{"id":41731,"date":"2020-05-15T09:48:34","date_gmt":"2020-05-15T09:48:34","guid":{"rendered":"https:\/\/gaming-awards.com\/NEWS\/?p=41731"},"modified":"2020-05-15T09:48:34","modified_gmt":"2020-05-15T09:48:34","slug":"melco-resorts-q1-revenues-profits-fall","status":"publish","type":"post","link":"https:\/\/gaming-awards.com\/NEWS\/melco-resorts-q1-revenues-profits-fall\/","title":{"rendered":"Melco Resorts Q1 Revenues & Profits Fall"},"content":{"rendered":"
\"\"

Lawrence Ho<\/p><\/div>\n

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.<\/p>\n

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.<\/p>\n

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.<\/p>\n","protected":false},"excerpt":{"rendered":"

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 […]<\/p>\n","protected":false},"author":3,"featured_media":24355,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,11,8,7],"tags":[],"class_list":["post-41731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gaming","category-headlines","category-latest","category-macau"],"yoast_head":"\nMelco Resorts Q1 Revenues & Profits Fall - iGaming Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gaming-awards.com\/NEWS\/melco-resorts-q1-revenues-profits-fall\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Melco Resorts Q1 Revenues & Profits Fall - iGaming Post\" \/>\n<meta property=\"og:description\" content=\"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. 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