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Business
November 2, 2022
Melco’s Q3 Report Signals 46% Drop in Revenue
Toward the end of October, Melco Resorts & Entertainment announced it was getting ready to recruit 1,000 employees to fill in the new positions for its new Mediterranean project in Cyprus. Now, the company has made its unaudited third-quarter earnings for 2022 public, signaling a 46% decrease in total operating revenue. Strict Traveling & Covid-19 […]
Casino
October 19, 2022
Melco’s Cyprus Project Needs More Than 1,000 Jobs to Fill
Melco Resorts & Entertainment has launched a new recruitment drive in a bid to fill in the vacancies for the upcoming City of Dreams Mediterranean integrated resort in Cyprus. The resort, which is still under construction, now needs to fill more than 1,000 available positions. The project fetches a hefty price tag worth €550 million […]
Casino
July 8, 2022
S&P to Downgrade Melco Resorts’ Credit
S&P Global Ratings, an American credit rating agency, may soon downgrade the credit of Melco Resorts & Entertainment and its Studio City. The reason for this is S&P’s doubts that Macau, a key region for Melco’s business, will recover from the pandemic anytime soon. S&P commented that Melco’s mass GGR is experiencing a slow recovery […]
Casino
May 11, 2022
Melco Macau Subsidiary to Go to Court with Former Business Partner
Melco Resorts & Entertainment subsidiary COD Resorts Limited is readying up to meet in court with a former business partner, Luk Hing Investment Limited, which is accused of having defaulted on payments for property and failed to meet further business obligations. COD Resorts Limited decided to step in and take control of Club Cubic, which […]
Casino
March 15, 2022
New Regulations Adopted by SEC Could Result in Melco Delisting from NASDAQ
Melco Resorts and Entertainment could be delisted from NASDAQ as the US Securities and Exchange Commission (SEC) adopted new regulations concerning foreign companies back in January. Even though there’s still no immediate cause for concern, the news rocked the company as its shares fell 15% on Friday. The news comes just after its CEO applied […]
Casino
March 14, 2022
Melco Resorts CEO Applies for License Extension Through December 31, 2022
Melco Resorts has become one of the first companies in Macau to apply for a license extension, the company chairman and CEO Lawrence Ho confirmed. The company is seeking to extend its concession by another six months in the special administrative region (SAR) as a final draft of binding regulatory and licensing agreements is expected […]
Business
February 7, 2022
Melco Resorts Billed for Crown Resorts Investigation in New South Wales
The Independent Liquor and Gaming Authority (ILGA) in New South Wales (NSW) has filed a lawsuit against Melco Resorts & Entertainment to recover some of the costs of the Bergin Inquiry into Crown Resorts. According to an exclusive report by the Australian Financial Review (AFR), the lawsuit has been filed in the Supreme Court. It […]
Industry
December 28, 2021
Wynn Macau and Melco Resorts Severed Ties with Junkets
Two of the six casino licensees in Macau, Wynn Macau and Melco Resorts, confirmed to have completely cut their ties with junket operators, an article in GGRAsia revealed. Wynn Macau and Melco Resorts The junket sector has been seriously hit after the arrest of Suncity chief executive officer Alvin Chao last month when analysts predicted […]
Casino
December 16, 2021
Cyprus Casinos by Melco Receive the Prestigious RG Check Accreditation
The operator of Cyprus Casinos (C2), Melco Cyprus, has announced that C2 gained accreditation by RG Check for responsible gambling. The operator of City of Dreams Mediterranean, the upcoming integrated resort, is the first in Europe to receive this type of endorsement. Melco Cyprus Checks One Additional Major Achievement As C2’s operator, Melco Cyprus also […]
Industry
July 9, 2021
Melco Rolls Out Share Purchase and Award Program for Eligible Employees
One of the largest integrated resorts developers and casino operators in the world, Melco Resorts and Entertainment, announced Thursday the launch of a new Share Purchase and Award Program for its workforce. Eligible Melco employees participating in the program have the unique benefit of purchasing company shares. Melco Unveils a New Share Purchase and Awards […]