Melco Resorts & Entertainment Ltd. · NASDAQ:MLCO
Melco Resorts & Entertainment — Q1 2026 Earnings Presentation
34 slides from Melco Resorts & Entertainment's earnings presentation, Apr 30, 2026
Slide 1: 1Q’26 Results Presentation
1Q’26 Results Presentation April 30, 2026 1
Slide 2: Disclaimer
Disclaimer Safe Harbor Statement This presentation contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Melco Resorts & Entertainment Limited (the “Company”) may also make forward-looking state
Slide 3: Key Investment Highlights
Key Investment Highlights 1 GLOBAL PRESENCE WITH HIGH-QUALITY ASSETS spanning Asia and Europe with ability to adapt and thrive in diverse market conditions 2 DIVERSE AWARD-WINNING PRODUCT PORTFOLIO offering a wide range of products and facilities to accommodate a broad spectrum of customers 3 PROVEN
Slide 4: Melco Resorts’ Global Presence
Melco Resorts’ Global Presence Melco Resorts is a developer, owner and operator of award-winning integrated resort facilities in Macau, the Philippines, Cyprus and Sri Lanka Macau Philippines ▪ An average of approximately 733 gaming tables, 2,484 gaming machines and 4,588 hotel ▪ An average of appro
Slide 5: Diverse Award-Winning Product Offerings
Diverse Award-Winning Product Offerings • To date, Melco Resorts has been recognized with over 1,400 local and international awards and accolades • Attained 19 Five-Star Awards, placing Melco Resorts as the leader among global integrated resort operators with the most Five-Star Awards in the 2026 Fo
Slide 6: New Activations in Macau: Chinese New Year Installations
New Activations in Macau Chinese New Year Installations 6
Slide 7: New Activations in Macau: Chinese New Year Installations (continued)
New Activations in Macau Chinese New Year Installations (continued) 7
Slide 8: New Activations in Macau: Launch of new brand chapter “Be A Dreamer”
New Activations in Macau Launch of new brand chapter “Be A Dreamer” at City of Dreams 8
Slide 9: New Activations in Macau: Enchanting Moments at Studio City
New Activations in Macau Enchanting Moments at Studio City: Old Master Q 60th Anniversary Fantastic Journey Macau Special Exhibition 9
Slide 10: Summary Financials
Summary Financials 3 months ended (US$ millions) Mar ’26 Mar’25 % Change Total Operating Revenues 1,367 1,232 10.9% Gaming 1,150 1,024 12.3% Non-Gaming 216 208 4.1% Total Operating Costs & Expenses (1,188) (1,087) (9.2%) Operating Income 179 145 23.5% Total Non-Operating Expenses, Net (101) (113) 10
Slide 11: Melco Resorts Group Adjusted Property EBITDA – 1Q’26
Melco Resorts Group Adjusted Property EBITDA – 1Q’26 Melco Resorts Group-wide Adjusted Property EBITDA of US$381 million(1) and Hold- Adjusted Property EBITDA of US$356 million(5) Total Adjusted Property EBITDA & Margin (1) (2) (US$m) Hold-Adjusted Property EBITDA (5) Altira + Mocha City of Dreams M
Slide 12: City of Dreams Macau – 1Q’26
City of Dreams Macau – 1Q’26 City of Dreams Macau recorded Adjusted EBITDA of US$214 million City of Dreams Macau Adjusted EBITDA and Adjusted EBITDA margin(1) (2) City of Dreams Macau Key Operating Metrics (US$m, unless otherwise 1Q’26 Vs. 4Q’25 Vs. 1Q’25 29.8% 31.8% 30.8% 27.8% 29.2% stated) VIP R
Slide 13: Studio City – 1Q’26
Studio City – 1Q’26 Studio City recorded Adjusted EBITDA of US$112 million Studio City Adjusted EBITDA and Adjusted EBITDA margin(1) (2) (3) Studio City Key Operating Metrics (US$m, unless otherwise 27.5% 27.1% 27.9% 28.5% 1Q’26 Vs. 4Q’25 Vs. 1Q’25 24.0% stated) 112 105 105 Mass Table Drop 901 (3%)
Slide 14: Altira – 1Q’26
Altira – 1Q’26 Altira recorded Adjusted EBITDA of US$4 million Altira Adjusted EBITDA and Adjusted EBITDA margin(1) (2) Altira Key Operating Metrics (2.5%) 3.0% (2.8%) (13.8%) 10.7% (US$m, unless otherwise 4 1Q’26 Vs. 4Q’25 Vs. 1Q’25 stated) Mass Table Drop 146 (5%) 34% 1 Mass Table Hold % 23.0% 737
Slide 15: City of Dreams Manila – 1Q’26
City of Dreams Manila – 1Q’26 City of Dreams Manila recorded Adjusted EBITDA of US$37 million City of Dreams Manila Adjusted EBITDA and Adjusted EBITDA margin(1) (2) City of Dreams Manila Key Operating Metrics (US$m, unless otherwise 29.6% 28.8% 37.3% 33.0% 35.4% 1Q’26 Vs. 4Q’25 Vs. 1Q’25 stated) VI
Slide 16: City of Dreams Mediterranean and Other – 1Q’26
City of Dreams Mediterranean and Other – 1Q’26 City of Dreams Mediterranean and Other recorded Adjusted EBITDA of US$9 million City of Dreams Mediterranean and Other Adjusted EBITDA and Adjusted EBITDA margin(1) (2) City of Dreams Mediterranean and Other Key Operating Metrics (US$m, unless otherwise
Slide 17: Guidance on Key Non-Operating Items
Guidance on Key Non-Operating Items Depreciation & ▪ Approximately [US$140-145 million] for 2Q 2026 Amortization Corporate Expenses ▪ Approximately [US$30 million] for 2Q 2026 ▪ Approximately [US$115-120 million] for 2Q 2026, including Consolidated Net ‒ Finance liability interest of approximately U
Slide 18: Liquidity & Balance Sheet
Liquidity & Balance Sheet Actual as of March 31, 2026 Melco Resorts Melco Resorts(1) Studio City (2) Philippines Cyprus Sri Lanka (US$m, unless otherwise stated) Group Cash & Cash Equivalents (3) 543 224 235 38 27 1,067 Availability Under Credit Facilities 1,124 130 39 - - 1,293 Total Liquidity 1,66
Slide 19: Shareholder Return
Shareholder Return Returned approximately US$4.1bn to shareholders from 2016 • Melco Resorts has returned US$4.1 billion to shareholders in the form of dividends and share repurchases since 2016. • Since 2020, Melco Resorts has repurchased US$746 million in shares. • The Company currently has author
Slide 20: Melco Resorts’ Sustainability Goals & Achievements
Melco Resorts’ Sustainability Goals & Achievements 20
Slide 21: Restoring our World
Restoring our World Our RISE sustainability strategy guides us to go “Above & Beyond” in achieving our commitments. Restoring our World focuses on goals in Energy & Climate Resilience and Material Use and Waste Environmental Performance Scope 1 & 2 GHG Emissions by Intensity Energy Intensity 0.35 0.
Slide 22: Sustaining our Supply Chain
Sustaining our Supply Chain Sustaining our Supply Chain under our RISE strategy embodies what we aim to achieve across our entire value chain. Prioritizing where we can effect change, we focus on building the capacity of our local partners to innovate and to deliver items and services with reduced e
Slide 23: Melco’s Key Environmental Sustainability Highlights
Melco’s Key Environmental Sustainability Highlights Energy & Climate Waste Reporting Strategy Ratings Energy efficiency measures Waste diversion Reporting Corporate Sustainability • Annualized savings of over 71.7 • Diversion rate from recycling and • Double materiality assessment Assessment (CSA) m
Slide 24: Appendix
Appendix 1 24
Slide 25: Melco Resorts: Table Yield Analysis
Melco Resorts: Table Yield Analysis Continue to optimize table allocation across our portfolio of Integrated Resorts Average Number of VIP Gaming Tables Average Number of Mass Gaming Tables 1Q’25 2Q’25 3Q’25 4Q’25 1Q’26 1Q’25 2Q’25 3Q’25 4Q’25 1Q’26 Altira 37 30 29 29 32 City of Dreams Macau 76 83 8
Slide 26: Melco Resorts: Historic Revenue and Adjusted Property EBITDA
Melco Resorts: Historic Revenue and Adjusted Property EBITDA Melco Resorts: Last 12 Months Total Adjusted Property EBITDA(1) (US$ million) Melco Resorts: Last 12 Months Macau-only VIP & Mass GGR (US$ million) 2,000 Adjusted Property EBITDA 1000% 5,000 VIP Gross Gaming Revenue 100% Mass Gross Gaming
Slide 27: Appendix
Appendix 2 27
Slide 28: City of Dreams Macau
City of Dreams Macau Morpheus Standard Room Morpheus Club Lounge Morpheus Lobby 28
Slide 29: Studio City
Studio City Add photo of Epic room Epic Tower Room Event Center Indoor Waterpark 29
Slide 30: Altira Macau
Altira Macau Panoramic Lobby Ying Restaurant Altira Spa 30
Slide 31: City of Dreams Manila
City of Dreams Manila Nüwa Premier King Room Spa at Nüwa Pool at the Hyatt 31
Slide 32: City of Dreams Mediterranean
City of Dreams Mediterranean Panoramic Suite Outdoor Pool Olea Restaurant 32
Slide 33: City of Dreams Sri Lanka
City of Dreams Sri Lanka Nüwa Deluxe Room Nüwa Dragon Suite Crystal Lounge 33
Slide 34: Thank You
(40 MELCO Thank You
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