{"id":276,"date":"2024-06-28T12:01:42","date_gmt":"2024-06-28T09:01:42","guid":{"rendered":"https:\/\/newnodepositcasinos.icu\/2024\/06\/28\/melco-resorts-entertainment-to-raise-funds-amidst-income-decline\/"},"modified":"2024-06-28T12:01:42","modified_gmt":"2024-06-28T09:01:42","slug":"melco-resorts-entertainment-to-raise-funds-amidst-income-decline","status":"publish","type":"post","link":"https:\/\/newnodepositcasinos.icu\/2024\/06\/28\/melco-resorts-entertainment-to-raise-funds-amidst-income-decline\/","title":{"rendered":"Melco Resorts &#038; Entertainment to Raise Funds Amidst Income Decline"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/9DSnJlr1wTo\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Melco Resorts &#038; Entertainment has declared it will secure up to HK$5.03 billion through a stock offering and loans from its parent organization to tackle the difficulties of its substantial income decrease in the initial six months of 2022.<\/p>\n<p>Melco Resorts &#038; Entertainment&#8217;s income in the first half of 2022 was HK$4.12 billion, signifying a 20.9% reduction compared to the same timeframe in 2021.<\/p>\n<p>In comparison to the pre-pandemic income of HK$17.07 billion in the initial six months of 2019, income has plummeted by 75.8%.<\/p>\n<p>Gaming income alone was HK$3.81 billion, showing a 24.9% year-over-year decline and a 77.2% drop compared to 2019.  The majority of this income originated from mass market table games, which generated HK$3.43 billion.  VIP gaming income was HK$386.9 million, and slot machines and other gaming income totaled HK$248 million.<\/p>\n<p>The remaining HK$317.7 million stemmed from hotel, food and beverage, retail, and rental-related income.<\/p>\n<p>After subtracting special gaming taxes, special levies, and gaming premiums, totaling HK$1.66 billion, net gaming income was HK$2.14 billion.<\/p>\n<p>Income from hotels, restaurants, retail, rentals, and other services amounted to HK$317.7 million, and there was also an increase of HK$2.2 million in profit sharing from joint ventures.<\/p>\n<p>Despite the decrease in income, expenditures have risen. <\/p>\n<p>Management and administrative expenditures were the most significant, reaching HK$4.36 billion, a rise of HK$513.9 million from the initial half of 2021. Financial expenses were HK$398 million, a year-on-year increase of HK$381.4 million.<\/p>\n<p>The remaining HK$462.1 million includes marketing and promotional costs, sales and service charges related to hotel operations, and other losses.<\/p>\n<p>After deducting expenses, the pre-tax loss was HK$2.75 billion. After subtracting HK$10.7 million in taxes, the total loss for the period was HK$2.77 billion, an increase of 84.9% from the corresponding period last year.<\/p>\n<p>This is HK$4.5 billion less than pre-pandemic levels.<\/p>\n<p>Adjusted EBITDA was a loss of HK$1.17 billion, more than double the loss of HK$510 million in the first half of 2021.<\/p>\n<p>Sands China&#8217;s GGR was HK$705 million, while Sands Cotai Central&#8217;s GGR was HK$231 million. The GGR of other self-operated casinos (including Sands Macau, Sands Macao, Sands Oriental, and Sands Taipa) was HK$674 million.<\/p>\n<p>Satellite casinos, which are 14 third-party promoted casinos, had a GGR of HK$2.46 billion.<\/p>\n<p>The company also mentioned details of the upcoming share issuance and a HK$2 billion loan provided by its parent company, Las Vegas Sands.<\/p>\n<p>Las Vegas Sands will provide Sands China with a HK$2 billion loan for a period of six years at an annual interest rate of 4%.<\/p>\n<p>A maximum of 1.45 billion shares will be issued as part of the fundraising, at a price of HK$2.08 per share. After deducting expenses, Sands China expects to raise HK$200 million. <\/p>\n<p>The Macau administration has issued six bids for gaming permits.  To be eligible for one of these permits, City of Dreams must attain a minimum equity level.  They will utilize HK$2.7 billion of the HK$93 billion to achieve this.  The remaining HK$3.1 billion will be allocated for other purposes.  <\/p>\n<p>To keep abreast of iGaming developments, sign up now. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Melco Resorts &#038; Entertainment has declared it will secure up to HK$5.03 billion through a stock offering and loans from its parent organization to tackle the difficulties of its substantial&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Melco Resorts Secures Funds to Weather Storm<\/title>\n<meta name=\"description\" content=\"Melco Resorts &amp; Entertainment faces financial challenges, securing HK$5.03 billion through stock offering and loans to combat income decrease.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newnodepositcasinos.icu\/2024\/06\/28\/melco-resorts-entertainment-to-raise-funds-amidst-income-decline\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Melco Resorts &amp; Entertainment to Raise Funds Amidst Income Decline\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Melco Resorts &amp; Entertainment faces financial challenges, securing HK$5.03 billion through stock offering and loans to combat income decrease.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/newnodepositcasinos.icu\/2024\/06\/28\/melco-resorts-entertainment-to-raise-funds-amidst-income-decline\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Unlock the Doors to Casino Excitement | Licensed &amp; Secure\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-28T09:01:42+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/newnodepositcasinos.icu\/2024\/06\/28\/melco-resorts-entertainment-to-raise-funds-amidst-income-decline\/\",\"url\":\"https:\/\/newnodepositcasinos.icu\/2024\/06\/28\/melco-resorts-entertainment-to-raise-funds-amidst-income-decline\/\",\"name\":\"Melco Resorts Secures Funds to Weather Storm\",\"isPartOf\":{\"@id\":\"https:\/\/newnodepositcasinos.icu\/#website\"},\"datePublished\":\"2024-06-28T09:01:42+00:00\",\"dateModified\":\"2024-06-28T09:01:42+00:00\",\"author\":{\"@id\":\"https:\/\/newnodepositcasinos.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Melco Resorts & Entertainment faces financial challenges, securing HK$5.03 billion through stock offering and loans to combat income decrease.\",\"breadcrumb\":{\"@id\":\"https:\/\/newnodepositcasinos.icu\/2024\/06\/28\/melco-resorts-entertainment-to-raise-funds-amidst-income-decline\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/newnodepositcasinos.icu\/2024\/06\/28\/melco-resorts-entertainment-to-raise-funds-amidst-income-decline\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/newnodepositcasinos.icu\/2024\/06\/28\/melco-resorts-entertainment-to-raise-funds-amidst-income-decline\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/newnodepositcasinos.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Melco Resorts &#038; Entertainment to Raise Funds Amidst Income Decline\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/newnodepositcasinos.icu\/#website\",\"url\":\"https:\/\/newnodepositcasinos.icu\/\",\"name\":\"Unlock the Doors to Casino Excitement | Licensed &amp; Secure\",\"description\":\"Immerse yourself in the thrilling world of online gambling through our regularly updated news, in-depth game reviews, and expert articles. 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