respectively. Its business also includes the Mocha Clubs (www.mochaclubs.com), the only non-casino based operation of electronic gaming machines in Macau. In addition, the Company operates Studio City (www.studiocity-macau.com), a cinematically-themed integrated resort in Cotai, Macau. In the Philippines, the Company operates and manages City of Dreams Manila (www.cityofdreamsmanila.com), an integrated resort in the Entertainment City complex in Manila. In Europe, the Company operates City of Dreams Mediterranean, an integrated resort in Limassol, in the Republic of Cyprus (www.cityofdreamsmed.com.cy) and licensed satellite casinos in other cities in Cyprus (the “Cyprus Casinos”). In South Asia, the Company operates the casino and manages the Nüwa hotel at City of Dreams Sri Lanka (www.cityofdreamssrilanka.com), an integrated resort in Colombo, Sri Lanka. For more information about the Company, please visit www.melco-resorts.com. The Company is majority owned by Melco International Development Limited, a company listed on the Main Board of The Stock Exchange of Hong Kong Limited, which is in turn majority 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: [email protected] For media enquiries, please contact:Chimmy LeungExecutive Director, Corporate Communications Tel: +852 3151 3765Email: [email protected]

MACAU, Aug. 07, 2026 (GLOBE NEWSWIRE) -- Studio City International Holdings Limited (NYSE: MSC), a world-class integrated resort located in Cotai, Macau, today announces that it will release its unaudited financial results for the second quarter of 2026 on Thursday, August 13, 2026. 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) changes in the gaming market and visitations in Macau, (ii) local and global economic conditions, (iii) capital and credit market volatility, (iv) our anticipated growth strategies, (v) risks associated with the implementation of the amended Macau gaming law by the Macau government, (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. 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 majority owned by 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: Jeanny Kim Senior Vice President, Group TreasurerTel: +852 2598 3698Email: [email protected] For media enquiries, please contact: Chimmy Leung Executive Director, Corporate Communications Tel: +852 3151 3765 Email: [email protected]