{"id":714818,"date":"2022-11-25T22:17:52","date_gmt":"2022-11-26T03:17:52","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/melco-announces-provisional-award-of-gaming-concession\/"},"modified":"2022-11-25T22:17:52","modified_gmt":"2022-11-26T03:17:52","slug":"melco-announces-provisional-award-of-gaming-concession","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/melco-announces-provisional-award-of-gaming-concession\/","title":{"rendered":"Melco Announces Provisional Award of Gaming Concession"},"content":{"rendered":"
\n

MACAU, Nov. 26, 2022 (GLOBE NEWSWIRE) — Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (\u201cMelco\u201d or the \u201cCompany\u201d), a developer, owner and operator of integrated resort facilities in Asia and Europe, today announces that the Macau government has provisionally awarded a ten-year concession to operate games of fortune and chance in casinos in Macau to Melco Resorts (Macau) Limited, a subsidiary of the Company. The final award of such concession, and the terms and conditions of the concession contract, remain subject to the determination of the Macau government.<\/p>\n

\n Mr. Lawrence Ho, Chairman and Chief Executive Officer of Melco<\/strong> commented, \u201cWe are honored to have been selected and granted a provisional award for the concession to operate gaming in Macau and would like to thank the Macau government for running a smooth and transparent process. We are committed to Macau and its development as Asia\u2019s premier tourist destination.\u201d<\/p>\n

\n Safe Harbor Statement<\/strong>\n <\/p>\n

This press release contains forward-looking statements. These statements are made under the \u201csafe harbor\u201d provisions of the U.S. Private Securities Litigation Reform Act of 1995. Melco Resorts\u00a0& Entertainment Limited (the \u201cCompany\u201d) may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the \u201cSEC\u201d), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company\u2019s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to, (i)\u00a0the global\u00a0COVID-19\u00a0outbreak, caused by a novel strain of the coronavirus, and the continued impact of its consequences on our business, our industry and the global economy, (ii)\u00a0risks associated with the newly adopted gaming law in Macau and its implementation by the Macau government and our ability to obtain a final award of a new concession under the public tender being conducted by the Macau government and the terms and conditions of the concession contract, if we are granted one, (iii)\u00a0growth of the gaming market and visitations in Macau, the Philippines and the Republic of Cyprus, (iv)\u00a0capital and credit market volatility, (v)\u00a0local and global economic conditions, (vi)\u00a0our anticipated growth strategies, (vii)\u00a0gaming authority and other governmental approvals and regulations, and (viii)\u00a0our future business development, results of operations and financial condition. In some cases, forward-looking statements can be identified by words or phrases such as \u201cmay\u201d, \u201cwill\u201d, \u201cexpect\u201d, \u201canticipate\u201d, \u201ctarget\u201d, \u201caim\u201d, \u201cestimate\u201d, \u201cintend\u201d, \u201cplan\u201d, \u201cbelieve\u201d, \u201cpotential\u201d, \u201ccontinue\u201d, \u201cis\/are likely to\u201d or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company\u2019s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company undertakes no duty to update such information, except as required under applicable law.<\/p>\n

\n About Melco Resorts\u00a0& Entertainment Limited<\/strong>\n <\/p>\n

The Company, with its American depositary shares listed on the Nasdaq Global Select Market (Nasdaq: MLCO), is a developer, owner and operator of integrated resort facilities in Asia and Europe. The Company currently operates Altira Macau (www.altiramacau.com<\/a>), an integrated resort located at Taipa, Macau and City of Dreams (www.cityofdreamsmacau.com<\/a>), an integrated resort located in Cotai, Macau. Its business also includes the Mocha Clubs (www.mochaclubs.com<\/a>), which comprise the largest non-casino based operations of electronic gaming machines in Macau. The Company also majority owns and operates Studio City (www.studiocity-macau.com<\/a>), a cinematically-themed integrated resort in Cotai, Macau. In the Philippines, a Philippine subsidiary of the Company currently operates and manages City of Dreams Manila (www.cityofdreamsmanila.com<\/a>), an integrated resort in the Entertainment City complex in Manila. In Europe, the Company is currently developing City of Dreams Mediterranean (www.cityofdreamsmed.com.cy<\/a>) in the Republic of Cyprus, which is expected to be the largest and premier integrated destination resort in Europe. The Company is currently operating a temporary casino, the first authorized casino in the Republic of Cyprus, and is licensed to operate four satellite casinos (\u201cCyprus Casinos\u201d). Upon the opening of City of Dreams Mediterranean, the Company will continue to operate the satellite casinos while operation of the temporary casino will\u00a0cease. For more information about the Company, please visit www.melco-resorts.com<\/a>.<\/p>\n

The Company is strongly supported by its single largest shareholder, Melco International Development Limited, a company listed on the Main Board of The Stock Exchange of Hong Kong Limited and is substantially owned and led by Mr. Lawrence Ho, who is the Chairman, Executive Director and Chief Executive Officer of the Company.<\/p>\n

\n For the investment community, please contact:<\/strong>
\n
Jeanny Kim
Senior Vice President, Group Treasurer
Tel: +852 2598 3698
Email: jeannykim@melco-resorts.com<\/a><\/p>\n

\n For media enquiries, please contact:<\/strong>
\n
Chimmy Leung
Executive Director, Corporate Communications
Tel: +852 3151 3765
Email: chimmyleung@melco-resorts.com<\/a><\/p>\n<\/p>\n


\n
\n \n <\/div>\n

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

MACAU, Nov. 26, 2022 (GLOBE NEWSWIRE) — Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (\u201cMelco\u201d or the \u201cCompany\u201d), a developer, owner and operator of integrated resort facilities in Asia and Europe, today announces that the Macau government has provisionally awarded a ten-year concession to operate games of fortune and chance in casinos in Macau to Melco Resorts (Macau) Limited, a subsidiary of the Company. The final award of such concession, and the terms and conditions of the concession contract, remain subject to the determination of the Macau government. Mr. Lawrence Ho, Chairman and Chief Executive Officer of Melco commented, \u201cWe are honored to have been selected and granted a provisional award for the concession to operate gaming in Macau and … <\/p>\n

Continue reading “Melco Announces Provisional Award of Gaming Concession”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-714818","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nMelco Announces Provisional Award of Gaming Concession - Market Newsdesk<\/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:\/\/www.marketnewsdesk.com\/index.php\/melco-announces-provisional-award-of-gaming-concession\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Melco Announces Provisional Award of Gaming Concession - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"MACAU, Nov. 26, 2022 (GLOBE NEWSWIRE) — Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (\u201cMelco\u201d or the \u201cCompany\u201d), a developer, owner and operator of integrated resort facilities in Asia and Europe, today announces that the Macau government has provisionally awarded a ten-year concession to operate games of fortune and chance in casinos in Macau to Melco Resorts (Macau) Limited, a subsidiary of the Company. The final award of such concession, and the terms and conditions of the concession contract, remain subject to the determination of the Macau government. 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