Macau, Thursday, May 14, 2020 – Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (“Melco” or the “Company”), a developer, owner and operator of casino gaming and entertainment casino resort facilities in Asia and Europe, today reported its unaudited financial results for the first quarter of 2020.

Total operating revenues for the first quarter of 2020 were US$0.81 billion, representing a decrease of approximately 41% from US$1.38 billion for the comparable period in 2019. The decrease in total operating revenues was primarily attributable to softer performance in all gaming segments and non-gaming operations as a result of the temporary casino closure in Macau and enhanced quarantine and social distancing measures to mitigate the COVID-19 outbreak in the first quarter of 2020.

Operating loss for the first quarter of 2020 was US$149.9 million, compared with operating income of US$191.1 million in the first quarter of 2019.

Adjusted Property EBITDA(1) was U.S.$75.3 million for the first quarter of 2020 compared to Adjusted Property EBITDA of US$413.5 million in the first quarter of 2019, representing a decrease of 82%.