Melco Crown Company profile
About Melco Resorts & Entertainment Ltd(ADR)
Melco Resorts & Entertainment Limited, formerly Melco Crown Entertainment Limited, is a holding company. The Company, through its subsidiaries, develops, owns and operates casino gaming and entertainment casino resort facilities in Asia. It is principally engaged in the gaming and hospitality business in Asia and its principal operating and developmental activities occur in over two geographic areas, which include Macau and the Philippines. Its segments include City of Dreams, Altira Macau, Studio City, Mocha Clubs, City of Dreams Manila, and Corporate and Others. It has over three casino based operations in Macau, namely, City of Dreams, Altira Macau and Studio City, and non-casino based operations in Macau at its Mocha Clubs. It also has a casino based operation in the Philippines, City of Dreams Manila. It is developing the fifth hotel tower at City of Dreams in Cotai, Macau. Its other operations also include Taipa Square Casino, Macau operating within Hotel Taipa Square.
Financial summary
BRIEF: For the fiscal year ended 31 December 2021, Melco Resorts & Entertainment Ltd(ADR) revenues increased 16% to $2.01B. Net loss decreased 36% to $811.8M. Revenues reflect Occupancy - %-City of Dreams Manila increase of 43% to 76%, Casino increase of 14% to $1.68B, Rooms increase of 45% to $157.5M. Lower net loss reflects Other income, net increase from $151M (expense) to $3.1M (income), Depreciation and amortization decrease of 7% to $499.7M (expense).
Equity composition
Common Stock $.01 Par, 12/10, 2.5B auth., 1,614,067,297 issd. less 8,409,186 shs. in Treas. @ $84K. Insiders 67.77% approx., IPO:12/2006, 60.3M shs. @ $19 by CreditSuisse Securities (USA) LLC. 06/08, Name changed from Melco PBL Entertainment Ltd.
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