personally purchased $60 million<\/a> worth of senior notes offered by Studio City International Holdings Limited, which are due in 2025 at a six percent interest rate.<\/strong><\/p>\n<\/div>\nMelco has publicly revealed its plans to invest $500 million in new Class A ordinary shares offered by Studio City. Melco already owns a 54.3 percent stake in Studio City and controlled a 21.4 percent market share in Macau during the first three months of 2020.<\/p>\n
“We remain bullish on Melco’s long-term growth prospects,” Ho said in May. “Macau remains the most attractive integrated resort market in the world, benefiting from the expanding Chinese middle class and infrastructure development in the Greater Bay Area.”<\/p>\n
Earnings Trickle In\u00a0<\/b><\/h2>\n
Melco Resorts is expected to reveal its second quarter earnings report in the coming days. The company has yet to confirm an exact date.<\/p>\n
Among the financial analysts who have offered earnings predictions for the three-month period, the consensus forecast calls for a loss of $0.85 per share and revenue of $187.3 million. That would be a year-over-year revenue decline of 87 percent.<\/strong><\/p>\nWhile Melco’s Macau gaming properties are bringing in some revenue, its integrated resort in the Philippines remains closed. This week, the Filipino government announced a stricter lockdown on the capital city, which will keep casinos closed until at least August 18.<\/p>\n","protected":false},"excerpt":{"rendered":"
Melco Resorts, one of the six licensed casino operators in Macau, has unveiled its intentions to raise an additional $500 million through the issuance of senior notes. In a press release and filings made with the US Securities and Exchange Commission, the casino operator based in Hong Kong said the supplementary notes will come with […]<\/p>\n","protected":false},"author":25,"featured_media":143761,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,10],"tags":[],"acf":[],"yoast_head":"\n
Melco Resorts Announces $500M Senior Note Offering Due in 2028<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n