MACAU, December 18, 2022 (GLOBE NEWSWIRE) — Melco Resorts & Entertainment Limited MLCO (“Melco” or the “Company”), a developer, owner and operator of integrated resort facilities in Asia and Europe, today announces further details of the ten-year concession to operate casino gaming and gaming in Macau (“Concession”) Melco Resorts (Macau) Limited (“Melco Resorts Macau” or “Concessionaire”), a subsidiary of the Company, as announced on December 16, 2022.

The Concession is granted to Melco Resorts Macau as Concessionaire by the Macau Special Administrative Region of the People’s Republic of China (“Macau SAR”). The term of the concession begins on January 1, 2023 and ends on December 31, 2032. Under the terms of the concession, Melco Resorts Macau is entitled to operate Altira Casino, City of Dreams Casino and Studio City Casino, as well as Grand Dragon Casino and the mocha clubs. The Macau SAR government has allocated 750 gaming tables and 2,100 electronic slot machines for the concessionaire’s operation during the concession.

Under the terms of the concession, Melco Resorts Macau will pay an annual premium of MOP 30,000,000 (equivalent to approximately US$3,741,000) to the Macau SAR, plus a variable amount calculated in accordance with the number of gaming tables and electronic slot machines operated by Melco Resorts Macau. The annual bonus variable amount is MOP 300,000 (equivalent to approximately $37,000) for each game table reserved exclusively for certain types of games or players and MOP 150,000 (equivalent to approximately $19,000) for each non-exclusively reserved game table and 1,000 MOP (equivalent to approximately US$100) for each electronic slot machine, subject to an annual minimum payment of an amount required to operate 500 gaming tables and 1,000 electronic slot machines. The concession provides for the payment of a special gaming tax on gross gaming revenue. Special gambling tax is currently…