Melco Resorts & Entertainment Limited (MLCO) CEO Lawrence Ho on Q2 2022 Results - Earnings Call Transcript

Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Q2 2022 Earnings Conference Call August 18, 2022 8:30 AM ET

Company Participants

Jeanny Kim - Senior Vice President, Group Treasurer

Lawrence Ho - Chairman & Chief Executive Officer

Geoff Davis - Executive Vice President & Chief Financial Officer

David Sisk - Chief Operating Officer-Macau Resorts

Conference Call Participants

Joe Greff - JPMorgan

Praveen Choudhary - Morgan Stanley

George Choi - Citi

Ricardo Chinchilla - Deutsche Bank

Operator

Ladies and gentlemen, thank you for participating in the Second Quarter 2022 Earnings Conference Call of Melco Resorts & Entertainment Limited. At this time, all participants are in a listen-only mode. After the call, we will conduct the question-and-answer session. Today's conference is being recorded.

I would now like to turn the call over to Ms. Jeanny Kim, Senior Vice President, Group Treasurer of Melco Resorts & Entertainment Limited.

Jeanny Kim

Thank you, operator, and thank you everybody for joining us today for our second quarter 2022 earnings call. On the call are Lawrence Ho, Geoff Davis, Evan Winkler; and our Property Presidents in Macau, Manila and Cyprus.

Before we get started, please note that today's discussion may contain forward-looking statements made under the Safe Harbor provisions of Federal Securities Laws. Our actual results could differ from our anticipated results.

In addition, we may discuss non-GAAP measures. A definition and reconciliation of these measures, to the most comparable GAAP financial measures are included in the earnings release. Finally, please note that, our supplementary earnings slides are posted on our Investor Relations website.

With that, I'll now turn the call over to Mr. Lawrence Ho.

Lawrence Ho

Thank you, Jeanny. It goes without saying that, our results for the second quarter of 2022 were heavily impacted by the COVID pandemic and the restrictions imposed across Mainland China and Macau. Throughout the pandemic, ensuring the health and safety of our colleagues have been very important, and it continue to be our highest priority through the recent outbreak.

We very much appreciate the Macau governments expeditious with quick handling and publication of the new gaming law in June, and the publication of the requirements for the new casino tender. The new gaming law and the tender requirements provide clear direction for the remainder of the year, and set a foundation for a smooth transition once the concession is awarded. We are committed to Macau, and we are aligned with the Macau government's vision to further develop Macau and its economy.