Melco Resorts Q1 Revenues & Profits Fall

Lawrence Ho

Macau based Melco Resorts & Entertainment reported their Q1 results today showing a net loss of $364 million compared to a profit of $120.1 Million in the same quarter of 2019. This combined with revenues dropping by 40% to $964 million.

The large falls in revenues and profit were of course due to the continuing COVID-19 pandemic which has seen their operations in Manila and Cyprus closed and its Macau business severely impaired due to travel restrictions.

CEO & Chairman of Melco, Lawrence Ho said that although the company was seeing declining business it had liquidity of over $1.2 billion to ensure going forward the company would be sustainable.