Benzinga | Jul 27, 2021 11:13AM EDT

Recap: Melco Resorts and Enter Q2 Earnings



Shares of Melco Resorts and Entertainment (NASDAQ:MLCO) remained unaffected after the company reported Q2 results.

Quarterly Results

Earnings per share increased 51.25% year over year to ($0.35), which beat the estimate of ($0.36).

Revenue of $566,440,000 higher by 222.12% from the same period last year, which missed the estimate of $615,160,000.

Looking Ahead

Melco Resorts and Enter hasn't issued any earnings guidance for the time being.

Melco Resorts and Enter hasn't issued any revenue guidance for the time being.

Details Of The Call

Date: Jul 27, 2021

Time: 08:30 AM

ET Webcast URL: https://edge.media-server.com/mmc/p/wx8gzguk

Recent Stock Performance

Company's 52-week high was at $23.65

52-week low: $13.70

Price action over last quarter: down 27.47%

Company Overview

Melco Resorts is one of only six companies with a licence to operate casinos in Macao, the only region in China with legalized gambling. It operates Altira, a complex focused on VIP customers; City of Dreams, an integrated resort in Cotai serving both mass-market and premium-end patrons; and Mocha Clubs electronic gaming machines. In addition, the company also has a majority interest in Studio City, a new casino in Cotai that opened in October 2015. Outside Macao, Melco also owns City of Dreams Manila in Philippines, and 75% stake in City of Dreams Mediterranean in Cyprus. The business mix in term of adjusted EBITDA was about 84% from Macao, and the rest largely from Philippines as of 2019.