In 2024, Melco International Development Limited, the Hong Kong Stock Exchange-listed parent of Macau-based Melco Resorts & Entertainment, reported a significant reduction in its annual financial losses. The company detailed a loss of HK$784.6 million ($100.9 million), marking a notable 55% decrease from the previous year. Enhanced operational performance: This financial improvement was supported by a robust 22.5% increase in net revenues, which soared to HK$36.17 billion ($4.65 billion). The revenue boost is largely attributed to a vibrant recovery in Macau’s inbound tourism and the successful ramp-up of […]

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In Cyprus and the company behind the coming City of Dreams Mediterranean development reportedly hosted an inaugural jobs fair yesterday in hopes of filling as many as 1,000 positions. According to a Friday report from the local O Phileleftheros newspaper, the move from casino resort operator Melco Resorts and Entertainment Limited comes as the new €550 million ($581 million) development is looking to open by the end of the year. The Hong Kong-listed firm earlier detailed that the finished 500-room […]

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In Macau and the government has reportedly ordered local casinos and most of the enclave’s other commercial businesses to close for at least a week in an attempt to fight the rising prevalence of coronavirus. According to a report from the Associated Press news service, the lockdown began this morning some 29 months after the city of approximately 700,000 people went through an analogous 15-day stoppage owing to an earlier coronavirus outbreak. The source detailed that this preceding move was […]

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Asian casino operator Melco Resorts and Entertainment Limited could reportedly soon be de-listed from the Nasdaq bourse under rules adopted by the United States Securities and Exchange Commission in January. According to a report from GGRAsia, the Hong Kong-headquartered firm behind a trio of Macau casinos was yesterday reportedly placed on the federal agency’s provisional list of foreign companies that are set to be de-listed. The source explained that the revelation saw the value of individual shares in the operator […]

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For the second consecutive weekend and the aggregated value of shares in the six-strong club of licensed Macau casino operators has reportedly dropped significantly owing to a number of factors including the ongoing presence of coronavirus. According to a report from Inside Asian Gaming, the combined market cap of the Hong Kong-listed sextuplet plummeted by 8.7% from Friday to Monday to stand at approximately $46.66 billion. The source detailed that this followed an analogous 6.3% drop last weekend to about […]

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The six-strong club of Hong Kong-listed casino operators in Macau reportedly saw the aggregated value of their shares drop by almost $3.5 billion over the weekend as investors exercised caution regarding the future of the once booming sector. According to a report from Inside Asian Gaming, the dip in the casino operators’ share prices began on Friday afternoon with their combined market cap now standing some 6.3% lower at approximately $51.6 billion. Although the reasons for this sudden depreciation remain […]

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Asian casino operator Melco Resorts and Entertainment Limited has reportedly announced that the provisional opening date for its under-construction City of Dreams Mediterranean venue has been brought forward to the summer of next year. According to a report from Inside Asian Gaming, the €550 million ($668 million) development for southeastern Cyprus was set to open its doors by the end of the year but had this initial timeline pushed back owing to delays caused by the ongoing coronavirus pandemic. The […]

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The provisional opening date for the €550 million ($668 million) integrated casino resort being built in Cyprus by Melco International Development Limited has reportedly been pushed back by over nine months to the autumn of next year. According to a Wednesday report from the Financial Mirror newspaper, construction on the giant City of Dreams Mediterranean development began in June of 2018 in hopes that the five-star facility would be able to start welcoming guests to its 500 rooms by the […]

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The almost 40 casinos in Macau are reportedly continuing to be negatively impacted by the coronavirus pandemic as they saw aggregated gross gaming revenues for January decrease by some 63.7% year-on-year to slightly beyond $1 billion. According to a report from Inside Asian Gaming citing official figures from the enclave’s Gaming Inspection and Coordination Bureau regulator, the result represents the 16th consecutive month of year-on-year declines from the Asian casino hotspot and followed a December in which the finishing figure was […]

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In Cyprus and casino operator Melco International Development Limited has reportedly been forced to temporarily shutter its five-strong chain of Cyprus Casinos (C2) ‘satellite’ venues for the remainder of the year owing to the coronavirus pandemic. According to a report from GGRAsia, the Hong Kong-headquartered firm is responsible for modest casinos in the communities of Nicosia, Paphos, Larnaca, Limassol and Ayia Napa and is additionally in the process of constructing the much larger City of Dreams Mediterranean development in the small village […]

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