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Melco Intl Dev swings to HK$12.4 billion loss in 2020

Melco Resorts’ parent company Melco International Development said it swung to a loss of HK$12.4 billion for the year ended Dec 31, 2020, caused mainly by a 70 percent fall in revenue in the year. 

Significant declines in inbound tourism and temporary casino closures across Cyprus, Macau and Philippines were to blame. 

In a filing, Melco International said it would continue to focus on building and improving its assets, including the expansion work at Studio City, its upgrade work at City of Dreams, and the completion of City of Dreams Mediterranean in 2022. 

Melco annual results for year ended 31 December 2020 (Company filing)

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