Melco Resorts & Entertainment Limited

NASDAQ•MLCO

CEO: Mr. Yau Lung Ho

Sector: Consumer Cyclical

Industry: Gambling, Resorts & Casinos

Listing Date: 2006-12-19

Melco Resorts & Entertainment Limited develops, owns, and operates casino gaming and resort facilities in Asia and Europe. It owns and operates City of Dreams, an integrated casino resort that has gaming tables and gaming machines; suites and villas; restaurants and bars; retail outlets; a wet stage performance theater; and recreation and leisure facilities, including health and fitness clubs, swimming pools, spas and salons and banquet and meeting facilities. The company also operates Altira Macau, a casino hotel, which has gaming tables and gaming machines; hotel rooms; dining and casual restaurants; recreation and leisure facilities; and non-gaming amenities. In addition, it operates Studio City, a cinematically themed integrated resort with gaming facilities, hotel, entertainment, retail, and food and beverage outlets in Cotai, Macau. Further, the company owns and operates Mocha Clubs with gaming machines, as well as Grand Dragon casino in Taipa Island, Macau. Additionally, it operates and manages City of Dreams Manila, an integrated resort in the Entertainment City complex in Manila; a casino in Limassol and satellite casinos in Nicosia, Ayia Napa, and Paphos in Cyprus; and develops and operates City of Dreams Mediterranean, an integrated casino resort in Cyprus. The company was formerly known as Melco Crown Entertainment Limited and changed its name to Melco Resorts & Entertainment Limited in April 2017. The company was incorporated in 2004 and is headquartered in Central, Hong Kong. Melco Resorts & Entertainment Limited is a subsidiary of Melco Leisure and Entertainment Group Limited.

Contact Information

The Centrium, 38th Floor 60 Wyndham Street, Central, Hong Kong

852-2598-3600

www.melco-resorts.com

Market Cap

$2.24B

P/E (TTM)

11.7

17.2

Dividend Yield

52W High

$10.15

52W Low

$4.95

52W Range

11%

Rank45Top 56.8%

3.6

F-Score

Modified Piotroski Analysis

Based on 10-year fundamentals

Weak • 3.6 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2016-2025

Financial Dashboard

Q4 2025 Data

Revenue

$1.29B+0.00%

4-Quarter Trend

EPS

$0.15+0.00%

4-Quarter Trend

FCF

$0.00+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Revenue Growth Reaches $5.16 B Total operating revenues reached $5.16 B USD in 2025, marking an 11.3% increase from $4.64 B reported in 2024.

Profitability Rebound Achieved Net income attributable to shareholders was $185.0 M USD in 2025, a significant improvement versus $43.5 M recorded in 2024.

Macau Premium Market Strength City of Dreams rolling chip volume grew 16.7% to $23.40 B USD in 2025, driven by inbound tourism recovery.

Sri Lanka Casino Launched Sri Lanka Casino commenced operations on August 1, 2025, successfully expanding the international resort footprint.

Risk Factors

PRC Regulatory Exposure Operations highly sensitive to PRC/Macau government policies, travel restrictions, and tightened cross-border currency controls.

High Leverage Position Total gross indebtedness stands at $6.77 B USD as of December 31, 2025, increasing financing vulnerability and debt service pressure.

Macau Concession Compliance Failure to meet complex Macau Concession Contract terms risks revocation, leading to potential loss of assets.

Intense Market Competition Facing strong competition across Macau, Philippines, and Cyprus from larger, more diversified global hospitality operators.

Outlook

Project Enhancement Focus Continued capital expenditure planned for maintaining and enhancing integrated resort offerings across all key jurisdictions.

Technology Integration Required Significant capital required to develop and successfully incorporate rapidly evolving technologies, including AI solutions, into operations.

ESG Mandates Impact Increasing regulatory scrutiny on ESG matters may necessitate costly initiatives, potentially constraining growth expectations.

Capital Structure Review Management will continue evaluating capital structure, including refinancing debt or monetizing assets to fund future growth.

Peer Comparison

Revenue (TTM)

MLCO

$5.16B

+11.3%

LEG

$4.06B

-7.5%

GIII

$3.36B

+8.3%

Gross Margin (Latest Quarter)

MCRI

47.1%

-8.6pp

CRI

43.2%

-1.9pp

MLCO

36.7%

+2.0pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
MLCO	$2.24B	11.7	-13.9%	92.5%
MCRI	$2.12B	19.3	20.0%	1.8%
LEG	$1.47B	6.6	26.1%	46.8%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

1.6%

Moderate Growth

4Q Net Income CAGR

23.1%

Profitability Improved

Cash Flow Stability

Cash Flow Needs Attention

Deep Research

Next earnings:May 6, 2026

EPS:$0.09

Revenue:$1.32B

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data