Spread the love

Melco International Development Limited (“Melco International” or the “Company”, together with its subsidiaries (collectively the “Group”), HKEx Code:200) today announced its annual results for the year ended 31 December 2021.

The Group’s net revenues totaled HK$15.64 billion for the year ended 31 December 2021, an increase of 16.5% compared with the HK$13.42 billion recorded in 2020. The increase was mainly attributable to improved performance in its casino and hospitality operations primarily as a result of the year-over-year increase in inbound tourism in Macau. Loss for the year was HK$7.94 billion in 2021, compared with a loss for the year of HK$12.38 billion in 2020. The Group generated Adjusted EBITDA of HK$1.54 billion in 2021, compared to negative Adjusted EBITDA of HK$1.20 billion in 2020.

The Group’s balance sheet and liquidity profile have improved primarily as the result of its debt financing activity and a better operating environment. In June and July 2021, Melco Resorts Finance Limited and Studio City Finance Limited listed a total of US$2.25 billion of senior notes on the Chongwa (Macao) Financial Asset Exchange Co., Limited, with the hope that this will aid the development and diversification of Macau’s economy and bond market.

Mr. Lawrence Ho, Group Chairman and Chief Executive Officer of Melco International, said, “As many parts of the world have started to move beyond the pandemic situation and live with the new normal, we witnessed higher EBITDA across each of our geographies in the fourth quarter of 2021. We are confident that our customers will return in numbers once restrictions are eased.

“Despite the continued uncertainties, we remain optimistic about the Group’s medium and long-term growth prospects. Macau is still home to the world’s most attractive integrated resort market, and the Group is set to reap the benefits of the renovations at City of Dreams and the Studio City Phase 2 development. Due for completion by the end of 2022, Studio City Phase 2 will feature two new hotels, including W Macau – Studio City, with a total of 900 rooms, one of the largest indoor and outdoor water parks in Asia, a six-screen Cineplex complete with two regular screens and four VIP suites, and a state-of-the-art MICE space. The coming months will also see the Group continuing the strategic repositioning of Altira Macau to better target the premium mass segment.

“In the Greater Bay Area, the majority of the Group’s Zhongshan development project is due to be completed by 2025. The project is representative of the Group’s commitment to participating in the development of the Greater Bay Area. We will leverage our abundant experience in creating extraordinary entertainment amenities and our own intellectual properties in Macau to ensure the successful development and management of the theme park, restaurants and other facilities in the complex.

“In Europe, meanwhile, the construction of City of Dreams Mediterranean is progressing with the launch date expected to fall in the second half of 2022. Upon completion, City of Dreams Mediterranean will be the largest integrated resort in Europe, boasting approximately 500 luxury hotel rooms, around 100,000 square feet of cutting-edge MICE space, a family adventure park, an outdoor amphitheatre, and a variety of fine dining and luxury retail outlets.

“Looking ahead, with our upgraded properties and upcoming new projects, we look forward to bringing new experiences to our guests and further strengthening our pioneering and innovative role in providing premium travel, leisure and entertainment. Once travel restrictions are relaxed both locally and abroad, we will be fully prepared to address the pent-up demand of our many loyal customers.”

 Commitments towards Sustainability

During the year, the Group has devoted substantial efforts to sustainability with a focus on energy and waste reduction. To highlight some of these achievements, the Group’s ongoing efficiency measures have accumulated annual savings of 53,579 MWh in Macau alone, equivalent to the electricity consumption of approximately 6,897 households per year. The Group has installed Winnow, an artificial Intelligence (AI)-driven technology in food waste, in the kitchens and dining areas of its employee dining rooms to monitor food waste, inform its chefs on inventory management and menu planning, and create internal awareness on food waste reduction. By replacing food and beverage containers with biodegradable and sustainable alternatives, it can avoid the use and wastage of approximately 9.5 tonnes of single-use plastic per year. With the NORDAQ water filtration and bottling system, the Group will gradually eliminate approximately 14.8 million plastic bottles annually in Macau alone.

The Group’s commitment to sustainability was further highlighted when Studio City Phase 2 received the “Regional Award, Asia” at the 2021 BREEAM Awards in recognition of the sustainability related measures implemented during the project, as well as its contribution to the Group’s carbon neutral and zero waste goals. In addition, the Group’s sustainability strategy “Above & Beyond” has been celebrated by the Pacific Asia Travel Association (“PATA”) through its PATA Gold Awards 2021 as the winner of the “Climate Change Initiative” category, and the Group was also named “Sustainable Resort of the Year” by the International Gaming Awards 2021.

In addition, Nüwa Manila, Nobu Hotel and Hyatt Regency Manila, City of Dreams Manila were recognized with the 2022-2024 ASEAN Green Hotel Award in the ASEAN Tourism Forum, honouring our commitment to the highest standards of sustainable operations and corporate social responsibility initiatives.

 Safeguarding the Wellbeing of Guests and Colleagues

To support government efforts for widespread vaccination and ensure a safe environment for colleagues, guests and the community, the Group launched the “Get the Jab” immunity incentive program at a cost of nearly MOP16 million, with the aim of encouraging colleagues to get inoculated. The vaccination program incentives have included million-dollar lucky draws for all eligible, fully vaccinated colleagues, in which six colleagues each won MOP1 million in cash prizes. Further initiatives included MOP/HKD1,000 prize money for each fully vaccinated colleague, shuttle transportation to attend vaccination appointments, and paid vaccine leave. Also, in coordination with the Macau Health Bureau and the Center for Disease Control and Prevention, health seminars and vaccination outreach sessions were provided for colleagues. To date, the Group’s colleague vaccination rate in Macau and Manila has reached 95% and 99%, respectively.