Melco Resorts 1Q22 EBITDA falls short of expectations

Melco Resorts’ adjusted EBITDA fell short of analyst expectations in 1Q22 as Covid-19 travel restrictions continued to impact the operational and financial performance of the company.

On Thursday, Melco reported 1Q22 adjusted property EBITDA of $56 million, down 41 percent from 4Q21. The results were also down from J.P Morgan’s estimate of $82 million and the consensus estimate of $79 million for the quarter.

On an early Friday note, J.P Morgan analysts said this was the result of continued travel restrictions in Macau and is despite a solid Chinese New Year period.

Source: https://agbrief.com/news/macau/06/05/2022/melco-1q22-ebitda-falls-short-of-expectations/