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Earnings documents stored for MLCO.
TranscriptFY2026 Q12026-05-07FY2026 Q1 earnings call transcript
Earnings source - 46 paragraphs
FY2026 Q1 earnings call transcript
Ladies and gentlemen, thank you for participating in the Q1 2026 earnings conference call of Melco Resorts & Entertainment Limited. At this time, all participants are in a listen-only mode. After the call, we will conduct a question and answer session. Today's conference is being recorded. I would now like to turn the call over to Ms. Jeanny Kim, Senior Vice President, Group Treasurer of Melco Resorts & Entertainment Limited.
Thank you, operator, and thank you everybody for joining us today for our Q1 2026 earnings call. We apologize for the earnings release materials being later than usual. We had a bit of an IT issue, and we wanted to give all of you a little bit more time to review the materials that were released. As usual, on the call are Lawrence Ho, Geoff Davis, Evan Winkler, and our property presidents in Macau, Manila, and Cyprus. Before we get started, please note that today's discussion may contain forward-looking statements made under the safe harbor provisions of federal securities laws. Our actual results could differ from our anticipated results. In addition, we may discuss non-GAAP measures. A definition and reconciliation of each of these measures to the most comparable GAAP financial measures are included in the earnings release.
Finally, please note that our supplementary earnings slides are posted on our investor relations website. With that, I'll turn the call over to Mr. Lawrence Ho.
Thank you, Jeanny, thank you all for joining us today. We delivered a strong Q1 with both group property EBITDA and Macau property EBITDA growing by 12% year-over-year. Our GGR in Macau increased by approximately 10% year-over-year with solid growth across all segments. In March, we officially announced the upcoming launch of REM, our new luxury hotel at CoD. We remain on track to begin a phased opening early in the Q3 of 2026. We expect REM to represent a meaningful enhancement to the CoD product portfolio and to redefine contemporary luxury across Macau. At the same time, we have commenced a refresh of the retail areas at CoD and have plans underway to enhance our food and beverage offerings, further elevating the guest experience and product quality.
Moving on to the Philippines, despite competitive pressures and broader industry headwinds that continued into 2026, property EBITDA for the Q1 of 2026 grew 24% year-over-year, while GGR increased 9%. We continue to punch above our weight in the market and are expanding our marketing initiatives across Southeast Asia to drive additional growth. City of Dreams Mediterranean and the satellite casinos in Cyprus were impacted by the conflicts in the Middle East that escalated in late February. With the recent developments in the region, we've seen significant improvements in occupancy, visitation, and play levels in April. We remain operationally flexible in preparation for a further recovery in travel demand. Our casino operations in Sri Lanka recorded positive EBITDA in Q1 2026. We remain focused on the progressive ramp of operations throughout the year.
Finally, we announced today that we purchased the subsidiary of Melco International that owns the trademarks that were subject to the trademarks license agreement. These trademarks are integral to Melco's business. This purchase gives us full control of the IP and allows us flexibility to expand our brand without any incremental cost. With that, I turn the call over to Geoff.
Thank you, Lawrence. Our group-wide adjusted property EBITDA for the Q1 of 2026 grew 12% year-over-year to approximately $381 million. Adjusted for VIP hold, our property EBITDA was approximately $356 million. Favorable win rates at CoD Macau and CoD Manila had positive impacts on our property EBITDA by approximately $20 million and $5 million, respectively. Daily OpEx in Macau, excluding House of Dancing Water, for the Q1 of 2026 was approximately $3.2 million per day, in line with our prior guidance. Total OpEx per day, including House of Dancing Water and residency concerts for the last four quarters has been relatively stable, and we were able to see the benefits of operating leverage this quarter with our Macau property EBITDA margin increasing to approximately 28%.
We continue to be focused on managing our cost to increase flow-through and margins going forward. Turning to our balance sheet, our liquidity position remains robust. We had available liquidity of approximately $2.4 billion, with consolidated cash on hand of approximately $1.1 billion as of the end of the Q1 of 2026. Melco Resorts, excluding its operations at Studio City, the Philippines, Cyprus, and Sri Lanka, accounted for approximately $543 million of the consolidated cash on hand. In the Q1 of 2026, we repaid $60 million in debt at Melco Resorts and $10 million in debt at Studio City. The group does not have any material debt maturities in 2026.
As of April 29th 2026, we repurchased approximately 2.5 million ADSs for total consideration of approximately $14 million year to date in 2026. We have been opportunistic in our share repurchases in the past, and we expect to continue to make opportunistic repurchases going forward. We believe our share price is meaningfully undervalued, especially when recent trading levels of our ADSs imply a free cash flow yield of over 20%. We also announced today that the board approved a new $500 million share repurchase program. This is incremental to the existing program and increases our share repurchase authorization to $710 million. We remain focused on reducing debt and leverage, and we'll continue to evaluate our capital allocation strategy in a disciplined manner, considering cash availability, prevailing market conditions, and our share price.
As Lawrence mentioned, we announced today the purchase of key trademarks from Melco International for $375 million. The transaction was the result of arm's length negotiations between the independent members of the two audit committees, and a professional valuation services firm was engaged to assist in the evaluation. Trademark license fee for the Q1 of 2026 was approximately $13.4 million, implying a purchase price of just under 7x the annualized Q1 fee. This is in line with Melco's current trading multiple and below the trading multiples of our Macau peers. The purchase of the trademarks provides MLCO with full ownership and control of the trademarks and eliminates any uncertainty with respect to potential increases in fees at the end of the prior royalty fee arrangements.
As a result of the purchase, we have an immediate increase in EBITDA and cash flow. The purchase will be funded by a combination of a drawdown from our credit facility and internal funds but the additional debt is immaterial to our credit profile. Debt to EBITDA post-transaction is expected to increase by less than half a turn, and we expect to leverage our return back down to Q1 2026 levels before the end of 2026. Finally, as we normally do, we'll give you some guidance on non-operating line items for the upcoming Q2 of 2026. Total depreciation and amortization expense is expected to be approximately $140 million-$145 million.
Corporate expense is expected to come in at approximately $30 million, and consolidated net interest expense is expected to be approximately $115 million-$120 million. This includes finance liability interest of around $6 million relating to fees payable in relation to the Macau gaming concession and the Cyprus gaming license, and finance lease interest of approximately $5 million relating to City of Dreams Manila. That concludes our prepared remarks. Operator, back to you for the Q&A.
Thank you. If you wish to ask a question, please press star one on your telephone and wait for your name to be announced. If you wish to cancel your request, please press star two. If you are on speaker phone, please pick up the handset and ask your question. Your first question comes from George Choi with Citi. Please go ahead.
Hi, good evening. Thank you very much for taking my question. We appreciate. I just wanna say that we appreciate the purchase of the trademark license from Melco International. I think that's a very good deal. Two questions from me, if that's all right. Firstly, perhaps for Lawrence or Evan, how do you view your current OpEx level, in particular player reinvestments? Secondly, for the upcoming Labor Day holidays, which is a few hours away, if you can provide us with any color in terms of the upcoming holidays, that'd be very much appreciated. Thank you very much.
Hey. Hi, George. It's Lawrence. Maybe I'll take the second question first and then let Evan and Geoff elaborate a little bit on the OpEx question. For May Golden Week, if, you know, if anything, I think with the conflict in the Middle East, we're seeing people travel shorter distance in China so I see there's I read somewhere that, you know, there's 10% cancellation of flights from China to international markets so if anything, that has really benefited us. I think so far for May Golden Week, we're seeing both occupancy and player quality improve on a year-on-year basis so we're quite happy about that and excited about tomorrow effectively starting. On OpEx, maybe I'll hand it off to Evan and Geoff to elaborate.
Sure. Why don't I start, and Geoff can join in. I think from an OpEx perspective, we're fairly stable on where we are. Market remains very competitive, so we did see player reinvestment levels tick up. I think Lawrence has set the tone to begin with, which is we're not leading the market up, but when you go through periods of intense competition, we obviously react to the market and so an environment where it's very competitive, we have seen some increase in player reinvestment levels. I think they're stable for now. We don't see anything on the horizon that would make them increase, but we also don't see anything on the near-term horizon that would decrease those levels.
As I look into the next quarter, we are seeing, you know, just our typical salary increase takes place on April 1, so we're gonna see a tick up related to that. We have a little bit of enhancement in terms of some higher level, butler and other service amenities around our suite product. As you know that within Macau, that's continued to be an area of customer focus. Some of our competitors have made some announcements of things that they're looking to do prospectively. I think luckily, a lot of ours were already from a hardware position, better, but from a software position, we will have a slight tick up there. The biggest jump up is gonna be in Q3 as we start to open REM. REM, we've probably got another $30,000-$40,000 a day in operating expenses. I think we view that as a big positive.
We've got 149 keys opening. Just walked the product today with Lawrence and Tim, and it looks spectacular. I think it's gonna be highly differentiated in the market. We spent a lot of time on that property making sure that we had the right mix. It's very heavily weighted towards the one bedroom suite product, with some flexibility in terms of combining suites and combining rooms with lockoff rooms so I think we feel like we're gonna be hitting the market with a very good product here, going into Q3, and we'll have some slight expense from that, but should receive obviously a pretty big revenue uplift as that ramps.
Thank you very much. If I can ask a follow-up question. Given your purchase of the trademark license, any change in your CapEx for this year at all?
Total CapEx for this year has come down from about $450 to approximately $425 and with the amount spent in the Q1, we've got approximately $350 million to go for the remainder of this year.
Understood. That's very clear. Thank you very much.
Once again, if you wish to ask a question, please press star one on your telephone and wait for your name to be announced. You may press star one to ask your question. Our next question comes from Karl Choi with Bank of America. Please go ahead.
Hi, good evening. Thanks for taking my question. Two questions here. Number one is, can you discuss a little bit about the timing of resuming your dividend, the trademark purchase? Does that mean that we may be pushing back the timing of a resumption towards 2027? Second part on, you know, competition, understanding that, you know, that maybe the reinvestment rate for now, you know, you expect it to be stable near term, but sort of how much, you know, one of your larger competitors has been, you know, quite vocal about stepping up service offerings and things like that. Do you feel like you still need to respond further beyond what you have said on the call? Thanks.
Hey, Karl, maybe I'll. It's Lawrence. Let me, you know, I think our goal is still to resume the dividend at the end of this year, but I think maybe we'll let Geoff elaborate on our capital priorities. All things, all things being equal, we would definitely like to resume the dividend by year-end. That said, of course, we'll look at the opportunity set out there, and that would include our share price over the course of this year as well. As you know, we've been opportunistic over time and thus far this year in buying back the stock when we think it's on sale, and we think it's on sale at these levels so it's all dependent on a variety of different variables, but we would like to recommence the dividend and think that the balance sheet should be in shape for that by the end of this year.
Karl, on your reinvestment question, I'm sure you guys, you know, are super smart, and you can back out the fact that Melco is the most disciplined in terms of our reinvestment. It's a constant internal discussion as well, which is sort of an annoying one because, you know, we see our competitors keep taking it up. As Evan mentioned earlier on, we don't wanna lead that race. I don't know. I'll let Evan elaborate on it further.
No, I Look, I think we feel good on where we are on a relative basis sitting here today. I think as you've remarked, a number of our competitors have done more aggressive things in the marketplace over the last few months, and we've responded. I don't get the sense that they're gonna double down on that because I think they've experienced that you sort of hit a point where the incremental benefit of that spend is very muted, and you end up having dilution, obviously, and profitability so that's why I say I feel like we've hit a stable point. I don't see in the near term a need for us to ratchet up.
That being said, as Lawrence articulated, if one of our competitors did something relative to the status quo that was very, very aggressive and the market followed, we probably would reluctantly need to change our approach but again, I think we are fighting to be disciplined and obviously are encouraging our other competitors to compete in a healthy way in the marketplace so sitting here today, I think we feel like we're stable.
Yeah. You know, we, you know, we respect the fact that Macau being the biggest market in the world is always gonna be very competitive, but I think we've always encouraged that we should compete based on product and service and not rebates and commissions and stuff like that. You know, it's unfortunate that we can't, you know, this is out of our control but at the same time, I think on product and service standpoint, we've talked, Evan talked quite a bit about REM. We're very excited about the all-new suite product and I think in due course, we're happy to, you know, show it off with our phase opening in Q3, because it's a truly unique product in, not only in Macau, but Macau, Hong Kong, and probably the entire Asia. It's probably something that's never been done before.
At the same time, we're also redoing our retail at City of Dreams. If anything, we've always felt that with our partnership with DFS ending, that was always an area of weakness. SoI think from a product offering standpoint, starting next year, we're gonna have some exciting new brands that we're dealing directly with, where we think will really complement the luxury proposition of City of Dreams.
Got it. That's good to hear. If I may ask a follow-up question. I just want to go back to the GGR trends for a second. Good to hear about the good color about the upcoming May holiday. I just want to go back to April. There's some market chatter that I think for the second overall win rate was low but more specifically, there was some chatter that, yeah, VIP volume was also weak. Just want to see if that's something you've seen, and also, if that's the case, is that really more transitory, nothing to be worried about, you know, especially as you look forward? That's something that you will have to pay attention. Thanks.
It's harder for us to answer that sort of market-wide. For us, it was probably not the strongest month, but to be fair, that is a business that we track almost player by player, given the concentration that exists in some of the large VIP play and so some of the players that had come in Q1 are due to be coming later in the quarter. I don't know that April set the world on fire for VIP. At the same time, I don't think there was anything we saw that was concerning in terms of the future health of that business.
That's good to hear. Thank you.
Your next question comes from DS Kim with JPMorgan. Please go ahead.
John, thanks for taking my question, good evening. As George said earlier, I really appreciate also us purchasing trademark at a reasonable, if not attractive valuation. Kudos to that. Just wanted to check on very high-level stuff, if I may, because we in the market came across news or government announcement last month that they want to establish, I think, a $20 billion MOP fund to support economic diversification and they target to raise, if I'm not mistaken, up to $9 billion MOP from private capital, private parties so just wondering, has there been any discussion between or with the government as to if we need to or if we want to participate in that fund?
If that's the case, is it gonna come out of our previous commitment for the non-gaming commitment at the license signing or would there be additional burden or commitment that we need to do in the future?
Hey, DS, yeah, and again, thank you for the question and thank you for the comment on the trademark. On the Macau government fund, we really can't comment too much about it but all I can say is that what we had committed as part of the license renewal back in, at the end of 2022 remains. You know, that amount is not gonna increase. Just to remind everybody, we were, you know, we were lucky to have the lowest commitment among the six concessionaires, and there will be no change to that amount.
Thank you, sir. That's really reassuring. Congrats again on a strong quarter. Thank you.
Your next question comes from George Choi with Citi. Please go ahead.
Thank you. Just a quick follow-up on the aforementioned refresh on CoD's retail, how should we think about disruption, if any? Thanks very much.
Maybe I'll take that one, and others can add. If you've been by the property, we've already started. If you go into sort of the front by the Cotai Strip and the luxury retail arc, the north section's already hoarded. We're already underway in terms of the remodel. Tim and the team here have developed a very good phasing plan so we're not gonna have any period where we think the property is gonna be massively impacted, but we are gonna be going zone by zone in really creating a brand-new retail experience throughout that podium level. That's gonna take place from now, and it's really gonna go on for the next 10-12 months. We're zoning it very carefully, but there is gonna be construction in various zones throughout that period.
We're also gonna go through a period with our tenants where we're keeping some old friends, but on a direct basis. We're making a lot of new friends with the new exciting names that we're glad are gonna be joining us and during this next three to four quarters, we're working with them, and at various times as they're disrupted, obviously providing relief to those tenants as they are committed to us and sticking with us during this transformational period. I guess what I will say is we're very excited about where we're gonna end up.
I think there's gonna be some work to do during the journey, but very proud of Tim and the construction team for really coming up with a really good phased plan, with some good ideas around hoarding and property activations that should minimize the disruption during that period.
All right. Thank you very much.
Thank you. There are no further questions at this time. I'll now hand back to Ms. Jeanny Kim for closing remarks.
Thank you, everybody, for joining the call again today. We'll see you next quarter. Thank you.
That does conclude our conference for today. Thank you for participating. You may now disconnect.
Investor releaseQuarter not tagged2026-05-04How Investors Are Reacting To Melco (MLCO) Q1 Earnings Beat And New US$500 Million Buyback
Simply Wall St.
How Investors Are Reacting To Melco (MLCO) Q1 Earnings Beat And New US$500 Million Buyback
In late April 2026, Melco Resorts & Entertainment reported first-quarter 2026 results showing higher revenues of US$1,366.71 million and net income of US$76.83 million, alongside authorizing a new US$500 million share repurchase program over three years. Beyond the headline growth, management’s decision to pair stronger earnings with an expanded buyback highlights a clear emphasis on capital returns and balance sheet deployment. We’ll now examine how the stronger first-quarter earnings and newly approved US$500 million repurchase program influence Melco’s investment narrative. Explore 26 top quantum computing companies leading the revolution in next-gen technology and shaping the future with breakthroughs in quantum algorithms, superconducting qubits, and cutting-edge research. To own Melco today, you need to believe its focus on premium mass customers and integrated resorts across Macau and other markets can support steady earnings while it manages debt and capital spending. The latest quarter’s higher revenues and net income, combined with an expanded US$500 million buyback, reinforce the near term catalyst of balance sheet optimization, but do not remove the key risk that a pullback in high end play or rising competition in Macau could pressure margins. The most relevant recent announcement is the new US$500 million share repurchase program over three years, on top of significant buybacks since 2024. This deepens the theme of using available liquidity and improved profitability to return capital, which sits alongside ongoing capex on projects like the Countdown Hotel. For investors watching catalysts, the balance between buybacks, interest costs and future investment plans will be crucial if operating trends become more volatile. Yet even with stronger earnings and a larger buyback, investors still need to be aware that concentrated premium mass exposure could quickly magnify any downturn in... Read the full narrative on Melco Resorts & Entertainment (it's free!) Melco Resorts & Entertainment's narrative projects $5.7 billion revenue and $438.0 million earnings by 2028. This requires 4.1% yearly revenue growth and about a $334 million earnings increase from $104.1 million today. Uncover how Melco Resorts & Entertainment's forecasts yield a $10.92 fair value, a 100% upside to its current price. Some of the lowest ranked analysts were penciling in revenue o...
Investor releaseQuarter not tagged2026-05-01Melco Resorts & Entertainment Q1 Earnings Call Highlights
MarketBeat
Melco Resorts & Entertainment Q1 Earnings Call Highlights
Strong Q1 results: Group and Macau property adjusted EBITDA rose about 12% YoY to roughly $381 million, Macau GGR increased ~10% YoY, and Macau property EBITDA margin expanded to about 28%. Trademark acquisition: Melco paid $375 million to buy trademarks from Melco International, a deal management says will immediately increase EBITDA and cash flow and only modestly raise leverage (under half a turn), funded by a credit draw and internal cash. Capital returns and liquidity: Available liquidity was about $2.4 billion at quarter-end, the board approved an incremental $500 million buyback (total authorization $710 million) after repurchasing ~2.5 million ADSs for ~$14 million YTD, and management aims to resume dividends by year-end 2026 while trimming 2026 capex to ~$425 million. Interested in Melco Resorts & Entertainment Limited? Here are five stocks we like better. How to Invest in Casino Stocks: Pros and Cons and More Melco Resorts & Entertainment (NASDAQ:MLCO) reported what management described as a “strong” first quarter of 2026, with year-over-year growth in both group and Macau earnings and continued progress on several strategic initiatives, including a new luxury hotel opening at City of Dreams Macau and a planned retail refresh. Chairman and CEO Lawrence Ho said both group property EBITDA and Macau property EBITDA increased 12% year-over-year during the first quarter. Ho added that Melco’s Macau gross gaming revenue (GGR) rose approximately 10% year-over-year, with “solid growth across all segments.” → Palantir Is Down 30%: Noise? Or a Signal to Accumulate? Executive Director and CFO Geoff Davis reported group-wide adjusted property EBITDA of approximately $381 million for Q1 2026, up 12% year-over-year. Adjusted for VIP hold, Davis said property EBITDA was approximately $356 million. He noted that favorable win rates at City of Dreams Macau and City of Dreams Manila benefited property EBITDA by approximately $20 million and $5 million, respectively. On costs, Davis said daily operating expenses in Macau (excluding House of Dancing Water) were approximately $3.2 million per day, “in line with our prior guidance.” Including House of Dancing Water and residency concerts over the last four quarters, total daily OpEx “has been relatively stable,” according to Davis. He said Macau property EBITDA margin increased to approximately 28%, which he attributed...
Investor releaseQuarter not tagged2026-05-01Melco (MLCO) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Zacks
Melco (MLCO) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Melco Resorts (MLCO) reported $1.37 billion in revenue for the quarter ended March 2026, representing a year-over-year increase of 10.9%. EPS of $0.21 for the same period compares to $0.12 a year ago. The reported revenue represents a surprise of +1.89% over the Zacks Consensus Estimate of $1.34 billion. With the consensus EPS estimate being $0.13, the EPS surprise was +61.54%. 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. As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Here is how Melco performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: Total segment operating revenues- Mocha and Other: $15.2 million versus the three-analyst average estimate of $15.25 million. The reported number represents a year-over-year change of -50.3%. Total segment operating revenues- Altira Macau: $38.1 million versus $34.04 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +36.6% change. Total segment operating revenues- City of Dreams Manila: $105.5 million versus $89.15 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +3.8% change. Total segment operating revenues- Studio City: $392 million versus the three-analyst average estimate of $376.24 million. The reported number represents a year-over-year change of +10.6%. Total segment operating revenues- City of Dreams: $734.6 million compared to the $725.44 million average estimate based on three analysts. The reported number represents a change of +11.6% year over year. Adjusted EBITDA- Mocha and Other: $4.21 million versus $2.21 million estimated by three analysts on average. Adjusted EBITDA- Altira Macau: $4.05 million compared to the $1.93 million average estimate based on three analysts. Adjusted EBITDA- City of Dreams: $214.36 million compared to the $211.31 million average estimate based on three analysts. Adjusted EBITDA- Studio City: $111.74 million versus the three-analyst average estimate of $98.1 milli...
Investor releaseQuarter not tagged2026-04-30Melco Resorts Announces Unaudited First Quarter 2026 Earnings
GlobeNewswire
Melco Resorts Announces Unaudited First Quarter 2026 Earnings
MACAU, April 30, 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 first quarter of 2026. Total operating revenues for the first quarter of 2026 were US$1.37 billion, representing an increase of approximately 11% from US$1.23 billion for the comparable period in 2025. The increase in total operating revenues was primarily attributable to the improved performance in mass market operations. Operating income for the first quarter of 2026 was US$179.0 million, compared with US$144.9 million in the first quarter of 2025. Melco Resorts’ Adjusted Property EBITDA(1) was US$381.0 million in the first quarter of 2026, compared with US$341.0 million in the first quarter of 2025. Net income attributable to Melco Resorts & Entertainment Limited for the first quarter of 2026 was US$76.8 million, or US$0.20 per American depositary share (“ADS”), compared with US$32.5 million, or US$0.08 per ADS, in the first quarter of 2025. The net loss attributable to noncontrolling interests was US$6.0 million and US$4.8 million during the first quarters of 2026 and 2025, respectively, the majority of which related to Studio City and City of Dreams Mediterranean and Other. Mr. Lawrence Ho, our Chairman and Chief Executive Officer, commented, “Melco Resorts’ Adjusted Property EBITDA grew by approximately 12% year-over-year to US$381 million for the first quarter of 2026. In Macau, Property EBITDA grew by approximately 12% year-over-year to US$334 million and Property EBITDA margin improved to approximately 28%. Our efforts continue to center on increasing flow through and profitability while enhancing our competitive positioning with key growth initiatives. “In the Philippines, City of Dreams Manila exhibited solid performance despite heightened competition and continued industry headwinds that continued into 2026, with Property EBITDA rising by 24% year-over-year. In Cyprus, results at City of Dreams Mediterranean and our satellite casinos were impacted by the conflicts in the Middle East that began in late February, which adversely affected tourism arrivals. We are closely monitoring developments and will remain operationally flexible as we position the business for a recovery in trave...
Investor releaseQuarter not tagged2026-04-30Studio City International Holdings Limited Announces Unaudited First Quarter 2026 Earnings
GlobeNewswire
Studio City International Holdings Limited Announces Unaudited First Quarter 2026 Earnings
MACAU, April 30, 2026 (GLOBE NEWSWIRE) -- 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 2026. Total operating revenues for the first quarter of 2026 were US$176.7 million, compared with US$161.7 million in the first quarter of 2025. The increase was primarily attributable to better performance in mass market operations leading to an increase in revenue from casino contract and higher overall non-gaming revenues. Studio City Casino generated gross gaming revenues of US$373.5 million and US$336.2 million for the first quarters of 2026 and 2025, respectively. Mass market table games drop was US$901.3 million in the first quarter of 2026, compared with US$923.9 million in the first quarter of 2025 and hold percentage was 36.9% in the first quarter of 2026, compared with 32.8% in the first quarter of 2025. Gaming machine handle for the first quarter of 2026 was US$1.09 billion, compared with US$0.87 billion in the first quarter of 2025 and win rate was 3.7% in the first quarter of 2026, compared with 3.8% in the first quarter of 2025. Revenue from casino contract was US$87.0 million for the first quarter of 2026, compared with US$75.9 million for the first quarter of 2025. Revenue from casino contract is net of gaming taxes and the costs incurred in connection with the on-going operation of the Studio City Casino which are deducted by Melco Resorts (Macau) Limited, the gaming operator of the Studio City Casino (the “Gaming Operator”). Total gaming taxes and the costs incurred in connection with the on-going operation of the Studio City Casino deducted from gross gaming revenues were US$286.5 million and US$260.2 million in the first quarters of 2026 and 2025, respectively. Total non-gaming revenues at Studio City for the first quarter of 2026 were US$89.8 million, compared with US$85.8 million for the first quarter of 2025. Operating income for the first quarter of 2026 was US$28.0 million, compared with US$15.3 million in the first quarter of 2025. Studio City’s Adjusted EBITDA(1) was US$80.0 million in the first quarter of 2026, compared with US$69.9 million in the first quarter of 2025. The change was mainly attributable to higher revenue from casino contract and non-gaming revenues, partial...
Investor releaseQuarter not tagged2026-04-28Melco Announces Earnings Release Date
GlobeNewswire
Melco Announces Earnings Release Date
MACAU, April 28, 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 first quarter of 2026 on Thursday, April 30, 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/10054138-v260p1.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,”...
Investor releaseQuarter not tagged2026-04-28Studio City Announces Earnings Release Date
GlobeNewswire
Studio City Announces Earnings Release Date
MACAU, April 28, 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 first quarter of 2026 on Thursday, April 30, 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),...
Investor releaseQuarter not tagged2026-04-25Will Melco (MLCO) Beat Estimates Again in Its Next Earnings Report?
Zacks
Will Melco (MLCO) Beat Estimates Again in Its Next Earnings Report?
Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Melco Resorts (MLCO), which belongs to the Zacks Gaming industry. This casino company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 53.79%. For the most recent quarter, Melco was expected to post earnings of $0.12 per share, but it reported $0.14 per share instead, representing a surprise of 16.67%. For the previous quarter, the consensus estimate was $0.11 per share, while it actually produced $0.21 per share, a surprise of 90.91%. For Melco, estimates have been trending higher, thanks in part to this earnings surprise history. And when you look at the stock's positive Zacks Earnings ESP (Expected Surprise Prediction), it's a great indicator of a future earnings beat, especially when combined with its solid Zacks Rank. Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Melco has an Earnings ESP of +38.46% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock's Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner. When the Earnings ESP comes up negative, investors should note that this will reduce the predictive power of the metric. But, a negative value is not indicative of a stock's earnings miss. Many companies end up beating the consensus EPS estimate, though this is not the only reason why their shares gain. Additionally, some stocks may remain stable even if they end up missin...
Investor releaseQuarter not tagged2026-04-04A Look At Melco Resorts & Entertainment (MLCO) Valuation After Recent Analyst Downgrades And Earnings Miss
Simply Wall St.
A Look At Melco Resorts & Entertainment (MLCO) Valuation After Recent Analyst Downgrades And Earnings Miss
Make better investment decisions with Simply Wall St's easy, visual tools that give you a competitive edge. Recent shifts in analyst sentiment toward Melco Resorts & Entertainment (MLCO) have put the stock in focus, after several major banks flagged slower expected Macau EBITDA growth, liquidity questions, margin pressure, and mixed quarterly results. See our latest analysis for Melco Resorts & Entertainment. At a share price of US$5.68, Melco Resorts & Entertainment has seen a 1 day share price return of a 1.56% decline and a 90 day share price return of a 24.37% decline. The 1 year total shareholder return of 18.33% contrasts with deeper 3 and 5 year total shareholder return losses, suggesting recent momentum has softened after a brief recovery phase. If analyst reactions to Melco have you reassessing your watchlist, this could be a useful moment to broaden your research and check out 20 top founder-led companies So with mixed analyst views, recent share price weakness and a sizeable gap to published targets, are you looking at a mispriced resort operator, or is the market already factoring in all of Melco’s future growth? The most followed narrative for Melco Resorts & Entertainment estimates a fair value of $10.92, which sits well above the last close of $5.68 and highlights the wide gap to current trading. Read the complete narrative. Want to see what assumptions sit behind that earnings and cash flow story? The narrative relies on measured revenue growth, rising margins and a different profit multiple to bridge from today’s price to its fair value target. Result: Fair Value of $10.92 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, this depends on premium players remaining strong and new markets like Cyprus and the Philippines delivering, while debt and planned capex do not restrict cash generation. Find out about the key risks to this Melco Resorts & Entertainment narrative. With sentiment clearly split between concern and optimism, this is a good time to move fast, review the details yourself, and weigh up 4 key rewards and 3 important warning signs If Melco has sharpened your focus, do not stop here; broaden your watchlist now so you are not the one hearing about opportunities after they move. Spot potential value gaps before the crowd by scanning 59 high quality undervalued stocks that pair str...
Investor releaseQuarter not tagged2026-03-13Studio City International Holdings Limited Announces Filing of Annual Report on Form 20-F for Fiscal Year 2025
GlobeNewswire
Studio City International Holdings Limited Announces Filing of Annual Report on Form 20-F for Fiscal Year 2025
MACAU, March 13, 2026 (GLOBE NEWSWIRE) -- Studio City International Holdings Limited (NYSE: MSC) (“Studio City” or the “Company”), a world-class integrated resort located in Cotai, Macau, today announced that it filed its annual report on Form 20-F for the fiscal year ended December 31, 2025. The annual report can be accessed under the Annual Reports section on the Company’s investor relations website at https://ir.studiocity-macau.com/annual-reports. The Company will provide a hard copy of its annual report containing the audited consolidated financial statements, free of charge, to its shareholders and ADS holders upon request. Requests can be made through the Information Request section on the Company’s investor relations website at https://ir.studiocity-macau.com/document-request. 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/a...
Investor releaseQuarter not tagged2026-02-25EARNINGS PREVIEW: Golden Matrix Provides Fundamentals Over Hype
Exec Edge
EARNINGS PREVIEW: Golden Matrix Provides Fundamentals Over Hype
By Karen Roman Global online gaming platform Golden Matrix Group Inc. (NASDAQ: GMGI) heads into its fiscal fourth-quarter and full-year results facing an investor base increasingly focused on execution rather than expansion narratives. The company has distinguished itself in a sector often driven by promotional spending and forward projections, emphasizing instead disciplined capital allocation, diversified revenue streams across more than 25 jurisdictions, and ownership of its underlying technology stack. Golden Matrix’s ability to maintain momentum during challenging periods, including geopolitical shocks, validates its infrastructure-first approach and positions it as a fundamentally sound investment rather than a speculative play. A central driver of performance remains Meridianbet, which plays a critical role as the operational engine driving GMGI’s performance. As the company’s flagship B2C operation, Meridianbet generates recurring cash flow across diverse geographies while validating GMGI’s proprietary technology stack in real-world, regulated environments. Unlike competitors who either have technology without scale, or scale without owning the technology, GMGI’s end-to-end platform ownership eliminates vendor dependency and enables profitable expansion. Meridianbet’s proven execution in challenging markets positions the company well to drive further growth and operational efficiency. GMGI has continued to prove the strategic value of its expanding regulatory footprint. Each license GMGI holds represents a barrier to entry, a trust signal to governments and partners, and a foundation for scalable growth. The company’s disciplined approach to regulation creates competitive advantages, by treating gaming as financial infrastructure requiring cybersecurity, AML/KYC compliance, and payments security. With licensing developments progressing in multiple markets, GMGI is poised to capture revenue share in high-growth jurisdictions around the world. GMGI owns its own proprietary technology stack. By owning its platforms end-to-end, the company is able to control risk, eliminate vendor dependencies, and maintain operational flexibility across diverse regulatory regimes, positioning it to continue to “scale without chaos,” as Meridianbet CEO Zoran Milosevic has said. This allows GMGI to operate simultaneously across multiple currencies, cultures and compliance...