Melco Resorts Earnings
Melco Resorts operates integrated resorts and casinos in Asia. The company’s CEO, Lawrence Ho, said that they are “encouraged” by the situation in Macau, despite the fact that the colony reported a 30% year-over-year decline in Q4 revenue to $337m. This decline was caused by travel restrictions that were in place during the quarter, which limited the number of visitors to Macau.
Additionally, the company’s operating losses nearly doubled year-over-year to $200m. This is a significant challenge for the company, and it highlights the difficulties that the gaming industry is facing due to the COVID-19 pandemic and related travel restrictions.