Melco Resorts & Entertainment Limited (MLCO) 20-F 31 Mar 21 2020 FY Annual report (foreign) Financial data

Cover Page

Cover Page	12 Months Ended
	Dec. 31, 2020shares
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Trading Symbol	MLCO
Entity Registrant Name	MELCO RESORTS & ENTERTAINMENT LIMITED
Entity Voluntary Filers	No
Entity Central Index Key	0001381640
Entity File Number	001-33178
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding	1,456,547,942
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	36th Floor, The Centrium, 60 Wyndham Street
Entity Address, City or Town	Central
Entity Address, Country	HK
Entity Address, Postal Zip Code	000000
Document Registration Statement	false
ICFR Auditor Attestation Flag	true
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Accounting Standard	U.S. GAAP
Title of 12(b) Security	American depositary shares each representing three ordinary shares
Security Exchange Name	NASDAQ
Security Reporting Obligation	15(d)
Business Contact [Member]
Document Information [Line Items]
Contact Personnel Name	Heather Rollo, Senior Vice President, Chief Accounting Officer
Entity Address, Address Line One	36th Floor, The Centrium, 60 Wyndham Street
Entity Address, City or Town	Central
Entity Address, Country	HK
Entity Address, Postal Zip Code	000000
City Area Code	+852
Local Phone Number	2598 3600
Phone Fax Number Description	+852 2537 3618

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 1,755,351	$ 1,394,982
Investment securities	0	49,369
Restricted cash	13	37,390
Accounts receivable, net of allowances for credit losses of $317,275 and $232,993	129,619	284,333
Amounts due from affiliated companies	765	442
Inventories	37,277	43,959
Prepaid expenses and other current assets	85,798	84,197
Total current assets	2,008,823	1,894,672
Property and equipment, net	5,681,268	5,723,909
Gaming subconcession, net	84,663	141,440
Intangible assets, net	58,833	31,628
Goodwill	82,203	95,620
Long-term prepayments, deposits and other assets, net of allowances for credit losses of $16,517 and $25,026	284,608	176,478
Investment securities	0	568,936
Restricted cash	406	130
Deferred tax assets, net	6,376	3,558
Operating lease right-of-use assets	92,213	111,043
Land use rights, net	721,574	741,008
Total assets	9,020,967	9,488,422
Current liabilities:
Accounts payable	9,483	21,882
Accrued expenses and other current liabilities	983,865	1,420,516
Income tax payable	14,164	8,516
Operating lease liabilities, current	27,066	33,152
Finance lease liabilities, current	80,004	39,725
Current portion of long-term debt, net	0	146
Amounts due to affiliated companies	1,668	1,523
Total current liabilities	1,116,250	1,525,460
Long-term debt, net	5,645,391	4,393,985
Other long-term liabilities	29,213	18,773
Deferred tax liabilities, net	45,952	56,677
Operating lease liabilities, non-current	75,867	88,259
Finance lease liabilities, non-current	270,223	262,040
Total liabilities	7,182,896	6,345,194
Commitments and contingencies (Note 22)
Shareholders' equity:
Ordinary shares, par value $0.01; 7,300,000,000 shares authorized; 1,456,547,942 and 1,456,547,942 shares issued; 1,430,965,312 and 1,437,328,096 shares outstanding, respectively	14,565	14,565
Treasury shares, at cost; 25,582,630 and 19,219,846 shares, respectively	(121,028)	(90,585)
Additional paid-in capital	3,207,312	3,178,579
Accumulated other comprehensive losses	(11,332)	(18,803)
Accumulated losses	(1,987,396)	(644,788)
Total Melco Resorts & Entertainment Limited shareholders' equity	1,102,121	2,438,968
Noncontrolling interests	735,950	704,260
Total shareholders' equity	1,838,071	3,143,228
Total liabilities and shareholders' equity	$ 9,020,967	$ 9,488,422

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Accounts receivable, allowances for credit losses	$ 317,275	$ 232,993
Long-term prepayments, deposits and other assets, allowances for credit losses	$ 16,517	$ 25,026
Ordinary shares, par value	$ 0.01	$ 0.01
Ordinary shares, authorized	7,300,000,000	7,300,000,000
Ordinary shares, issued	1,456,547,942	1,456,547,942
Ordinary shares, outstanding	1,430,965,312	1,437,328,096
Treasury shares, shares	25,582,630	19,219,846

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating revenues:
Operating revenues	$ 1,727,923	$ 5,736,801	$ 5,188,942
Operating costs and expenses:
General and administrative	(424,398)	(559,480)	(505,930)
Payments to the Philippine Parties	(12,989)	(57,428)	(60,778)
Pre-opening costs	(1,322)	(4,847)	(55,390)
Development costs	(25,616)	(57,433)	(23,029)
Amortization of gaming subconcession	(57,411)	(56,841)	(56,809)
Amortization of land use rights	(22,886)	(22,659)	(22,646)
Depreciation and amortization	(538,233)	(571,705)	(488,446)
Property charges and other	(47,223)	(20,815)	(29,147)
Total operating costs and expenses	(2,668,480)	(4,989,123)	(4,575,495)
Operating (loss) income	(940,557)	747,678	613,447
Non-operating income (expenses):
Interest income	5,134	9,311	5,471
Interest expenses, net of amounts capitalized	(340,839)	(310,102)	(264,880)
Other financing costs	(7,955)	(2,738)	(4,630)
Foreign exchange losses, net	(2,079)	(10,756)	(10,497)
Other (expenses) income, net	(150,969)	(23,914)	3,684
Loss on extinguishment of debt	(19,952)	(6,333)	(3,461)
Costs associated with debt modification	(310)	(579)	0
Total non-operating expenses, net	(516,970)	(345,111)	(274,313)
(Loss) income before income tax	(1,457,527)	402,567	339,134
Income tax credit (expense)	2,913	(8,339)	(238)
Net (loss) income	(1,454,614)	394,228	338,896
Net loss (income) attributable to noncontrolling interests	191,122	(21,055)	1,403
Net (loss) income attributable to Melco Resorts & Entertainment Limited	$ (1,263,492)	$ 373,173	$ 340,299
Net (loss) income attributable to Melco Resorts & Entertainment Limited per share:
Basic	$ (0.882)	$ 0.260	$ 0.226
Diluted	$ (0.884)	$ 0.258	$ 0.224
Weighted average shares outstanding used in net (loss) income attributable to Melco Resorts & Entertainment Limited per share calculation:
Basic	1,432,052,735	1,436,569,083	1,506,551,789
Diluted	1,432,052,735	1,443,447,422	1,516,410,062
Casino [Member]
Operating revenues:
Operating revenues	$ 1,471,356	$ 4,976,686	$ 4,496,625
Operating costs and expenses:
Cost of revenue	(1,350,210)	(3,266,736)	(3,001,310)
Rooms [Member]
Operating revenues:
Operating revenues	108,593	349,908	311,028
Operating costs and expenses:
Cost of revenue	(46,690)	(89,778)	(78,377)
Food and Beverage [Member]
Operating revenues:
Operating revenues	74,528	235,120	204,171
Operating costs and expenses:
Cost of revenue	(86,123)	(181,456)	(161,184)
Entertainment, Retail and Other [Member]
Operating revenues:
Operating revenues	73,446	175,087	177,118
Operating costs and expenses:
Cost of revenue	$ (55,379)	$ (99,945)	$ (92,449)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (1,454,614)	$ 394,228	$ 338,896
Other comprehensive income (loss):
Foreign currency translation adjustments, before and after tax	20,394	48,734	(48,900)
Other comprehensive income (loss)	20,394	48,734	(48,900)
Total comprehensive (loss) income	(1,434,220)	442,962	289,996
Comprehensive loss (income) attributable to noncontrolling interests	178,199	(29,260)	16,431
Comprehensive (loss) income attributable to Melco Resorts & Entertainment Limited	$ (1,256,021)	$ 413,702	$ 306,427

CONSOLIDATED STATEMENTS OF SHAR

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Cumulative-effect adjustment upon adoption of New Revenue Standard [Member]	Philippine Subsidiaries [Member]	Studio City International [Member]	Ordinary Shares [Member]	Treasury Shares [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member]Philippine Subsidiaries [Member]	Additional Paid-in Capital [Member]Studio City International [Member]	Accumulated Other Comprehensive Losses [Member]	Accumulated Other Comprehensive Losses [Member]Cumulative-effect adjustment upon adoption of new standard on equity investments [Member]	Accumulated losses [Member]	Accumulated losses [Member]Cumulative-effect adjustment upon adoption of new standard on equity investments [Member]	Accumulated losses [Member]Cumulative-effect adjustment upon adoption of New Revenue Standard [Member]	Noncontrolling Interests [Member]	Noncontrolling Interests [Member]Cumulative-effect adjustment upon adoption of New Revenue Standard [Member]	Noncontrolling Interests [Member]Philippine Subsidiaries [Member]	Noncontrolling Interests [Member]Studio City International [Member]
Beginning balance at Dec. 31, 2017	$ 3,589,687	$ (12,970)			$ 15,339	$ (90)	$ 3,864,109			$ (26,610)	$ 1,150	$ (774,512)	$ (1,150)	$ (11,286)	$ 511,451	$ (1,684)
Beginning balance (in shares) at Dec. 31, 2017					1,533,929,981	(9,015,012)
Net income (loss) for the year	338,896											340,299			(1,403)
Foreign currency translation adjustments	(48,900)									(33,872)					(15,028)
Share-based compensation	24,775						24,830								(55)
Reclassification of share-based compensation plan from equity-settled to cash-settled	(505)						(505)
Shares repurchased by the Company	(657,322)					$ (657,322)
Shares repurchased by the Company (in shares)						(96,571,065)
Shares issued for future vesting of restricted shares and exercise of share options (in shares)					4,570,191	(4,570,191)
Shares issued for future vesting of restricted shares and exercise of share options					$ 46	$ (46)
Issuance of shares for restricted shares vested (in shares)						2,115,809
Issuance of shares for restricted shares vested	(37)					$ 21	(58)
Exercise of share options (in shares)						4,803,288
Exercise of share options	1,882					$ 48	1,834
Changes in shareholdings of subsidiaries			$ (199,267)	$ 207,584				$ (141,572)	$ (31,845)								$ (57,695)	$ 239,429
Dividends declared	(271,531)						(1,214)					(270,317)
Ending balance at Dec. 31, 2018	2,972,292				$ 15,385	$ (657,389)	3,715,579			(59,332)		(716,966)			675,015
Ending balance (in shares) at Dec. 31, 2018					1,538,500,172	(103,237,171)
Net income (loss) for the year	394,228											373,173			21,055
Foreign currency translation adjustments	48,734									40,529					8,205
Share-based compensation	30,825						30,815								10
Reclassification of share-based compensation plan from equity-settled to cash-settled	(4,703)						(4,619)								(84)
Retirement of repurchased shares					$ (820)	$ 557,818	(556,998)
Retirement of repurchased shares (in shares)					(81,952,230)	81,952,230
Shares issued for future vesting of restricted shares and exercise of share options (in shares)					0
Issuance of shares for restricted shares vested (in shares)						1,398,840
Issuance of shares for restricted shares vested	(23)					$ 6,593	(6,616)
Exercise of share options (in shares)						666,255
Exercise of share options	2,841					$ 2,393	448
Changes in shareholdings of subsidiaries			29					(30)									59
Dividends declared	(300,995)											(300,995)
Ending balance at Dec. 31, 2019	3,143,228				$ 14,565	$ (90,585)	3,178,579			(18,803)		(644,788)			704,260
Ending balance (in shares) at Dec. 31, 2019					1,456,547,942	(19,219,846)
Net income (loss) for the year	(1,454,614)											(1,263,492)			(191,122)
Foreign currency translation adjustments	20,394									7,471					12,923
Share-based compensation	42,285						42,276								9
Shares repurchased by the Company	(44,977)					$ (44,977)
Shares repurchased by the Company (in shares)						(9,446,472)
Shares issued for future vesting of restricted shares and exercise of share options (in shares)					0
Issuance of shares for restricted shares vested (in shares)						2,694,507
Issuance of shares for restricted shares vested	(50)					$ 12,700	(12,750)
Exercise of share options (in shares)						389,181
Exercise of share options	1,061					$ 1,834	(773)
Changes in shareholdings of subsidiaries			$ (43)	$ 218,146				$ (62)	$ 42								$ 19	$ 218,104
Dividends declared	(79,116)											(79,116)
Dividends declared to noncontrolling interests	(8,243)														(8,243)
Ending balance at Dec. 31, 2020	$ 1,838,071				$ 14,565	$ (121,028)	$ 3,207,312			$ (11,332)		$ (1,987,396)			$ 735,950
Ending balance (in shares) at Dec. 31, 2020					1,456,547,942	(25,582,630)

CONSOLIDATED STATEMENTS OF SH_2

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Stockholders' Equity [Abstract]
Dividends declared per share	$ 0.05504	$ 0.21348	$ 0.1867

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net (loss) income	$ (1,454,614)	$ 394,228	$ 338,896
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Depreciation and amortization	618,530	651,205	567,901
Amortization of deferred financing costs and original issue premiums	17,646	20,324	22,311
Interest accretion on finance lease liabilities	30,952	1,942	5,161
Net loss (gain) on disposal of property and equipment	987	(169)	1,518
Impairment loss recognized on property and equipment	8,127	9,590	0
Impairment loss recognized on goodwill	13,867	0	0
Write-off of other assets	0	7,556	0
Provision (reversal) for credit losses	133,597	33,176	(2,637)
Provision for input value-added tax	5,786	3,733	4,095
Loss on extinguishment of debt	19,952	6,333	3,461
Costs associated with debt modification	310	579	0
Share-based compensation	54,392	31,797	25,143
Net losses recognized on investment securities	165,440	41,737	111
Changes in operating assets and liabilities:
Accounts receivable	27,503	(77,627)	(60,475)
Inventories, prepaid expenses and other	(2,187)	(593)	(26,154)
Long-term prepayments, deposits and other	(29,606)	49,726	14,673
Accounts payable, accrued expenses and other	(470,570)	(341,756)	167,443
Other long-term liabilities	(1,075)	4,381	(8,078)
Net cash (used in) provided by operating activities	(860,963)	836,162	1,053,369
Cash flows from investing activities:
Payments for capitalized construction costs	(227,672)	(109,851)	(251,233)
Acquisition of property and equipment	(208,860)	(337,560)	(386,824)
Placement of bank deposits with original maturities over three months	(150,000)	(60,152)	(24,823)
Proceeds from sale of property and equipment	554	1,283	595
Withdrawals of bank deposits with original maturities over three months	150,000	60,152	34,675
Payments for intangible and other assets	(27,335)	(2,505)	(29,476)
Proceeds from sale of investment securities	410,001	49,669	40,013
Payments for investment securities	0	(617,848)	(45,048)
Acquisition of a subsidiary	0	(15,037)	0
Net cash used in investing activities	(53,312)	(1,031,849)	(662,121)
Cash flows from financing activities:
Principal payments on long-term debt	(1,454,837)	(2,592,631)	(592,573)
Payments of deferred financing costs	(84,057)	(28,825)	0
Dividends paid	(79,116)	(300,995)	(271,531)
Repurchase of shares	(44,977)	0	(655,652)
Principal payments on finance lease liabilities	(73)	0	(107)
Proceeds from exercise of share options	1,061	2,700	5,018
Net proceeds from issuance of shares of subsidiaries	218,441	83,233	277,881
Proceeds from long-term debt	2,707,165	2,933,632	1,095,714
Purchase of shares of a subsidiary	0	0	(199,267)
Net cash provided by (used in) financing activities	1,263,607	97,114	(340,517)
Effect of exchange rate on cash, cash equivalents and restricted cash	(26,064)	10,486	(12,624)
Increase (decrease) in cash, cash equivalents and restricted cash	323,268	(88,087)	38,107
Cash, cash equivalents and restricted cash at beginning of year	1,432,502	1,520,589	1,482,482
Cash, cash equivalents and restricted cash at end of year	1,755,770	1,432,502	1,520,589
Supplemental cash flow disclosures:
Cash paid for interest, net of amounts capitalized	(251,438)	(253,312)	(239,338)
Cash paid for income taxes, net of refunds	(5,364)	(3,889)	(275)
Cash paid for amounts included in the measurement of lease liabilities—operating cash flows from operating leases	(22,362)	(40,542)	0
Change in operating lease liabilities arising from obtaining operating lease right-of-use assets and lease modification or other reassessment events	3,549	27,693	0
Change in accrued expenses and other current liabilities and other long-term liabilities related to acquisition of property and equipment	34,241	56,623	54,226
Change in input value-added tax related to acquisition of property and equipment	0	8,648	0
Change in accrued expenses and other current liabilities and other long-term liabilities related to construction costs	66,960	43,236	13,355
Change in amounts due from/to affiliated companies related to construction costs	0	0	7,759
Change in accrued expenses and other current liabilities related to acquisition of intangible assets	6,356	0	0
Deferred financing costs included in accrued expenses and other current liabilities	1,356	4,204	0
Change in accrued expenses and other current liabilities related to dividends declared to noncontrolling interests	8,243	0	0
Offering expenses capitalized for the issuance of shares of a subsidiary included in accrued expenses and other current liabilities	445	0	5,943
Repurchase of shares included in accrued expenses and other current liabilities	$ 0	$ 0	$ 1,670

ORGANIZATION AND BUSINESS

ORGANIZATION AND BUSINESS	12 Months Ended
	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BUSINESS	1. ORGANIZATION AND BUSINESS (a) Company Information Melco Resorts & Entertainment Limited (“Melco”) was incorporated in the Cayman Islands, with its American depositary shares (“ADSs”) listed on the Nasdaq Global Select Market under the symbol “MLCO” in the United States of America. Melco together with its subsidiaries (collectively referred to as the “Company”) is a developer, owner and operator of integrated resort facilities in Asia and Europe. The Company currently operates Altira Macau, an integrated resort located at Taipa, the Macau Special Administrative Region of the People’s Republic of China (“Macau”), City of Dreams, an integrated resort located at Cotai, Macau and Grand Dragon Casino, a casino located at Taipa, Macau. The Company’s business also includes the Mocha Clubs, which comprise the non-casino As of December 31, 2020 and 2019, Melco International Development Limited (“Melco International”), a company listed in the Hong Kong Special Administrative Region of the People’s Republic of China (“Hong Kong”), is the single largest shareholder of Melco. (b) Recent Developments Related to COVID-19 In connection with the outbreak of the coronavirus (COVID-19) In Macau, on February 5, 2020, the Company’s Macau casino operations were suspended for a 15-day Commencing from July 15, 2020, certain travelers entering Guangdong from Macau were no longer subject to mandatory quarantine, while from August 12, 2020, those entering the PRC from Macau were generally no longer subject to mandatory quarantines. On August 26, 2020, the Chinese authorities resumed the issuance of Individual Visit Scheme (“IVS”) visas for Guangdong residents, while the nationwide resumption of IVS visa issuances commenced on September 23, 2020. On December 21, 2020, the Macau government announced that, generally, individuals who have been to countries and regions other than the PRC and Taiwan in the preceding 21 days are required to undergo a mandatory 21-day as COVID-19 developments In the Philippines, City of Dreams Manila was closed due to the Enhanced Community Quarantine for the entire island of Luzon including Metro Manila, which began on March 16, 2020. However, since June 19, 2020, as permitted by the Philippine Amusement and Gaming Corporation (“PAGCOR”), City of Dreams Manila has conducted a dry run of its gaming and hospitality operations with a limited number of participants strictly adhering to the new guidelines on social distancing, hygiene and sanitation procedures imposed by the Philippine government. On August 3, 2020, a Modified Enhanced Community Quarantine was re-imposed in Metro Manila due to the rising number of COVID-19 In Cyprus, as instructed by the government, the casino operations were closed with effect from March 16, 2020 and resumed on June 13, 2020 except for the satellite casino in Larnaca which was expected to be reopened once it moved to a new location. Commencing from October 23, 2020, the cities of Limassol and Paphos were subject to curfews and from November 5, 2020, the curfew was extended throughout the rest of Cyprus. As a result, the operations in Cyprus are required to be closed during those hours while the curfew remains in place. On November 12, 2020, as part of the regional lockdown, the casino operations in Limassol and Paphos were suspended and from November 30, 2020, in an effort to prevent the spread of COVID-19, The COVID-19 outbreak has also impacted on the construction schedules of the remaining development project at Studio City and the City of Dreams Mediterranean project in Cyprus. The Company currently expects additional time will be needed to complete the construction of these projects. The COVID-19 The disruptions to the Company’s business had material adverse effects on its financial condition and operations for the year ended December 31, 2020. As the disruptions are ongoing, such adverse effects have continued beyond the 2020 year and the Company is unable to reasonably estimate the financial impact to its future results of operations, cash flows and financial condition due to uncertainties surrounding the business recovery from such disruptions, successful development of safe and effective vaccines and treatment of COVID-19, COVID-19 As of December 31, 2020, the Company had cash and cash equivalents, of $1,755,351 and available borrowing capacity of $1,744,637, subject to the satisfaction of certain conditions precedent. The Company has taken various mitigating measures to manage through the current COVID-19 non-essential The Company believes it will be able to support continuing operations and capital expenditures for at least twelve months from the date of these consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). The accompanying consolidated financial statements include the accounts of Melco and its subsidiaries. All intercompany accounts and transactions have been eliminated on consolidation. (b) Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities, revenues and expenses and related disclosures of contingent assets and liabilities. These estimates and judgments are based on historical information, information that is currently available to the Company and on various other assumptions that the Company believes to be reasonable under the circumstances. Accordingly, actual results could differ from those estimates. (c) Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e. the “exit price”) in an orderly transaction between market participants at the measurement date. The Company estimated the fair values using appropriate valuation methodologies and market information available as of the balance sheet date. (d) Cash and Cash Equivalents Cash and cash equivalents consist of cash and highly liquid investments with original maturities of three months or less. Cash equivalents are placed with financial institutions with high-credit ratings and quality. (e) Investment Securities Investment securities consist of investments in mutual funds that mainly invest in bonds and fixed interest securities and investments in equity interests in a public company on which the Company has no significant influence. The investment securities are considered as marketable equity securities. Management determines the appropriate classification of its investment securities at the time of purchase and re-evaluates non-current Investment securities are measured at fair value with changes in fair values recognized through net income in the accompanying consolidated statements of operations. (f) Restricted Cash The current portion of restricted cash represents cash deposited into bank accounts which are restricted as to withdrawal and use and the Company expects these funds will be released or utilized in accordance with the terms of the respective agreements within the next twelve months, while the non-current (g) Accounts Receivable and Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of casino receivables. The Company issues credit in the form of markers to approved casino customers following investigations of creditworthiness. Credit is also given to its gaming promoters in Macau and the Philippines, which receivables can be offset against commissions payable and any other value items held by the Company to the respective customers and for which the Company intends to set off when required. As of December 31, 2020 and 2019, a substantial portion of the Company’s markers were due from customers and gaming promoters residing in foreign countries. Business or economic conditions, the legal enforceability of gaming debts, or other significant events in foreign countries could affect the collectability of receivables from customers and gaming promoters residing in these countries. Accounts receivable, including casino, hotel and other receivables, are typically non-interest dollar amount, based upon the age of the account, the customer’s financial condition as well as management’s experience with collection trends of the customers, current economic and business conditions, and management’s expectations of future economic and business conditions and forecasts. Management believes that as of December 31, 2020 and 2019, no significant concentrations of credit risk existed for which an allowance had not already been recorded. (h) Inventories Inventories consist of retail merchandise, food and beverage items and certain operating supplies, which are stated at the lower of cost or net realizable value. Cost is calculated using the first-in, first-out, (i) Property and Equipment Property and equipment are stated at cost, net of accumulated depreciation and amortization, and impairment losses, if any. Gains or losses on dispositions of property and equipment are included in the accompanying consolidated statements of operations. Major additions, renewals and betterments are capitalized, while maintenance and repairs are expensed as incurred. During the construction and development stage of the Company’s integrated resort facilities, direct and incremental costs related to the design and construction, including costs under the construction contracts, duties and tariffs, equipment installation, shipping costs, payroll and payroll-benefit related costs, applicable portions of interest, including amortization of deferred financing costs, are capitalized in property and equipment. The capitalization of such costs begins when the construction and development of a project starts and ceases once the construction is substantially completed or development activity is substantially suspended. Depreciation and amortization expense related to capitalized construction costs and other property and equipment is recognized from the time each asset is placed in service. This may occur at different stages as integrated resort facilities are completed and opened. Property and equipment are depreciated and amortized over the following estimated useful lives on a straight-line basis: Freehold land Not depreciated Buildings 4 to 40 years Transportation 5 to 10 years Leasehold improvements 3 to 10 years or over the lease term, whichever is shorter Furniture, fixtures and equipment 2 to 15 years Plant and gaming machinery 3 to 5 years (j) Capitalized Interest Interest, including amortization of deferred financing costs, associated with major development and construction projects is capitalized and included in the cost of the projects. The capitalization of interest ceases when the project is substantially completed or the development activity is substantially suspended. The amount to be capitalized is determined by applying the weighted average interest rate of the Company’s outstanding borrowings to the average amount of accumulated qualifying capital expenditures for assets under construction during the year. Total interest expenses incurred amounted to $352,673, $310,102 and $285,947, of which 11,834, nil and $21,067 were capitalized during the years ended December 31, 2020, 2019 and 2018, respectively. (k) Gaming Subconcession The deemed cost of the gaming subconcession in Macau was capitalized based on the fair value of the gaming subconcession agreement as of the date of acquisition of Melco Resorts (Macau) Limited (“Melco Resorts Macau”), a subsidiary of Melco and the holder of the gaming subconcession in Macau, in 2006, and amortized over the term of agreement which is due to expire in June 2022 on a straight-line basis. (l) Internal-Use Costs incurred to develop software for internal use are capitalized and amortized over the estimated useful lives of the software of 3 to 15 years on a straight-line basis. The capitalization of such costs begins during the application development stage of the software project and ceases once the software project is substantially complete and ready for its intended use. Costs of specified upgrades and enhancements to the internal-use (m) Goodwill and Intangible Assets Goodwill represents the excess of the acquisition cost over the fair value of tangible and identifiable intangible net assets of any business acquired. Goodwill is not amortized, but is tested for impairment at the reporting unit level on an annual basis, and between annual tests when circumstances indicate that the carrying value of goodwill may not be recoverable. Intangible assets other than goodwill are amortized over their useful lives unless their lives are determined to be indefinite in which case they are not amortized. Intangible assets are carried at cost, less accumulated amortization. The Company’s finite-lived intangible assets consist of the gaming subconcession, internal-use When performing the impairment analysis for goodwill and intangible assets with indefinite lives, the Company may first perform a qualitative assessment to determine whether it is more likely than not that the asset is impaired. If it is determined that it is more likely than not that the asset is impaired after assessing the qualitative factors, the Company then performs a quantitative impairment test. To perform a quantitative impairment test of intangible assets with indefinite lives, the Company performs an assessment that consists of a comparison of the fair values of the intangible assets with indefinite lives with their carrying amounts. An impairment loss is recognized in an amount equal to the excess of the carrying amounts over the fair values of the intangible assets with indefinite lives. On January 1, 2020, the Company adopted the accounting standards update on goodwill impairment test on a prospective basis. To perform a quantitative impairment test of goodwill, the Company performs an assessment that consists of a compari s During the year ended December 31, 2020, an the as a COVID-19 No were e . (n) Impairment of Long-lived Assets (Other Than Goodwill) The Company evaluates the long-lived assets with finite lives to be held and used for impairment whenever indicators of impairment exist. The Company then compares the estimated future cash flows of the assets, on an undiscounted basis, to the carrying values of the assets. Estimating future cash flows of the assets involves significant assumptions, including future revenue growth rates and gross margin. If the undiscounted cash flows exceed the carrying values, no impairments are indicated. If the undiscounted cash flows do not exceed the carrying values, then an impairment charge is recorded based on the fair values of the assets, typically measured using a discounted cash flow model. If an asset is still under development, future cash flows include remaining construction costs. During the years ended December 31, 2020, 2019 and 2018, impairment losses of $8,127, $9,590 and nil were recognized, mainly due to reconfigurations and renovations at the Company’s operating properties, and of which $6,293 was provided for the year ended December 31, 2019 for a parcel of freehold land due to a significant decrease in its market value as of December 31, 2019. The fair value of the freehold land was calculated by using level 3 inputs based on direct comparison method. The impairment losses are included in property charges and other in the accompanying consolidated statements of operations. As a result of the COVID-19 pandemic as disclosed in Note 1(b), the Company evaluated its long-lived assets for recoverability as of December 31, 2020 and concluded no impairment existed at that date as the estimated undiscounted future cash flows exceeded their carrying values . (o) Deferred Financing Costs Direct and incremental costs incurred in obtaining loans or in connection with the issuance of long-term debt are capitalized and amortized to interest expenses over the terms of the related debt agreements using the effective interest method. Deferred financing costs incurred in connection with the issuance of revolving credit facilities are included in other assets either current or non-current (p) Land Use Rights Land use rights represent the upfront land premium paid for the use of land held under operating leases, which are recorded at cost less accumulated amortization. Amortization is provided over the estimated term of the land use rights of 40 years on a straight-line basis. (q) Leases On January 1, 2019, the Company adopted the guidance on leases under the accounting standards update (as subsequently amended) issued in February 2016 by the Financial Accounting Standards Board (“FASB”), which amends various aspects of existing accounting guidance for leases, using the modified retrospective method without restating comparative information. The Company elected the package of practical expedients, which allows the Company not to reassess (1) whether any expired or existing contracts as of the adoption date are or contain a lease, (2) lease classification for any expired or existing leases as of the adoption date; and (3) initial direct costs for any existing leases as of the adoption date. As a result of adoption, the Company recognized $154,459 of operating lease right-of-use right-of-use At the inception of the contract or upon modification, the Company will perform an assessment as to whether the contract is a lease or contains a lease. A contract is or contains a lease if the contract conveys the right to control the use of an identified asset for a period in exchange for consideration. A lessee has control of an identified asset if it has both the right to direct the use of the asset and the right to receive substantially all of the economic benefits from the use of the asset. Finance and operating lease right-of-use right-of-use The Company’s lease contracts have lease and non-lease non-lease non-lease (r) Revenue Recognition On January 1, 2018, the Company adopted the guidance under the accounting standards update (as subsequently amended) issued in May 2014 by the FASB, which outlined a single comprehensive model for entities to use in accounting for revenues arising from contracts with customers and superseded most current revenue recognition guidance, including industry-specific guidance (“New Revenue Standard”), using the modified retrospective method. The cumulative effect of the adoption of this guidance did not have a material impact on the accumulated losses as of January 1, 2018. In addition, the adoption of this guidance did not have a material impact on net income, comprehensive income, basic and diluted net income attributable to Melco Resorts & Entertainment Limited per share amounts for the year ended December 31, 2018 and net assets as of December 31, 2018. The Company’s revenues from contracts with customers consist of casino wagers, sales of rooms, food and beverage, entertainment, retail and other goods and services. Gross casino revenues are measured by the aggregate net difference between gaming wins and losses. The Company accounts for its casino wagering transactions on a portfolio basis versus an individual basis as all wagers have similar characteristics. Commissions rebated to customers either directly or indirectly through gaming promoters and cash discounts and other cash incentives earned by customers are recorded as a reduction of casino revenues. In addition to the wagers, casino transactions typically include performance obligations related to complimentary goods or services provided to incentivize future gaming or in exchange for incentives or points earned under the Company’s non-discretionary For casino transactions that include complimentary goods or services provided by the Company to incentivize future gaming, the Company allocates the standalone selling price of each good or service to the appropriate revenue type based on the good or service provided. Complimentary goods or services that are provided under the Company’s control and discretion and supplied by third parties are recorded as operating expenses. The Company operates different non-discretionary After allocating amounts to the complimentary goods or services provided and to the points earned under the Loyalty Programs, the residual amount is recorded as casino revenue when the wagers are settled. The Company follows the accounting standards for reporting revenue gross as a principal versus net as an agent, when accounting for operations of certain hotels and Grand Dragon Casino and concluded that it is the controlling entity and is the principal to these arrangements. For the operations of certain hotels, the Company is the owner of the hotel properties, and the hotel managers operate the hotels under certain management agreements providing management services to the Company, and the Company receives all rewards and takes substantial risks associated with the hotels’ business; it is the principal and the transactions are, therefore, recognized on a gross basis. For the operations of Grand Dragon Casino, given the Company operates the casino under a right to use agreement with the owner of the casino premises and has full responsibility for the casino operations in accordance with its gaming subconcession, it is the principal and casino revenue is, therefore, recognized on a gross basis. The transaction prices for rooms, food and beverage, entertainment, retail and other goods and services are the net amounts collected from customers for such goods and services that are recorded as revenues when the goods are provided, services are performed or events are held. Service taxes and other applicable taxes collected by the Company are excluded from revenues. Advance deposits on rooms and advance ticket sales are recorded as customer deposits until services are provided to the customers. Revenues from contracts with multiple goods or services provided by the Company are allocated to each good or service based on its relative standalone selling price. Minimum operating and right to use fees representing lease revenues, adjusted for contractual base fees and operating fee escalations, are included in other revenues and are recognized over the terms of the related agreements on a straight-line basis. Contract and Contract-Related Liabilities In providing goods and services to its customers, there may be a timing difference between cash receipts from customers and recognition of revenues, resulting in a contract or contract-related liability. The Company primarily has three types of liabilities related to contracts with customers: (1) outstanding gaming chips and tokens, which represent the amounts owed in exchange for gaming chips held by a customer, (2) loyalty program liabilities, which represent the deferred allocation of revenues relating to incentives earned from the Loyalty Programs, and (3) advance customer deposits and ticket sales, which represent casino front money deposits that are funds deposited by customers before gaming play occurs and advance payments on goods and services yet to be provided such as advance ticket sales and deposits on rooms and convention space. These liabilities are generally expected to be recognized as revenues within one year of being purchased, earned or deposited and are recorded as accrued expenses and other current liabilities on the accompanying consolidated balance sheets. Decreases in these balances generally represent the recognition of revenues and increases in the balances represent additional chips and tokens held by customers, increases in unredeemed incentives relating to the Loyalty Programs and additional deposits made by customers. The following table summarizes the activities related to contract and contract-related liabilities: December 31, December 31, Increase/ December 31, December 31, Increase/ Outstanding gaming chips and tokens $ 205,780 $ 473,330 $ (267,550 ) $ 473,330 $ 638,702 $ (165,372 ) Loyalty program liabilities 29,175 39,591 (10,416 ) 39,591 46,729 (7,138 ) Advance customer deposits and ticket sales 277,867 255,884 21,983 255,884 386,869 (130,985 ) $ 512,822 $ 768,805 $ (255,983 ) $ 768,805 $ 1,072,300 $ (303,495 ) (s) Gaming Taxes and License Fees The Company is subject to taxes and license fees based on gross gaming revenue and other metrics in the jurisdictions in which it operates, subject to applicable jurisdictional adjustments. These gaming taxes and license fees are mainly recognized as casino expense in the accompanying consolidated statements of operations. These taxes and license fees totaled $754,733, $2,550,755 and $2,372,144 for the years ended December 31, 2020, 2019 and 2018, respectively. (t) Pre-opening Pre-opening start-up pre-opening pre-opening one-off (u) Development Costs Development costs include the costs associated with the Company’s evaluation and pursuit of new business opportunities, which are expensed as incurred. (v) Advertising and Promotional Costs The Company expenses advertising and promotional costs the first time the advertising takes place or as incurred. Advertising and promotional costs included in the accompanying consolidated statements of operations were $34,061, $89,376 and $111,633 for the years ended December 31, 2020, 2019 and 2018, respectively. (w) Foreign Currency Transactions and Translations All transactions in currencies other than functional currencies of Melco and its subsidiaries during the year are remeasured at the exchange rates prevailing on the respective transaction dates. Monetary assets and liabilities existing at the balance sheet date denominated in currencies other than functional currencies are remeasured at the exchange rates existing on that date. Exchange differences are recorded in the accompanying consolidated statements of operations. The functional currency of Melco is the United States dollar (“$” or “US$”) and the functional currency of most of Melco’s foreign subsidiaries is the local currency in which the subsidiary operates. All assets and liabilities are translated at the rates of exchange prevailing at the balance sheet date and all income and expense items are translated at the average rates of exchange over the year. All exchange differences arising from the translation of foreign subsidiaries’ financial statements are recorded as a component of other comprehensive income (loss). (x) Comprehensive (Loss) Income and Accumulated Other Comprehensive Losses Comprehensive (loss) income includes net (loss) income and all other non-shareholder As of December 31, 2020 and 2019, the Company’s accumulated other comprehensive losses consisted solely of foreign currency translation adjustments, net of tax and noncontrolling interests. (y) Share-based Compensation Expenses The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award and recognizes that cost over the service period. Compensation is attributed to the periods of associated service and such expense is recognized over the vesting period of the awards on a straight-line basis. Forfeitures are recognized when they occur. Further information on the Company’s share-based compensation arrangements is included in Note 17. (z) Income Tax The Company is subject to income taxes in Macau, Hong Kong, the Philippines, Cyprus and other jurisdictions where it operates. Deferred income taxes are recognized for all significant temporary differences between the tax basis of assets and liabilities and their reported amounts in the accompanying consolidated financial statements. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. The Company’s income tax returns are subject to examination by tax authorities in the jurisdictions where it operates. The Company assesses potentially unfavorable outcomes of such examinations based on accounting standards for uncertain income taxes. These accounting standards utilize a two-step (aa) Net (Loss) Income Attributable to Melco Resorts & Entertainment Limited Per Share Basic net (loss) income attributable to Melco Resorts & Entertainment Limited per share is calculated by dividing the net (loss) income attributable to Melco Resorts & Entertainment Limited by the weighted average number of ordinary shares outstanding during the year. Diluted net (loss) income attributable to Melco Resorts & Entertainment Limited per share is calculated by dividing the net (loss) income attributable to Melco Resorts & Entertainment Limited by the weighted average number of ordinary shares outstanding during the year adjusted to include the potentially dilutive effect of outstanding share-based awards. The weighted average number of ordinary and ordinary equivalent shares used in the calculation of basic and diluted net (loss) income attributable to Melco Resorts & Entertainment Limited per share consisted of the following: Year Ended December 31, 2020 2019 2018 Weighted average number of ordinary shares outstanding used in the calculation of basic net (loss) income attributable to Melco Resorts & Entertainment Limited per share 1,432,052,735 1,436,569,083 1,506,551,789 Incremental weighted average number of ordinary shares from assumed vesting of restricted shares and exercise of share options using the treasury stock method — 6,878,339 9,858,273 Weighted average number of ordinary shares outstanding used in the calculation of diluted net (loss) income attributable to Melco Resorts & Entertainment Limited per share 1,432,052,735 1,443,447,422 1,516,410,062 Anti-dilutive share options and restricted shares excluded from the calculation of diluted net (loss) income attributable to Melco Resorts & Entertainment Limited per share 40,618,693 8,053,109 7,200,837 (ab) Recent Changes in Accounting Standards Newly Adopted Accounting Pronouncements In June 2016, the FASB issued an accounting standards update which replaces the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The guidance is applied using a modified retrospective approach through a cumulative-effect adjustment to retained earnings as of the effective date. The Company adopted this new guidance on January 1, 2020 and this adoption did not have a material impact on its consolidated financial statements. In January 2017, the FASB issued an accounting standards update when performing the impairment analysis for goodwill which eliminates step two from the goodwill impairment test and instead requires an entity to recognize an impairment charge for the amount by which the carrying value exceeds the reporting unit’s fair value, limited to the total amount of goodwill allocated to that reporting unit. Accordingly, the adoption of this guidance would only impact the Company’s consolidated financial statements in situations where an impairment of a reporting unit’s assets is determined and there is a measurement of the impairment charge. The Company adopted this new guidance on January 1, 2020 on a prospective basis and applied the guidance for its goodwill impairment test during the year ended December 31, 2020. In August 2018, the FASB issued an accounting standards update which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use internal-use Recent Accounting Pronouncement Not Yet Adopted In December 2019, the FASB issued an accounting standards update which simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in Accounting Standards Codification 740, Income Taxes
Parent Company [Member]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Basis of PresentationThe accompanying condensed financial information has been prepared using the same accounting policies as set out the Company’s consolidated financial statements except that the parent company has used the equity method to account for its investments in subsidiaries.

CASH, CASH EQUIVALENTS AND REST

CASH, CASH EQUIVALENTS AND RESTRICTED CASH	12 Months Ended
	Dec. 31, 2020
Cash and Cash Equivalents [Abstract]
CASH, CASH EQUIVALENTS AND RESTRICTED CASH	3. CASH, CASH EQUIVALENTS AND RESTRICTED CASH Cash, cash equivalents and restricted cash reported within the accompanying consolidated statements of cash flows consisted of the following: December 31, 2020 2019 Cash and cash equivalents $ 1,755,351 $ 1,394,982 Current portion of restricted cash 13 37,390 Non-current 406 130 Total cash, cash equivalents and restricted cash $ 1,755,770 $ 1,432,502

INVESTMENT SECURITIES

INVESTMENT SECURITIES	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	4. INVESTMENT SECURITIES On May 30, 2019, Melco executed a definitive purchase agreement, as amended on August 28, 2019 (collectively, the “Share Sale Agreement”) pursuant to which Melco agreed to, through its subsidiary, acquire and an independent third party, CPH Crown Holdings Pty Limited (“CPH”), agreed to sell, an aggregate of 135,350,000 shares of Crown Resorts Limited (“Crown”), an Australian-listed corporation, representing approximately 19.99% of the issued shares of Crown, in two equal tranches at Australian dollars (“AUD”) 13.00 per share. On June 6, 2019, the Company completed the acquisition of the first tranche of approximately 9.99% issued shares of Crown and recognized non-current ) As of December 31, 2019, the investment securities represented investments in marketable equity securities, which comprised investments in mutual funds that mainly invest in bonds and fixed interest securities of $49,369 and investments in 9.99% issued shares AUD812,776,750 (equivalent to $568,936 ) On February 6, 2020, the Company agreed with CPH to terminate the obligation to purchase the second tranche of approximately 9.99% issued shares of Crown as contemplated under the Share Sale Agreement at no consideration. On April 29, 2020, the Company disposed of the first tranche of approximately 9.99% issued shares of Crown at AUD8.15 per share to an independent third party. The aggregate consideration was AUD551,551,250 (equivalent to $359,060). Upon completion of this disposal, the Company ceased to be a shareholder of Crown. During the year ended December 31, 2020, the Company disposed of all of its investments in mutual funds that were mainly invested in bonds and fixed interest securities. The components of (losses) gains on marketable equity securities were as follows Year Ended December 31, 2020 2019 2018 Net losses recognized on market equity securities $ (165,440 ) $ (41,737 ) $ (111 ) Less: Net losses (gains) recognized on marketable equity securities sold during the year 165,440 (3,085 ) 1,345 Unrealized (losses) gains recognized on marketable equity securities still held at the reporting date $ — $ (44,822 ) $ 1,234

ACCOUNTS RECEIVABLE, NET

ACCOUNTS RECEIVABLE, NET	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
ACCOUNTS RECEIVABLE, NET	5. ACCOUNTS RECEIVABLE, NET Components of accounts receivable, net are as follows: December 31, 2020 2019 Casino $ 460,863 $ 538,911 Hotel 1,011 4,369 Other 1,537 2,949 Sub-total 463,411 546,229 Less: allowances for credit losses (1) (333,792 ) (258,019 ) 129,619 288,210 Non-current — (3,877 ) Current portion $ 129,619 $ 284,333 Note (1) As of December 31, 2020 and 2019, the allowances for credit losses of $16,517 and $25,026 are recorded as a reduction of the long-term casino accounts receivables, which are included in long-term prepayments, deposits and other assets in the accompanying consolidated balance sheets, respectively. The Company’s allowances for casino credit losses were 72.2% and 47.7% of gross casino accounts receivables as of December 31, 2020 and 2019, respectively. The Company’s allowances for credit losses from its hotel and other receivables are not material. Movement in the allowances for credit losses are as follows: Year Ended December 31, 2020 2019 2018 Balance at beginning of year $ 258,019 $ 228,344 $ 234,485 Provision (reversal) for credit losses 131,845 32,888 (2,479 ) Write-offs (57,868 ) (4,460 ) (2,115 ) Effect of exchange rate 1,796 1,247 (1,547 ) Balance at end of year $ 333,792 $ 258,019 $ 228,344

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	6. PROPERTY AND EQUIPMENT, NET December 31, 2020 2019 Cost Buildings $ 6,326,744 $ 6,288,083 Furniture, fixtures and equipment 1,065,280 1,071,341 Leasehold improvements 1,175,678 1,049,332 Plant and gaming machinery 276,499 265,856 Transportation 219,646 218,952 Construction in progress 399,041 143,330 Freehold land 86,603 77,876 Sub-total 9,549,491 9,114,770 Less: accumulated depreciation and amortization (3,868,223 ) (3,390,861 ) Property and equipment, net $ 5,681,268 $ 5,723,909 As of December 31, 2020 and 2019, construction in progress , , The cost and accumulated depreciation and amortization of right-of-use on

GAMING SUBCONCESSION, NET

GAMING SUBCONCESSION, NET	12 Months Ended
	Dec. 31, 2020
Text Block [Abstract]
GAMING SUBCONCESSION, NET	7. GAMING SUBCONCESSION, NET December 31, 2020 2019 Deemed cost $ 903,160 $ 898,959 Less: accumulated amortization (818,497 ) (757,519 ) Gaming subconcession, net $ 84,663 $ 141,440 The Company expects that amortization of the gaming subconcession will be approximately $57,439 in 2021 and approximately $27,224 in 2022.

GOODWILL AND INTANGIBLE ASSETS,

GOODWILL AND INTANGIBLE ASSETS, NET	12 Months Ended
	Dec. 31, 2020
Text Block [Abstract]
GOODWILL AND INTANGIBLE ASSETS, NET	8. GOODWILL AND INTANGIBLE ASSETS, NET (a) Goodwill The changes in the carrying amounts of goodwill by segment are as follows: Mocha Clubs (1) Corporate (2) Total Balance at January 1, 2018 $ 81,915 $ — $ 81,915 Foreign currency translations (539 ) — (539 ) Balance at December 31, 2018 81,376 — 81,376 Acquisition — 13,731 13,731 Foreign currency translations 444 69 513 Balance at December 31, 2019 81,820 13,800 95,620 Impairment — (13,867 ) (13,867 ) Foreign currency translations 383 67 450 Balance at December 31, 2020 $ 82,203 $ — $ 82,203 Notes (1) The amount represents goodwill which arose from the acquisition of Mocha Slot Group Limited and its subsidiaries by the Company in 2006. (2) The amount represents goodwill which (b) Intangible Assets, Net Intangible assets, net consisted of the following: December 31, 2020 2019 Indefinite-lived intangible assets: Trademarks of Mocha Clubs $ 4,235 $ 4,215 Total indefinite-lived intangible assets 4,235 4,215 Finite-lived intangible assets: Internal-use 51,882 30,353 Less: accumulated amortization (9,110 ) (2,940 ) 42,772 27,413 Proprietary rights 12,013 — Less: accumulated amortization (187 ) — 11,826 — Total finite-lived intangible assets 54,598 27,413 Total intangible assets, net $ 58,833 $ 31,628 Trademarks arose from the acquisition of Mocha Slot Group Limited and its subsidiaries by the Company in 2006. The changes in carrying amounts of trademarks represented the exchange differences arising from foreign currency translations at the balance sheet date. In November 2020, the Company completed an asset acquisition of the proprietary rights relating to an entertainment show in City of Dreams for a cash consideration of $ . The estimated useful life of the proprietary rights is years. The carrying amount of the proprietary rights included the exchange differences arising from foreign currency translations at the balance sheet date. The amortization expenses of finite-lived intangible assets (other than gaming subconcession) recognized for the years ended December 31, 2020, 2019 and 2018 were $6,342, $2,232 and $697, respectively. As of December 31, 2020, the estimated future amortization expenses of finite-lived intangible assets (other than gaming subconcession) are as follows: Year ending December 31, 2021 $ 10,825 2022 9,984 2023 6,904 2024 3,167 2025 3,166 Over 2025 20,552 $ 54,598

LONG-TERM PREPAYMENTS, DEPOSITS

LONG-TERM PREPAYMENTS, DEPOSITS AND OTHER ASSETS	12 Months Ended
	Dec. 31, 2020
Text Block [Abstract]
LONG-TERM PREPAYMENTS, DEPOSITS AND OTHER ASSETS	9. LONG-TERM PREPAYMENTS, DEPOSITS AND OTHER ASSETS Long-term prepayments, deposits and other assets consisted of the following: December 31, 2020 2019 Entertainment production costs $ 68,804 $ 76,795 Less: accumulated amortization (68,804 ) (72,230 ) Entertainment production costs, net — 4,565 Advance payments for construction costs 59,564 32,911 Other long-term assets and other 58,209 53,177 Long-term prepayments 49,648 408 Deferred financing costs, net 44,033 885 Deferred rent assets 34,311 37,835 Other deposits 13,984 16,709 Input value-added tax, net 13,172 12,469 Deposits for acquisition of property and equipment 11,687 13,642 Long-term casino accounts receivables, net of allowances for credit losses of $16,517 and $25,026 — 3,877 Long-term prepayments, deposits and other assets $ 284,608 $ 176,478 Entertainment production costs represent amounts incurred and capitalized for entertainment shows in City of Dreams. The Company amortized the entertainment production costs over 10 years or the respective estimated useful lives of the entertainment shows, whichever is shorter. Input value-added tax, net represents the value-added tax expected to be recoverable from the tax authority in the Philippines mainly connected with the purchase of assets or services for City of Dreams Manila. Certain input value-added tax incurred on purchase of assets of $8,648 was considered non-refundable and, therefore, recognized as property and equipment for non-recoverable Long-term casino accounts receivables, net represent receivables from casino customers where settlements are not expected within the next year. Reclassifications to current accounts receivable, net, are made when settlement of such balances are expected to occur within one year.

LAND USE RIGHTS, NET

LAND USE RIGHTS, NET	12 Months Ended
	Dec. 31, 2020
Text Block [Abstract]
LAND USE RIGHTS, NET	10. LAND USE RIGHTS, NET December 31, 2020 2019 Altira Macau $ 146,989 $ 146,306 City of Dreams 400,981 399,115 Studio City 655,858 652,807 1,203,828 1,198,228 Less: accumulated amortization (482,254 ) (457,220 ) Land use rights, net $ 721,574 $ 741,008

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	12 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	11. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES December 31, 2020 2019 Advance customer deposits and ticket sales $ 277,867 $ 255,884 Outstanding gaming chips and tokens 205,780 473,330 Staff cost accruals 99,612 169,622 Interest expenses payable 96,491 49,298 Gaming tax and license fee accruals 87,321 217,773 Operating expense and other accruals and liabilities 73,177 117,338 Construction cost payables 57,200 28,583 Property and equipment payables 48,769 69,097 Loyalty program liabilities 29,175 39,591 Dividends payable 8,473 — $ 983,865 $ 1,420,516

LONG-TERM DEBT, NET

LONG-TERM DEBT, NET	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
LONG-TERM DEBT, NET	12. LONG-TERM DEBT, NET Long-term debt, net consisted of the following: December 31, 2020 2019 Senior Notes 2017 4.875% Senior Notes, due 2025 (net of unamortized deferred financing costs and original issue premiums of $16,583 and $19,827, respectively) $ 983,417 $ 980,173 2019 5.250% Senior Notes, due 2026 (net of unamortized deferred financing costs of $4,529 and $5,948, respectively) 495,471 494,052 2019 5.625% Senior Notes, due 2027 (net of unamortized deferred financing costs of $5,686 and $7,298, respectively) 594,314 592,702 2019 5.375% Senior Notes, due 2029 (net of unamortized deferred financing costs of $7,991 and $8,992, respectively) 892,009 891,008 2020 5.750% Senior Notes, due 2028 (net of unamortized deferred financing costs and original issue premiums of $4,519) 845,481 — 2019 7.250% Studio City Notes, due 2024 (net of unamortized deferred financing costs of $6,165 and $7,829, respectively) 593,835 592,171 2020 6.000% SC Notes, due 2025 (net of unamortized deferred financing costs of $4,566) 495,434 — 2020 6.500% SC Notes, due 2028 (net of unamortized deferred financing costs of $4,738) 495,262 — 2016 7.250% SC Secured Notes, due 2021 (net of unamortized deferred financing costs of $7,211) — 842,789 Credit Facilities 2015 Credit Facilities (net of unamortized deferred financing costs of nil (1) 129 1,108 2020 Credit Facilities (2) 249,910 — 2016 Studio City Credit Facilities (3) 129 128 5,645,391 4,394,131 Current portion of long-term debt (net of unamortized deferred financing costs of — (146 ) $ 5,645,391 $ 4,393,985 Notes (1) As of December 31, 2020 and 2019, the unamortized deferred financing costs related to the 2015 Revolving Credit Facility of the 2015 Credit Facilities of nil are included in prepaid expenses and other current assets in the accompanying consolidated balance sheets, respectively. (2) As of December 31, 2020, the unamortized deferred financing costs related to the revolving credit facility of the 2020 Credit Facilities of $43,593 are included in long-term prepayments, deposits and other assets in the accompanying consolidated balance sheet. (3) As of December 31, 2020 and 2019, the unamortized deferred financing costs related to the 2016 SC Revolving Credit Facility of the 2016 Studio City Credit Facilities of $440 (a) Senior Notes 2017 4.875% Senior Notes On June 6, 2017, Melco Resorts Finance Limited (“Melco Resorts Finance”), a subsidiary of Melco, issued $650,000 in aggregate principal amount of 4.875% senior notes due June 6, 2025 at an issue price of 100% of the principal amount (the “First 2017 4.875% Senior Notes”); and on July 3, 2017, Melco Resorts Finance further issued $350,000 in aggregate principal amount of 4.875% senior notes due June 6, 2025 at an issue price of 100.75% of the principal amount (the “Second 2017 4.875% Senior Notes” and together with the First 2017 4.875% Senior Notes, collectively referred to as the “2017 4.875% Senior Notes”). The interest on the 2017 4.875% Senior Notes is accrued at a rate of 4.875% per annum and is payable semi-annually in arrears on June 6 and December 6 of each year. The 2017 4.875% Senior Notes are general obligations of Melco Resorts Finance, rank equally in right of payment to all existing and future senior indebtedness of Melco Resorts Finance, rank senior in right of payment to any existing and future subordinated indebtedness of Melco Resorts Finance and are effectively subordinated to all of Melco Resorts Finance’s existing and future secured indebtedness to the extent of the value of the assets securing such debt and all of the indebtedness of Melco Resorts Finance’s subsidiaries. The net proceeds from the offering of the First 2017 4.875% Senior Notes were used to partly fund the redemption of the previous senior notes of Melco Resorts Finance and the net proceeds from the offering of the Second 2017 4.875% Senior Notes were used to repay the 2015 Revolving Credit Facility (as described below). Melco Resorts Finance had the option to redeem all or a portion of the 2017 4.875% Senior Notes at any time prior to June 6, 2020, at a “make-whole” redemption price. On or after June 6, 2020, Melco Resorts Finance has the option to redeem all or a portion of the 2017 4.875% Senior Notes at any time at fixed redemption prices that decline ratably over time. In addition, Melco Resorts Finance had the option to redeem up to 35% of the 2017 4.875% Senior Notes with the net cash proceeds from one or more equity offerings at a fixed redemption price at any time prior to June 6, 2020. Further, under certain circumstances and subject to certain exceptions as more fully described in the indenture, Melco Resorts Finance also has the option to redeem in whole, but not in part the 2017 4.875% Senior Notes at fixed redemption prices. In certain events that relate to the gaming subconcession of Melco Resorts Macau and subject to certain exceptions as more fully described in the indenture, each holder of the 2017 4.875% Senior Notes will have the right to require Melco Resorts Finance to repurchase all or any part of such holder’s 2017 4.875% Senior Notes at a fixed redemption price. The indenture governing the 2017 4.875% Senior Notes contains certain covenants that, subject to certain exceptions and conditions, limit the ability of Melco Resorts Finance to, among other things, effect a consolidation or merger or sell assets. The indenture governing the 2017 4.875% Senior Notes also contains conditions and events of default customary for such financings. 2019 5.250% Senior Notes On April 26, 2019, Melco Resorts Finance issued $500,000 in aggregate principal amount of 5.250% senior notes due subordinated to all of Melco Resorts Finance’s existing and future secured indebtedness to the extent of the value of the assets securing such debt and to the indebtedness of Melco Resorts Finance’s subsidiaries. The net proceeds from the offering of the 2019 5.250% Senior Notes were used to partially repay the 2015 Revolving Credit Facility in May 2019. Melco Resorts Finance has the option to redeem all or a portion of the 2019 5.250% Senior Notes at any time prior to April 26, 2022, at a “make-whole” redemption price. On or after April 26, 2022, Melco Resorts Finance has the option to redeem all or a portion of the 2019 5.250% Senior Notes at any time at fixed redemption prices that decline ratably over time. In addition, Melco Resorts Finance has the option to redeem up to 35% of the 2019 5.250% Senior Notes with the net cash proceeds from one or more equity offerings at a fixed redemption price at any time prior to April 26, 2022. Further, under certain circumstances and subject to certain exceptions as more fully described in the indenture, Melco Resorts Finance also has the option to redeem in whole, but not in part the 2019 5.250% Senior Notes at fixed redemption prices. In certain events that relate to the gaming subconcession of Melco Resorts Macau and subject to certain exceptions as more fully described in the indenture, each holder of the 2019 5.250% Senior Notes will have the right to require Melco Resorts Finance to repurchase all or any part of such holder’s 2019 5.250% Senior Notes at a fixed redemption price. The indenture governing the 2019 5.250% Senior Notes contains certain covenants that, subject to certain exceptions and conditions, limit the ability of Melco Resorts Finance to, among other things, effect a consolidation or merger or sell assets. The indenture governing the 2019 5.250% Senior Notes also contains conditions and events of default customary for such financings. 2019 5.625% Senior Notes On July 17, 2019, Melco Resorts Finance issued $600,000 in aggregate principal amount of 5.625% senior notes due 5.625 Melco Resorts Finance has the option to redeem all or a portion of the 2019 5.625% Senior Notes at any time prior to July 17, 2022, at a “make-whole” redemption price. On or after July 17, 2022, Melco Resorts Finance has the option to redeem all or a portion of the 2019 5.625% Senior Notes at any time at fixed redemption prices that decline ratably over time. In addition, Melco Resorts Finance has the option to redeem up to 35% of the 2019 5.625% Senior Notes with the net cash proceeds from one or more equity offerings at a fixed redemption price at any time prior to July 17, 2022. Further, under certain circumstances and subject to certain exceptions as more fully described in the indenture, Melco Resorts Finance also has the option to redeem in whole, but not in part the 2019 5.625% Senior Notes at fixed redemption prices. In certain events that relate to the gaming subconcession of Melco Resorts Macau and subject to certain exceptions as more fully described in the indenture, each holder of the 2019 5.625% Senior Notes will have the right to require Melco Resorts Finance to repurchase all or any part of such holder’s 2019 5.625% Senior Notes at a fixed redemption price. The indenture governing the 2019 5.625% Senior Notes contains certain covenants that, subject to certain exceptions and conditions, limit the ability of Melco Resorts Finance to, among other things, effect a consolidation or merger or sell assets. The indenture governing the 2019 5.625% Senior Notes also contains conditions and events of default customary for such financings. 2019 5.375% Senior Notes On December 4, 2019, Melco Resorts Finance issued $900,000 in aggregate principal amount of 5.375% senior notes due December 4, 2029 at an issue price of 100% of the principal amount (the “2019 5.375% Senior Notes”). The interest on the 2019 5.375% Senior Notes is accrued at a rate of 5.375% per annum, payable semi-annually in arrears on June 4 and December 4 of each year, and commenced on June 4, 2020. The 2019 5.375% Senior Notes are general obligations of Melco Resorts Finance, rank equally in right of payment to all existing and future senior indebtedness of Melco Resorts Finance, rank senior in right of payment to any existing and future subordinated indebtedness of Melco Resorts Finance and are effectively subordinated to all of Melco Resorts Finance’s existing and future secured indebtedness to the extent of the value of the assets securing such debt and to the indebtedness of Melco Resorts Finance’s subsidiaries. The net proceeds from the offering of the 2019 5.375% Senior Notes were used to repay the outstanding borrowing of the 2015 Revolving Credit Facility in full and to partially prepay the 2015 Term Loan Facility (as described below) in December 2019. Melco Resorts Finance has the option to redeem all or a portion of the 2019 5.375% Senior Notes at any time prior to December 4, 2024 at a “make-whole” redemption price. On or after December 4, 2024, Melco Resorts Finance has the option to redeem all or a portion of the 2019 5.375% Senior Notes at any time at fixed redemption prices that decline ratably over time. In addition, Melco Resorts Finance has the option to redeem up to 35% of the 2019 5.375% Senior Notes with the net cash proceeds from one or more equity offerings at a fixed redemption price at any time prior to December 4, 2024. Further, under certain circumstances and subject to certain exceptions as more fully described in the indenture, Melco Resorts Finance also has the option to redeem in whole, but not in part the 2019 5.375% Senior Notes at fixed redemption prices. In certain events that relate to the gaming subconcession of Melco Resorts Macau and subject to certain exceptions as more fully described in the indenture, each holder of the 2019 5.375% Senior Notes will have the right to require Melco Resorts Finance to repurchase all or any part of such holder’s 2019 5.375% Senior Notes at a fixed redemption price. The indenture governing the 2019 5.375% Senior Notes contains certain covenants that, subject to certain exceptions and conditions, limit the ability of Melco Resorts Finance to, among other things, effect a consolidation or merger or sell assets. The indenture governing the 2019 5.375% Senior Notes also contains conditions and events of default customary for such financings. On July 21, 2020, Melco Resorts Finance issued $500,000 in aggregate principal amount of 5.750% senior notes due July 21, 2028 at an issue price of 100% of the principal amount (the “First 2020 5.750% Senior Notes”); and on August 11, 2020, Melco Resorts Finance further issued $350,000 in aggregate principal amount of 5.750% senior notes due July 21, 2028 at an issue price of 101% of the principal amount (the “Second 2020 5.750% Senior Notes”). The Second 2020 5.750% Senior Notes are consolidated and form a single series with the First 2020 5.750% Senior Notes (the “2020 5.750% Senior Notes”). The interest on the 2020 5.750% Senior Notes is accrued at a rate of 5.750% per annum, payable semi-annually in arrears on January 21 and July 21 of each year, and commenced on January 21, 2021. The 2020 5.750% Senior Notes are general obligations of Melco Resorts Finance, rank equally in right of payment to all existing and future senior indebtedness of Melco Resorts Finance, rank senior in right of payment to any existing and future subordinated indebtedness of Melco Resorts Finance and are effectively subordinated to all of Melco Resorts Finance’s existing and future secured indebtedness to the extent of the value of the assets securing such debt and to the indebtedness of Melco Resorts Finance’s subsidiaries. The net proceeds from the offering of the 2020 5.750% Senior Notes were partially used to repay the 2020 Credit Facilities (as described below) in July 2020 and with the remaining amount used for general corporate purposes. Melco Resorts Finance has the option to redeem all or a portion of the 2020 5.750% Senior Notes at any time prior to July 21, 2023 at a “make-whole” redemption price. On or after July 21, 2023, Melco Resorts Finance has the option to redeem all or a portion of the 2020 5.750% Senior Notes at any time at fixed redemption prices that decline ratably over time. In addition, Melco Resorts Finance has the option to redeem up to 35% of the 2020 5.750% Senior Notes with the net cash proceeds from one or more equity offerings at a fixed redemption price at any time prior to July 21, 2023. Further, under certain circumstances and subject to certain exceptions as more fully described in the indenture, Melco Resorts Finance also has the option to redeem in whole, but not in part the 2020 5.750% Senior Notes at fixed redemption prices. In certain events that relate to the gaming subconcession of Melco Resorts Macau and subject to certain exceptions as more fully described in the indenture, each holder of the 2020 5.750% Senior Notes will have the right to require Melco Resorts Finance to repurchase all or any part of such holder’s 2020 5.750% Senior Notes at a fixed redemption price. The indenture governing the 2020 5.750% Senior Notes contains certain covenants that, subject to certain exceptions and conditions, limit the ability of Melco Resorts Finance to, among other things, effect a consolidation or merger or sell assets. The indenture governing the 2020 5.750% Senior Notes also contains conditions and events of default customary for such financings. 2019 7.250% Studio City Notes On February 11, 2019, Studio City Finance Limited (“Studio City Finance”), a majority-owned subsidiary of Melco, issued $600,000 in aggregate principal amount of 7.250% senior notes which would have been due on February 11, 2024 at an issue price of 100% of the principal amount (the “2019 7.250% Studio City Notes”). The interest on the 2019 7.250% Studio City Notes was accrued at a rate of 7.250% per annum, payable semi-annually in arrears on February 11 and August 11 of each year, and commenced on August 11, 2019. The 2019 7.250% Studio City Notes were general obligations of Studio City Finance, ranked equally in right of payment to all existing and future senior indebtedness of Studio City Finance, ranked senior in right of payment to any existing and future subordinated indebtedness of Studio City Finance and were F-3 9 effectively subordinated to all of Studio City Finance’s existing and future secured indebtedness to the extent of the value of the property and assets securing such indebtedness. The net proceeds from the offering of the 2019 7.250% Studio City Notes were used to partially fund the conditional tender offer and the remaining outstanding balance with accrued interest of the previous senior notes of Studio City Finance in March 2019 and with the remaining amount used for general corporate purposes. As of February 17, 2021, no All of the existing subsidiaries of Studio City Finance and any other future restricted subsidiaries that provided guarantees of certain specified indebtedness (including the 2016 Studio City Credit Facilities as described below) (the “2019 7.250% Studio City Notes Guarantors”) jointly, severally and unconditionally guaranteed the 2019 7.250% Studio City Notes on a senior basis (the “2019 7.250% Studio City Notes Guarantees”). The 2019 7.250% Studio City Notes Guarantees were general obligations of the 2019 7.250% Studio City Notes Guarantors, ranked equally in right of payment to all existing and future senior indebtedness of the 2019 7.250% Studio City Notes Guarantors and ranked senior in right of payment to any existing and future subordinated indebtedness of the 2019 7.250% Studio City Notes Guarantors. The 2019 7.250% Studio City Notes Guarantees were effectively subordinated to the 2019 7.250% Studio City Notes Guarantors’ obligations under all existing and any future secured indebtedness to the extent of the value of such property and assets securing such indebtedness. At any time prior to February 11, 2021, Studio City Finance had the options i) to redeem all or a portion of the 2019 7.250% Studio City Notes at a “make-whole” redemption price; and ii) to redeem up to 35% of the 2019 7.250% Studio City Notes with the net cash proceeds of certain equity offerings at a fixed redemption price. Thereafter, Studio City Finance had the option to redeem all or a portion of the 2019 7.250% Studio City Notes at any time at fixed redemption prices that declined ratably over time. Further, under certain circumstances and subject to certain exceptions as more fully described in the indenture governing the 2019 7.250% Studio City Notes, Studio City Finance also had the option to redeem in whole, but not in part the 2019 7.250% Studio City Notes at fixed redemption prices. In certain events that related to the gaming subconcession of Melco Resorts Macau and subject to certain exceptions as more fully described in the indenture governing the 2019 7.250% Studio City Notes, each holder of the 2019 7.250% Studio City Notes would have the right to require Studio City Finance to repurchase all or any part of such holder’s 2019 7.250% Studio City Notes at a fixed redemption price. The indenture governing the 2019 7.250% Studio City Notes contained certain covenants that, subject to certain exceptions and conditions, limited the ability of Studio City Finance and its restricted subsidiaries to, among other things: (i) incur or guarantee additional indebtedness; (ii) make specified restricted payments; (iii) issue or sell capital stock; (iv) sell assets; (v) create liens; (vi) enter into agreements that restrict the restricted subsidiaries’ ability to pay dividends, transfer assets or make intercompany loans; (vii) enter into transactions with shareholders or affiliates; and (viii) effect a consolidation or merger. The indenture governing the 2019 7.250% Studio City Notes also contained conditions and events of default customary for such financings. There were provisions under the indenture governing the 2019 7.250% Studio City Notes that limited or prohibited certain payments of dividends and other distributions by Studio City Finance and its restricted subsidiaries to companies or persons who were not Studio City Finance or restricted subsidiaries of Studio City Finance, subject to certain exceptions and conditions. As of December 31, 2020, the net assets of Studio City Finance and its restricted subsidiaries of approximately $1,288,000 were restricted from being distributed under the terms of the 2019 7.250% Studio City Notes. 2020 Studio City Notes On July 15, 2020, Studio City Finance issued $500,000 in aggregate principal amount of 6.000% senior notes due July 15, 2025 at an issue price of 100% of the principal amount (the “2020 6.000% SC Notes”) and $500,000 in aggregate principal amount of 6.500% senior notes due January 15, 2028 at an issue price of 100% of the principal amount (the “2020 6.500% SC Notes” and together with 2020 6.000% SC Notes, the “2020 Studio City Notes”). The interest on the 2020 6.000% SC Notes and 2020 6.500% SC Notes is accrued at a rate of 6.000% and 6.500% per annum, respectively, payable semi-annually in arrears on January 15 and July 15 of each year, and commenced on January 15, 2021. The 2020 Studio City Notes are general obligations of Studio City Finance, rank equally in right of payment to all existing and future senior indebtedness of Studio City Finance, rank senior in right of payment to any existing and future subordinated indebtedness of Studio City Finance and are effectively subordinated to all of Studio City Finance’s existing and future secured indebtedness to the extent of the value of the property and assets securing such indebtedness. The net proceeds from the offering of the 2020 Studio City Notes were partially used to redeem in full the 2016 7.250% SC Secured Notes (as described below) with accrued interest and redemption premium in August 2020 and with the remaining amount used for the capital expenditures of the remaining development project for Studio City. All of the existing subsidiaries of Studio City Finance and any other future restricted subsidiaries that provide guarantees of certain specified indebtedness (including the 2016 Studio City Credit Facilities) (the “2020 Studio City Notes Guarantors”) jointly, severally and unconditionally guarantee the 2020 Studio City Notes on a senior basis (the “2020 Studio City Notes Guarantees”). The 2020 Studio City Notes Guarantees are general obligations of the 2020 Studio City Notes Guarantors, rank equally in right of payment to all existing and future senior indebtedness of the 2020 Studio City Notes Guarantors and rank senior in right of payment to any existing and future subordinated indebtedness of the 2020 Studio City Notes Guarantors. The 2020 Studio City Notes Guarantees are effectively subordinated to the 2020 Studio City Notes Guarantors’ obligations under all existing and any future secured indebtedness to the extent of the value of such property and assets securing such indebtedness. At any time prior to July 15, 2022, Studio City Finance has the options i) to redeem all or a portion of the 2020 6.000% SC Notes at a “make-whole” redemption price; and ii) to redeem up to 35% of the 2020 6.000% SC Notes with the net cash proceeds of certain equity offerings at a fixed redemption price. Thereafter, Studio City Finance has the option to redeem all or a portion of the 2020 6.000% SC Notes at any time at fixed redemption prices that decline ratably over time. At any time prior to July 15, 2023, Studio City Finance has the options i) to redeem all or a portion of the 2020 6.500% SC Notes at a “make-whole” redemption price; and ii) to redeem up to 35% of the 2020 6.500% SC Notes with the net cash proceeds of certain equity offerings at a fixed redemption price. Thereafter, Studio City Finance has the option to redeem all or a portion of the 2020 6.500% SC Notes at any time at fixed redemption prices that decline ratably over time. Further, under certain circumstances and subject to certain exceptions as more fully described in the indenture governing the 2020 Studio City Notes, Studio City Finance also has the option to redeem in whole, but not in part the 2020 Studio City Notes at fixed redemption prices. In certain events that relate to the gaming subconcession of Melco Resorts Macau and subject to certain exceptions as more fully described in the indenture governing the 2020 Studio City Notes, each holder of the 2020 Studio City Notes will have the right to require Studio City Finance to repurchase all or any part of such holder’s 2020 Studio City Notes at a fixed redemption price. The indenture governing the 2020 Studio City Notes contains certain covenants that, subject to certain exceptions and conditions, limit the ability of Studio City Finance and its restricted subsidiaries to, among other things: (i) incur or guarantee additional indebtedness; (ii) make specified restricted payments; (iii) issue or sell capital stock; (iv) sell assets; (v) create liens; (vi) enter into agreements that restrict the restricted subsidiaries’ ability to pay dividends, transfer assets or make intercompany loans; (vii) enter into transactions with shareholders or affiliates; and (viii) effect a consolidation or merger. The indenture governing the 2020 Studio City Notes also contains conditions and events of default customary for such financings. There are provisions under the indenture governing the 2020 Studio City Notes that limit or prohibit certain payments of dividends and other distributions by Studio City Finance and its restricted subsidiaries to companies or persons who are not Studio City Finance or restricted subsidiaries of Studio City Finance, subject to certain exceptions and conditions. As of December 31, 2020, the net assets of Studio City Finance and its restricted subsidiaries of approximately $1,288,000 were restricted from being distributed under the terms of the 2020 Studio City Notes. 2016 7.250% SC Secured Notes On November 30, 2016, Studio City Company Limited (“Studio City Company”), a majority-owned subsidiary of Melco, issued $850,000 in aggregate principal amount of 7.250% senior secured notes due November 30, 2021 at an issue price of 100% of the principal amount (the “2016 7.250% SC Secured Notes”). The net proceeds from the offering of the 2016 7.250% SC Secured Notes were used to partially repay the Studio City Borrower’s prior senior secured credit facilities (as described below). The interest on the 2016 7.250% SC Secured Notes was accrued at a rate of 7.250% per annum and was payable semi-annually in arrears. On August 14, 2020, Studio City Company used a portion of the net proceeds from the offering of the 2020 Studio City Notes to redeem in full the 2016 7.250% SC Secured Notes, together with accrued interest and redemption premium. In connection with the redemption of the 2016 7.250% SC Secured Notes, the Company recorded a loss on extinguishment of debt of $18,716 during the year ended December 31, 2020. (b) Credit Facilities 2015 Credit Facilities On June 29, 2015, Melco Resorts Macau (the “Borrower”) amended and restated the Borrower’s prior senior secured credit facilities agreement from 9,362,160,000 Hong Kong dollars (“HK$”) (equivalent to $1,203,362) to a HK$13,650,000,000 (equivalent to $1,750,000) senior secured credit facilities agreement (the “2015 Credit Facilities”), comprising a HK$3,900,000,000 (equivalent to $500,000) term loan facility (the “2015 Term Loan Facility”) and a HK$9,750,000,000 (equivalent to $1,250,000) multicurrency revolving credit facility (the “2015 Revolving Credit Facility”). In December 2019, the Company partially prepaid an outstanding principal amount of HK$2,750,000,000 (equivalent to $353,062) of the 2015 Term Loan Facility, together with accrued interest and associated costs, with a portion of the net proceeds from the offering of the 2019 5.375% Senior Notes. In connection with this prepayment, the Company recorded a loss on extinguishment of debt of $2,612 during the year ended December 31, 2019. Before the signing and effective of the Waiver Letter (as described below), the maturity date of the 2015 Credit Facilities was: (i) June 29, 2021 in respect of the 2015 Term Loan Facility; and (ii) June 29, 2020 in respect of the 2015 Revolving Credit Facility, or if earlier, the date of repayment, prepayment or cancellation in full of the 2015 Credit Facilities. The 2015 Term Loan Facility was repayable in quarterly instalments according to an amortisation schedule. Each loan made under the 2015 Revolving Credit Facility is repayable in full on the last day of an agreed upon interest period in respect of the loan, generally ranging from one to six months, or rolling over subject to compliance with certain covenants and satisfaction of conditions precedent. Borrowings under the 2015 Credit Facilities bore interest at Hong Kong Interbank Offered Rate (“HIBOR”) plus a margin ranging from 1.25% to 2.50% per annum as adjusted in accordance with the leverage ratio in respect of the 2015 Borrowing Group. The Borrower might select an interest period for borrowings under the 2015 Credit Facilities ranging from one to six months or any other agreed period. On May 6, 2020, MCO Nominee One Limited (“MCO Nominee One”), a subsidiary of Melco, drew down HK$2,730,000,000 (equivalent to $352,189) of the revolving credit facility under the 2020 Credit Facilities (as described below) and, on May 7, 2020, the Company used a portion of the proceeds from such drawdown to repay all outstanding loan amounts under the 2015 Credit Facilities, together with accrued interest and associated costs, other than HK$1,000,000 (equivalent to $129) which remained outstanding under the 2015 Term Loan Facility. Following the repayment of outstanding amounts under the 2015 Credit Facilities, together with accrued interest and associated costs, on May 7, 2020, all other commitments under the 2015 Term Loan Facility and a part of the commitments under the 2015 Revolving Credit Facility were cancelled. Post-cancellation, the available commitments under the 2015 Revolving Credit Facility were HK$1,000,000 (equivalent to $129), collateralized by cash of HK$2,130,000 (equivalent to $275). The Company recorded a loss on extinguishment of debt of $1,236 and a cost associated with debt modification of $310 during the year ended December 31, 2020 in connection with this repayment and a part of the 2015 Revolving Credit Facility commitment cancellation. Compliance with certain provisions of the 2015 Credit Facilities were waived pursuant to a waiver letter from Bank of China Limited, Macau Branch (in its capacity as the sole lender under the 2015 Credit Facilities) (“BOC Macau”) to the Borrower dated April 29, 2020 (the “Waiver Letter”). The Waiver Letter became effective on May 7, 2020. Pursuant to the terms of the Waiver Letter, BOC Macau agreed, among other things, to relax the Borrower’s obligations under the 2015 Credit Facilities by way of a waiver of (i) to extend the maturity date of the 2015 Credit Facilities to June 24, 2022; (ii) the repayment term of the 2015 Term Loan Facility; (iii) interest rate of the borrowings change to HIBOR plus a margin of 1% per annum; (iv) the requirement to comply with substantially all information undertakings, financial covenants, general undertakings and mandatory prepayment provisions, (v) the requirement to make substantially all of the representations, and (vi) certain current and/or future defaults and events of default that may arise under the terms of the 2015 Credit Facilities, subject to certain conditions and terms. As of December 31, 2020, the outstanding principal amount of the 2015 Term Loan Facility and the 2015 Revolving Credit Facility was HK$1,000,000 (equivalent to $129) and nil, respectively, and the available borrowing capacity under 2015 Revolving Credit Facility was HK$1,000,000 (equivalent to $129). The indebtedness under the 2015 Credit Facilities is guaranteed by the borrowing group which includes the Borrower and certain of its subsidiaries as defined under the 2015 Credit Facilities (the “2015 Borrowing Group”). Security for the 2015 Credit Facilities includes: a first-priority interest in substantially all assets of the 2015 Borrowing Group, the issued share capital and equity interests and certain buildings, fixtures and equipment of the 2015 Borrowing Group and certain other excluded assets and customary security. With effect from May 7, 2020, the provisions that limited certain payments of dividends and other distributions by the 2015 Borrowing Group to companies or persons who were not members of the 2015 Borrowing Group was waived pursuant to the terms of the Waiver Letter. The Borrower is obligated to pay a commitment fee on the undrawn amount of the 2015 Revolving Credit Facility and recognized loan commitment fees of $1,512, $2,322 and $3,870 durin

LEASES

LEASES	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
LEASES	13. LEASES Lessee Arrangements The Company is the lessee under operating and finance leases for equipment and real estate, including the land and certain of the building structure for City of Dreams Manila under the MRP Lease Agreement as described in Note 21, Cyprus casino sites, Mocha Clubs sites, office space, warehouses, staff quarters, and certain parcels of land in Macau on which Altira Macau, City of Dreams and Studio City are located. Certain lease agreements provide for periodic rental increases based on both contractual agreed incremental rates and on the general inflation rate once agreed by the Company and its lessors and in some cases contingent rental expenses stated as a percentage of turnover. Certain leases include options to extend the lease term and options to terminate the lease term. The land concession contracts in Macau have a term of 25 years, which is renewable for further consecutive periods of 10 years, subject to applicable legislation in Macau. The estimated term related to the land concession contracts in Macau is 40 years. The components of lease costs Year Ended 2020 2019 Operating lease costs Amortization of land use rights $ 22,886 $ 22,659 Operating lease costs 31,039 39,681 Short-term lease costs 842 1,569 Variable lease costs (5,565 ) 9,595 Finance lease cost s Amortization of right-of-use 12,836 12,326 Interest cost 41,550 39,696 Total lease costs $ 103,588 $ 125,526 During the year ended December 2018, the Company incurred rental and right to use expenses amounting to $45,816, which consisted of minimum rental and right to use expenses of $29,896 and contingent rental and right to use expenses of $15,920. Other information related to lease term and discount rate is as follows: December 31, 2020 2019 Weighted average remaining lease term Operating leases 19.8 18.3 Finance leases 12.5 13.5 Weighted average discount rate Operating leases 5.76 % 5.82 % Finance leases 13.49 % 13.49 % Maturities of lease liabilities as of December 31, 2020 are as follows: Operating Leases Finance Leases Year ending December 31, 2021 $ 27,729 $ 83,447 2022 14,999 50,931 2023 9,669 52,119 2024 6,961 53,523 2025 6,454 53,442 Over 2025 95,222 405,285 Total future minimum lease payments 161,034 698,747 Less: amount representing interest (58,101 ) (348,520 ) Present value of future minimum lease payments 102,933 350,227 Current portion (27,066 ) (80,004 ) Non-current $ 75,867 $ 270,223 Lessor Arrangements The Company is the lessor under non-cancellable operating leases mainly for mall spaces in the sites of City of Dreams, City of Dreams Manila and Studio City with various retailers that expire at various dates through Certain of the operating leases include minimum base fees with contingent fee clauses based on percentages of turnover. During the year ended December 31, 2020, the Company earned minimum operating lease income of $37,257 and contingent operating lease income of $(1,955). The lease income was reduced by $18,356 as a result of the rent concessions and uncollectable lease income related to the effects of the COVID-19 Future minimum fees, excluding the contingent fees to be received under non-cancellable Year ending December 31, 2021 $ 50,349 2022 47,953 2023 44,032 2024 44,772 2025 46,245 Over 202 5 24,626 $ 257,977

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	14. FAIR VALUE MEASUREMENTS Authoritative literature provides a fair value hierarchy, which prioritizes the input to valuation techniques used to measure fair values into three broad levels. The level in the hierarchy within which the fair value measurements in its entirety is based upon the lowest level of input that is significant to the fair value measurement as follows: • Level 1 – inputs are based upon unadjusted quoted prices for identical instruments traded in active markets. • Level 2 – inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3 – inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques that include option pricing models, discounted cash flow models and similar techniques. The carrying values of cash and cash equivalents and restricted cash approximated fair value and were classified as level 1 in the fair value hierarchy. The carrying values of long-term deposits, long-term receivables and other long-term liabilities approximated fair value and were classified as level 2 in the fair value hierarchy. The estimated fair value of long-term debt as of December 31, 2020 and 2019, were approximately $5,982,252 and $4,607,202, respectively, as compared to its carrying value, excluding unamortized deferred financing costs and original issue premiums, of $5,700,168 and $4,451,278, respectively. Fair values were estimated using quoted market prices and were classified as level 1 in the fair value hierarchy for the 2017 4.875% Senior Notes, the 2019 5.250% Senior Notes, the 2019 5.625% Senior Notes, the 2019 5.375% Senior Notes, the 2020 5.750% Senior Notes, the 2019 7.250% Studio City Notes, the 2020 Studio City Notes and the 2016 7.250% SC Secured Notes. Fair values for the 2015 Credit Facilities, the 2020 Credit Facilities and the 2016 Studio City Credit Facilities approximated the carrying values as the instruments carried variable interest rates that approximated the market rates and were classified as level 2 in the fair value hierarchy. As of December 31, 2020 and 2019, the Company did not have any non-financial The Company’s financial assets and liabilities recorded at fair value have been categorized based upon fair values in accordance with the applicable accounting standards. As of December 31, 2019, investment securities were carried at fair value. Fair values of investment securities were estimated using quoted market prices and were classified as level 1 in the fair value hierarchy.

CAPITAL STRUCTURE

CAPITAL STRUCTURE	12 Months Ended
	Dec. 31, 2020
Text Block [Abstract]
CAPITAL STRUCTURE	15. CAPITAL STRUCTURE Treasury Shares Melco’s treasury shares represent new shares issued by Melco and the shares repurchased by Melco under the respective share repurchase programs. The treasury shares are mainly held by the depositary bank to facilitate the administration and operations of Melco’s share incentive plans, and are to be delivered to the directors, eligible employees and consultants on the vesting of restricted shares and upon the exercise of share options. During the years ended December 31, 2020, 2019 and 2018, Melco issued nil, nil On March 21, 2018, the Board of Directors of Melco authorized the repurchase of Melco’s ordinary shares and/or ADSs of up to an aggregate of $500,000 over a three three 10b-18 During the year ended December 31, 2020, 3,148,824 ADSs, equivalent to 9,446,472 ordinary shares were repurchased under the 2018 Share Repurchase Programs, of which nil As of December 31, 2020 and 2019, Melco had 1,456,547,942 and 1,456,547,942 issued ordinary shares, and 25,582,630 and 19,219,846 treasury shares, with 1,430,965,312 and 1,437,328,096 ordinary shares outstanding, respectively.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	16. INCOME TAXES (Loss) income before income tax consisted of: Year Ended December 31, 2020 2019 2018 Macau operations $ (772,988 ) $ 665,591 $ 522,390 Hong Kong operations (342,715 ) (72,676 ) (48,385 ) Philippine operations (102,990 ) 61,768 83,758 Cyprus operations (11,190 ) 16,432 (14,268 ) Other jurisdictions operations (227,644 ) (268,548 ) (204,361 ) (Loss) income before income tax $ (1,457,527 ) $ 402,567 $ 339,134 The income tax (credit) expense consisted of: Year Ended December 31, 2020 2019 2018 Income tax expense - current: Macau Complementary Tax $ 6,402 $ 1,130 $ 676 Lump sum in lieu of Macau Complementary Tax on dividends 2,367 2,345 2,341 Hong Kong Profits Tax 38 64 46 Philippine Corporate Income Tax 59 5 2 Cyprus Corporate Income Tax — 1,699 — Income tax in other jurisdictions 2,182 1,867 406 Sub-total 11,048 7,110 3,471 (Over) under provision of income taxes in prior years: Macau Complementary Tax (544 ) 38 793 Hong Kong Profits Tax (2 ) (3 ) (2,303 ) Philippine Corporate Income Tax (5 ) (1 ) (6 ) Cyprus Corporate Income Tax 58 — — Income tax in other jurisdictions 482 326 45 Sub-total (11 ) 360 (1,471 ) Income tax (credit) expense - deferred: Macau Complementary Tax (9,762 ) (900 ) (629 ) Hong Kong Profits Tax (26 ) (341 ) (2,554 ) Philippine Corporate Income Tax (3,774 ) 2,283 1,164 Cyprus Corporate Income Tax (64 ) (606 ) 683 Income tax in other jurisdictions (324 ) 433 (426 ) Sub-total (13,950 ) 869 (1,762 ) Total income tax (credit) expense $ (2,913 ) $ 8,339 $ 238 A reconciliation of the income tax (credit) expense from (loss) income before income tax per the accompanying consolidated statements of operations is as follows: Year Ended December 31, 2020 2019 2018 (Loss) income before income tax $ (1,457,527 ) $ 402,567 $ 339,134 Macau Complementary Tax rate 12 % 12 % 12 % Income tax (credit) expense at Macau Complementary Tax rate (174,903 ) 48,308 40,696 Lump sum in lieu of Macau Complementary Tax on dividends 2,367 2,345 2,341 Effect of different tax rates of subsidiaries operating in other jurisdictions (36,938 ) 2,178 7,067 (Over) under provision in prior years (11 ) 360 (1,471 ) Effect of income for which no income tax expense is payable (8,171 ) (9,763 ) (3,035 ) Effect of expenses for which no income tax benefit is receivable 107,037 54,856 38,468 Effect of profits generated by gaming operations exempted — (165,947 ) (157,367 ) Effect of tax losses that cannot be carried forward 32,605 — — Changes in valuation allowances 32,166 30,473 12,838 Expired tax losses 42,935 45,529 60,701 Income tax (credit) expense $ (2,913 ) $ 8,339 $ 238 Melco and certain of its subsidiaries are exempt from tax in the Cayman Islands or British Virgin Islands, where they are incorporated, while Melco is subject to Hong Kong Profits Tax on profits from its activities conducted in Hong Kong. Certain subsidiaries incorporated or conducting businesses in Macau, Hong Kong, the Philippines, Cyprus and other jurisdictions are subject to Macau Complementary Tax, Hong Kong Profits Tax, Philippine Corporate Income Tax, Cyprus Corporate Income Tax and income tax in other jurisdictions, respectively, during the years ended December 31, 2020, 2019 and 2018. Macau Complementary Tax, Hong Kong Profits Tax, Philippine Corporate Income Tax, Cyprus Corporate Income Tax and income tax in other jurisdictions have been provided at 12%, 16.5%, 30%, 12.5% and the respective tax rates in other jurisdictions, on the estimated taxable income earned in or derived from the respective jurisdictions, during the years ended December 31, 2020, 2019 and 2018, if applicable. Pursuant to the approval notice issued by the Macau government in September 2016, Melco Resorts Macau was granted an extension of the Macau Complementary Tax exemption on profits generated from gaming operations for an additional five years from 2017 to 2021. One of Melco’s subsidiaries in Macau has also been exempted from Macau Complementary Tax on profits generated from income received from Melco Resorts Macau for an additional five years from 2017 to 2021, to the extent that such income is derived from Studio City gaming operations and has been subject to gaming tax pursuant to a notice issued by the Macau government in January 2017. The exemption coincides with Melco Resorts Macau’s exemption from Macau Complementary Tax. The non-gaming non-gaming Based on the Supreme Court of the Philippines decision in the case of Bloomberry Resorts and Hotels, Inc. vs. the Bureau of Internal Revenue, G. R. No. 212530 dated November 28, 2016, management believes that the gaming operations of Melco Resorts Leisure, the operator of City of Dreams Manila, are exempt from Philippine Corporate Income Tax, among other taxes, provided the license fees which are inclusive of the 5% franchise tax under the PAGCOR Charter, are paid. During the year ended December 31, 2020, Melco Resorts Macau, Melco Resorts Leisure and Melco’s subsidiary in Macau did not have any profits generated by gaming operations exempted from Macau Complementary Tax and Philippine Corporate Income Tax. During the years ended December 31, 2019 and 2018, had Melco Resorts Macau, Melco Resorts Leisure and Melco’s subsidiary in Macau not received the income tax exemption on profits generated by gaming operations in Macau and the Philippines, the Company’s consolidated net income attributable to Melco Resorts & Entertainment Limited for the years ended December 31, 2019 and 2018 would have been reduced by $145,617 and $129,241, and diluted earnings per share would have been reduced by $0.101 and $0.085 per share, respectively. In August 2017, Melco Resorts Macau received an extension of the agreement with the Macau government for an additional five years applicable to tax years 2017 through 2021, in which the extension agreement provides for an annual payment of 18,900,000 Macau Patacas (“MOP”) (equivalent to $2,367) as payments in lieu of Macau Complementary Tax otherwise due by the shareholders of Melco Resorts Macau on dividend distributions from gaming profits. Such annual payment is required regardless of whether dividends are actually distributed or whether Melco Resorts Macau has distributable profits in the relevant year. The effective tax rates for the years ended December 31, 2020, 2019 and 2018 were 0.20%, 2.07% and 0.07%, respectively. Such rates differ from the statutory Macau Complementary Tax rate of 12% primarily due to the effect of expired tax losses, the effect of changes in valuation allowances, the effect of expenses for which no income tax benefit is receivable, the effect of income for which no income tax expense is payable and the effect of different tax rates of subsidiaries operating in other jurisdictions for the relevant years together with the effect of tax losses that cannot be carried forward for the year ended December 31, 2020 and the effect of profits generated by gaming operations being exempted from Macau Complementary Tax and Philippine Corporate Income Tax for years ended December 31, 2019 and 2018. The net deferred tax liabilities as of December 31, 2020 and 2019 consisted of the following: December 31, 2020 2019 Deferred tax assets Net operating losses carried forward $ 220,287 $ 167,293 Depreciation and amortization 64,588 49,985 Lease liabilities 48,184 104,404 Others 4,974 9,373 Sub-total 338,033 331,055 Valuation allowances (284,656 ) (257,965 ) Total deferred tax assets 53,377 73,090 Deferred tax liabilities Right-of-use (28,942 ) (63,011 ) Land use rights (47,690 ) (46,430 ) Intangible assets (508 ) (506 ) Unrealized capital allowances (7,553 ) (7,242 ) Others (8,260 ) (9,020 ) Total deferred tax liabilities (92,953 ) (126,209 ) Deferred tax liabilities, net $ (39,576 ) $ (53,119 ) As of December 31, 2020 and 2019, valuation allowances of $284,656 and $257,965 were provided, respectively, as management believes it is more likely than not that these deferred tax assets will not be realized. As of December 31, 2020, adjusted operating tax losses carried forward of $96,171 have no expiry date and the remaining tax losses amounting to $1,277,376 will expire by 2021 through 2030. Adjusted operating tax losses carried forward of $227,117 expired during the year ended December 31, 2020. Deferred tax, where applicable, is provided under the asset and liability method at the enacted statutory income tax rate of the respective tax jurisdictions, applicable to the respective financial years, on the difference between the consolidated financial statements carrying amounts and income tax base of assets and liabilities. Aggregate undistributed earnings of certain Melco’s foreign subsidiaries available for distribution to Melco of approximately $893,024 and $1,024,419 as at December 31, 2020 and 2019, respectively, are considered to be indefinitely reinvested. Accordingly, no provision has been made for the dividend withholding taxes that would be payable upon the distribution of those amounts to Melco. If those earnings were to be distributed or they were determined to be no longer permanently reinvested, Melco would have to record a deferred income tax liability in respect of those undistributed earnings of approximately $107,162 and $124,169 as at December 31, 2020 and 2019, respectively. A reconciliation of the beginning and ending amounts of unrecognized tax benefits is presented as follows: Year Ended December 31, 2020 2019 2018 At beginning of year $ 7,504 $ 4,929 $ 2,582 Additions based on tax positions related to current year 8,057 2,575 2,347 Reductions due to expiry of the statute of limitations (429 ) — — At end of year $ 15,132 $ 7,504 $ 4,929 The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate was $15,132 and $7,504 as of December 31, 2020 and 2019, respectively. As of December 31, 2020 and 2019, there were no interest and penalties related to uncertain tax positions recognized in the accompanying consolidated financial statements. The Company does not anticipate any significant increases or decreases in unrecognized tax benefits within the next twelve months. Melco and its subsidiaries’ major tax jurisdictions are Hong Kong, Macau, the Philippines and Cyprus. Income tax returns of Melco and its subsidiaries remain open and subject to examination by the local tax authorities of Macau, Hong Kong, the Philippines and Cyprus until the statute of limitations expire in each corresponding jurisdiction. The statute of limitations in Macau, Hong Kong, the Philippines and Cyprus are five years, six years, three years and six years, respectively.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SHARE-BASED COMPENSATION	17. SHARE-BASED COMPENSATION 2006 Share Incentive Plan Melco adopted a share incentive plan in 2006 (“2006 Share Incentive Plan”), as amended, for grants of share options and nonvested shares of Melco’s ordinary shares to eligible directors, employees and consultants of the Company and its affiliates. The maximum term of an award was 10 years from the date of the grant. The maximum aggregate number of ordinary shares to be available for all awards under the 2006 Share Incentive Plan was 100,000,000 over 10 years. On December 7, 2011, the Company adopted a new share incentive plan (“2011 Share Incentive Plan”) as described below and no further awards may be granted under the 2006 Share Incentive Plan on or after such date as all subsequent awards will be issued under the 2011 Share Incentive Plan. Share Options A summary of the share options activity under the 2006 Share Incentive Plan for the year ended December 31, 2020, is presented as follows: Number of Weighted Weighted Aggregate Outstanding as of January 1, 2020 2,151,432 $ 1.72 Exercised (267,141 ) 1.49 Outstanding as of December 31, 2020 1,884,291 $ 1.75 0.22 $ 8,347 Fully vested and exercisable as of December 31, 2020 1,884,291 $ 1.75 0.22 $ 8,347 The following information is provided for share options under the 2006 Share Incentive Plan: Year Ended December 31, 2020 2019 2018 Proceeds from the exercise of share options $ 397 $ 44 $ 1,195 Intrinsic value of share options exercised $ 747 $ 920 $ 37,239 As of December 31, 2020, there were no unrecognized compensation costs related to share options under the 2006 Share Incentive Plan. 2011 Share Incentive Plan Melco adopted the 2011 Share Incentive Plan, effective on December 7, 2011, which has been subsequently amended and restated, for grants of various share-based awards, including but not limited to, options to purchase Melco’s ordinary shares, restricted shares, share appreciation rights and other types of awards to eligible directors, employees and consultants of the Company and its affiliates. The maximum term of an award is 10 years from the date of the grant. The maximum aggregate number of ordinary shares to be available for all awards under the 2011 Share Incentive Plan is 100,000,000 over 10 years, which could be raised up to 10% of the issued share capital upon shareholders’ approval. As of December 31, 2020, there were 37,823,024 ordinary shares available for grants of various share-based awards under the 2011 Share Incentive Plan. Share Options During the years ended December 31, 2020, 2019 and 2018, the exercise prices for share options granted under the 2011 Share Incentive Plan were determined at the market closing prices of Melco’s ADS trading on the Nasdaq Global Select Market on the dates of grant. These share options became exercisable over vesting periods of two Th e The fair values of share options granted under the 2011 Share Incentive Plan were estimated on the dates of grant using the following weighted average assumptions as follows: Year Ended December 31, 2020 2019 2018 Expected dividend yield 3.10 % 2.75 % 2.04 % Expected stock price volatility 43.50 % 41.81 % 40.17 % Risk-free interest rate 0.43 % 2.34 % 2.62 % Expected term (years) 5.6 5.6 5.56 A summary of the share options activity under the 2011 Share Incentive Plan for the year ended December 31, 2020, is presented as follows: Number of Weighted Weighted Aggregate Outstanding as of January 1, 2020 19,776,978 $ 7.01 Granted 12,159,207 4.13 Exercised (122,040 ) 5.44 Forfeited or expired (2,967,918 ) 5.82 Outstanding as of December 31, 2020 28,846,227 $ 5.93 7.25 $ 28,312 Fully vested and expected to vest as of December 31, 2020 28,846,227 $ 5.93 7.25 $ 28,312 Exercisable as of December 31, 2020 13,002,909 $ 6.21 5.38 $ 6,999 The following information is provided for share options under the 2011 Share Incentive Plan: Year Ended December 31, 2020 2019 2018 Weighted average grant date fair value $ 1.21 $ 2.59 $ 3.09 Proceeds from the exercise of share options $ 664 $ 2,798 $ 3,823 Intrinsic value of share options exercised $ 129 $ 1,201 $ 3,744 As of December 31, 2020, there were $13,998 unrecognized compensation costs related to share options under the 2011 Share Incentive Plan and the costs are expected to be recognized over a weighted average period of 1.84 years. Restricted Shares During the years ended December 31, 2020, 2019 and 2018, the grant date fair values for restricted shares granted under the 2011 Share Incentive Plan, with vesting periods of generally two A summary of the restricted shares activity under the 2011 Share Incentive Plan for the year ended December 31, 2020, is presented as follows: Number of Weighted Unvested as of January 1, 2020 7,105,176 $ 7.94 Granted 9,497,823 4.17 Vested (2,822,235 ) 7.20 Forfeited (424,134 ) 6.62 Unvested as of December 31, 2020 13,356,630 $ 5.46 The following information is provided for restricted shares under the 2011 Share Incentive Plan: Year Ended December 31, 2020 2019 2018 Weighted average grant date fair value $ 4.17 $ 8.14 $ 9.50 Grant date fair value of restricted shares vested $ 20,317 $ 8,825 $ 13,952 As of December 31, 2020, there were $40,756 unrecognized compensation costs related to restricted shares under the 2011 Share Incentive Plan and the costs are expected to be recognized over a weighted average period of 1.91 years. In January 2021, Melco approved the grant of restricted shares under the 2011 Share Incentive Plan to the eligible management personnel of the Company in lieu of the 2020 bonus for their services performed during 2020. The grant vest ed on March 31, as $ , of which $ were capitalized, were recognized for such grant during the year ended December , based on the estimated bonus amount. MRP Share Incentive Plan MRP adopted a share incentive plan (the “MRP Share Incentive Plan”), effective on June 24, 2013, which has been subsequently amended and restated, for grants of various share-based awards, including but not limited to, options to purchase MRP common shares, restricted shares, share appreciation rights and other types of awards to eligible directors, employees and consultants of MRP and its subsidiaries, and the Company and its affiliates. The maximum term of an award is 10 years from the date of grant. The maximum aggregate number of common shares to be available for all awards under the MRP Share Incentive Plan is 442,630,330 shares and with up to 5% of the issued capital stock of MRP from time to time over 10 years. On April 24, 2019 and June 24, 2019, the board and the stockholders of MRP approved an amendment to the Amended Articles of Incorporation of MRP, respectively, whereby, without changing the total amount of the authorized capital stock, the par value per MRP common share was increased from MRP common On May 22, 2019, MRP offered to all eligible participants of the MRP Share Incentive Plan the option to retire all outstanding equity awards, including the unvested share options, vested but unexercised share options and unvested restricted shares (collectively, the “MRP Outstanding Awards”) by the payment of cash to the eligible participants (the “MRP SIP Retirement Arrangements”) in light of the delisting of the MRP as disclosed in Note 26. The acquiescence of such MRP SIP Retirement Arrangements was obtained from the Philippine SEC on May 17, 2019. As a result of all eligible participants electing to participate in the MRP SIP Retirement Arrangements, all the MRP Outstanding Awards, including a total of 15,971,173 outstanding share options (including both unvested and vested but unexercised share options) and 29,068,424 outstanding restricted shares under the MRP Share Incentive Plan, were irrevocably cancelled and extinguished pursuant to the MRP SIP Retirement Arrangements on May 31, 2019 (the “MRP SIP Modification”). Under the MRP SIP Retirement Arrangements, MRP will pay the eligible participants a fixed amount in cash (“MRP Settlement Amount”) according to the original vesting schedules of the outstanding share options and restricted shares, subject to other terms and conditions. The MRP Settlement Amount of the outstanding restricted shares is PHP7.25 (equivalent to $0.14) per share, based on the offer price of the Tender Offer (as described in Note 26) in 2018 and the MRP Settlement Amount of the outstanding share options which was determined using the Black-Scholes valuation model. The weighted average fair value of the share options at the modification date was PHP4.23 (equivalent to $0.08) per option. MRP uses the Black-Scholes valuation model to determine the estimated fair value for each outstanding share option under the MRP SIP Retirement Arrangements at the modification date, with highly subjective assumptions, changes in which could materially affect the estimated fair value. Dividend yield is based on the estimate of annual dividends expected to be paid. Expected volatility is based on the historical volatility of MRP common shares trading on the Philippine Stock Exchange, Inc. (“PSE”) and the historical volatility of a peer group of publicly traded companies. Expected terms are based upon the expected exercise behavior of the outstanding options. The risk-free interest rate used for each period presented is based on the Philippine government bond yield for the period equal to the expected term. The fair values of the outstanding share options under the MRP SIP Retirement Arrangements at modification date were estimated using the following weighted average assumptions as follows: Expected dividend yield — Expected stock price volatility 45.00 % Risk-free interest rate 5.81 % Expected term (years) 5.7 As a result of the MRP SIP Modification, on May 31, 2019, the Company recognized a liability of $4,064 with a corresponding reduction in additional paid-in non-controlling As at December 31, 2020 and 2019, the accrued liability associated with the cash-settled share options and restricted shares was $333 and $1,217, respectively. No fair value gain or loss on remeasurement of the liability associated with the cash-settled share options and restricted shares was recognized for the years ended December 31, 2020 and 2019. Share Options There were no share options granted under the MRP Share Incentive Plan during the years ended December 31, 2020 and 2019. During the year ended December 31, 2018, the exercise prices for share options granted under the MRP Share Incentive Plan were determined with reference to the market closing prices of MRP common shares on the dates of grant as defined in the MRP Share Incentive Plan. These share options generally became exercisable over vesting periods of two MRP uses the Black-Scholes valuation model to determine the estimated fair value for each share option granted, with highly subjective assumptions, changes in which could materially affect the estimated fair value. Dividend yield is based on the estimate of annual dividends expected to be paid at the time of grant. Expected volatility is based on the historical volatility of MRP common shares trading on the PSE and a peer group of publicly traded companies. Expected term is based upon the vesting term or the historical expected term of Melco. The risk-free interest rate used for each period presented is based on the Philippine government bond yield at the time of grant for the period equal to the expected term. The fair value of share options granted under the MRP Share Incentive Plan was estimated on the date of grant using the following weighted average assumptions as follows: Year Ended Expected dividend yield — Expected stock price volatility 45.00 % Risk-free interest rate 5.69 % Expected term (years) 5.6 A summary of the share options activity under the MRP Share Incentive Plan for the year ended December 31, 2020, is presented as follows: Number of Weighted Cash-settled Outstanding as of January 1, 2020 7,383,408 Vested (6,357,751 ) Outstanding as of December 31, 2020 1,025,657 7.25 The following information is provided for share options under the MRP Share Incentive Plan: Year Ended December 31, 2020 2019 2018 Weighted average grant date fair value $ — $ — $ 0.07 There were During the years ended December 31, 2020 and 2019, MRP paid $495 and $760 to settle the vested share options that are classified as cash-settled awards under the MRP Share Inventive Plan, respectively. As of December 31, 2020, there were $14 unrecognized compensation costs related to share options under the MRP Share Incentive Plan and the costs are expected to be recognized over a weighted average period of 0.24 year. Restricted Shares There were no restricted shares granted under the MRP Share Incentive Plan during the years ended December 31, 2020 and 2019. During the year ended December 31, 2018, the grant date fair values for restricted shares granted under the MRP Share Incentive Plan, with vesting periods of generally two A summary of the restricted shares activity under the MRP Share Incentive Plan for the year ended December 31, 2020, is presented as follows: Number of Weighted Cash-settled Unvested as of January 1, 2020 8,235,686 $ 0.16 Vested (5,922,184 ) 0.17 Unvested as of December 31, 2020 2,313,502 $ 0.15 The following information is provided for restricted shares under the MRP Share Incentive Plan: Year Ended December 31, 2020 2019 2018 Weighted average grant date fair value $ — $ — $ 0.14 Grant date fair value of restricted shares vested $ 1,030 $ 2,026 $ 1,747 During the years ended December 31, 2020 and 2019, MRP paid $871 and $2,948 to settle the vested restricted shares that are classified as cash-settled awards under the MRP Share Incentive Plan, respectively. As of December 31, 2020, there were $95 unrecognized compensation costs related to restricted shares under the MRP Share Incentive Plan and the costs are expected to be recognized over a weighted average period of 0.30 year. Melco International Share Incentive Plan On September 6, 2019, certain share-based awards under Melco International’s share option scheme adopted on May 30, 2012 and share purchase scheme adopted on October 18, 2007 (the “Melco International Share Incentive Plan”) were granted by Melco International to an employee of the Company. In accordance with the applicable accounting standards, the share-based compensation expenses related to the grant of share-based awards under Melco International Share Incentive Plan to an employee of the Company, to the extent of services received by the Company, are recognized in the accompanying consolidated statements of operations with a corresponding increase in additional paid-in Share Options During the year ended December 31, 2019, the exercise price for share options granted under the Melco International Share Incentive Plan was determined at the higher of the closing price of Melco International’s ordinary shares trading on the Main Board of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”) on the date of grant and the average closing prices of Melco International’s ordinary shares trading on the Hong Kong Stock Exchange for the five business days immediately preceding the date of grant. These share options became exercisable over a vesting period of 2.8 years. The share options granted expire 10 years from the date of grant. Melco International uses the Black-Scholes valuation model to determine the estimated fair value for each share option granted, with highly subjective assumptions, changes in which could materially affect the estimated fair value. Dividend yield is based on the estimate of annual dividends expected to be paid at the time of grant. Expected volatility is based on the historical volatility of Melco International’s ordinary shares trading on the Hong Kong Stock Exchange. Expected term is based upon the vesting term and the expected term adopted by other publicly traded companies. The risk-free interest rate used for each period presented is based on the Hong Kong Government Bond rate at the time of grant for the period equal to the expected term. The fair value of share options granted under the Melco International Share Incentive Plan was estimated on the date of grant using the following weighted average assumptions as follows: Year Ended Expected dividend yield 0.40 % Expected stock price volatility 43.33 % Risk-free interest rate 1.17 % Expected term (years) 4.9 A summary of the share options activity under the Melco International Share Incentive Plan for the year ended December 31, 2020, is presented as follows: Number of Weighted Weighted Aggregate Outstanding as of January 1, 2020 14,200,000 $ 2.43 Outstanding as of December 31, 2020 14,200,000 $ 2.45 8.69 $ — Fully vested and expected to vest as of December 31, 2020 14,200,000 $ 2.45 8.69 $ — Exercisable as of December 31, 2020 4,734,000 $ 2.45 8.69 $ — There were no share options exercised under the Melco International Share Incentive Plan during the years ended December 31, 2020 and 2019. During the year ended December 31, 2019, the weighted average grant date fair value under the Melco International Share Incentive Plan was $0.90. As of December 31, 2020, there were $5,481 unrecognized compensation costs related to share options under the Melco International Share Incentive Plan and the costs are expected to be recognized over a weighted average period of 1.50 years. Restricted Shares During the year ended December 31, 2019, the grant date fair value for restricted shares granted under the Melco International Share Incentive Plan, with a vesting period of 2.8 years, was determined with reference to the closing price of Melco International’s ordinary shares trading on the Hong Kong Stock Exchange on the date of grant. Under the existing arrangements of the Melco International Share Incentive Plan, a grantee shall satisfy any tax or other liabilities to which he or she may become subject to as a result of his or her participation in the Melco International Share Incentive Plan by his or her own cash. During the year ended December 31, 2020, to enhance administration flexibility of the board of Melco International in the implementation of the Melco International Share Incentive Plan, Melco International revised the rules of the Melco International Share Incentive Plan so as to give authority to Melco International to deduct or withhold a portion of the awards granted to the grantee pursuant to the Melco International Share Incentive Plan (the “Awards”) if Melco International is statutorily required to deduct or withhold an amount to satisfy the tax obligation of any grantee arising from the grant of the Awards (the “Grantee Tax Obligation”), or if a grantee otherwise elects to satisfy his/her Grantee Tax Obligation (which is not statutorily required to be deducted or withheld) and/or exercise cost (in case a grantee exercises his/ her share options granted under the Melco International Share Incentive Plan) by way of deduction or withholding of the relevant portion of his/her Awards (the “Net Settlement Arrangement”). The Net Settlement Arrangement was approved by the board of Melco International on March 31, 2020 and further approved by the shareholders of Melco International for amendments to Melco International Share Incentive Plan on June 5, 2020. On June 30, 2020, an employee of the Company, who was granted certain share-based awards under Melco International Share Incentive Plan on September 6, 2019, elected the Net Settlement Arrangement on certain awards and approximately 2,569,000 restricted shares were modified from equity-settled to cash-settled with all other terms unchanged. A summary of the restricted shares activity under the Melco International Share Incentive Plan for the year ended December 31, 2020, is presented as follows: Number of Weighted Unvested as of January 1, 2020 4,879,000 $ 2.43 Vested (1,627,000 ) 2.45 Unvested as of December 31, 2020 3,252,000 $ 2.45 During the year ended December 31, 2020, the grant date fair value of restricted shares vested under the Melco International Share Incentive Plan was $3,979. There were no restricted shares vested under the Melco International Share Incentive Plan during the year ended December 31, 2019. As of December 31, 2020, there were $4,956 unrecognized compensation costs related to restricted shares under the Melco International Share Incentive Plan and the costs are expected to be recognized over a weighted average period of 1.5 years. The share-based compensation expenses for the Company were recognized as follows: Year Ended December 31, 2020 2019 2018 Share-based compensation expenses: 2011 Share Incentive Plan $ 49,579 $ 28,466 $ 25,284 MRP Share Incentive Plan 671 1,113 (141 ) Melco International Share Incentive Plan 7,021 2,218 — Total share-based compensation expenses 57,271 31,797 25,143 Less: Share-based compensation expenses capitalized in property and equipment (2,879 ) — — Share-based compensation expenses recognized in general and administrative expenses $ 54,392 $ 31,797 $ 25,143

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	18. EMPLOYEE BENEFIT PLANS The Company has obligations to make the required contributions with respect to the defined contribution retirement benefits schemes as set out below. The Company operates defined contribution fund schemes in different jurisdictions, which allow eligible employees to participate in defined contribution plans (the “Defined Contribution Fund Schemes”). The Company either contributes a fixed percentage of the eligible employees’ relevant income, a fixed amount or an amount which matches the contributions of the employees up to a certain percentage of relevant income to the Defined Contribution Fund Schemes. The Company’s contributions to the Defined Contribution Fund Schemes are vested with employees in accordance to vesting schedules, achieving full vesting ranging Employees employed by the Company in different jurisdictions are members of government-managed social security fund schemes (the “Social Security Fund Schemes”), which are operated by the respective governments, if applicable. The Company is required to pay monthly fixed contributions or certain percentages of employee relevant income and meet the minimum mandatory requirements of the respective Social Security Fund Schemes to fund the benefits. During the years ended December 31, 2020, 2019 and 2018, the Company’s contributions into the defined contribution retirement benefits schemes were $30,310, $33,391 and $23,409, respectively.

DISTRIBUTION OF PROFITS

DISTRIBUTION OF PROFITS	12 Months Ended
	Dec. 31, 2020
Text Block [Abstract]
DISTRIBUTION OF PROFITS	19. DISTRIBUTION OF PROFITS All subsidiaries of Melco incorporated in Macau are required to set aside a minimum of 10% to 25% of the entity’s profit after tax to the legal reserve until the balance of the legal reserve reaches a level equivalent to 25% to 50% of the entity’s share capital in accordance with the provisions of the Macau Commercial Code. The legal reserve sets aside an amount from the subsidiaries’ statements of operations and is not available for distribution to the shareholders of the subsidiaries. The appropriation of the legal reserve is recorded in the subsidiaries’ financial statements in the year in which it is approved by the board of directors of the relevant subsidiaries. As of December 31, 2020 and 2019, the aggregate balance of the reserves amounted to $31,524 and $31,524, respectively. The Company’s borrowings, subject to certain exceptions and conditions, contain certain restrictions on paying dividends and other distributions, as defined in the respective indentures governing the relevant senior notes and credit facility agreements, details of which are disclosed in Note 12 under each of the respective borrowings.

DIVIDENDS

DIVIDENDS	12 Months Ended
	Dec. 31, 2020
Text Block [Abstract]
DIVIDENDS	20. DIVIDENDS On Mach 12, 2020, Melco paid a quarterly dividend of $0.05504 per share, and during the year ended December 31, 2020, Melco recorded total amount of quarterly dividend of $79,116 as a distribution against retained earnings. In May 2020, the Company suspended its quarterly dividend program due to the impact of the COVID-19 On March 14, 2019, May 30, 2019, August 15, 2019 and November 22, 2019, Melco paid quarterly dividends of $0.0517, $0.0517, $0.05504 and $0.05504 per share, respectively, and during the year ended December 31, 2019, Melco recorded a total amount of quarterly dividends On March 7, 2018, May 23, 2018, August 15, 2018 and November 29, 2018, Melco paid quarterly dividends of $0.045, $0.045, $0.04835 and $0.04835 per share, respectively, and during the year ended December 31, 2018, Melco recorded a total amount of quarterly dividends paid-in

REGULAR LICENSE, COOPERATION AG

REGULAR LICENSE, COOPERATION AGREEMENT, OPERATING AGREEMENT AND MRP LEASE AGREEMENT FOR CITY OF DREAMS MANILA	12 Months Ended
	Dec. 31, 2020
Text Block [Abstract]
REGULAR LICENSE, COOPERATION AGREEMENT, OPERATING AGREEMENT AND MRP LEASE AGREEMENT FOR CITY OF DREAMS MANILA	21. REGULAR LICENSE, COOPERATION AGREEMENT, OPERATING AGREEMENT AND MRP LEASE AGREEMENT FOR CITY OF DREAMS MANILA Pursuant to a memorandum of agreement entered into by a subsidiary of Melco with the Philippine Parties as described below and certain of its subsidiaries in 2012 for the development of City of Dreams Manila, the relevant parties of the Licensees as described below and certain of its subsidiaries entered into the following agreements which became effective on March 13, 2013 and end on the date of expiry of the Regular License as described below, currently expected to be on (a) Regular License On April 29, 2015, PAGCOR issued a regular casino gaming license, as amended (the “Regular License”) in replacement of a provisional license granted as of March 13, 2013, to the co-licensees (a) Regular License including Melco Resorts Leisure (collectively the “MPHIL Holdings Group”), SM Investments Corporation (“SMIC”), Belle Corporation (“Belle”) and PremiumLeisure and Amusement, Inc. (“PLAI”) (SMIC, Belle and PLAI are collectively referred to as the “Philippine Parties”) for the establishment and operation of City of Dreams Manila, with Melco Resorts Leisure, a co-licensee, co-licensees (b) Cooperation Agreement The Licensees and certain of its subsidiaries entered into a cooperation agreement (the “Cooperation Agreement”) and other related arrangements which govern the rights and obligations of the Licensees. Under the Cooperation Agreement, Melco Resorts Leisure is appointed as the sole and exclusive representative of the Licensees in connection with the Regular License and is designated as the operator to operate and manage City of Dreams Manila. Further details of the commitments under the Cooperation Agreement are included in Note 22(b). (c) Operating Agreement The Licensees entered into an operating agreement (the “Operating Agreement”) which governs the operation and management of City of Dreams Manila by Melco Resorts Leisure. Under the Operating Agreement, Melco Resorts Leisure is appointed as the sole and exclusive operator and manager of City of Dreams Manila, and is responsible for, and has sole discretion (subject to certain exceptions) and control over, all matters relating to the operation and management of City of Dreams Manila (including the gaming and non-gaming non-gaming (d) MRP Lease Agreement Melco Resorts Leisure and Belle entered into a lease agreement, as amended from time to time (the “MRP Lease Agreement”) under which Belle agreed to lease to Melco Resorts Leisure the land and certain of the building structures for City of Dreams Manila. The leased property is used by Melco Resorts Leisure and any of its affiliates exclusively as a hotel, casino and resort complex.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	22. COMMITMENTS AND CONTINGENCIES (a) Capital Commitments As of December 31, 2020, the Company had capital commitments contracted for but not incurred mainly for the construction and acquisition of property and equipment for Studio City, City of Dreams and Cyprus Operations totaling $771,010. (b) Other Commitments Gaming Subconcession — Macau On September 8, 2006, the Macau government granted a gaming subconcession to Melco Resorts Macau to operate its gaming business in Macau. Pursuant to the gaming subconcession agreement, Melco Resorts Macau committed to pay the Macau government the following: i) A fixed annual premium of MOP30,000,000 (equivalent to $3,757). ii) A variable premium depending on the number and type of gaming tables and gaming machines that Melco Resorts Macau operates. The variable premium is calculated as follows: • MOP300,000 (equivalent to $37) per year for each gaming table (subject to a minimum of 100 tables) reserved exclusively for certain kinds of games or to certain players; • MOP150,000 (equivalent to $19) per year for each gaming table (subject to a minimum of 100 tables) not reserved exclusively for certain kinds of games or to certain players; and • MOP1,000 (equivalent to $0.1) per year for each electrical or mechanical gaming machine, including the slot machine. iii) A special gaming tax of an amount equal to 35% of the gross revenues of the gaming business operations on a monthly basis. iv) A sum of 4% of the gross revenues of the gaming business operations to utilities designated by the Macau government (a portion of which must be used for promotion of tourism in Macau) on a monthly basis. v) Melco Resorts Macau must maintain a guarantee issued by a Macau bank in favor of the Macau government in a maximum amount of MOP300,000,000 (equivalent to $37,569) until the 180 th As a result of the bank guarantee issued by the bank to the Macau government as disclosed in Note 22(b)(v) above, a sum of 1.75% per annum Regular License — Philippines Other commitments required by PAGCOR under the Regular License include as follows: • To secure a surety bond in favor of PAGCOR in the amount of PHP100,000,000 (equivalent to $2,082) to ensure prompt and punctual remittances/payments of all license fees. • License fees must be remitted on a monthly basis, in lieu of all taxes with reference to the income component of the gross gaming revenues: (a) 15% high roller tables; (b) 25% non-high • The Licensees are required to remit 2% of casino revenues generated from non-junket (b) Other Commitments Regular License — Philippines - continued • PAGCOR may collect a 5% fee on non-gaming • Grounds for revocation of the Regular License, among others, are as follows: (a) failure to comply with material provisions of this license; (b) failure to remit license fees within 30 days from receipt of notice of default; (c) has become bankrupt or insolvent; and (d) if the debt-to-equity 70:30 debt-to-equity Cooperation Agreement — Philippines Under the terms of the Cooperation Agreement, the Licensees are jointly and severally liable to PAGCOR under the Regular License and each Licensee (indemnifying Licensee) must indemnify the other Licensees for any losses suffered or incurred by that Licensees arising out of, or in connection with, any breach by the indemnifying Licensee of the Regular License. Also, each of the Philippine Parties and MPHIL Holdings Group agree to indemnify the non-breaching Gaming License — Cyprus On June 26, 2017, the Cyprus government granted a gaming license (the “Cyprus License”) to a subsidiary of ICR Cyprus (the “Cyprus Subsidiary”) to develop, operate and maintain an integrated casino i) Annual license fee for the temporary casino and integrated casino ii) Aggregate annual license fee for three operating satellite casinos of EUR2,000,000 (equivalent to $2,459). iii) A casino tax of an amount equal to 15% of the gross gaming revenue on a monthly basis and the rate shall not be increased during the period of exclusivity for the Cyprus License. iv) If the Cyprus Subsidiary fails to open the integrated casino (b) Other Commitments Gaming License — Cyprus - continued un opened past casino Studio City Land Concession — Macau In accordance with the Studio City land concession and the extension granted by the Macau government in November 2019, the land on which Studio City is located must be fully developed by May 31, 2022. (c) Guarantees Except as disclosed in Notes 12 and 22(b), the Company has made the following significant guarantees as of December 31, 2020: • Melco Resorts Macau has issued a promissory note (“Livrança”) of MOP550,000,000 (equivalent to $68,876) to a bank in respect of the bank guarantee issued to the Macau government under its gaming subconcession. • Melco has entered into two deeds of guarantee with third parties amounting to $35,000 to guarantee certain payment obligations of the City of Dreams’ operations. • In October 2013, one of the Melco’s subsidiaries entered into a trade credit facility agreement for HK$200,000,000 (equivalent to $25,797) (“Trade Credit Facility”) with a bank to meet certain payment obligations of the Studio City project. The Trade Credit Facility which matured on • Melco Resorts Leisure has issued a corporate guarantee of PHP100,000,000 (equivalent to $2,082) to a bank in respect of a surety bond issued to PAGCOR as disclosed in Note 22(b) under Regular License. (d) Litigation As of December 31, 2020, the Company was a party to certain legal proceedings which relate to matters arising out of the ordinary course of its business. Management believes that the outcome of such proceedings have no material impacts on the Company’s consolidated financial statements as a whole.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	23. RELATED PARTY TRANSACTIONS During the years ended December 31, 2020, 2019 and 2018, the Company entered into the following significant related party transactions: Year Ended December 31, Related companies Nature of transactions 2020 2019 2018 Transactions with affiliated companies Melco International and its subsidiaries Revenues (services provided by the Company): Shared service fee income for corporate office $ 1,521 $ 1,366 $ 3,044 Management fee income for Cyprus project (1) — 1,056 1,903 Costs and expenses (services provided to the Company): (2) 1,477 2,798 4,339 Management fee expenses for Cyprus Project (1) — 1,316 3,790 Share-based compensation expenses (3) 7,021 2,218 — A joint venture and a subsidiary of MECOM Power and Construction Limited (“MECOM”) (4) Costs and expenses (services provided to the Company): — 10,031 11,723 Purchase of assets: Construction and renovation work performed and recognized as property and equipment — 10,174 13,481 Notes (1) The amount mainly represents management fee income for services provided by the Company to Melco International for management and operation for the project in Cyprus, and such amount was further recharged with mark-up by a subsidiary of Melco International to ICR Cyprus Group. The amount represents the transactions for the period up to the completion of the Acquisition of ICR Cyprus on July 31, 2019 as described in Note 25. (2) The amount mainly represents management fee expenses for the services provided by the senior management of Melco International and for the operation of the office of Melco’s Chief Executive Officer. (3) The amount represents the share-based compensation expenses related to the grant of certain share-based awards under Melco International Share Incentive Plan to an employee of the Company. Further information on the share-based compensation arrangements is included in Note 17. (4) A company in which Mr. Lawrence Yau Lung Ho, Melco’s Chief Executive Officer, had beneficial interest of approximately 20% until December 10, 2019, the date on which Mr. Lawrence Yau Lung Ho disposed his entire beneficial interest in MECOM. The amount in 2019 represents the transactions with a joint venture and a subsidiary of MECOM during the period from January 1, 2019 to December 10, 2019. Other Related Party Transactions On July 31, 2019, the Company acquired from Melco International all of Melco International’s holdings of ordinary shares of ICR Cyprus. Further details of the transaction are included in Note 25. (a) Amounts Due from Affiliated Companies The outstanding balances mainly arising from operating income or prepayment of operating expenses on behalf of the affiliated companies as of December 31, 2020 and 2019 are unsecured, non-interest December 31, 2020 2019 Melco International and its subsidiaries $ 765 $ 442 (b) Amounts Due to Affiliated Companies The outstanding balances mainly arising from operating expenses and expenses paid by affiliated companies on behalf of the Company as of December 31, 2020 and 2019, are unsecured, non-interest December 31, 2020 2019 Subsidiaries of Melco International $ 1,656 $ 1,088 Others 12 435 $ 1,668 $ 1,523

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	24. SEGMENT INFORMATION The Company is principally engaged in the gaming and hospitality business in Asia and Europe and its principal operating and developmental activities occur in three geographic areas: Macau, the Philippines and Cyprus. The Company monitors its operations and evaluates earnings by reviewing the assets and operations of Mocha Clubs, Altira Macau, City of Dreams, Studio City, City of Dreams Manila and Cyprus Operations. Japan development projects, including Japan Ski Resort, and Grand Dragon Casino are included in the Corporate and Other category. The Company’s segment information for total assets and capital expenditures is as follows: Total Assets December 31, 2020 2019 2018 Macau: Mocha Clubs $ 132,304 $ 145,919 $ 120,789 Altira Macau 307,657 429,980 376,655 City of Dreams 3,288,051 3,461,487 3,636,732 Studio City 3,407,884 3,153,721 3,378,646 Sub-total 7,135,896 7,191,107 7,512,822 The Philippines: City of Dreams Manila 613,664 721,205 644,481 Cyprus: Cyprus Operations 326,047 261,106 247,729 Corporate and Other 945,360 1,315,004 716,964 Total consolidated assets $ 9,020,967 $ 9,488,422 $ 9,121,996 Capital Expenditures Year Ended December 31, 2020 2019 2018 Macau: Mocha Clubs $ 3,490 $ 6,620 $ 8,973 Altira Macau 11,519 17,707 24,450 City of Dreams 119,014 134,075 311,441 Studio City 214,625 89,846 73,189 Sub-total 348,648 248,248 418,053 The Philippines: City of Dreams Manila 15,622 58,697 22,572 Cyprus: Cyprus Operations 74,523 39,911 68,238 Corporate and Other 25,460 124,265 54,109 Total capital expenditures $ 464,253 $ 471,121 $ 562,972 The Company’s segment information and reconciliation to net (loss) income attributable to Melco Resorts & Entertainment Limited is as follows: Year Ended December 31, 2020 2019 2018 Operating revenues Macau: Mocha Clubs $ 65,322 $ 117,473 $ 113,432 Altira Macau 108,854 465,056 471,292 City of Dreams 985,619 3,050,491 2,543,649 Studio City 266,522 1,355,321 1,368,400 Sub-total 1,426,317 4,988,341 4,496,773 The Philippines: City of Dreams Manila 224,688 602,479 612,947 Cyprus: Cyprus Operations 51,005 94,731 32,951 Corporate and Other 25,913 51,250 46,271 Total operating revenues $ 1,727,923 $ 5,736,801 $ 5,188,942 Adjusted property EBITDA (1) Macau: Mocha Clubs $ 3,560 $ 23,280 $ 21,490 Altira Macau (58,773 ) 51,470 55,547 City of Dreams (1,326 ) 922,776 756,378 Studio City (79,000 ) 415,098 375,288 Sub-total (135,539 ) 1,412,624 1,208,703 The Philippines: City of Dreams Manila 28,983 247,091 269,199 Cyprus: Cyprus Operations 2,280 29,757 8,461 Total adjusted property EBITDA (104,276 ) 1,689,472 1,486,363 Operating costs and expenses: Payments to the Philippine Parties (12,989 ) (57,428 ) (60,778 ) Pre-opening (1,322 ) (4,847 ) (55,390 ) Development costs (25,616 ) (57,433 ) (23,029 ) Amortization of gaming subconcession (57,411 ) (56,841 ) (56,809 ) Amortization of land use rights (22,886 ) (22,659 ) (22,646 ) Depreciation and amortization (538,233 ) (571,705 ) (488,446 ) Land rent to Belle (3,195 ) (3,061 ) (3,001 ) Share-based compensation (54,392 ) (31,797 ) (25,143 ) Property charges and other (47,223 ) (20,815 ) (29,147 ) Corporate and Other expenses (73,014 ) (115,208 ) (108,527 ) Total operating costs and expenses (836,281 ) (941,794 ) (872,916 ) Operating (loss) income $ (940,557 ) $ 747,678 $ 613,447 Year Ended December 31, 2020 2019 2018 Non-operating Interest income $ 5,134 $ 9,311 $ 5,471 Interest expenses, net of amounts capitalized (340,839 ) (310,102 ) (264,880 ) Other financing costs (7,955 ) (2,738 ) (4,630 ) Foreign exchange losses, net (2,079 ) (10,756 ) (10,497 ) Other (expenses) income, net (150,969 ) (23,914 ) 3,684 Loss on extinguishment of debt (19,952 ) (6,333 ) (3,461 ) Costs associated with debt modification (310 ) (579 ) — Total non-operating (516,970 ) (345,111 ) (274,313 ) (Loss) income before income tax (1,457,527 ) 402,567 339,134 Income tax credit (expense) 2,913 (8,339 ) (238 ) Net (loss) income (1,454,614 ) 394,228 338,896 Net loss (income) attributable to noncontrolling interests 191,122 (21,055 ) 1,403 Net (loss) income attributable to Melco Resorts & Entertainment Limited $ (1,263,492 ) $ 373,173 $ 340,299 Note (1) “Adjusted property EBITDA” is net (loss) income before interest, taxes, depreciation, amortization, pre-opening non-operating The Company’s geographic information for long-lived assets is as follows: Long-lived Assets December 31, 2020 2019 2018 Macau $ 6,054,014 $ 6,207,746 $ 6,287,324 The Philippines 369,664 398,110 381,866 Cyprus 232,374 152,066 124,072 Hong Kong and other foreign countries 64,702 86,726 61,095 Total long-lived assets $ 6,720,754 $ 6,844,648 $ 6,854,357

ACQUISITION OF SUBSIDIARIES

ACQUISITION OF SUBSIDIARIES	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
ACQUISITION OF SUBSIDIARIES	25. ACQUISITION OF SUBSIDIARIES Acquisition of ICR Cyprus On July 31, 2019, the Company completed its acquisition from Melco International of all of Melco International’s holding of ordinary shares of ICR Cyprus, which represented equity interest in ICR Cyprus (the “Acquisition of ICR Cyprus”) for a consideration represented by the issuance The Acquisition of ICR Cyprus is accounted for as a transaction involving a transfer of business between entities under common control in accordance with the applicable accounting standards. Accordingly, the transfer of Melco International’s equity interest in ICR Cyprus to Melco was accounted for at carrying values of net assets transferred and the consideration in excess of the net assets of ICR Cyprus paid-in Acquisition of Japan Ski Resort On November 28, 2019, the Company completed its acquisition of a equity interest in Kabushiki Kaisha Okushiga Kogen Resort (the “Japan Ski Resort”), a company which currently operates a ski resort in Nagano, Japan, for a cash consideration for its future business development in Japan. The acquisition was not material to the Company’s consolidated financial statements. In connection with this acquisition, the Company recorded goodwill which was primarily attributable to the benefit of future market development of the Company and was not deductible for tax purposes. Acquisition-related costs were expensed as incurred and were not significant. The Company accounted for the acquisition as a business combination in accordance with the applicable accounting standards and recorded the assets acquired and liabilities assumed at their respective fair values as of the acquisition date. The Company estimated fair value using level 2 inputs, which are observable inputs for similar assets, and level 3 inputs, which are unobservable inputs, for other acquired assets and assumed liabilities. The allocation of the purchase price was finalized in 2020 with no adjustments to the provisional fair values of the assets acquired and liabilities assumed as of the date of acquisition. For the period from November 28, 2019 through December 31, 2019, Japan Ski Resort’s net revenue, operating income and net income were not material. Pro forma results of operations for the acquisition have not been presented because it is not material to the consolidated results of operations.

CHANGES IN SHAREHOLDINGS OF SUB

CHANGES IN SHAREHOLDINGS OF SUBSIDIARIES	12 Months Ended
	Dec. 31, 2020
Text Block [Abstract]
CHANGES IN SHAREHOLDINGS OF SUBSIDIARIES	26. CHANGES IN SHAREHOLDINGS OF SUBSIDIARIES The Philippine subsidiaries During the year ended December 31, 2018, 20,506,393 restricted shares under the MRP Share Incentive Plan were vested, which decreased Melco’s shareholding in MRP and the Company recognized a decrease of $573 in Melco’s additional paid-in On October 31, 2018, MCO (Philippines) Investments Limited (“MCO Philippines Investments”), a subsidiary of Melco, conducted a voluntary tender offer (the “Tender Offer”) for up to 1,569,786,768 outstanding common shares of MRP held by the public, at a price of PHP7.25 (equivalent to $0.14) per share, for the purpose of increasing and consolidating its shareholding interest in MRP. The Tender Offer expired on November 29, 2018 and 1,338,477,668 outstanding common shares of MRP were tendered and acquired by MCO Philippines Investments at the offer price of PHP7.25 (equivalent to $0.14) per MRP share for a total amount of PHP9,703,963,000 (equivalent to $184,055) and were crossed (the “Cross Transaction”) over the facilities of the PSE on December 10, 2018. An additional 107,475,300 common shares of MRP were acquired by MCO Philippines Investments from December 6, 2018 until December 10, 2018 at a total consideration of PHP779,196,000 (equivalent to $14,779). After the Cross Transaction, MRP’s public ownership level fell below the 10% required threshold over the Minimum Public Ownership Rules of the PSE. As a result, the shares of MRP were automatically suspended for trading by the PSE on December 10, 2018. MRP was automatically delisted from the PSE on June 11, 2019, by reason of its public ownership remaining below the 10% minimum threshold prescribed under the PSE’s Rule on Minimum Public Ownership for a period of more than six months. The above transactions increased Melco’s shareholding in MRP and the Company recognized a decrease of $140,999 in Melco’s additional paid-in During the year ended December 31, 2020 and 2019, certain transactions, which affected Melco’s shareholding in MRP, were carried out and the Company recognized decrease of $62 and $30 in Melco’s additional paid-in As a result of the Reverse Stock Split, only those stockholders of MRP who originally owned 500,000 MRP common shares with a par value of PHP1 (equivalent to $0.02) per share (each an “Original Share”) and in multiples thereof immediately prior to the Reverse Stock Split would now own whole shares (each a “MRP Whole Share”) of stock of MRP. Other holders of the Original Shares could now only hold a fractional share of MRP (“MRP Fractional Share”). To facilitate the elimination of MRP Fractional Shares held by other stockholders of MRP, MPHIL Corporation (“MPHIL”), a subsidiary of Melco, offered to purchase the resulting MRP Fractional Shares at the purchase price to be calculated by multiplying the number of Original Shares represented by the relevant MRP Fractional Shares (which were equal to the number of Original Shares held by the relevant stockholder immediately prior to the Reverse Stock Split) by the price of per Original Share (“Fractional Share Elimination Plan”). A stockholder could also sell any MRP Whole Shares to MPHIL under the Fractional Share Elimination Plan. Any holder of MRP Fractional Shares and/or MRP Whole Shares may accept this offer during the two-year period commencing from June 5, 2020. During the years ended December 31, 2020, 2019 and 2018, the total transfers to noncontrolling interests amounted to $62, $30 and $141,572, respectively, and in relation to transactions as described above. The Company retains its controlling financial interest in MRP before and after the above transactions. Studio City International During the year ended December 31, 2018, Studio City International completed its initial public offering. In connection with its offering, Studio City International issued (i) 28,750,000 ADSs, representing 115,000,000 Class A ordinary shares, (ii) 800,376 Class A ordinary shares to Melco International to effect an assured entitlement distribution, pursuant to a concurrent private placement, and (iii) additional 4,312,500 ADSs, representing 17,250,000 Class A ordinary shares, pursuant to the full exercise by the underwriters of the over-allotment option. The offering decreased Melco’s shareholding in Studio City International and the Company recognized a decrease of $31,845 in Melco’s additional paid-in During July and August 2020, Studio City International announced and paid-in The Company retains its controlling financial interest in Studio City International before and after the above transactions. The schedule below discloses the effects of changes in Melco’s ownership interest in MRP and Studio City International on its equity: Year Ended December 31, 2020 2019 2018 Net (loss) income attributable to Melco Resorts & Entertainment Limited $ (1,263,492 ) $ 373,173 $ 340,299 Transfers (to) from noncontrolling interests: The Philippine subsidiaries Decrease in additional paid-in (16 ) (30 ) — Decrease in additional paid-in (46 ) — (140,999 ) Decrease in additional paid-in — — (573 ) Sub-total (62 ) (30 ) (141,572 ) Studio City International Decrease in additional paid-in — — (31,845 ) Increase in additional paid-in 42 — — Sub-total 42 — (31,845 ) Changes from net (loss) income attributable to Melco Resorts & Entertainment Limited’s shareholders and transfers from noncontrolling interests $ (1,263,512 ) $ 373,143 $ 166,882

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	27. SUBSEQUENT EVENTS (a) On January 4, 2021, Studio City Finance initiated a conditional tender offer (the “Conditional Tender Offer”) to purchase for cash any and all of the outstanding 2019 7.250% Studio City Notes with accrued interest. The Conditional Tender Offer was conditional upon, among other things, Studio City Finance raising sufficient funding from the completion of one or more financing transactions, together with cash on hand, to fund the purchase of validly tendered notes. The Conditional Tender Offer expired on January 11, 2021 with $347,056 aggregate principal amount of the 2019 7.250% Studio City Notes tendered. (b) On January 14, 2021, Studio City Finance issued $750,000 in aggregate principal amount of 5.000% senior notes due January 15, 2029 at an issue price of 100% of the principal amount (the “2021 5.000% Studio City Notes”). The net proceeds from the offering of the 2021 5.000% Studio City Notes were used to fund the Conditional Tender Offer and, on February 7.250 Studio City Notes in aggregate principal amount of $252,944 which remained outstanding following the completion of the Conditional Tender Offer, together with accrued interest. The remaining proceeds will be used to partially fund the capital expenditures of the remaining development project at Studio City and for general corporate purposes. All of the existing subsidiaries of Studio City Finance and any other future restricted subsidiaries as defined in the 2021 5.000% Studio City Notes are guarantors to guarantee the indebtedness under the 2021 5.000% Studio City Notes. (c) On January 21, 2021, Melco Resorts Finance issued an additional $250,000 in aggregate principal amount of the 2019 5.375% Senior Notes at an issue price of 103.25% of the principal amount (the “Additional 2019 5.375% Senior Notes”). The net proceeds from the offering of the Additional 2019 5.375% Senior Notes were used to repay the outstanding principal amount of the 2020 Credit Facilities of HK$1,937,500,000 (equivalent to $249,887), together with accrued interest and associated costs. The Additional 2019 5.375% Senior Notes are consolidated and form a single series with the 2019 5.375% Senior Notes. (d) On March 15, 2021, Studio City Company amended the terms of the 2016 Studio City Credit Facilities, including the extension of the maturity date for the 2016 SC Term Loan Facility and the 2016 SC Revolving Credit Facility from November 30, 2021 to January 15, 2028 (the “Extended Maturity Date”). The 2016 SC Term Loan Facility shall be repaid at the Extended Maturity Date with no interim amortization payments. The 2016 SC Revolving Credit Facility is available up to the date that is one month prior to the 2016 SC Revolving Credit Facility’s Extended Maturity Date. Changes have also been made to the covenants in order to align them with those of certain other financings at Studio City Finance, including amending the threshold sizes and measurement dates of the covenants. Accordingly, the outstanding principal amount of the 2016 SC Term Loan Facility, and the related deferred financing costs and restricted cash as of December 31, 2020 were classified as non-current liabilities or assets in the accompanying consolidated balance sheets. (e) As a result of the disruptions caused by the COVID-19 pandemic, on March 22, 2021, Melco Resorts Leisure and Belle entered into a supplemental agreement to the MRP Lease Agreement (“MRP Lease Amendment Agreement”) to make certain adjustments to the rental payments paid and payable by Melco Resorts Leisure for 2020 and 2021. Accordingly, Melco Resorts Leisure is entitled to rent concession of approximately PHP2,060,000,000 (equivalent to $42,900) for 2020 and a maximum rent concession of approximately PHP1,670,000,000 (equivalent to $34,702) for 2021 which will be recognized in 2021 and over the remaining terms of the lease until July 2033 in accordance with the applicable accounting standards. Additionally, on the same date, Melco Resorts Leisure and PLAI entered into a supplemental agreement to the Operating Agreement where the monthly payments paid or payable by Melco Resorts Leisure from 2019 to 2022 have been adjuste d (f) In February 2021, a subsidiary of ICR Cyprus entered into a land sale agreement and an electricity transmission substation construction work agreement (collectively the “EAC Agreements”) with Electricity Authority Cyprus (“EAC”). Pursuant to the EAC Agreements, the subsidiary will sell and EAC will purchase a parcel of freehold land (the “Land”) for a for a (g) On March 26, 2021, the Corporate Recovery and Tax Incentives for Enterprises (“CREATE”) was signed by President Duterte of the Philippines as Republic Act (RA) No. 11534, which was published in the Official Gazette of the Philippines on March 27, 2021 and is set to take effect 15 days after such publication in the Official Gazette. As of March 31, 2021, the implementing rules and regulations have not been finalized. Management determined that this is a non-adjusting event for 2020 financial reporting purposes. Management identified that the main change of CREATE is the reduction of minimum corporate income tax in the Philippines from 2% to 1% starting July 1, 2020 until June 30, 2023 and the corporate income tax rate in the Philippines from 30% to 25% starting July 1, 2020. Management believes that these changes in the tax rates will not have a significant impact to the Company’s consolidated financial statements as at December 31, 2020 as Melco Resorts Leisure which operates City of Dreams Manila is in a net loss and taxable loss position as at December 31, 2020.

ADDITIONAL INFORMATION - FINANC

ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY	12 Months Ended
	Dec. 31, 2020
ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY	ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY CONDENSED BALANCE SHEETS (In thousands of U.S. dollars, except share and per share data) December 31, 2020 2019 ASSETS Current assets: Cash and cash equivalents $ 36,213 $ 48,645 Amounts due from affiliated companies 150,651 149,580 Prepaid expenses and other current assets 4,044 6,244 Total current assets 190,908 204,469 Investments in subsidiaries 1,917,223 3,147,298 Deferred tax assets 6,015 3,557 Total assets $ 2,114,146 $ 3,355,324 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accrued expenses and other current liabilities $ 20,488 $ 10,240 Income tax payable 931 931 Amounts due to an affiliated companies 174,989 91,542 Total current liabilities 196,408 102,713 Other long-term liabilities 3,419 5,130 Advances from affiliated companies 812,198 808,513 Total liabilities 1,012,025 916,356 Shareholders’ equity: Ordinary shares, par value $0.01; 7,300,000,000 shares authorized; 1,456,547,942 and 1,456,547,942 shares issued; 1,430,965,312 and 1,437,328,096 shares outstanding, respectively 14,565 14,565 Treasury shares, at cost; 25,582,630 and 19,219,846 shares, respectively (121,028 ) (90,585 ) Additional paid-in 3,207,312 3,178,579 Accumulated other comprehensive losses (11,332 ) (18,803 ) Accumulated losses (1,987,396 ) (644,788 ) Total shareholders’ equity 1,102,121 2,438,968 Total liabilities and shareholders’ equity $ 2,114,146 $ 3,355,324
Parent Company [Member]
ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY	ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY CONDENSED BALANCE SHEETS (In thousands of U.S. dollars, except share and per share data) December 31, 2020 2019 ASSETS Current assets: Cash and cash equivalents $ 36,213 $ 48,645 Amounts due from affiliated companies 150,651 149,580 Prepaid expenses and other current assets 4,044 6,244 Total current assets 190,908 204,469 Investments in subsidiaries 1,917,223 3,147,298 Deferred tax assets 6,015 3,557 Total assets $ 2,114,146 $ 3,355,324 LIABILITIES AND SHAREHOLDERS’ EQUITY Current liabilities: Accrued expenses and other current liabilities $ 20,488 $ 10,240 Income tax payable 931 931 Amounts due to an affiliated companies 174,989 91,542 Total current liabilities 196,408 102,713 Other long-term liabilities 3,419 5,130 Advances from affiliated companies 812,198 808,513 Total liabilities 1,012,025 916,356 Shareholders’ equity: Ordinary shares, par value $0.01; 7,300,000,000 shares authorized; 1,456,547,942 and 1,456,547,942 shares issued; 1,430,965,312 and 1,437,328,096 shares outstanding, respectively 14,565 14,565 Treasury shares, at cost; 25,582,630 and 19,219,846 shares, respectively (121,028 ) (90,585 ) Additional paid-in 3,207,312 3,178,579 Accumulated other comprehensive losses (11,332 ) (18,803 ) Accumulated losses (1,987,396 ) (644,788 ) Total shareholders’ equity 1,102,121 2,438,968 Total liabilities and shareholders’ equity $ 2,114,146 $ 3,355,324 ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY CONDENSED STATEMENTS OF OPERATIONS (In thousands of U.S. dollars) Year Ended December 31, 2020 2019 2018 Operating revenues $ 14,614 $ 18,381 $ 18,267 Operating costs and expenses: General and administrative (60,688 ) (47,689 ) (41,204 ) Development costs (30,242 ) (50,795 ) (24,095 ) Property charges and other (3,782 ) — — Total operating costs and expenses (94,712 ) (98,484 ) (65,299 ) Operating loss (80,098 ) (80,103 ) (47,032 ) Non-operating Interest income 58 305 129 Foreign exchange losses, net (4,871 ) (1,983 ) (6,958 ) Other income, net 14,530 11,627 10,636 Share of results of subsidiaries (1,195,569 ) 442,325 378,951 Total non-operating (1,185,852 ) 452,274 382,758 (Loss) income before income tax (1,265,950 ) 372,171 335,726 Income tax credit 2,458 1,002 4,573 Net (loss) income $ (1,263,492 ) $ 373,173 $ 340,299 ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY CONDENSED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (In thousands of U.S. dollars) Year Ended December 31, 2020 2019 2018 Net (loss) income $ (1,263,492 ) $ 373,173 $ 340,299 Other comprehensive income (loss): Foreign currency translation adjustments, before and after tax 7,471 40,529 (33,872 ) Other comprehensive income (loss) 7,471 40,529 (33,872 ) Total comprehensive (loss) income $ (1,256,021 ) $ 413,702 $ 306,427 ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY CONDENSED STATEMENTS OF CASH FLOWS (In thousands of U.S. dollars) Year Ended December 31, 2020 2019 2018 Cash flows from operating activities: Net cash provided by operating activities $ 389,520 $ 413,044 $ 156,698 Cash flow from an investing activity: Advances to subsidiaries (282,605 ) (100,065 ) (14,404 ) Cash used in an investing activity (282,605 ) (100,065 ) (14,404 ) Cash flow s Dividends paid (79,116 ) (300,995 ) (271,531 ) Repurchase of shares (44,977 ) — (655,652 ) Proceeds from exercise of share options 1,061 2,700 5,018 Advances from subsidiaries 3,685 24,281 784,232 Net cash used in financing activities (119,347 ) (274,014 ) (137,933 ) Net (decrease) increase in cash and cash equivalents (12,432 ) 38,965 4,361 Cash and cash equivalents at beginning of year 48,645 9,680 5,319 Cash and cash equivalents at end of year $ 36,213 $ 48,645 $ 9,680 Supplemental cash flow disclosures: Cash refund for income taxes $ — $ 638 $ — Repurchase of shares included in accrued expenses and other current liabilities $ — $ — $ 1,670

SCHEDULE 1 FINANCIAL INFORMATIO

SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY ADDITIONAL INFORMATION	12 Months Ended
	Dec. 31, 2020
Parent Company [Member]
SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY ADDITIONAL INFORMATION	ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY NOTES TO FINANCIAL STATEMENT SCHEDULE 1 (In thousands of U.S. dollars) 1. Schedule 1 has been provided pursuant to the requirements of Rule 12-04(a) 4-08(e)(3) S-X, $ 2. Basis of Presentation The accompanying condensed financial information has been prepared using the same accounting policies as set out the Company’s consolidated financial statements except that the parent company has used the equity method to account for its investments in subsidiaries.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	(a) Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). The accompanying consolidated financial statements include the accounts of Melco and its subsidiaries. All intercompany accounts and transactions have been eliminated on consolidation.
Principles of Consolidation	The accompanying consolidated financial statements include the accounts of Melco and its subsidiaries. All intercompany accounts and transactions have been eliminated on consolidation.
Use of Estimates	(b) Use of Estimates The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities, revenues and expenses and related disclosures of contingent assets and liabilities. These estimates and judgments are based on historical information, information that is currently available to the Company and on various other assumptions that the Company believes to be reasonable under the circumstances. Accordingly, actual results could differ from those estimates.
Fair Value of Financial Instruments	(c) Fair Value of Financial Instruments Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e. the “exit price”) in an orderly transaction between market participants at the measurement date. The Company estimated the fair values using appropriate valuation methodologies and market information available as of the balance sheet date.
Cash and Cash Equivalents	(d) Cash and Cash Equivalents Cash and cash equivalents consist of cash and highly liquid investments with original maturities of three months or less. Cash equivalents are placed with financial institutions with high-credit ratings and quality.
Investment Securities	(e) Investment Securities Investment securities consist of investments in mutual funds that mainly invest in bonds and fixed interest securities and investments in equity interests in a public company on which the Company has no significant influence. The investment securities are considered as marketable equity securities. Management determines the appropriate classification of its investment securities at the time of purchase and re-evaluates non-current Investment securities are measured at fair value with changes in fair values recognized through net income in the accompanying consolidated statements of operations.
Restricted Cash	(f) Restricted Cash The current portion of restricted cash represents cash deposited into bank accounts which are restricted as to withdrawal and use and the Company expects these funds will be released or utilized in accordance with the terms of the respective agreements within the next twelve months, while the non-current
Accounts Receivable and Credit Risk	(g) Accounts Receivable and Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of casino receivables. The Company issues credit in the form of markers to approved casino customers following investigations of creditworthiness. Credit is also given to its gaming promoters in Macau and the Philippines, which receivables can be offset against commissions payable and any other value items held by the Company to the respective customers and for which the Company intends to set off when required. As of December 31, 2020 and 2019, a substantial portion of the Company’s markers were due from customers and gaming promoters residing in foreign countries. Business or economic conditions, the legal enforceability of gaming debts, or other significant events in foreign countries could affect the collectability of receivables from customers and gaming promoters residing in these countries. Accounts receivable, including casino, hotel and other receivables, are typically non-interest dollar amount, based upon the age of the account, the customer’s financial condition as well as management’s experience with collection trends of the customers, current economic and business conditions, and management’s expectations of future economic and business conditions and forecasts. Management believes that as of December 31, 2020 and 2019, no significant concentrations of credit risk existed for which an allowance had not already been recorded.
Inventories	(h) Inventories Inventories consist of retail merchandise, food and beverage items and certain operating supplies, which are stated at the lower of cost or net realizable value. Cost is calculated using the first-in, first-out,
Property and Equipment	(i) Property and Equipment Property and equipment are stated at cost, net of accumulated depreciation and amortization, and impairment losses, if any. Gains or losses on dispositions of property and equipment are included in the accompanying consolidated statements of operations. Major additions, renewals and betterments are capitalized, while maintenance and repairs are expensed as incurred. During the construction and development stage of the Company’s integrated resort facilities, direct and incremental costs related to the design and construction, including costs under the construction contracts, duties and tariffs, equipment installation, shipping costs, payroll and payroll-benefit related costs, applicable portions of interest, including amortization of deferred financing costs, are capitalized in property and equipment. The capitalization of such costs begins when the construction and development of a project starts and ceases once the construction is substantially completed or development activity is substantially suspended. Depreciation and amortization expense related to capitalized construction costs and other property and equipment is recognized from the time each asset is placed in service. This may occur at different stages as integrated resort facilities are completed and opened. Property and equipment are depreciated and amortized over the following estimated useful lives on a straight-line basis: Freehold land Not depreciated Buildings 4 to 40 years Transportation 5 to 10 years Leasehold improvements 3 to 10 years or over the lease term, whichever is shorter Furniture, fixtures and equipment 2 to 15 years Plant and gaming machinery 3 to 5 years
Capitalized Interest	(j) Capitalized Interest Interest, including amortization of deferred financing costs, associated with major development and construction projects is capitalized and included in the cost of the projects. The capitalization of interest ceases when the project is substantially completed or the development activity is substantially suspended. The amount to be capitalized is determined by applying the weighted average interest rate of the Company’s outstanding borrowings to the average amount of accumulated qualifying capital
Gaming Subconcession	(k) Gaming Subconcession The deemed cost of the gaming subconcession in Macau was capitalized based on the fair value of the gaming subconcession agreement as of the date of acquisition of Melco Resorts (Macau) Limited (“Melco Resorts Macau”), a subsidiary of Melco and the holder of the gaming subconcession in Macau, in 2006, and amortized over the term of agreement which is due to expire in June 2022 on a straight-line basis.
Internal-Use Software	(l) Internal-Use Costs incurred to develop software for internal use are capitalized and amortized over the estimated useful lives of the software of 3 to 15 years on a straight-line basis. The capitalization of such costs begins during the application development stage of the software project and ceases once the software project is substantially complete and ready for its intended use. Costs of specified upgrades and enhancements to the internal-use
Goodwill and Intangible Assets	(m) Goodwill and Intangible Assets Goodwill represents the excess of the acquisition cost over the fair value of tangible and identifiable intangible net assets of any business acquired. Goodwill is not amortized, but is tested for impairment at the reporting unit level on an annual basis, and between annual tests when circumstances indicate that the carrying value of goodwill may not be recoverable. Intangible assets other than goodwill are amortized over their useful lives unless their lives are determined to be indefinite in which case they are not amortized. Intangible assets are carried at cost, less accumulated amortization. The Company’s finite-lived intangible assets consist of the gaming subconcession, internal-use When performing the impairment analysis for goodwill and intangible assets with indefinite lives, the Company may first perform a qualitative assessment to determine whether it is more likely than not that the asset is impaired. If it is determined that it is more likely than not that the asset is impaired after assessing the qualitative factors, the Company then performs a quantitative impairment test. To perform a quantitative impairment test of intangible assets with indefinite lives, the Company performs an assessment that consists of a comparison of the fair values of the intangible assets with indefinite lives with their carrying amounts. An impairment loss is recognized in an amount equal to the excess of the carrying amounts over the fair values of the intangible assets with indefinite lives. On January 1, 2020, the Company adopted the accounting standards update on goodwill impairment test on a prospective basis. To perform a quantitative impairment test of goodwill, the Company performs an assessment that consists of a compari s During the year ended December 31, 2020, an the as a COVID-19 No were e .
Impairment of Long-lived Assets (Other Than Goodwill)	(n) Impairment of Long-lived Assets (Other Than Goodwill) The Company evaluates the long-lived assets with finite lives to be held and used for impairment whenever indicators of impairment exist. The Company then compares the estimated future cash flows of the assets, on an undiscounted basis, to the carrying values of the assets. Estimating future cash flows of the assets involves significant assumptions, including future revenue growth rates and gross margin. If the undiscounted cash flows exceed the carrying values, no impairments are indicated. If the undiscounted cash flows do not exceed the carrying values, then an impairment charge is recorded based on the fair values of the assets, typically measured using a discounted cash flow model. If an asset is still under development, future cash flows include remaining construction costs. During the years ended December 31, 2020, 2019 and 2018, impairment losses of $8,127, $9,590 and nil were recognized, mainly due to reconfigurations and renovations at the Company’s operating properties, and of which $6,293 was provided for the year ended December 31, 2019 for a parcel of freehold land due to a significant decrease in its market value as of December 31, 2019. The fair value of the freehold land was calculated by using level 3 inputs based on direct comparison method. The impairment losses are included in property charges and other in the accompanying consolidated statements of operations. As a result of the COVID-19 pandemic as disclosed in Note 1(b), the Company evaluated its long-lived assets for recoverability as of December 31, 2020 and concluded no impairment existed at that date as the estimated undiscounted future cash flows exceeded their carrying values .
Deferred Financing Costs	(o) Deferred Financing Costs Direct and incremental costs incurred in obtaining loans or in connection with the issuance of long-term debt are capitalized and amortized to interest expenses over the terms of the related debt agreements using the effective interest method. Deferred financing costs incurred in connection with the issuance of revolving credit facilities are included in other assets either current or non-current
Land Use Rights	(p) Land Use Rights Land use rights represent the upfront land premium paid for the use of land held under operating leases, which are recorded at cost less accumulated amortization. Amortization is provided over the estimated term of the land use rights of 40 years on a straight-line basis.
Leases	(q) Leases On January 1, 2019, the Company adopted the guidance on leases under the accounting standards update (as subsequently amended) issued in February 2016 by the Financial Accounting Standards Board (“FASB”), which amends various aspects of existing accounting guidance for leases, using the modified retrospective method without restating comparative information. The Company elected the package of practical expedients, which allows the Company not to reassess (1) whether any expired or existing contracts as of the adoption date are or contain a lease, (2) lease classification for any expired or existing leases as of the adoption date; and (3) initial direct costs for any existing leases as of the adoption date. As a result of adoption, the Company recognized $154,459 of operating lease right-of-use right-of-use At the inception of the contract or upon modification, the Company will perform an assessment as to whether the contract is a lease or contains a lease. A contract is or contains a lease if the contract conveys the right to control the use of an identified asset for a period in exchange for consideration. A lessee has control of an identified asset if it has both the right to direct the use of the asset and the right to receive substantially all of the economic benefits from the use of the asset. Finance and operating lease right-of-use right-of-use The Company’s lease contracts have lease and non-lease non-lease non-lease
Revenue Recognition	(r) Revenue Recognition On January 1, 2018, the Company adopted the guidance under the accounting standards update (as subsequently amended) issued in May 2014 by the FASB, which outlined a single comprehensive model for entities to use in accounting for revenues arising from contracts with customers and superseded most current revenue recognition guidance, including industry-specific guidance (“New Revenue Standard”), using the modified retrospective method. The cumulative effect of the adoption of this guidance did not have a material impact on the accumulated losses as of January 1, 2018. In addition, the adoption of this guidance did not have a material impact on net income, comprehensive income, basic and diluted net income attributable to Melco Resorts & Entertainment Limited per share amounts for the year ended December 31, 2018 and net assets as of December 31, 2018. The Company’s revenues from contracts with customers consist of casino wagers, sales of rooms, food and beverage, entertainment, retail and other goods and services. Gross casino revenues are measured by the aggregate net difference between gaming wins and losses. The Company accounts for its casino wagering transactions on a portfolio basis versus an individual basis as all wagers have similar characteristics. Commissions rebated to customers either directly or indirectly through gaming promoters and cash discounts and other cash incentives earned by customers are recorded as a reduction of casino revenues. In addition to the wagers, casino transactions typically include performance obligations related to complimentary goods or services provided to incentivize future gaming or in exchange for incentives or points earned under the Company’s non-discretionary For casino transactions that include complimentary goods or services provided by the Company to incentivize future gaming, the Company allocates the standalone selling price of each good or service to the appropriate revenue type based on the good or service provided. Complimentary goods or services that are provided under the Company’s control and discretion and supplied by third parties are recorded as operating expenses. The Company operates different non-discretionary After allocating amounts to the complimentary goods or services provided and to the points earned under the Loyalty Programs, the residual amount is recorded as casino revenue when the wagers are settled. The Company follows the accounting standards for reporting revenue gross as a principal versus net as an agent, when accounting for operations of certain hotels and Grand Dragon Casino and concluded that it is the controlling entity and is the principal to these arrangements. For the operations of certain hotels, the Company is the owner of the hotel properties, and the hotel managers operate the hotels under certain management agreements providing management services to the Company, and the Company receives all rewards and takes substantial risks associated with the hotels’ business; it is the principal and the transactions are, therefore, recognized on a gross basis. For the operations of Grand Dragon Casino, given the Company operates the casino under a right to use agreement with the owner of the casino premises and has full responsibility for the casino operations in accordance with its gaming subconcession, it is the principal and casino revenue is, therefore, recognized on a gross basis. The transaction prices for rooms, food and beverage, entertainment, retail and other goods and services are the net amounts collected from customers for such goods and services that are recorded as revenues when the goods are provided, services are performed or events are held. Service taxes and other applicable taxes collected by the Company are excluded from revenues. Advance deposits on rooms and advance ticket sales are recorded as customer deposits until services are provided to the customers. Revenues from contracts with multiple goods or services provided by the Company are allocated to each good or service based on its relative standalone selling price. Minimum operating and right to use fees representing lease revenues, adjusted for contractual base fees and operating fee escalations, are included in other revenues and are recognized over the terms of the related agreements on a straight-line basis. Contract and Contract-Related Liabilities In providing goods and services to its customers, there may be a timing difference between cash receipts from customers and recognition of revenues, resulting in a contract or contract-related liability. The Company primarily has three types of liabilities related to contracts with customers: (1) outstanding gaming chips and tokens, which represent the amounts owed in exchange for gaming chips held by a customer, (2) loyalty program liabilities, which represent the deferred allocation of revenues relating to incentives earned from the Loyalty Programs, and (3) advance customer deposits and ticket sales, which represent casino front money deposits that are funds deposited by customers before gaming play occurs and advance payments on goods and services yet to be provided such as advance ticket sales and deposits on rooms and convention space. These liabilities are generally expected to be recognized as revenues within one year of being purchased, earned or deposited and are recorded as accrued expenses and other current liabilities on the accompanying consolidated balance sheets. Decreases in these balances generally represent the recognition of revenues and increases in the balances represent additional chips and tokens held by customers, increases in unredeemed incentives relating to the Loyalty Programs and additional deposits made by customers. The following table summarizes the activities related to contract and contract-related liabilities: December 31, December 31, Increase/ December 31, December 31, Increase/ Outstanding gaming chips and tokens $ 205,780 $ 473,330 $ (267,550 ) $ 473,330 $ 638,702 $ (165,372 ) Loyalty program liabilities 29,175 39,591 (10,416 ) 39,591 46,729 (7,138 ) Advance customer deposits and ticket sales 277,867 255,884 21,983 255,884 386,869 (130,985 ) $ 512,822 $ 768,805 $ (255,983 ) $ 768,805 $ 1,072,300 $ (303,495 )
Gaming Taxes and License Fees	(s) Gaming Taxes and License Fees The Company is subject to taxes and license fees based on gross gaming revenue and other metrics in the jurisdictions in which it operates, subject to applicable jurisdictional adjustments. These gaming taxes and license fees are mainly recognized as casino expense in the accompanying consolidated statements of operations. These taxes and license fees totaled $754,733, $2,550,755 and $2,372,144 for the years ended December 31, 2020, 2019 and 2018, respectively.
Pre-opening Costs	(t) Pre-opening Pre-opening start-up pre-opening pre-opening one-off
Development Costs	(u) Development Costs Development costs include the costs associated with the Company’s evaluation and pursuit of new business opportunities, which are expensed as incurred.
Advertising and Promotional Costs	(v) Advertising and Promotional Costs The Company expenses advertising and promotional costs the first time the advertising takes place or as incurred. Advertising and promotional costs included in the accompanying consolidated statements of operations were $34,061, $89,376 and $111,633 for the years ended December 31, 2020, 2019 and 2018, respectively.
Foreign Currency Transactions and Translations	(w) Foreign Currency Transactions and Translations All transactions in currencies other than functional currencies of Melco and its subsidiaries during the year are remeasured at the exchange rates prevailing on the respective transaction dates. Monetary assets and liabilities existing at the balance sheet date denominated in currencies other than functional currencies are remeasured at the exchange rates existing on that date. Exchange differences are recorded in the accompanying consolidated statements of operations. The functional currency of Melco is the United States dollar (“$” or “US$”) and the functional currency of most of Melco’s foreign subsidiaries is the local currency in which the subsidiary operates. All assets and liabilities are translated at the rates of exchange prevailing at the balance sheet date and all income and expense items are translated at the average rates of exchange over the year. All exchange differences arising from the translation of foreign subsidiaries’ financial statements are recorded as a component of other comprehensive income (loss).
Comprehensive (Loss) Income and Accumulated Other Comprehensive Losses	(x) Comprehensive (Loss) Income and Accumulated Other Comprehensive Losses Comprehensive (loss) income includes net (loss) income and all other non-shareholder As of December 31, 2020 and 2019, the Company’s accumulated other comprehensive losses consisted solely of foreign currency translation adjustments, net of tax and noncontrolling interests.
Share-based Compensation Expenses	(y) Share-based Compensation Expenses The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award and recognizes that cost over the service period. Compensation is attributed to the periods of associated service and such expense is recognized over the vesting period of the awards on a straight-line basis. Forfeitures are recognized when they occur. Further information on the Company’s share-based compensation arrangements is included in Note 17.
Income Tax	(z) Income Tax The Company is subject to income taxes in Macau, Hong Kong, the Philippines, Cyprus and other jurisdictions where it operates. Deferred income taxes are recognized for all significant temporary differences between the tax basis of assets and liabilities and their reported amounts in the accompanying consolidated financial statements. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. The Company’s income tax returns are subject to examination by tax authorities in the jurisdictions where it operates. The Company assesses potentially unfavorable outcomes of such examinations based on accounting standards for uncertain income taxes. These accounting standards utilize a two-step
Net (Loss) Income Attributable to Melco Resorts & Entertainment Limited Per Share	(aa) Net (Loss) Income Attributable to Melco Resorts & Entertainment Limited Per Share Basic net (loss) income attributable to Melco Resorts & Entertainment Limited per share is calculated by dividing the net (loss) income attributable to Melco Resorts & Entertainment Limited by the weighted average number of ordinary shares outstanding during the year. Diluted net (loss) income attributable to Melco Resorts & Entertainment Limited per share is calculated by dividing the net (loss) income attributable to Melco Resorts & Entertainment Limited by the weighted average number of ordinary shares outstanding during the year adjusted to include the potentially dilutive effect of outstanding share-based awards. The weighted average number of ordinary and ordinary equivalent shares used in the calculation of basic and diluted net (loss) income attributable to Melco Resorts & Entertainment Limited per share consisted of the following: Year Ended December 31, 2020 2019 2018 Weighted average number of ordinary shares outstanding used in the calculation of basic net (loss) income attributable to Melco Resorts & Entertainment Limited per share 1,432,052,735 1,436,569,083 1,506,551,789 Incremental weighted average number of ordinary shares from assumed vesting of restricted shares and exercise of share options using the treasury stock method — 6,878,339 9,858,273 Weighted average number of ordinary shares outstanding used in the calculation of diluted net (loss) income attributable to Melco Resorts & Entertainment Limited per share 1,432,052,735 1,443,447,422 1,516,410,062 Anti-dilutive share options and restricted shares excluded from the calculation of diluted net (loss) income attributable to Melco Resorts & Entertainment Limited per share 40,618,693 8,053,109 7,200,837
Recent Changes in Accounting Standards	(ab) Recent Changes in Accounting Standards Newly Adopted Accounting Pronouncements In June 2016, the FASB issued an accounting standards update which replaces the incurred loss impairment methodology in current U.S. GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The guidance is applied using a modified retrospective approach through a cumulative-effect adjustment to retained earnings as of the effective date. The Company adopted this new guidance on January 1, 2020 and this adoption did not have a material impact on its consolidated financial statements. In January 2017, the FASB issued an accounting standards update when performing the impairment analysis for goodwill which eliminates step two from the goodwill impairment test and instead requires an entity to recognize an impairment charge for the amount by which the carrying value exceeds the reporting unit’s fair value, limited to the total amount of goodwill allocated to that reporting unit. Accordingly, the adoption of this guidance would only impact the Company’s consolidated financial statements in situations where an impairment of a reporting unit’s assets is determined and there is a measurement of the impairment charge. The Company adopted this new guidance on January 1, 2020 on a prospective basis and applied the guidance for its goodwill impairment test during the year ended December 31, 2020. In August 2018, the FASB issued an accounting standards update which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use internal-use Recent Accounting Pronouncement Not Yet Adopted In December 2019, the FASB issued an accounting standards update which simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in Accounting Standards Codification 740, Income Taxes

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Schedule of Estimated Useful Lives of Property and Equipment	Property and equipment are depreciated and amortized over the following estimated useful lives on a straight-line basis: Freehold land Not depreciated Buildings 4 to 40 years Transportation 5 to 10 years Leasehold improvements 3 to 10 years or over the lease term, whichever is shorter Furniture, fixtures and equipment 2 to 15 years Plant and gaming machinery 3 to 5 years
Summary of Primary Liabilities Associated With Customer Contracts	The following table summarizes the activities related to contract and contract-related liabilities: December 31, December 31, Increase/ December 31, December 31, Increase/ Outstanding gaming chips and tokens $ 205,780 $ 473,330 $ (267,550 ) $ 473,330 $ 638,702 $ (165,372 ) Loyalty program liabilities 29,175 39,591 (10,416 ) 39,591 46,729 (7,138 ) Advance customer deposits and ticket sales 277,867 255,884 21,983 255,884 386,869 (130,985 ) $ 512,822 $ 768,805 $ (255,983 ) $ 768,805 $ 1,072,300 $ (303,495 )
Weighted Average Number of Ordinary and Ordinary Equivalent Shares Used in Calculation of Basic and Diluted Net Income (Loss)	The weighted average number of ordinary and ordinary equivalent shares used in the calculation of basic and diluted net (loss) income attributable to Melco Resorts & Entertainment Limited per share consisted of the following: Year Ended December 31, 2020 2019 2018 Weighted average number of ordinary shares outstanding used in the calculation of basic net (loss) income attributable to Melco Resorts & Entertainment Limited per share 1,432,052,735 1,436,569,083 1,506,551,789 Incremental weighted average number of ordinary shares from assumed vesting of restricted shares and exercise of share options using the treasury stock method — 6,878,339 9,858,273 Weighted average number of ordinary shares outstanding used in the calculation of diluted net (loss) income attributable to Melco Resorts & Entertainment Limited per share 1,432,052,735 1,443,447,422 1,516,410,062 Anti-dilutive share options and restricted shares excluded from the calculation of diluted net (loss) income attributable to Melco Resorts & Entertainment Limited per share 40,618,693 8,053,109 7,200,837

CASH, CASH EQUIVALENTS AND RE_2

CASH, CASH EQUIVALENTS AND RESTRICTED CASH (Tables)	12 Months Ended
	Dec. 31, 2020
Cash and Cash Equivalents [Abstract]
Schedule of Cash Cash Equivalents And Restricted Cash	Cash, cash equivalents and restricted cash reported within the accompanying consolidated statements of cash flows consisted of the following: December 31, 2020 2019 Cash and cash equivalents $ 1,755,351 $ 1,394,982 Current portion of restricted cash 13 37,390 Non-current 406 130 Total cash, cash equivalents and restricted cash $ 1,755,770 $ 1,432,502

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of Investment Securities	The components of (losses) gains on marketable equity securities were as follows Year Ended December 31, 2020 2019 2018 Net losses recognized on market equity securities $ (165,440 ) $ (41,737 ) $ (111 ) Less: Net losses (gains) recognized on marketable equity securities sold during the year 165,440 (3,085 ) 1,345 Unrealized (losses) gains recognized on marketable equity securities still held at the reporting date $ — $ (44,822 ) $ 1,234

ACCOUNTS RECEIVABLE, NET (Table

ACCOUNTS RECEIVABLE, NET (Tables)	12 Months Ended
	Dec. 31, 2020
Receivables [Abstract]
Components of Accounts Receivable, Net	Components of accounts receivable, net are as follows: December 31, 2020 2019 Casino $ 460,863 $ 538,911 Hotel 1,011 4,369 Other 1,537 2,949 Sub-total 463,411 546,229 Less: allowances for credit losses (1) (333,792 ) (258,019 ) 129,619 288,210 Non-current — (3,877 ) Current portion $ 129,619 $ 284,333 Note (1) As of December 31, 2020 and 2019, the allowances for credit losses of $16,517 and $25,026 are recorded as a reduction of the long-term casino accounts receivables, which are included in long-term prepayments, deposits and other assets in the accompanying consolidated balance sheets, respectively.
Movement in Allowances for Credit Losses	Movement in the allowances for credit losses are as follows: Year Ended December 31, 2020 2019 2018 Balance at beginning of year $ 258,019 $ 228,344 $ 234,485 Provision (reversal) for credit losses 131,845 32,888 (2,479 ) Write-offs (57,868 ) (4,460 ) (2,115 ) Effect of exchange rate 1,796 1,247 (1,547 ) Balance at end of year $ 333,792 $ 258,019 $ 228,344

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	12 Months Ended
	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Components of Property and Equipment, Net	December 31, 2020 2019 Cost Buildings $ 6,326,744 $ 6,288,083 Furniture, fixtures and equipment 1,065,280 1,071,341 Leasehold improvements 1,175,678 1,049,332 Plant and gaming machinery 276,499 265,856 Transportation 219,646 218,952 Construction in progress 399,041 143,330 Freehold land 86,603 77,876 Sub-total 9,549,491 9,114,770 Less: accumulated depreciation and amortization (3,868,223 ) (3,390,861 ) Property and equipment, net $ 5,681,268 $ 5,723,909

GAMING SUBCONCESSION, NET (Tabl

GAMING SUBCONCESSION, NET (Tables)	12 Months Ended
	Dec. 31, 2020
Text Block [Abstract]
Schedule of Gaming Subconcession, Net	December 31, 2020 2019 Deemed cost $ 903,160 $ 898,959 Less: accumulated amortization (818,497 ) (757,519 ) Gaming subconcession, net $ 84,663 $ 141,440

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS, NET (Tables)	12 Months Ended
	Dec. 31, 2020
Text Block [Abstract]
Summary of Changes in the Carrying Amounts of Goodwill	(a) Goodwill The changes in the carrying amounts of goodwill by segment are as follows: Mocha Clubs (1) Corporate (2) Total Balance at January 1, 2018 $ 81,915 $ — $ 81,915 Foreign currency translations (539 ) — (539 ) Balance at December 31, 2018 81,376 — 81,376 Acquisition — 13,731 13,731 Foreign currency translations 444 69 513 Balance at December 31, 2019 81,820 13,800 95,620 Impairment — (13,867 ) (13,867 ) Foreign currency translations 383 67 450 Balance at December 31, 2020 $ 82,203 $ — $ 82,203 Notes (1) The amount represents goodwill which arose from the acquisition of Mocha Slot Group Limited and its subsidiaries by the Company in 2006. (2) The amount represents goodwill which
Summary of Intangible Assets, Net	(b) Intangible Assets, Net Intangible assets, net consisted of the following: December 31, 2020 2019 Indefinite-lived intangible assets: Trademarks of Mocha Clubs $ 4,235 $ 4,215 Total indefinite-lived intangible assets 4,235 4,215 Finite-lived intangible assets: Internal-use 51,882 30,353 Less: accumulated amortization (9,110 ) (2,940 ) 42,772 27,413 Proprietary rights 12,013 — Less: accumulated amortization (187 ) — 11,826 — Total finite-lived intangible assets 54,598 27,413 Total intangible assets, net $ 58,833 $ 31,628
Summary of Estimated Future Amortization Expenses of Finite-Lived Intangible Assets	As of December 31, 2020, the estimated future amortization expenses of finite-lived intangible assets (other than gaming subconcession) are as follows: Year ending December 31, 2021 $ 10,825 2022 9,984 2023 6,904 2024 3,167 2025 3,166 Over 2025 20,552 $ 54,598

LONG-TERM PREPAYMENTS, DEPOSI_2

LONG-TERM PREPAYMENTS, DEPOSITS AND OTHER ASSETS (Tables)	12 Months Ended
	Dec. 31, 2020
Text Block [Abstract]
Long-Term Prepayments, Deposits and Other Assets	Long-term prepayments, deposits and other assets consisted of the following: December 31, 2020 2019 Entertainment production costs $ 68,804 $ 76,795 Less: accumulated amortization (68,804 ) (72,230 ) Entertainment production costs, net — 4,565 Advance payments for construction costs 59,564 32,911 Other long-term assets and other 58,209 53,177 Long-term prepayments 49,648 408 Deferred financing costs, net 44,033 885 Deferred rent assets 34,311 37,835 Other deposits 13,984 16,709 Input value-added tax, net 13,172 12,469 Deposits for acquisition of property and equipment 11,687 13,642 Long-term casino accounts receivables, net of allowances for credit losses of $16,517 and $25,026 — 3,877 Long-term prepayments, deposits and other assets $ 284,608 $ 176,478

LAND USE RIGHTS, NET (Tables)

LAND USE RIGHTS, NET (Tables)	12 Months Ended
	Dec. 31, 2020
Text Block [Abstract]
Schedule of Land Use Rights, Net	December 31, 2020 2019 Altira Macau $ 146,989 $ 146,306 City of Dreams 400,981 399,115 Studio City 655,858 652,807 1,203,828 1,198,228 Less: accumulated amortization (482,254 ) (457,220 ) Land use rights, net $ 721,574 $ 741,008

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2020
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	December 31, 2020 2019 Advance customer deposits and ticket sales $ 277,867 $ 255,884 Outstanding gaming chips and tokens 205,780 473,330 Staff cost accruals 99,612 169,622 Interest expenses payable 96,491 49,298 Gaming tax and license fee accruals 87,321 217,773 Operating expense and other accruals and liabilities 73,177 117,338 Construction cost payables 57,200 28,583 Property and equipment payables 48,769 69,097 Loyalty program liabilities 29,175 39,591 Dividends payable 8,473 — $ 983,865 $ 1,420,516

LONG-TERM DEBT, NET (Tables)

LONG-TERM DEBT, NET (Tables)	12 Months Ended
	Dec. 31, 2020
Debt Disclosure [Abstract]
Summary of Long-Term Debt, Net	Long-term debt, net consisted of the following: December 31, 2020 2019 Senior Notes 2017 4.875% Senior Notes, due 2025 (net of unamortized deferred financing costs and original issue premiums of $16,583 and $19,827, respectively) $ 983,417 $ 980,173 2019 5.250% Senior Notes, due 2026 (net of unamortized deferred financing costs of $4,529 and $5,948, respectively) 495,471 494,052 2019 5.625% Senior Notes, due 2027 (net of unamortized deferred financing costs of $5,686 and $7,298, respectively) 594,314 592,702 2019 5.375% Senior Notes, due 2029 (net of unamortized deferred financing costs of $7,991 and $8,992, respectively) 892,009 891,008 2020 5.750% Senior Notes, due 2028 (net of unamortized deferred financing costs and original issue premiums of $4,519) 845,481 — 2019 7.250% Studio City Notes, due 2024 (net of unamortized deferred financing costs of $6,165 and $7,829, respectively) 593,835 592,171 2020 6.000% SC Notes, due 2025 (net of unamortized deferred financing costs of $4,566) 495,434 — 2020 6.500% SC Notes, due 2028 (net of unamortized deferred financing costs of $4,738) 495,262 — 2016 7.250% SC Secured Notes, due 2021 (net of unamortized deferred financing costs of $7,211) — 842,789 Credit Facilities 2015 Credit Facilities (net of unamortized deferred financing costs of nil (1) 129 1,108 2020 Credit Facilities (2) 249,910 — 2016 Studio City Credit Facilities (3) 129 128 5,645,391 4,394,131 Current portion of long-term debt (net of unamortized deferred financing costs of — (146 ) $ 5,645,391 $ 4,393,985 Notes (1) As of December 31, 2020 and 2019, the unamortized deferred financing costs related to the 2015 Revolving Credit Facility of the 2015 Credit Facilities of nil are included in prepaid expenses and other current assets in the accompanying consolidated balance sheets, respectively. (2) As of December 31, 2020, the unamortized deferred financing costs related to the revolving credit facility of the 2020 Credit Facilities of $43,593 are included in long-term prepayments, deposits and other assets in the accompanying consolidated balance sheet. (3) As of December 31, 2020 and 2019, the unamortized deferred financing costs related to the 2016 SC Revolving Credit Facility of the 2016 Studio City Credit Facilities of $440
Scheduled Maturities of Long-Term Debt (Excluding Unamortized Deferred Financing Costs and Original Issue Premium)	Scheduled maturities of the long-term debt (excluding unamortized deferred financing costs and original issue premiums) as of December 31, 2020 are as follows: Year ending December 31, 2021 $ — 2022 129 2023 — 2024 600,000 2025 1,749,910 Over 2025 3,350,129 $ 5,700,168

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Schedule of components of lease cost	The components of lease costs Year Ended 2020 2019 Operating lease costs Amortization of land use rights $ 22,886 $ 22,659 Operating lease costs 31,039 39,681 Short-term lease costs 842 1,569 Variable lease costs (5,565 ) 9,595 Finance lease cost s Amortization of right-of-use 12,836 12,326 Interest cost 41,550 39,696 Total lease costs $ 103,588 $ 125,526
Disclosure of other information related to lease term and discount rate	Other information related to lease term and discount rate is as follows: December 31, 2020 2019 Weighted average remaining lease term Operating leases 19.8 18.3 Finance leases 12.5 13.5 Weighted average discount rate Operating leases 5.76 % 5.82 % Finance leases 13.49 % 13.49 %
Schedule of maturities of lease liabilities	Maturities of lease liabilities as of December 31, 2020 are as follows: Operating Leases Finance Leases Year ending December 31, 2021 $ 27,729 $ 83,447 2022 14,999 50,931 2023 9,669 52,119 2024 6,961 53,523 2025 6,454 53,442 Over 2025 95,222 405,285 Total future minimum lease payments 161,034 698,747 Less: amount representing interest (58,101 ) (348,520 ) Present value of future minimum lease payments 102,933 350,227 Current portion (27,066 ) (80,004 ) Non-current $ 75,867 $ 270,223
Summary of future minimum fees, excluding the contingent fees to be received under non-cancellable operating leases	Future minimum fees, excluding the contingent fees to be received under non-cancellable Year ending December 31, 2021 $ 50,349 2022 47,953 2023 44,032 2024 44,772 2025 46,245 Over 202 5 24,626 $ 257,977

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Summary of (Loss) Income before Income Tax	(Loss) income before income tax consisted of: Year Ended December 31, 2020 2019 2018 Macau operations $ (772,988 ) $ 665,591 $ 522,390 Hong Kong operations (342,715 ) (72,676 ) (48,385 ) Philippine operations (102,990 ) 61,768 83,758 Cyprus operations (11,190 ) 16,432 (14,268 ) Other jurisdictions operations (227,644 ) (268,548 ) (204,361 ) (Loss) income before income tax $ (1,457,527 ) $ 402,567 $ 339,134
Summary of Income Tax (Credit) Expense	The income tax (credit) expense consisted of: Year Ended December 31, 2020 2019 2018 Income tax expense - current: Macau Complementary Tax $ 6,402 $ 1,130 $ 676 Lump sum in lieu of Macau Complementary Tax on dividends 2,367 2,345 2,341 Hong Kong Profits Tax 38 64 46 Philippine Corporate Income Tax 59 5 2 Cyprus Corporate Income Tax — 1,699 — Income tax in other jurisdictions 2,182 1,867 406 Sub-total 11,048 7,110 3,471 (Over) under provision of income taxes in prior years: Macau Complementary Tax (544 ) 38 793 Hong Kong Profits Tax (2 ) (3 ) (2,303 ) Philippine Corporate Income Tax (5 ) (1 ) (6 ) Cyprus Corporate Income Tax 58 — — Income tax in other jurisdictions 482 326 45 Sub-total (11 ) 360 (1,471 ) Income tax (credit) expense - deferred: Macau Complementary Tax (9,762 ) (900 ) (629 ) Hong Kong Profits Tax (26 ) (341 ) (2,554 ) Philippine Corporate Income Tax (3,774 ) 2,283 1,164 Cyprus Corporate Income Tax (64 ) (606 ) 683 Income tax in other jurisdictions (324 ) 433 (426 ) Sub-total (13,950 ) 869 (1,762 ) Total income tax (credit) expense $ (2,913 ) $ 8,339 $ 238
Schedule of Reconciliation of Income Tax (Credit) Expense from (Loss) Income Before Income Tax	A reconciliation of the income tax (credit) expense from (loss) income before income tax per the accompanying consolidated statements of operations is as follows: Year Ended December 31, 2020 2019 2018 (Loss) income before income tax $ (1,457,527 ) $ 402,567 $ 339,134 Macau Complementary Tax rate 12 % 12 % 12 % Income tax (credit) expense at Macau Complementary Tax rate (174,903 ) 48,308 40,696 Lump sum in lieu of Macau Complementary Tax on dividends 2,367 2,345 2,341 Effect of different tax rates of subsidiaries operating in other jurisdictions (36,938 ) 2,178 7,067 (Over) under provision in prior years (11 ) 360 (1,471 ) Effect of income for which no income tax expense is payable (8,171 ) (9,763 ) (3,035 ) Effect of expenses for which no income tax benefit is receivable 107,037 54,856 38,468 Effect of profits generated by gaming operations exempted — (165,947 ) (157,367 ) Effect of tax losses that cannot be carried forward 32,605 — — Changes in valuation allowances 32,166 30,473 12,838 Expired tax losses 42,935 45,529 60,701 Income tax (credit) expense $ (2,913 ) $ 8,339 $ 238
Schedule of Net Deferred Tax Liabilities	The net deferred tax liabilities as of December 31, 2020 and 2019 consisted of the following: December 31, 2020 2019 Deferred tax assets Net operating losses carried forward $ 220,287 $ 167,293 Depreciation and amortization 64,588 49,985 Lease liabilities 48,184 104,404 Others 4,974 9,373 Sub-total 338,033 331,055 Valuation allowances (284,656 ) (257,965 ) Total deferred tax assets 53,377 73,090 Deferred tax liabilities Right-of-use (28,942 ) (63,011 ) Land use rights (47,690 ) (46,430 ) Intangible assets (508 ) (506 ) Unrealized capital allowances (7,553 ) (7,242 ) Others (8,260 ) (9,020 ) Total deferred tax liabilities (92,953 ) (126,209 ) Deferred tax liabilities, net $ (39,576 ) $ (53,119 )
Schedule of Unrecognized tax benefits	A reconciliation of the beginning and ending amounts of unrecognized tax benefits is presented as follows: Year Ended December 31, 2020 2019 2018 At beginning of year $ 7,504 $ 4,929 $ 2,582 Additions based on tax positions related to current year 8,057 2,575 2,347 Reductions due to expiry of the statute of limitations (429 ) — — At end of year $ 15,132 $ 7,504 $ 4,929

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2020
2006 Share Incentive Plan [Member]
Summary of Share Options Activity	A summary of the share options activity under the 2006 Share Incentive Plan for the year ended December 31, 2020, is presented as follows: Number of Weighted Weighted Aggregate Outstanding as of January 1, 2020 2,151,432 $ 1.72 Exercised (267,141 ) 1.49 Outstanding as of December 31, 2020 1,884,291 $ 1.75 0.22 $ 8,347 Fully vested and exercisable as of December 31, 2020 1,884,291 $ 1.75 0.22 $ 8,347 The following information is provided for share options under the 2006 Share Incentive Plan: Year Ended December 31, 2020 2019 2018 Proceeds from the exercise of share options $ 397 $ 44 $ 1,195 Intrinsic value of share options exercised $ 747 $ 920 $ 37,239
2011 Share Incentive Plan [Member]
Summary of Share Options Activity	A summary of the share options activity under the 2011 Share Incentive Plan for the year ended December 31, 2020, is presented as follows: Number of Weighted Weighted Aggregate Outstanding as of January 1, 2020 19,776,978 $ 7.01 Granted 12,159,207 4.13 Exercised (122,040 ) 5.44 Forfeited or expired (2,967,918 ) 5.82 Outstanding as of December 31, 2020 28,846,227 $ 5.93 7.25 $ 28,312 Fully vested and expected to vest as of December 31, 2020 28,846,227 $ 5.93 7.25 $ 28,312 Exercisable as of December 31, 2020 13,002,909 $ 6.21 5.38 $ 6,999 The following information is provided for share options under the 2011 Share Incentive Plan: Year Ended December 31, 2020 2019 2018 Weighted average grant date fair value $ 1.21 $ 2.59 $ 3.09 Proceeds from the exercise of share options $ 664 $ 2,798 $ 3,823 Intrinsic value of share options exercised $ 129 $ 1,201 $ 3,744
Summary of Assumptions Used to Estimate Fair Values of Stock Options	The fair values of share options granted under the 2011 Share Incentive Plan were estimated on the dates of grant using the following weighted average assumptions as follows: Year Ended December 31, 2020 2019 2018 Expected dividend yield 3.10 % 2.75 % 2.04 % Expected stock price volatility 43.50 % 41.81 % 40.17 % Risk-free interest rate 0.43 % 2.34 % 2.62 % Expected term (years) 5.6 5.6 5.56
Summary of Restricted Shares Activity	A summary of the restricted shares activity under the 2011 Share Incentive Plan for the year ended December 31, 2020, is presented as follows: Number of Weighted Unvested as of January 1, 2020 7,105,176 $ 7.94 Granted 9,497,823 4.17 Vested (2,822,235 ) 7.20 Forfeited (424,134 ) 6.62 Unvested as of December 31, 2020 13,356,630 $ 5.46 The following information is provided for restricted shares under the 2011 Share Incentive Plan: Year Ended December 31, 2020 2019 2018 Weighted average grant date fair value $ 4.17 $ 8.14 $ 9.50 Grant date fair value of restricted shares vested $ 20,317 $ 8,825 $ 13,952
MRP Share Incentive Plan [Member]
Summary of Share Options Activity	A summary of the share options activity under the MRP Share Incentive Plan for the year ended December 31, 2020, is presented as follows: Number of Weighted Cash-settled Outstanding as of January 1, 2020 7,383,408 Vested (6,357,751 ) Outstanding as of December 31, 2020 1,025,657 7.25 The following information is provided for share options under the MRP Share Incentive Plan: Year Ended December 31, 2020 2019 2018 Weighted average grant date fair value $ — $ — $ 0.07
Summary of Assumptions Used to Estimate Fair Values of Stock Options	The fair value of share options granted under the MRP Share Incentive Plan was estimated on the date of grant using the following weighted average assumptions as follows: Year Ended Expected dividend yield — Expected stock price volatility 45.00 % Risk-free interest rate 5.69 % Expected term (years) 5.6
Summary of Restricted Shares Activity	A summary of the restricted shares activity under the MRP Share Incentive Plan for the year ended December 31, 2020, is presented as follows: Number of Weighted Cash-settled Unvested as of January 1, 2020 8,235,686 $ 0.16 Vested (5,922,184 ) 0.17 Unvested as of December 31, 2020 2,313,502 $ 0.15 The following information is provided for restricted shares under the MRP Share Incentive Plan: Year Ended December 31, 2020 2019 2018 Weighted average grant date fair value $ — $ — $ 0.14 Grant date fair value of restricted shares vested $ 1,030 $ 2,026 $ 1,747
Melco International Share Incentive Plan [Member]
Summary of Share Options Activity	A summary of the share options activity under the Melco International Share Incentive Plan for the year ended December 31, 2020, is presented as follows: Number of Weighted Weighted Aggregate Outstanding as of January 1, 2020 14,200,000 $ 2.43 Outstanding as of December 31, 2020 14,200,000 $ 2.45 8.69 $ — Fully vested and expected to vest as of December 31, 2020 14,200,000 $ 2.45 8.69 $ — Exercisable as of December 31, 2020 4,734,000 $ 2.45 8.69 $ —
Summary of Assumptions Used to Estimate Fair Values of Stock Options	The fair value of share options granted under the Melco International Share Incentive Plan was estimated on the date of grant using the following weighted average assumptions as follows: Year Ended Expected dividend yield 0.40 % Expected stock price volatility 43.33 % Risk-free interest rate 1.17 % Expected term (years) 4.9
Summary of Restricted Shares Activity	A summary of the restricted shares activity under the Melco International Share Incentive Plan for the year ended December 31, 2020, is presented as follows: Number of Weighted Unvested as of January 1, 2020 4,879,000 $ 2.43 Vested (1,627,000 ) 2.45 Unvested as of December 31, 2020 3,252,000 $ 2.45
Impact of Share Options and Restricted Shares	The share-based compensation expenses for the Company were recognized as follows: Year Ended December 31, 2020 2019 2018 Share-based compensation expenses: 2011 Share Incentive Plan $ 49,579 $ 28,466 $ 25,284 MRP Share Incentive Plan 671 1,113 (141 ) Melco International Share Incentive Plan 7,021 2,218 — Total share-based compensation expenses 57,271 31,797 25,143 Less: Share-based compensation expenses capitalized in property and equipment (2,879 ) — — Share-based compensation expenses recognized in general and administrative expenses $ 54,392 $ 31,797 $ 25,143
MRP SIP Retirement Arrangement {Member]
Summary of Assumptions Used to Estimate Fair Values of Stock Options	The fair values of the outstanding share options under the MRP SIP Retirement Arrangements at modification date were estimated using the following weighted average assumptions as follows: Expected dividend yield — Expected stock price volatility 45.00 % Risk-free interest rate 5.81 % Expected term (years) 5.7

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Schedule of Significant Related Party Transactions	During the years ended December 31, 2020, 2019 and 2018, the Company entered into the following significant related party transactions: Year Ended December 31, Related companies Nature of transactions 2020 2019 2018 Transactions with affiliated companies Melco International and its subsidiaries Revenues (services provided by the Company): Shared service fee income for corporate office $ 1,521 $ 1,366 $ 3,044 Management fee income for Cyprus project (1) — 1,056 1,903 Costs and expenses (services provided to the Company): (2) 1,477 2,798 4,339 Management fee expenses for Cyprus Project (1) — 1,316 3,790 Share-based compensation expenses (3) 7,021 2,218 — A joint venture and a subsidiary of MECOM Power and Construction Limited (“MECOM”) (4) Costs and expenses (services provided to the Company): — 10,031 11,723 Purchase of assets: Construction and renovation work performed and recognized as property and equipment — 10,174 13,481 Notes (1) The amount mainly represents management fee income for services provided by the Company to Melco International for management and operation for the project in Cyprus, and such amount was further recharged with mark-up by a subsidiary of Melco International to ICR Cyprus Group. The amount represents the transactions for the period up to the completion of the Acquisition of ICR Cyprus on July 31, 2019 as described in Note 25. (2) The amount mainly represents management fee expenses for the services provided by the senior management of Melco International and for the operation of the office of Melco’s Chief Executive Officer. (3) The amount represents the share-based compensation expenses related to the grant of certain share-based awards under Melco International Share Incentive Plan to an employee of the Company. Further information on the share-based compensation arrangements is included in Note 17. (4) A company in which Mr. Lawrence Yau Lung Ho, Melco’s Chief Executive Officer, had beneficial interest of approximately 20% until December 10, 2019, the date on which Mr. Lawrence Yau Lung Ho disposed his entire beneficial interest in MECOM. The amount in 2019 represents the transactions with a joint venture and a subsidiary of MECOM during the period from January 1, 2019 to December 10, 2019.
Schedule of Outstanding Balances Arising from Operating Income or Prepayment of Operating Expenses	December 31, 2020 2019 Melco International and its subsidiaries $ 765 $ 442
Schedule of Current Portion of Amounts Due to Affiliated Companies Arising from Construction and Renovation Works Performed	December 31, 2020 2019 Subsidiaries of Melco International $ 1,656 $ 1,088 Others 12 435 $ 1,668 $ 1,523

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Total Assets	Total Assets December 31, 2020 2019 2018 Macau: Mocha Clubs $ 132,304 $ 145,919 $ 120,789 Altira Macau 307,657 429,980 376,655 City of Dreams 3,288,051 3,461,487 3,636,732 Studio City 3,407,884 3,153,721 3,378,646 Sub-total 7,135,896 7,191,107 7,512,822 The Philippines: City of Dreams Manila 613,664 721,205 644,481 Cyprus: Cyprus Operations 326,047 261,106 247,729 Corporate and Other 945,360 1,315,004 716,964 Total consolidated assets $ 9,020,967 $ 9,488,422 $ 9,121,996
Capital Expenditures	Capital Expenditures Year Ended December 31, 2020 2019 2018 Macau: Mocha Clubs $ 3,490 $ 6,620 $ 8,973 Altira Macau 11,519 17,707 24,450 City of Dreams 119,014 134,075 311,441 Studio City 214,625 89,846 73,189 Sub-total 348,648 248,248 418,053 The Philippines: City of Dreams Manila 15,622 58,697 22,572 Cyprus: Cyprus Operations 74,523 39,911 68,238 Corporate and Other 25,460 124,265 54,109 Total capital expenditures $ 464,253 $ 471,121 $ 562,972
Results of Operations of Segments	The Company’s segment information and reconciliation to net (loss) income attributable to Melco Resorts & Entertainment Limited is as follows: Year Ended December 31, 2020 2019 2018 Operating revenues Macau: Mocha Clubs $ 65,322 $ 117,473 $ 113,432 Altira Macau 108,854 465,056 471,292 City of Dreams 985,619 3,050,491 2,543,649 Studio City 266,522 1,355,321 1,368,400 Sub-total 1,426,317 4,988,341 4,496,773 The Philippines: City of Dreams Manila 224,688 602,479 612,947 Cyprus: Cyprus Operations 51,005 94,731 32,951 Corporate and Other 25,913 51,250 46,271 Total operating revenues $ 1,727,923 $ 5,736,801 $ 5,188,942 Adjusted property EBITDA (1) Macau: Mocha Clubs $ 3,560 $ 23,280 $ 21,490 Altira Macau (58,773 ) 51,470 55,547 City of Dreams (1,326 ) 922,776 756,378 Studio City (79,000 ) 415,098 375,288 Sub-total (135,539 ) 1,412,624 1,208,703 The Philippines: City of Dreams Manila 28,983 247,091 269,199 Cyprus: Cyprus Operations 2,280 29,757 8,461 Total adjusted property EBITDA (104,276 ) 1,689,472 1,486,363 Operating costs and expenses: Payments to the Philippine Parties (12,989 ) (57,428 ) (60,778 ) Pre-opening (1,322 ) (4,847 ) (55,390 ) Development costs (25,616 ) (57,433 ) (23,029 ) Amortization of gaming subconcession (57,411 ) (56,841 ) (56,809 ) Amortization of land use rights (22,886 ) (22,659 ) (22,646 ) Depreciation and amortization (538,233 ) (571,705 ) (488,446 ) Land rent to Belle (3,195 ) (3,061 ) (3,001 ) Share-based compensation (54,392 ) (31,797 ) (25,143 ) Property charges and other (47,223 ) (20,815 ) (29,147 ) Corporate and Other expenses (73,014 ) (115,208 ) (108,527 ) Total operating costs and expenses (836,281 ) (941,794 ) (872,916 ) Operating (loss) income $ (940,557 ) $ 747,678 $ 613,447 Year Ended December 31, 2020 2019 2018 Non-operating Interest income $ 5,134 $ 9,311 $ 5,471 Interest expenses, net of amounts capitalized (340,839 ) (310,102 ) (264,880 ) Other financing costs (7,955 ) (2,738 ) (4,630 ) Foreign exchange losses, net (2,079 ) (10,756 ) (10,497 ) Other (expenses) income, net (150,969 ) (23,914 ) 3,684 Loss on extinguishment of debt (19,952 ) (6,333 ) (3,461 ) Costs associated with debt modification (310 ) (579 ) — Total non-operating (516,970 ) (345,111 ) (274,313 ) (Loss) income before income tax (1,457,527 ) 402,567 339,134 Income tax credit (expense) 2,913 (8,339 ) (238 ) Net (loss) income (1,454,614 ) 394,228 338,896 Net loss (income) attributable to noncontrolling interests 191,122 (21,055 ) 1,403 Net (loss) income attributable to Melco Resorts & Entertainment Limited $ (1,263,492 ) $ 373,173 $ 340,299 Note (1) “Adjusted property EBITDA” is net (loss) income before interest, taxes, depreciation, amortization, pre-opening non-operating
Long-Lived Assets	Long-lived Assets December 31, 2020 2019 2018 Macau $ 6,054,014 $ 6,207,746 $ 6,287,324 The Philippines 369,664 398,110 381,866 Cyprus 232,374 152,066 124,072 Hong Kong and other foreign countries 64,702 86,726 61,095 Total long-lived assets $ 6,720,754 $ 6,844,648 $ 6,854,357

CHANGES IN SHAREHOLDINGS OF S_2

CHANGES IN SHAREHOLDINGS OF SUBSIDIARIES (Tables)	12 Months Ended
	Dec. 31, 2020
Text Block [Abstract]
Effects of Changes in Company's Ownership Interest	Year Ended December 31, 2020 2019 2018 Net (loss) income attributable to Melco Resorts & Entertainment Limited $ (1,263,492 ) $ 373,173 $ 340,299 Transfers (to) from noncontrolling interests: The Philippine subsidiaries Decrease in additional paid-in (16 ) (30 ) — Decrease in additional paid-in (46 ) — (140,999 ) Decrease in additional paid-in — — (573 ) Sub-total (62 ) (30 ) (141,572 ) Studio City International Decrease in additional paid-in — — (31,845 ) Increase in additional paid-in 42 — — Sub-total 42 — (31,845 ) Changes from net (loss) income attributable to Melco Resorts & Entertainment Limited’s shareholders and transfers from noncontrolling interests $ (1,263,512 ) $ 373,143 $ 166,882

ORGANIZATION AND BUSINESS - Add

ORGANIZATION AND BUSINESS - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Cash and cash equivalents	$ 1,755,351	$ 1,394,982
Borrowing capacity	$ 1,744,637

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Schedule of Estimated Useful Lives of Property and Equipment (Detail)	12 Months Ended
	Dec. 31, 2020
Freehold land [Member]
Property and Equipment [Line Items]
Estimated Useful Lives	Not depreciated
Buildings [Member] | Minimum [Member]
Property and Equipment [Line Items]
Estimated Useful Lives	4 years
Buildings [Member] | Maximum [Member]
Property and Equipment [Line Items]
Estimated Useful Lives	40 years
Transportation [Member] | Minimum [Member]
Property and Equipment [Line Items]
Estimated Useful Lives	5 years
Transportation [Member] | Maximum [Member]
Property and Equipment [Line Items]
Estimated Useful Lives	10 years
Leasehold improvements [Member]
Property and Equipment [Line Items]
Estimated Useful Lives	3 to 10 years or over the lease term, whichever is shorter
Furniture, fixtures and equipment [Member] | Minimum [Member]
Property and Equipment [Line Items]
Estimated Useful Lives	2 years
Furniture, fixtures and equipment [Member] | Maximum [Member]
Property and Equipment [Line Items]
Estimated Useful Lives	15 years
Plant and gaming machinery [Member] | Minimum [Member]
Property and Equipment [Line Items]
Estimated Useful Lives	3 years
Plant and gaming machinery [Member] | Maximum [Member]
Property and Equipment [Line Items]
Estimated Useful Lives	5 years

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2019
Schedule Of Significant Accounting Policies [Line Items]
Interest expenses incurred	$ 352,673	$ 310,102	$ 285,947
Interest expenses capitalized	11,834	0	21,067
Impairment loss recognized on goodwill and intangible assets	13,867	0	0
Impairment loss	8,127	9,590	0
Gaming taxes and license fees	754,733	2,550,755	2,372,144
Advertising and promotional expenses	34,061	89,376	$ 111,633
Operating lease right-of-use assets	92,213	111,043		$ 154,459
Operating lease liabilities	$ 102,933			$ 170,833
Amortization method	costs over 10 years or the respective estimated useful lives of the entertainment shows, whichever is shorter.
Japan Ski Resort [Member]
Schedule Of Significant Accounting Policies [Line Items]
Impairment loss recognized on goodwill and intangible assets	$ 13,867
Freehold land [Member]
Schedule Of Significant Accounting Policies [Line Items]
Impairment loss		$ 6,293
Internal-use Software [Member] | Minimum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful life	3 years
Internal-use Software [Member] | Maximum [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful life	15 years
Land Use Rights [Member]
Schedule Of Significant Accounting Policies [Line Items]
Estimated useful life	40 years
Amortization method	straight-line basis

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of contracts and contract-related liabilities with customers (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Contract with Customer Liability	$ 512,822	$ 768,805	$ 1,072,300
Increase/ (Decrease), Contract with Customer Liability	(255,983)	(303,495)
Outstanding Gaming Chips And Tokens [Member]
Disaggregation of Revenue [Line Items]
Contract with Customer Liability	205,780	473,330	638,702
Increase/ (Decrease), Contract with Customer Liability	(267,550)	(165,372)
Loyalty Program Liabilities [Member]
Disaggregation of Revenue [Line Items]
Contract with Customer Liability	29,175	39,591	46,729
Increase/ (Decrease), Contract with Customer Liability	(10,416)	(7,138)
Advanced Customer Deposits And Ticket Sales [Member]
Disaggregation of Revenue [Line Items]
Contract with Customer Liability	277,867	255,884	$ 386,869
Increase/ (Decrease), Contract with Customer Liability	$ 21,983	$ (130,985)

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Weighted Average Number of Ordinary and Ordinary Equivalent Shares Used in Calculation of Basic and Diluted Net Income (Detail) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Weighted average number of ordinary shares outstanding used in the calculation of basic net (loss) income attributable to Melco Resorts & Entertainment Limited per share	1,432,052,735	1,436,569,083	1,506,551,789
Incremental weighted average number of ordinary shares from assumed vesting of restricted shares and exercise of share options using the treasury stock method	0	6,878,339	9,858,273
Weighted average number of ordinary shares outstanding used in the calculation of diluted net (loss) income attributable to Melco Resorts & Entertainment Limited per share	1,432,052,735	1,443,447,422	1,516,410,062
Anti-dilutive share options and restricted shares excluded from the calculation of diluted net (loss) income attributable to Melco Resorts & Entertainment Limited per share	40,618,693	8,053,109	7,200,837

CASH, CASH EQUIVALENTS AND RE_3

CASH, CASH EQUIVALENTS AND RESTRICTED CASH - Schedule of Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 1,755,351	$ 1,394,982
Current portion of restricted cash	13	37,390
Non-current portion of restricted cash	406	130
Total cash, cash equivalents and restricted cash	$ 1,755,770	$ 1,432,502	$ 1,520,589	$ 1,482,482

INVESTMENT SECURITIES - Additio

INVESTMENT SECURITIES - Additional Information (Detail) $ / shares in Units, $ in Thousands, $ in Thousands	Apr. 29, 2020USD ($)	Apr. 29, 2020AUD ($)$ / shares	May 30, 2019$ / shares	May 30, 2019shares	Dec. 31, 2020USD ($)	Feb. 06, 2020	Dec. 31, 2019USD ($)	Dec. 31, 2019AUD ($)	Jun. 06, 2019USD ($)	Jun. 06, 2019AUD ($)
Investments in Equity Securities [Line Items]
Investment in equity securities, shares acquired, price per share | $ / shares			$ 13
Investment securities | $					$ 0		$ 568,936
Investment securities | $					$ 0		49,369
Proceeds from disposal of investment securities	$ 359,060	$ 551,551,250
Crown Resorts Limited [Member]
Investments in Equity Securities [Line Items]
Investment securities							$ 568,936	$ 812,776,750
Definitive Purchase Agreement [Member] | Crown Resorts Limited [Member]
Investments in Equity Securities [Line Items]
Investment in equity securities, number of shares acquired | shares				135,350,000
Investment in equity securities, percentage of ownership transferred on shares acquired			19.99%	19.99%
Investment securities non-current									$ 618,455	$ 880,639,927
Tranche One [Member]
Investments in Equity Securities [Line Items]
Investment in equity securities, percentage of ownership transferred on shares acquired	9.99%	9.99%					9.99%	9.99%	9.99%	9.99%
Investment in equity securities shares sold price per share | $ / shares		$ 8.15
Tranche Two [Member] | Termination Of Obligation [Member]
Investments in Equity Securities [Line Items]
Investment in equity securities, percentage of ownership transferred on shares acquired						9.99%

INVESTMENT SECURITIES - Schedul

INVESTMENT SECURITIES - Schedule of Investment Securities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Net losses recognized on market equity securities	$ (165,440)	$ (41,737)	$ (111)
Less: Net losses (gains) recognized on marketable equity securities sold during the year	165,440	(3,085)	1,345
Unrealized (losses) gains recognized on marketable equity securities still held at the reporting date	$ 0	$ (44,822)	$ 1,234

ACCOUNTS RECEIVABLE, NET - Comp

ACCOUNTS RECEIVABLE, NET - Components of Accounts Receivable, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018	Dec. 31, 2017
Accounts Receivable [Line Items]
Accounts receivable, gross	$ 463,411		$ 546,229
Less: allowances for credit losses	(333,792)	[1]	(258,019)	[1]	$ (228,344)	$ (234,485)
Accounts receivable, net	129,619		288,210
Non-current portion	0		(3,877)
Current portion	129,619		284,333
Casino [Member]
Accounts Receivable [Line Items]
Accounts receivable, gross	460,863		538,911
Hotel [Member]
Accounts Receivable [Line Items]
Accounts receivable, gross	1,011		4,369
Other [Member]
Accounts Receivable [Line Items]
Accounts receivable, gross	$ 1,537		$ 2,949
[1]	As of December 31, 2020 and 2019, the allowances for credit losses of $16,517 and $25,026 are recorded as a reduction of the long-term receivables, which are included in long-term prepayments, deposits and other assets in the accompanying consolidated balance sheets, respectively.

ACCOUNTS RECEIVABLE, NET - Co_2

ACCOUNTS RECEIVABLE, NET - Components of Accounts Receivable, Net (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Receivables [Abstract]
Allowances for credit losses, non-current	$ 16,517	$ 25,026

ACCOUNTS RECEIVABLE, NET - Move

ACCOUNTS RECEIVABLE, NET - Movement in Allowances for Credit Losses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018
Receivables [Abstract]
Balance at beginning of year	$ 258,019	[1]	$ 228,344		$ 234,485
Provision (reversal) for credit losses	131,845		32,888		(2,479)
Write-offs	(57,868)		(4,460)		(2,115)
Effect of exchange rate	1,796		1,247		(1,547)
Balance at end of year	$ 333,792	[1]	$ 258,019	[1]	$ 228,344
[1]	As of December 31, 2020 and 2019, the allowances for credit losses of $16,517 and $25,026 are recorded as a reduction of the long-term receivables, which are included in long-term prepayments, deposits and other assets in the accompanying consolidated balance sheets, respectively.

ACCOUNTS RECEIVABLE, NET - Addi

ACCOUNTS RECEIVABLE, NET - Additional Information (Detail)	Dec. 31, 2020	Dec. 31, 2019
Accounts Receivable [Line Items]
Percentage of allowances for casino credit losses	72.20%	47.70%

PROPERTY AND EQUIPMENT, NET - C

PROPERTY AND EQUIPMENT, NET - Components of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property and Equipment, Net
Cost	$ 9,549,491	$ 9,114,770
Less: accumulated depreciation and amortization	(3,868,223)	(3,390,861)
Property and equipment, net	5,681,268	5,723,909
Buildings [Member]
Property and Equipment, Net
Cost	6,326,744	6,288,083
Furniture, fixtures and equipment [Member]
Property and Equipment, Net
Cost	1,065,280	1,071,341
Leasehold improvements [Member]
Property and Equipment, Net
Cost	1,175,678	1,049,332
Plant and gaming machinery [Member]
Property and Equipment, Net
Cost	276,499	265,856
Transportation [Member]
Property and Equipment, Net
Cost	219,646	218,952
Construction in progress [Member]
Property and Equipment, Net
Cost	399,041	143,330
Freehold land [Member]
Property and Equipment, Net
Cost	$ 86,603	$ 77,876

PROPERTY AND EQUIPMENT, NET - A

PROPERTY AND EQUIPMENT, NET - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Costs capitalized to construction in progress	$ 46,277	$ 21,774
Cost of property and equipment held under finance lease	246,638	233,503
Accumulated depreciation and amortization of property and equipment held under finance lease	$ 80,565	$ 63,758

GAMING SUBCONCESSION, NET - Sch

GAMING SUBCONCESSION, NET - Schedule of Gaming Subconcession, Net (Detail) - Gaming Subconcession [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Goodwill And Intangible Assets [Line Items]
Deemed cost	$ 903,160	$ 898,959
Less: accumulated amortization	(818,497)	(757,519)
Gaming subconcession, net	$ 84,663	$ 141,440

GAMING SUBCONCESSION, NET - Add

GAMING SUBCONCESSION, NET - Additional Information (Detail) - Gaming Subconcession [Member] $ in Thousands	Dec. 31, 2020USD ($)
Goodwill And Intangible Assets [Line Items]
Amortization of gaming subconcession, year 2021	$ 57,439
Amortization of gaming subconcession, year 2022	$ 27,224

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS - Summary of Changes in the Carrying Amounts of Goodwill (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019		Dec. 31, 2018
Goodwill [Line Items]
Beginning balance		$ 95,620	$ 81,376		$ 81,915
Acquisition			13,731
Impairment		(13,867)	0		0
Foreign currency translations		450	513		(539)
Ending balance		82,203	95,620		81,376
Mocha Clubs [Member]
Goodwill [Line Items]
Beginning balance	[1]	81,820	81,376		81,915
Foreign currency translations	[1]	383	444		(539)
Ending balance	[1]	82,203	81,820		81,376
Corporate and Other [Member]
Goodwill [Line Items]
Beginning balance	[2]	13,800	0		0
Acquisition	[2]		13,731
Impairment	[2]	(13,867)
Foreign currency translations	[2]	67	69
Ending balance		$ 0	$ 13,800	[2]	$ 0	[2]
[1]	The amount represents goodwill which arose from the acquisition of Mocha Slot Group Limited and its subsidiaries by the Company in 2006.
[2]	The amount represents goodwill which arose from the acquisition of Japan Ski Resort in 2009 as described in Note 25. As of December 31, 2020, the gross amount of goodwill and accumulated impairment losses were $13,864 and $13,864, respectively.

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Summary of Changes in the Carrying Amounts of Goodwill (Parenthetical) (Detail) - Japan Ski Resort [Member] $ in Thousands	Dec. 31, 2020USD ($)
Goodwill [Line Items]
Goodwill, Gross	$ 13,864
Goodwill, Accumulated Impairment Loss	$ 13,864

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Additional Information (Detail) - USD ($) $ in Thousands	Nov. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill And Intangible Assets [Line Items]
Amortization of finite lived intangible assets		$ 6,342	$ 2,232	$ 697
Proprietary rights [Member]
Goodwill And Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 12,000
Finite-Lived Intangible Asset, Useful Life	10 years

GOODWILL AND INTANGIBLE ASSET_5

GOODWILL AND INTANGIBLE ASSETS, NET - Summary of Intangible Assets, Net (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill And Intangible Assets [Line Items]
Indefinite-lived Intangible Assets	$ 4,235	$ 4,215
Total intangible assets, net	58,833	31,628
Internal-use Software [Member]
Goodwill And Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	51,882	30,353
Finite-Lived Intangible Assets, Accumulated Amortization	(9,110)	(2,940)
Finite-Lived Intangible Assets, Net	42,772	27,413
Proprietary rights [Member]
Goodwill And Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	12,013	0
Finite-Lived Intangible Assets, Accumulated Amortization	(187)	0
Finite-Lived Intangible Assets, Net	11,826	0
Trademarks [Member] | Mocha Clubs [Member]
Goodwill And Intangible Assets [Line Items]
Indefinite-lived Intangible Assets Acquired	4,235	4,215
Finite-Lived Intangible Assets Other Than Gaming Sub concession [Member]
Goodwill And Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Net	$ 54,598	$ 27,413

GOODWILL AND INTANGIBLE ASSET_6

GOODWILL AND INTANGIBLE ASSETS, NET - Summary of Estimated Future Amortization Expenses of Finite-Lived Intangible Assets (Detail) - Finite-Lived Intangible Assets Other Than Gaming Sub concession [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Goodwill And Intangible Assets [Line Items]
2021	$ 10,825
2022	9,984
2023	6,904
2024	3,167
2025	3,166
Over 2025	20,552
Finite lived intangible assets, net	$ 54,598	$ 27,413

LONG-TERM PREPAYMENTS, DEPOSI_3

LONG-TERM PREPAYMENTS, DEPOSITS AND OTHER ASSETS - Schedule of Long-Term Prepayments, Deposits and Other Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Long Term Prepayment Deposits and Other Assets [Abstract]
Entertainment production costs	$ 68,804	$ 76,795
Less: accumulated amortization	(68,804)	(72,230)
Entertainment production costs, net		4,565
Advance payments for construction costs	59,564	32,911
Other long-term assets and other	58,209	53,177
Long-term prepayments	49,648	408
Deferred financing costs, net	44,033	885
Deferred rent assets	34,311	37,835
Other deposits	13,984	16,709
Input value-added tax, net	13,172	12,469
Deposits for acquisition of property and equipment	11,687	13,642
Long-term casino accounts receivables, net of allowances for credit losses of $16,517 and $25,026		3,877
Long-term prepayments, deposits and other assets	$ 284,608	$ 176,478

LONG-TERM PREPAYMENTS, DEPOSI_4

LONG-TERM PREPAYMENTS, DEPOSITS AND OTHER ASSETS - Schedule of Long-Term Prepayments, Deposits and Other Assets (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Long Term Prepayment Deposits and Other Assets [Abstract]
Allowances for credit losses, non-current	$ 16,517	$ 25,026

LONG-TERM PREPAYMENTS, DEPOSI_5

LONG-TERM PREPAYMENTS, DEPOSITS AND OTHER ASSETS - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Long Term Prepayment Deposits and Other Assets [Abstract]
Useful life of the entertainment	costs over 10 years or the respective estimated useful lives of the entertainment shows, whichever is shorter.
Provision for value-added tax receivables	$ 5,786	$ 3,733	$ 4,095
Input value-added tax related to purchase of assets		$ 8,648

LAND USE RIGHTS, NET - Schedule

LAND USE RIGHTS, NET - Schedule of Land Use Rights, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Land Use Rights [Line Items]
Land use rights, gross	$ 1,203,828	$ 1,198,228
Less: accumulated amortization	(482,254)	(457,220)
Land use rights, net	721,574	741,008
Altira Macau - Taipa Land [Member]
Land Use Rights [Line Items]
Land use rights, gross	146,989	146,306
City of Dreams - Cotai Land [Member]
Land Use Rights [Line Items]
Land use rights, gross	400,981	399,115
Studio City - Studio City Land [Member]
Land Use Rights [Line Items]
Land use rights, gross	$ 655,858	$ 652,807

ACCRUED EXPENSES AND OTHER CU_3

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Schedule of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Contract with Customer Liability	$ 512,822	$ 768,805	$ 1,072,300
Gaming tax and license fee accruals	87,321	217,773
Staff cost accruals	99,612	169,622
Operating expense and other accruals and liabilities	73,177	117,338
Property and equipment payables	48,769	69,097
Interest expenses payable	96,491	49,298
Construction cost payables	57,200	28,583
Dividends payable	8,473
Total accrued expenses and other current liabilities	983,865	1,420,516
Outstanding Gaming Chips And Tokens [Member]
Contract with Customer Liability	205,780	473,330	638,702
Advance Customer Deposits And Ticket Sales [Member]
Contract with Customer Liability	277,867	255,884	386,869
Loyalty Program Liabilities [Member]
Contract with Customer Liability	$ 29,175	$ 39,591	$ 46,729

LONG-TERM DEBT, NET - Summary o

LONG-TERM DEBT, NET - Summary of Long-term Debt, Net (Detail) - USD ($) $ in Thousands		Dec. 31, 2020	Dec. 31, 2019
Long-Term Debt [Line Items]
Long-term debt, net		$ 5,645,391	$ 4,394,131
Current portion of long-term debt, net		0	(146)
Non current portion of long-term debt, net		5,645,391	4,393,985
Total Credit Facility [Member] | 2015 Credit Facilities [Member]
Long-Term Debt [Line Items]
Long-term debt, net	[1]	129	1,108
Total Credit Facility [Member] | 2020 Credit Facilities [Member]
Long-Term Debt [Line Items]
Long-term debt, net	[2]	249,910
Total Credit Facility [Member] | 2016 Studio City Credit Facilities [Member]
Long-Term Debt [Line Items]
Long-term debt, net	[3]	129	128
Senior Notes [Member] | 2017 4.875% Senior Notes, due 2025 [Member]
Long-Term Debt [Line Items]
Long-term debt, net		983,417	980,173
Senior Notes [Member] | 2019 5.250% Senior Notes, due 2026 [Member]
Long-Term Debt [Line Items]
Long-term debt, net		495,471	494,052
Senior Notes [Member] | 2019 5.625% Senior Notes, due 2027 [Member]
Long-Term Debt [Line Items]
Long-term debt, net		594,314	592,702
Senior Notes [Member] | 2019 5.375% Senior Notes, due 2029 [Member]
Long-Term Debt [Line Items]
Long-term debt, net		892,009	891,008
Senior Notes [Member] | 2020 5.750% Senior Notes, due 2028 [Member]
Long-Term Debt [Line Items]
Long-term debt, net		845,481
Senior Notes [Member] | 2016 7.250% SC Secured Notes, due 2021 [Member]
Long-Term Debt [Line Items]
Long-term debt, net			842,789
Senior Notes [Member] | 2020 6.000% SC Notes, due 2025 [Member]
Long-Term Debt [Line Items]
Long-term debt, net		495,434
Senior Notes [Member] | 2020 6.500% SC Notes, due 2028 [Member]
Long-Term Debt [Line Items]
Long-term debt, net		495,262
Senior Notes [Member] | 2019 7.250% Studio City Notes, due 2024 [Member]
Long-Term Debt [Line Items]
Long-term debt, net		$ 593,835	$ 592,171
[1]	As of December 31, 2020 and 2019, the unamortized deferred financing costs related to the 2015 Revolving Credit Facility of the 2015 Credit Facilities of nil and $3,097 are included in prepaid expenses and other current assets in the accompanying consolidated balance sheets, respectively.
[2]	As of December 31, 2020, the unamortized deferred financing costs related to the revolving credit facility of the 2020 Credit Facilities of $43,593 are included in long-term prepayments, deposits and other assets in the accompanying consolidated balance sheet.
[3]	As of December 31, 2020 and 2019, the unamortized deferred financing costs related to the 2016 SC Revolving Credit Facility of the 2016 Studio City Credit Facilities of $440 and $885 are included in long-term prepayments, deposits and other assets, in the accompanying consolidated balance sheets, respectively.

LONG-TERM DEBT, NET - Summary_2

LONG-TERM DEBT, NET - Summary of Long-term Debt, Net (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Long-Term Debt [Line Items]
Current portion of unamortized deferred financing costs		$ 5
2016 7.250% SC Secured Notes, due 2021 [Member] | Senior Notes [Member]
Long-Term Debt [Line Items]
Unamortized deferred financing costs		7,211
2017 4.875% Senior Notes, due 2025 [Member] | Senior Notes [Member]
Long-Term Debt [Line Items]
Unamortized deferred financing costs and original issue premiums	$ 16,583	19,827
2019 5.250% Senior Notes, due 2026 [Member] | Senior Notes [Member]
Long-Term Debt [Line Items]
Unamortized deferred financing costs	4,529	5,948
2019 5.625% Senior Notes, due 2027 [Member] | Senior Notes [Member]
Long-Term Debt [Line Items]
Unamortized deferred financing costs	5,686	7,298
2019 5.375% Senior Notes, due 2029 [Member] | Senior Notes [Member]
Long-Term Debt [Line Items]
Unamortized deferred financing costs	7,991	8,992
2019 7.250% Studio City Notes, due 2024 [Member] | Senior Notes [Member]
Long-Term Debt [Line Items]
Unamortized deferred financing costs	6,165	7,829
2020 5.750% Senior Notes, due 2028 [Member] | Senior Notes [Member]
Long-Term Debt [Line Items]
Unamortized deferred financing costs and original issue premiums	4,519
2020 6.000% SC Notes, due 2025 [Member] | Senior Notes [Member]
Long-Term Debt [Line Items]
Unamortized deferred financing costs	4,566
2020 6.500% SC Notes, due 2028 [Member] | Senior Notes [Member]
Long-Term Debt [Line Items]
Unamortized deferred financing costs	4,738
Total Credit Facility [Member] | 2015 Credit Facilities [Member]
Long-Term Debt [Line Items]
Unamortized deferred financing costs	0	42
Revolving Credit Facility [Member] | 2015 Credit Facilities [Member] | Prepaid Expenses and Other Current Assets [Member]
Long-Term Debt [Line Items]
Unamortized deferred financing costs	0	3,097
Revolving Credit Facility [Member] | 2020 Credit Facilities [Member] | Long-term Prepayments, Deposits and Other Assets [Member]
Long-Term Debt [Line Items]
Unamortized deferred financing costs	43,593
Revolving Credit Facility [Member] | 2016 Studio City Credit Facilities [Member] | Long-term Prepayments, Deposits and Other Assets [Member]
Long-Term Debt [Line Items]
Unamortized deferred financing costs	$ 440	$ 885

LONG-TERM DEBT, NET (2017 4.875

LONG-TERM DEBT, NET (2017 4.875% Senior Notes) - Additional Information (Detail) - USD ($) $ in Thousands	Jul. 03, 2017	Jun. 06, 2017	Dec. 31, 2020	Dec. 31, 2019
Long-Term Debt [Line Items]
Total long-term debt			$ 5,700,168	$ 4,451,278
2017 4.875% Senior Notes, due 2025 [Member]
Long-Term Debt [Line Items]
Interest rate per annum	4.875%	4.875%
2017 4.875% Senior Notes, due 2025 [Member] | Prior to June 6, 2020 [Member]
Long-Term Debt [Line Items]
Maximum redeemable percentage of principal prior to a specific date for partial redemption with net cash proceeds from equity offerings at a fixed redemption price	35.00%	35.00%
First 2017 Senior Notes [Member] | 2017 4.875% Senior Notes, due 2025 [Member]
Long-Term Debt [Line Items]
Total long-term debt		$ 650,000
Purchase price as percentage of principal		100.00%
Maturity date			Jun. 6, 2025
Second 2017 Senior Notes [Member] | 2017 4.875% Senior Notes, due 2025 [Member]
Long-Term Debt [Line Items]
Total long-term debt	$ 350,000
Purchase price as percentage of principal	100.75%
Maturity date			Jun. 6, 2025

LONG-TERM DEBT, NET (2019 5.250

LONG-TERM DEBT, NET (2019 5.250% Senior Notes) - Additional Information (Detail) - USD ($) $ in Thousands	Apr. 26, 2019	Dec. 31, 2020	Dec. 31, 2019
Long-Term Debt [Line Items]
Total long-term debt		$ 5,700,168	$ 4,451,278
2019 5.250% Senior Notes, due 2026 [Member] | Senior Notes [Member]
Long-Term Debt [Line Items]
Total long-term debt	$ 500,000
Maturity date		Apr. 26, 2026
Interest rate per annum	5.25%	5.25%
Purchase price as percentage of principal	100.00%
2019 5.250% Senior Notes, due 2026 [Member] | Senior Notes [Member] | Prior to April 26, 2022 [Member]
Long-Term Debt [Line Items]
Maximum redeemable percentage of principal prior to a specific date for partial redemption with net cash proceeds from equity offerings at a fixed redemption price	35.00%

LONG-TERM DEBT, NET (2019 5.625

LONG-TERM DEBT, NET (2019 5.625% Senior Notes) - Additional Information (Detail) - USD ($) $ in Thousands	Jul. 17, 2019	Dec. 31, 2020	Dec. 31, 2019
Long-Term Debt [Line Items]
Total long-term debt		$ 5,700,168	$ 4,451,278
Senior Notes [Member] | 2019 5.625% Senior Notes, due 2027 [Member]
Long-Term Debt [Line Items]
Total long-term debt	$ 600,000
Maturity date		Jul. 17, 2027
Interest rate per annum	5.625%
Purchase price as percentage of principal	100.00%
Senior Notes [Member] | 2019 5.625% Senior Notes, due 2027 [Member] | Prior to July 17, 2022 [Member]
Long-Term Debt [Line Items]
Maximum redeemable percentage of principal prior to a specific date for partial redemption with net cash proceeds from equity offerings at a fixed redemption price	35.00%

LONG-TERM DEBT, NET (2019 5.375

LONG-TERM DEBT, NET (2019 5.375% Senior Notes) - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 04, 2019	Dec. 31, 2020	Dec. 31, 2019
Long-Term Debt [Line Items]
Total long-term debt		$ 5,700,168	$ 4,451,278
2019 5.375% Senior Notes, due 2029 [Member] | Senior Notes [Member]
Long-Term Debt [Line Items]
Total long-term debt	$ 900,000
Maturity date		Dec. 4, 2029
Interest rate per annum	5.375%
Purchase price as percentage of principal	100.00%
2019 5.375% Senior Notes, due 2029 [Member] | Senior Notes [Member] | Prior to December 4, 2024 [Member]
Long-Term Debt [Line Items]
Maximum redeemable percentage of principal prior to a specific date for partial redemption with net cash proceeds from equity offerings at a fixed redemption price	35.00%

LONG-TERM DEBT, NET (2020 5.750

LONG-TERM DEBT, NET (2020 5.750% Senior Notes) - Additional Information (Detail) - USD ($) $ in Thousands	Aug. 11, 2020	Jul. 21, 2020	Dec. 31, 2020	Dec. 31, 2019
Long-Term Debt [Line Items]
Total long-term debt			$ 5,700,168	$ 4,451,278
2020 5.750% Senior Notes, due 2028 [Member]
Long-Term Debt [Line Items]
Interest rate per annum		5.75%
2020 5.750% Senior Notes, due 2028 [Member] | Prior to July 21, 2023 [Member]
Long-Term Debt [Line Items]
Maximum redeemable percentage of principal prior to a specific date for partial redemption with net cash proceeds from equity offerings at a fixed redemption price		35.00%
First 2020 Senior Notes [Member] | 2020 5.750% Senior Notes, due 2028 [Member]
Long-Term Debt [Line Items]
Total long-term debt		$ 500,000
Maturity date			Jul. 21, 2028
Purchase price as percentage of principal		100.00%
Second 2020 Senior Notes [Member] | 2020 5.750% Senior Notes, due 2028 [Member]
Long-Term Debt [Line Items]
Total long-term debt	$ 350,000
Maturity date			Jul. 21, 2028
Purchase price as percentage of principal	101.00%

LONG-TERM DEBT, NET (2019 7.250

LONG-TERM DEBT, NET (2019 7.250% Studio City Notes) - Additional Information (Detail) - USD ($) $ in Thousands	Feb. 11, 2019	Dec. 31, 2020	Feb. 17, 2021	Dec. 31, 2019
Long-Term Debt [Line Items]
Total long-term debt		$ 5,700,168		$ 4,451,278
2019 7.250% Studio City Notes, due 2024 [Member] | Senior Notes [Member]
Long-Term Debt [Line Items]
Total long-term debt	$ 600,000		$ 0
Purchase price as percentage of principal	100.00%
Maturity date		Feb. 11, 2024
Interest rate per annum	7.25%
Net assets restricted from distribution		$ 1,288,000
2019 7.250% Studio City Notes, due 2024 [Member] | Senior Notes [Member] | Prior to February 11, 2021 [Member]
Long-Term Debt [Line Items]
Maximum redeemable percentage of principal prior to a specific date for partial redemption with net cash proceeds from equity offerings at a fixed redemption price	35.00%

LONG-TERM DEBT, NET (2020 Studi

LONG-TERM DEBT, NET (2020 Studio City Notes) - Additional Information (Detail) - USD ($) $ in Thousands	Jul. 15, 2020	Dec. 31, 2020	Dec. 31, 2019
Long-Term Debt [Line Items]
Total long-term debt		$ 5,700,168	$ 4,451,278
2020 6.000% SC Notes, due 2025 [Member] | Senior Notes [Member]
Long-Term Debt [Line Items]
Total long-term debt	$ 500,000
Purchase price as percentage of principal	100.00%
Maturity date		Jul. 15, 2025
Interest rate per annum	6.00%
2020 6.000% SC Notes, due 2025 [Member] | Senior Notes [Member] | Prior to July 15, 2022 [Member]
Long-Term Debt [Line Items]
Maximum redeemable percentage of principal prior to a specific date for partial redemption with net cash proceeds from equity offerings at a fixed redemption price	35.00%
2020 Studio City Notes [Member] | Senior Notes [Member]
Long-Term Debt [Line Items]
Net assets restricted from distribution		$ 1,288,000
2020 6.500% SC Notes, due 2028 [Member] | Senior Notes [Member]
Long-Term Debt [Line Items]
Total long-term debt	$ 500,000
Purchase price as percentage of principal	100.00%
Maturity date		Jan. 15, 2028
Interest rate per annum	6.50%
2020 6.500% SC Notes, due 2028 [Member] | Senior Notes [Member] | Prior to July 15, 2023 [Member]
Long-Term Debt [Line Items]
Maximum redeemable percentage of principal prior to a specific date for partial redemption with net cash proceeds from equity offerings at a fixed redemption price	35.00%

LONG-TERM DEBT, NET (2016 7.250

LONG-TERM DEBT, NET (2016 7.250% SC Secured Notes) - Additional Information (Detail) - USD ($) $ in Thousands	Aug. 14, 2020	Nov. 30, 2016	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Long-Term Debt [Line Items]
Total long-term debt			$ 5,700,168	$ 4,451,278
Repayments of long-term debt			1,454,837	2,592,631	$ 592,573
Loss on extinguishment of debt			$ 19,952	$ 6,333	$ 3,461
2016 7.250% SC Secured Notes, due 2021 [Member] | Senior Notes [Member]
Long-Term Debt [Line Items]
Total long-term debt		$ 850,000
Interest rate per annum		7.25%
Maturity date			Nov. 30, 2021
Purchase price as percentage of principal		100.00%
Repayments of long-term debt	$ 850,000
Loss on extinguishment of debt			$ 18,716

LONG-TERM DEBT, NET (2015 Credi

LONG-TERM DEBT, NET (2015 Credit Facilities) - Additional Information (Detail) $ in Thousands	Jan. 27, 2021HKD ($)	Jan. 21, 2021USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2019HKD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2020HKD ($)	May 07, 2020USD ($)	May 07, 2020HKD ($)	May 06, 2020USD ($)	May 06, 2020HKD ($)	Apr. 29, 2020USD ($)	Apr. 29, 2020HKD ($)	Jun. 29, 2015USD ($)	Jun. 29, 2015HKD ($)
Long-Term Debt [Line Items]
Total outstanding borrowings			$ 4,451,278		$ 5,700,168	$ 4,451,278
Amount available for future drawdown					1,744,637
Repayments of long-term debt					1,454,837	2,592,631	$ 592,573
Loss on extinguishment of debt					19,952	6,333	3,461
Costs associated with debt modification					310	579	0
2015 Credit Facilities [Member] | Term Loan Facility [Member]
Long-Term Debt [Line Items]
Credit facility, maximum borrowing capacity															$ 500,000	$ 3,900,000,000
Total outstanding borrowings					129			$ 1,000,000	$ 129	$ 1,000,000
Repayments of long-term debt			$ 353,062	$ 2,750,000,000
Loss on extinguishment of debt						2,612
2015 Credit Facilities [Member] | Revolving Credit Facility [Member]
Long-Term Debt [Line Items]
Credit facility, maximum borrowing capacity									129	1,000,000					1,250,000	9,750,000,000
Total outstanding borrowings								0
Amount available for future drawdown					129			1,000,000
Loan commitment fees recognized					1,512	$ 2,322	$ 3,870
Revolving credit facility, cash collateral									$ 275	$ 2,130,000
2015 Credit Facilities [Member] | Total Credit Facility [Member]
Long-Term Debt [Line Items]
Credit facility, maximum borrowing capacity															1,750,000	13,650,000,000
Loss on extinguishment of debt					1,236
Costs associated with debt modification					310
2011 Credit Facilities [Member] | Total Credit Facility [Member]
Long-Term Debt [Line Items]
Credit facility, maximum borrowing capacity															$ 1,203,362	$ 9,362,160,000
2020 Credit Facilities [Member] | Revolving Credit Facility [Member]
Long-Term Debt [Line Items]
Credit facility, maximum borrowing capacity													$ 1,915,947	$ 14,850,000,000
Total outstanding borrowings					249,910			1,937,500,000			$ 352,189	$ 2,730,000,000
Amount available for future drawdown					1,665,532			$ 12,912,500,000
Repayments of long-term debt	$ 1,937,500,000	$ 249,887
Loan commitment fees recognized					$ 6,022

LONG-TERM DEBT, NET (2020 Credi

LONG-TERM DEBT, NET (2020 Credit Facilities) - Additional Information (Detail) $ in Thousands	Jan. 27, 2021HKD ($)	Jan. 21, 2021USD ($)	Apr. 29, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2020HKD ($)	May 06, 2020USD ($)	May 06, 2020HKD ($)	Apr. 29, 2020HKD ($)
Long-Term Debt [Line Items]
Total outstanding borrowings				$ 5,700,168	$ 4,451,278
Amount available for future drawdown				1,744,637
Repayments of long-term debt				$ 1,454,837	$ 2,592,631	$ 592,573
2020 Credit Facilities [Member] | Revolving Credit Facility [Member]
Long-Term Debt [Line Items]
Credit facility, maximum borrowing capacity			$ 1,915,947							$ 14,850,000,000
Term of maturity			5 years
Maturity date				Apr. 29, 2025
Loan commitment fees recognized				$ 6,022
Total outstanding borrowings				249,910			$ 1,937,500,000	$ 352,189	$ 2,730,000,000
Amount available for future drawdown				$ 1,665,532			$ 12,912,500,000
Repayments of long-term debt	$ 1,937,500,000	$ 249,887
2020 Credit Facilities [Member] | Maximum [Member] | Revolving Credit Facility [Member] | Hong Kong Interbank Offered Rate HIBOR [Member]
Long-Term Debt [Line Items]
Interest rate margin per annum added to applicable variable rate			2.00%
2020 Credit Facilities [Member] | Minimum [Member] | Revolving Credit Facility [Member] | Hong Kong Interbank Offered Rate HIBOR [Member]
Long-Term Debt [Line Items]
Interest rate margin per annum added to applicable variable rate			1.00%

LONG-TERM DEBT, NET (2016 Studi

LONG-TERM DEBT, NET (2016 Studio City Credit Facilities) - Additional Information (Detail) $ in Thousands	May 15, 2021	Nov. 30, 2016USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2020HKD ($)	Nov. 30, 2016HKD ($)	Jan. 28, 2013USD ($)	Jan. 28, 2013HKD ($)
Long-Term Debt [Line Items]
Total outstanding borrowings			$ 5,700,168	$ 4,451,278
Amount available for future drawdown			$ 1,744,637
Studio City Project Facility [Member] | Total Credit Facility [Member]
Long-Term Debt [Line Items]
Credit facility, maximum borrowing capacity								$ 1,395,357	$ 10,855,880,000
2016 Studio City Credit Facilities [Member] | Total Credit Facility [Member]
Long-Term Debt [Line Items]
Credit facility, maximum borrowing capacity		$ 30,077					$ 234,000,000
Maturity date			Nov. 30, 2021
Net assets restricted from distribution			$ 1,192,000
2016 Studio City Credit Facilities [Member] | Total Credit Facility [Member] | Extended Maturity [Member]
Long-Term Debt [Line Items]
Maturity date	Jan. 15, 2028
2016 Studio City Credit Facilities [Member] | Total Credit Facility [Member] | Hong Kong Interbank Offered Rate HIBOR [Member]
Long-Term Debt [Line Items]
Interest rate margin per annum added to applicable variable rate		4.00%
2016 Studio City Credit Facilities [Member] | Term Loan Facility [Member]
Long-Term Debt [Line Items]
Credit facility, maximum borrowing capacity		$ 129					1,000,000
Total outstanding borrowings			129			$ 1,000,000
Term loan facility, cash collateral		131					1,012,500
2016 Studio City Credit Facilities [Member] | Revolving Credit Facility [Member]
Long-Term Debt [Line Items]
Credit facility, maximum borrowing capacity		$ 29,948					$ 233,000,000
Total outstanding borrowings						0
Amount available for future drawdown			30,054			$ 233,000,000
Loan commitment fees recognized			$ 421	$ 416	$ 419

LONG-TERM DEBT, NET (Philippine

LONG-TERM DEBT, NET (Philippine Credit Facility) - Additional Information (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2020PHP (₱)	Oct. 14, 2015USD ($)	Oct. 14, 2015PHP (₱)
Long-Term Debt [Line Items]
Amount available for future drawdown	$ 1,744,637
Philippine Credit Facility [Member]
Long-Term Debt [Line Items]
Credit facility, maximum borrowing capacity			$ 49,824	₱ 2,350,000,000
Interest rate, description	interest, as amended from time to time, at the higher of: (i) the PHP BVAL Reference Rate of the selected interest period plus the applicable margin to be mutually agreed by the bank and the borrower at the time of drawdown, and (ii) Philippines Term Deposit Facility Rate of the selected interest period plus the applicable margin to be mutually agreed by the bank and the borrower at the time of drawdown, such rate to be set one business day prior to the relevant interest period.
Maturity date, description	the Philippine Credit Facility availability period, as amended from time to time, is up to January 31, 2021 and was further extended to May 1, 2021 in January 2021, and the maturity date of each individual drawdown, as amended from time to time, to be the earlier of: (i) the date which is 180 days from the date of drawdown, and (ii) the date which is 180 days after the end of the availability period.
Amount available for future drawdown	$ 48,922	₱ 2,350,000,000

LONG-TERM DEBT, NET - Borrowing

LONG-TERM DEBT, NET - Borrowing Rates of Long-Term Debt - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Average borrowing rate per annum	5.71%	5.45%	5.97%

LONG-TERM DEBT, NET - Scheduled

LONG-TERM DEBT, NET - Scheduled Maturities of Long-Term Debt (Excluding Unamortized Deferred Financing Costs and Original Issue Premiums) (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
2021	$ 0
2022	129
2023	0
2024	600,000
2025	1,749,910
Over 2025	3,350,129
Total long-term debt	$ 5,700,168	$ 4,451,278

LEASES - Schedule Of Components

LEASES - Schedule Of Components Of Lease Cost (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Operating Lease, Costs [Abstract]
Amortization of land use rights	$ 22,886	$ 22,659
Operating lease costs	31,039	39,681
Short-term lease costs	842	1,569
Variable lease costs	(5,565)	9,595
Finance Lease, Costs [Abstract]
Amortization of right-of-use assets	12,836	12,326
Interest cost	41,550	39,696
Total lease costs	$ 103,588	$ 125,526

LEASES - Disclosure of Other In

LEASES - Disclosure of Other Information Related to Lease Term and Discount Rate (Detail)	Dec. 31, 2020	Dec. 31, 2019
Lessee Operating Lease and Finance Lease Other Information Related to Lease Term and Discount Rate [Abstract]
Operating leases, Weighted average remaining lease term	19 years 9 months 18 days	18 years 3 months 18 days
Operating leases, Weighted average discount rate	5.76%	5.82%
Finance leases, Weighted average remaining lease term	12 years 6 months	13 years 6 months
Finance leases, Weighted average discount rate	13.49%	13.49%

LEASES - Schedule Of Maturities

LEASES - Schedule Of Maturities Of Lease Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Leases [Abstract]
Year ending December 31, 2021	$ 27,729
Year ending December 31, 2022	14,999
Year ending December 31, 2023	9,669
Year ending December 31, 2024	6,961
Year ending December 31, 2025	6,454
Over year ending December 31, 2025	95,222
Total future minimum lease payments	161,034
Less: amount representing interest	(58,101)
Present value of future minimum lease payments	102,933		$ 170,833
Present value of future minimum lease payments current portion	(27,066)	$ (33,152)
Present value of future minimum lease payments noncurrent portion	75,867	88,259
Year ending December 31, 2021	83,447
Year ending December 31, 2022	50,931
Year ending December 31, 2023	52,119
Year ending December 31, 2024	53,523
Year ending December 31, 2025	53,442
Over year ending December 31, 2025	405,285
Total future minimum lease payments	698,747
Less: amount representing interest	(348,520)
Present value of future minimum lease payments	350,227
Present value of future minimum lease payments current portion	(80,004)	(39,725)
Present value of future minimum lease payments non-current portion	$ 270,223	$ 262,040

LEASES - LEASES - Summary of Fu

LEASES - LEASES - Summary of Future Minimum Fees, Excluding the Contingent Fees to be Received under Non-Cancellable Operating Leases (Detail) $ in Thousands	Dec. 31, 2020USD ($)
Lessor, Lease, Description [Line Items]
Year ending December 31, 2021	$ 50,349
Year ending December 31, 2022	47,953
Year ending December 31, 2023	44,032
Year ending December 31, 2024	44,772
Year ending December 31, 2025	46,245
Over year ending December 31, 2025	24,626
Total minimum future fees to be received	$ 257,977

LEASES - Additional Information

LEASES - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
Minimum operating lease income	$ 37,257	$ 36,938	$ 43,270
Operating leases - as lessor, last expiry date	2035-05
Rental and right to use expenses (including contingent fees)			45,816
Minimum rental and right to use expenses			29,896
Contingent rental and right to use expenses			15,920
Amount of reduction in lease income as a result of the rent concession and uncollectible lease income	$ 18,356
Contingent operating lease income, Net of adjustment	$ (1,955)	$ 14,295	$ 12,654
Macau Land Concession Contracts [Member]
Lessee, Lease, Description [Line Items]
Initial contract term (in years)	25 years
Renewable contract term	10 years
Estimated Lease Term	40 years

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
The estimated fair value of long-term debt	$ 5,982,252	$ 4,607,202
The carrying value of long-term debt, excluding unamortized deferred financing costs and original issue premium	$ 5,700,168	$ 4,451,278

CAPITAL STRUCTURE - Shares Issu

CAPITAL STRUCTURE - Shares Issued By Company - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Ordinary Shares [Member]
Capital Structure [Line Items]
Shares issued for future vesting of restricted shares and exercise of share options (in shares)	0	0	4,570,191
Treasury Shares [Member]
Capital Structure [Line Items]
Shares issued for future vesting of restricted shares and exercise of share options (in shares)			(4,570,191)
Issuance of shares for restricted shares vested (in shares)	2,694,507	1,398,840	2,115,809
Exercise of share options (in shares)	389,181	666,255	4,803,288

CAPITAL STRUCTURE - Shares Repu

CAPITAL STRUCTURE - Shares Repurchased by the Company - Additional Information (Detail) - USD ($) $ in Thousands	Nov. 08, 2018	Mar. 21, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Capital Structure [Line Items]
Treasury shares, shares			25,582,630	19,219,846
Ordinary shares, issued			1,456,547,942	1,456,547,942
Ordinary shares, outstanding			1,430,965,312	1,437,328,096
Treasury Shares [Member]
Capital Structure [Line Items]
Shares repurchased by the Company			9,446,472		96,571,065
Treasury Shares [Member] | 2018 Share Repurchase Program [Member]
Capital Structure [Line Items]
Stock repurchase program authorized amount		$ 500,000
Stock repurchase program period		3 years
Treasury Shares [Member] | Second 2018 Share Repurchase Program [Member]
Capital Structure [Line Items]
Stock repurchase program authorized amount	$ 500,000
Stock repurchase program period	3 years
Treasury Shares [Member] | Stock Repurchase Program [Member]
Capital Structure [Line Items]
Shares repurchased by the Company				0
Retirement of shares (in shares)			0	81,952,230	0
Treasury Shares [Member] | Stock Repurchase Program [Member] | American Depository Shares [Member]
Capital Structure [Line Items]
Shares repurchased by the Company			3,148,824		32,190,355
Treasury Shares [Member] | Stock Repurchase Program [Member] | Equivalent Ordinary Shares for ADS [Member]
Capital Structure [Line Items]
Shares repurchased by the Company			9,446,472		96,571,065

INCOME TAXES - Summary of (Loss

INCOME TAXES - Summary of (Loss) income before Income Tax (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of Income Taxes [Line Items]
(Loss) income before income tax	$ (1,457,527)	$ 402,567	$ 339,134
Macau Complementary Tax [Member]
Schedule of Income Taxes [Line Items]
(Loss) income before income tax	(772,988)	665,591	522,390
Hong Kong Profits Tax [Member]
Schedule of Income Taxes [Line Items]
(Loss) income before income tax	(342,715)	(72,676)	(48,385)
Philippine Corporate Income Tax [Member]
Schedule of Income Taxes [Line Items]
(Loss) income before income tax	(102,990)	61,768	83,758
Cyprus Corporate Income Tax [Member]
Schedule of Income Taxes [Line Items]
(Loss) income before income tax	(11,190)	16,432	(14,268)
Income Tax in Other Jurisdictions [Member]
Schedule of Income Taxes [Line Items]
(Loss) income before income tax	$ (227,644)	$ (268,548)	$ (204,361)

INCOME TAXES - Summary of Incom

INCOME TAXES - Summary of Income Tax (Credit) Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income tax expense - current:
Income tax expense - current	$ 11,048	$ 7,110	$ 3,471
(Over) under provision of income taxes in prior years:
(Over) under provision of income taxes in prior years	(11)	360	(1,471)
Income tax expense (credit) expense - deferred:
Income tax expense (credit) expense - deferred	(13,950)	869	(1,762)
Total income tax (credit) expense	(2,913)	8,339	238
Macau Complementary Tax [Member]
Income tax expense - current:
Income tax expense - current	6,402	1,130	676
(Over) under provision of income taxes in prior years:
(Over) under provision of income taxes in prior years	(544)	38	793
Income tax expense (credit) expense - deferred:
Income tax expense (credit) expense - deferred	(9,762)	(900)	(629)
Lump sum in lieu of Macau Complementary Tax on dividends [Member]
Income tax expense - current:
Income tax expense - current	2,367	2,345	2,341
Hong Kong Profits Tax [Member]
Income tax expense - current:
Income tax expense - current	38	64	46
(Over) under provision of income taxes in prior years:
(Over) under provision of income taxes in prior years	(2)	(3)	(2,303)
Income tax expense (credit) expense - deferred:
Income tax expense (credit) expense - deferred	(26)	(341)	(2,554)
Philippine Corporate Income Tax [Member]
Income tax expense - current:
Income tax expense - current	59	5	2
(Over) under provision of income taxes in prior years:
(Over) under provision of income taxes in prior years	(5)	(1)	(6)
Income tax expense (credit) expense - deferred:
Income tax expense (credit) expense - deferred	(3,774)	2,283	1,164
Cyprus Corporate Income Tax [Member]
Income tax expense - current:
Income tax expense - current	0	1,699	0
(Over) under provision of income taxes in prior years:
(Over) under provision of income taxes in prior years	58	0	0
Income tax expense (credit) expense - deferred:
Income tax expense (credit) expense - deferred	(64)	(606)	683
Income Tax in Other Jurisdictions [Member]
Income tax expense - current:
Income tax expense - current	2,182	1,867	406
(Over) under provision of income taxes in prior years:
(Over) under provision of income taxes in prior years	482	326	45
Income tax expense (credit) expense - deferred:
Income tax expense (credit) expense - deferred	$ (324)	$ 433	$ (426)

INCOME TAXES - Schedule of Reco

INCOME TAXES - Schedule of Reconciliation of Income Tax (Credit) Expense from (Loss) Income Before Income Tax (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
(Loss) income before income tax	$ (1,457,527)	$ 402,567	$ 339,134
Macau Complementary Tax rate	12.00%	12.00%	12.00%
Income tax (credit) expense at Macau Complementary Tax rate	$ (174,903)	$ 48,308	$ 40,696
Lump sum in lieu of Macau Complementary Tax on dividends	2,367	2,345	2,341
Effect of different tax rates of subsidiaries operating in other jurisdictions	(36,938)	2,178	7,067
(Over) under provision in prior years	(11)	360	(1,471)
Effect of income for which no income tax expense is payable	(8,171)	(9,763)	(3,035)
Effect of expenses for which no income tax benefit is receivable	107,037	54,856	38,468
Effect of profits generated by gaming operations exempted	0	(165,947)	(157,367)
Effect of tax losses that cannot be carried forward	32,605	0	0
Changes in valuation allowances	32,166	30,473	12,838
Expired tax losses	42,935	45,529	60,701
Income tax (credit) expense	$ (2,913)	$ 8,339	$ 238

INCOME TAXES - Additional Infor

INCOME TAXES - Additional Information (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2020MOP (MOP$)
Schedule of Income Taxes [Line Items]
Percentage of tax on estimated taxable income	12.00%	12.00%	12.00%
Expected increase (decrease) in net income attributable to the parent if taxes on casino gaming profits have been paid		$ (145,617)	$ (129,241)
Effective tax rate	0.20%	2.07%	0.07%
Valuation allowances	$ 284,656	$ 257,965
Adjusted operating tax losses carried forwards, expired	227,117
Aggregate undistributed earnings of foreign subsidiaries	893,024	1,024,419
Provision related to tax withholding for dividends	0	0
Deferred income tax liability, undistributed earnings	107,162	124,169
Unrecognized tax benefits that would impact effective tax rate	15,132	$ 7,504
Operating Tax Loss Carry Forwards With Expiry Dates [Member]
Schedule of Income Taxes [Line Items]
Adjusted operating tax losses carry forwards expiration	1,277,376
Operating Tax Loss Carry Forwards With No Expiry Date [Member]
Schedule of Income Taxes [Line Items]
Adjusted operating tax losses carry forwards expiration	$ 96,171
Diluted [Member]
Schedule of Income Taxes [Line Items]
Expected reduction in earnings per share if taxes on casino gaming profits have been paid | $ / shares		$ 0.101	$ 0.085
Philippine Corporate Income Tax [Member]
Schedule of Income Taxes [Line Items]
Percentage of tax on estimated taxable income	30.00%	30.00%	30.00%
Statute of limitation for tax return	3 years
Lump sum in lieu of Macau Complementary Tax on dividends [Member]
Schedule of Income Taxes [Line Items]
Annual lump sum in lieu of Macau Complementary tax on dividend	$ 2,367			MOP$ 18900000
Macau Complementary Tax [Member]
Schedule of Income Taxes [Line Items]
Percentage of tax on estimated taxable income	12.00%	12.00%	12.00%
Statute of limitation for tax return	5 years
Hong Kong Profits Tax [Member]
Schedule of Income Taxes [Line Items]
Percentage of tax on estimated taxable income	16.50%	16.50%	16.50%
Statute of limitation for tax return	6 years
Cyprus Corporate Income Tax [Member]
Schedule of Income Taxes [Line Items]
Percentage of tax on estimated taxable income	12.50%	12.50%	12.50%
Statute of limitation for tax return	6 years

INCOME TAXES - Schedule of Net

INCOME TAXES - Schedule of Net Deferred Tax Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets
Net operating losses carried forward	$ 220,287	$ 167,293
Depreciation and amortization	64,588	49,985
Lease liabilities	48,184	104,404
Others	4,974	9,373
Sub-total	338,033	331,055
Valuation allowances	(284,656)	(257,965)
Total deferred tax assets	53,377	73,090
Deferred tax liabilities
Right-of-use assets	(28,942)	(63,011)
Land use rights	(47,690)	(46,430)
Intangible assets	(508)	(506)
Unrealized capital allowances	(7,553)	(7,242)
Others	(8,260)	(9,020)
Total deferred tax liabilities	(92,953)	(126,209)
Deferred tax liabilities, net	$ (39,576)	$ (53,119)

INCOME TAXES - Schedule of Unre

INCOME TAXES - Schedule of Unrecognized tax benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
At beginning of year	$ 7,504	$ 4,929	$ 2,582
Additions based on tax positions related to current year	8,057	2,575	2,347
Restricted due to expiry of the statute of limitations	(429)
At end of year	$ 15,132	$ 7,504	$ 4,929

SHARE-BASED COMPENSATION - Addi

SHARE-BASED COMPENSATION - Additional Information (Detail)	Jun. 24, 2019$ / shares	May 31, 2019USD ($)$ / sharesshares	May 31, 2019₱ / shares$ / shares	Apr. 24, 2019$ / shares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2020₱ / shares	Jun. 24, 2019₱ / shares	May 31, 2019₱ / shares	Apr. 24, 2019₱ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock Par value | $ / shares					$ 0.01	$ 0.01
2006 Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
The period which the maximum aggregate number of ordinary shares that can be issued					10 years
Maximum aggregate number of ordinary shares that can be issued | shares					100,000,000
2006 Share Incentive Plan [Member] | Share options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost					$ 0
Exercise of share options (in shares) | shares					267,141
2011 Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
The period which the maximum aggregate number of ordinary shares that can be issued					10 years
Maximum aggregate number of ordinary shares that can be issued | shares					100,000,000
The maximum percentage of issued share capital that can be issued for the share based awards plan upon shareholders' approval					10.00%
Remaining shares available for grant | shares					37,823,024
Expiration term of awards granted					10 years
2011 Share Incentive Plan [Member] | Share options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost					$ 13,998,000
Exercise of share options (in shares) | shares					122,040
Expiration term of awards granted					10 years
Weighted average grant date fair value | $ / shares					$ 1.21	$ 2.59	$ 3.09
Period of recognition of unrecognized compensation cost					1 year 10 months 2 days
2011 Share Incentive Plan [Member] | Share options [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of years the awards becomes exercisable					2 years
2011 Share Incentive Plan [Member] | Share options [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of years the awards becomes exercisable					3 years
2011 Share Incentive Plan [Member] | Restricted shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost					$ 40,756,000
Grant date fair value of restricted shares vested					$ 20,317,000	$ 8,825,000	$ 13,952,000
Number of years the awards becomes exercisable					1 year 10 months 28 days
Share-based Payment Arrangement, Expense (in lieu of bonus)					$ 13,799,000
Share-based Payment Arrangement, Amount Capitalized (in lieu of bonus)					$ 921,000
2011 Share Incentive Plan [Member] | Restricted shares [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of years the awards becomes exercisable					2 years
2011 Share Incentive Plan [Member] | Restricted shares [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of years the awards becomes exercisable					3 years
MRP Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum aggregate number of ordinary shares that can be issued | shares					442,630,330
The maximum percentage of issued share capital that can be issued for the share based awards plan upon shareholders' approval					5.00%
Remaining shares available for grant | shares					305
Expiration term of awards granted					10 years
Share Price | (per share)					$ 0.02			₱ 1
Adjustments to Additional Paid in Capital arising from share based awards modification		$ 4,619,000
Adjustments to non-controlling interest arising from share based awards modification		84,000
Accrued liability associated with cash settled share option and restricted shares		$ 4,064,000			$ 333,000	$ 1,217,000
MRP Share Incentive Plan [Member] | Articles of Incorporation of MRP Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description Of Approval Of Amended Articles Of Incorporation of Plan					On April 24, 2019 and June 24, 2019, the board and the stockholders of MRP approved an amendment to the Amended Articles of Incorporation of MRP, respectively, whereby, without changing the total amount of the authorized capital stock, the par value per MRP common share was increased from
MRP Share Incentive Plan [Member] | Philippine Securities and Exchange Commission [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stockholder's Equity Reverse Stock Split Securities Exchange Commission Approval Date	May 12, 2020			May 12, 2020
MRP Share Incentive Plan [Member] | Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common Stock Par value | (per share)	$ 0.02			$ 0.02					₱ 1		₱ 1
Increase Decrease in Common Stock Par Value | (per share)	$ 9,857			$ 9,857					₱ 500,000		₱ 500,000
MRP Share Incentive Plan [Member] | Share options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise of share options (in shares) | shares					0	0	0
Expiration term of awards granted					10 years
Weighted average grant date fair value | (per share)		$ 0.08	₱ 4.23		$ 0	$ 0	$ 0.07
Period of recognition of unrecognized compensation cost					2 months 26 days
Unrecognized compensation cost					$ 14,000
Cash paid to settle the cash-settled awards					$ 495,000	$ 760,000
Number of Share Options, Modified to cash-settled | shares		15,971,173
MRP Share Incentive Plan [Member] | Share options [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of years the awards becomes exercisable					2 years
MRP Share Incentive Plan [Member] | Share options [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of years the awards becomes exercisable					3 years
MRP Share Incentive Plan [Member] | Restricted shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost					$ 95,000
Grant date fair value of restricted shares vested					$ 1,030,000	2,026,000	$ 1,747,000
Number of years the awards becomes exercisable					3 months 18 days
Number of Restricted Shares, Modified to cash-settled | shares		29,068,424
Share Price | (per share)		$ 0.14	₱ 0.14							₱ 7.25
Cash paid to settle the cash-settled awards					$ 871,000	$ 2,948,000
MRP Share Incentive Plan [Member] | Restricted shares [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of years the awards becomes exercisable							2 years
MRP Share Incentive Plan [Member] | Restricted shares [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of years the awards becomes exercisable							3 years
Melco International Share Incentive Plan [Member] | Share options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost					$ 5,481,000
Exercise of share options (in shares) | shares					0	0
Number of years the awards becomes exercisable						2 years 9 months 18 days
Expiration term of awards granted						10 years
Weighted average grant date fair value | $ / shares						$ 0.90
Period of recognition of unrecognized compensation cost					1 year 6 months
Melco International Share Incentive Plan [Member] | Restricted shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost					$ 4,956,000
Grant date fair value of restricted shares vested					$ 3,979,000	$ 0
Number of years the awards becomes exercisable						2 years 9 months 18 days
Period of recognition of unrecognized compensation cost					1 year 6 months
Share Price | (per share)					$ 0.14			₱ 7.25
Number of Restricted Shares, Modified to cash-settled | shares					2,569,000

SHARE-BASED COMPENSATION - Summ

SHARE-BASED COMPENSATION - Summary of Share Options Activity (Detail) - Share options [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
2006 Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Share Options, Beginning Balance	2,151,432
Number of Share Options, Exercised	(267,141)
Number of Share Options, Ending Balance	1,884,291	2,151,432
Number of Share Options, Fully vested and exercisable	1,884,291
Weighted-Average Exercise Price, Beginning Balance	$ 1.72
Weighted-Average Exercise Price, Exercised	1.49
Weighted-Average Exercise Price, Ending Balance	1.75	$ 1.72
Weighted-Average Exercise Price, Fully vested and exercisable	$ 1.75
Weighted-Average Remaining Contractual Term, Outstanding	2 months 19 days
Weighted-Average Remaining Contractual Term, Fully vested and exercisable	2 months 19 days
Aggregate Intrinsic Value, Outstanding	$ 8,347
Aggregate Intrinsic Value, Fully vested and exercisable	$ 8,347
2011 Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Share Options, Beginning Balance	19,776,978
Number of Share Options, Granted	12,159,207
Number of Share Options, Exercised	(122,040)
Number of Share Options, Forfeited or expired	(2,967,918)
Number of Share Options, Ending Balance	28,846,227	19,776,978
Number of Shares Options, Fully vested and expected to vest	28,846,227
Number of Shares Options, Exercisable	13,002,909
Weighted-Average Exercise Price, Beginning Balance	$ 7.01
Weighted-Average Exercise Price, Granted	4.13
Weighted-Average Exercise Price, Exercised	5.44
Weighted-Average Exercise Price, Forfeited or expired	5.82
Weighted-Average Exercise Price, Ending Balance	5.93	$ 7.01
Weighted-Average Exercise Price, Fully vested and expected to vest	5.93
Weighted-Average Exercise Price, Exercisable	$ 6.21
Weighted-Average Remaining Contractual Term, Outstanding	7 years 3 months
Weighted-Average Remaining Contractual Term, Fully vested and expected to vest	7 years 3 months
Weighted-Average Remaining Contractual Term, Exercisable	5 years 4 months 17 days
Aggregate Intrinsic Value, Outstanding	$ 28,312
Aggregate Intrinsic Value, Fully vested and expected to vest	28,312
Aggregate Intrinsic Value, Exercisable	$ 6,999
MRP Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Share Options, Granted	0	0
Number of Share Options, Exercised	0	0	0
MRP Share Incentive Plan [Member] | Cash-settled [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Share Options, Beginning Balance	7,383,408
Number of share Options, Vested	(6,357,751)
Number of Share Options, Ending Balance	1,025,657	7,383,408
Weighted-Average Remaining Contractual Term, Outstanding	7 years 3 months
Melco International Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Share Options, Beginning Balance	14,200,000
Number of Share Options, Exercised	0	0
Number of Share Options, Ending Balance	14,200,000	14,200,000
Number of Shares Options, Fully vested and expected to vest	14,200,000
Number of Shares Options, Exercisable	4,734,000
Weighted-Average Exercise Price, Beginning Balance	$ 2.43
Weighted-Average Exercise Price, Ending Balance	2.45	$ 2.43
Weighted-Average Exercise Price, Fully vested and expected to vest	2.45
Weighted-Average Exercise Price, Exercisable	$ 2.45
Weighted-Average Remaining Contractual Term, Outstanding	8 years 8 months 8 days
Weighted-Average Remaining Contractual Term, Fully vested and expected to vest	8 years 8 months 8 days
Weighted-Average Remaining Contractual Term, Exercisable	8 years 8 months 8 days
Aggregate Intrinsic Value, Outstanding	$ 0
Aggregate Intrinsic Value, Fully vested and expected to vest	0
Aggregate Intrinsic Value, Exercisable	$ 0

SHARE-BASED COMPENSATION - Info

SHARE-BASED COMPENSATION - Information for Share Options (Detail) $ / shares in Units, $ in Thousands	May 31, 2019$ / shares	May 31, 2019₱ / shares	Dec. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2018USD ($)$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from the exercise of share options			$ 1,061	$ 2,700	$ 5,018
2006 Share Incentive Plan [Member] | Share options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from the exercise of share options			397	44	1,195
Intrinsic value of share options exercised			$ 747	$ 920	$ 37,239
2011 Share Incentive Plan [Member] | Share options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value | $ / shares			$ 1.21	$ 2.59	$ 3.09
Proceeds from the exercise of share options			$ 664	$ 2,798	$ 3,823
Intrinsic value of share options exercised			$ 129	$ 1,201	$ 3,744
MRP Share Incentive Plan [Member] | Share options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value | (per share)	$ 0.08	₱ 4.23	$ 0	$ 0	$ 0.07

SHARE-BASED COMPENSATION - Su_2

SHARE-BASED COMPENSATION - Summary of Assumptions Used to Estimate Fair Values of Stock Options (Detail)	May 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
2011 Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield		3.10%	2.75%	2.04%
Expected stock price volatility		43.50%	41.81%	40.17%
Risk-free interest rate		0.43%	2.34%	2.62%
Expected term (years)		5 years 7 months 6 days	5 years 7 months 6 days	5 years 6 months 21 days
MRP Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield				0.00%
Expected stock price volatility				45.00%
Risk-free interest rate				5.69%
Expected term (years)				5 years 7 months 6 days
MRP SIP Retirement Arrangement {Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%
Expected stock price volatility	45.00%
Risk-free interest rate	5.81%
Expected term (years)	5 years 8 months 12 days
Melco International Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield			0.40%
Expected stock price volatility			43.33%
Risk-free interest rate			1.17%
Expected term (years)			4 years 10 months 24 days

SHARE-BASED COMPENSATION - Su_3

SHARE-BASED COMPENSATION - Summary of Restricted Shares Activity (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
MRP Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Restricted Shares, Vested			(20,506,393)
Restricted shares [Member] | 2011 Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Restricted Shares, Unvested Beginning Balance	7,105,176
Number of Restricted Shares, Granted	9,497,823
Number of Restricted Shares, Vested	(2,822,235)
Number of Restricted Shares, Forfeited	(424,134)
Number of Restricted Shares, Unvested Ending Balance	13,356,630	7,105,176
Weighted-Average Grant Date Fair Value, Beginning Balance	$ 7.94
Weighted-Average Grant Date Fair Value, Granted	4.17	$ 8.14	$ 9.50
Weighted-Average Grant Date Fair Value, Vested	7.20
Weighted-Average Grant Date Fair Value, Forfeited	6.62
Weighted-Average Grant Date Fair Value, Ending Balance	$ 5.46	$ 7.94
Restricted shares [Member] | MRP Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Restricted Shares, Granted	0	0
Weighted-Average Grant Date Fair Value, Granted	$ 0	$ 0	$ 0.14
Restricted shares [Member] | MRP Share Incentive Plan [Member] | Cash Settled [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Restricted Shares, Unvested Beginning Balance	8,235,686
Number of Restricted Shares, Vested	(5,922,184)
Number of Restricted Shares, Unvested Ending Balance	2,313,502	8,235,686
Weighted-Average Grant Date Fair Value, Beginning Balance	$ 0.16
Weighted-Average Grant Date Fair Value, Vested	0.17
Weighted-Average Grant Date Fair Value, Ending Balance	$ 0.15	$ 0.16
Restricted shares [Member] | Melco International Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Restricted Shares, Unvested Beginning Balance	4,879,000
Number of Restricted Shares, Vested	(1,627,000)
Number of Restricted Shares, Unvested Ending Balance	3,252,000	4,879,000
Weighted-Average Grant Date Fair Value, Beginning Balance	$ 2.43
Weighted-Average Grant Date Fair Value, Vested	2.45
Weighted-Average Grant Date Fair Value, Ending Balance	$ 2.45	$ 2.43

SHARE-BASED COMPENSATION - In_2

SHARE-BASED COMPENSATION - Information for Restricted Shares (Detail) - Restricted shares [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
2011 Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value	$ 4.17	$ 8.14	$ 9.50
Grant date fair value of restricted shares vested	$ 20,317	$ 8,825	$ 13,952
MRP Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value	$ 0	$ 0	$ 0.14
Grant date fair value of restricted shares vested	$ 1,030	$ 2,026	$ 1,747

SHARE-BASED COMPENSATION - Impa

SHARE-BASED COMPENSATION - Impact of Share Options and Restricted Shares (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expenses	$ 57,271	$ 31,797	$ 25,143
Less: Share-based compensation expenses capitalized in property and equipment	(2,879)	0	0
Share-based compensation expenses recognized in general and administrative expenses	54,392	31,797	25,143
2011 Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expenses	49,579	28,466	25,284
MRP Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expenses	671	1,113	141
Melco International Share Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total share-based compensation expenses	$ 7,021	$ 2,218	$ 0

EMPLOYEE BENEFIT PLANS - Additi

EMPLOYEE BENEFIT PLANS - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Contribution Plan Disclosure [Line Items]
Amount of employer contributions into the defined contribution retirement benefits schemes	$ 30,310	$ 33,391	$ 23,409
Voluntary Defined Contribution Scheme Enrolled Employees Macau since July. 1, 2013 [Member] | Minimum [Member]
Defined Contribution Plan Disclosure [Line Items]
Vesting period of employer voluntary contribution	4 years
Voluntary Defined Contribution Scheme Enrolled Employees Macau since July. 1, 2013 [Member] | Maximum [Member]
Defined Contribution Plan Disclosure [Line Items]
Vesting period of employer voluntary contribution	10 years

DISTRIBUTION OF PROFITS - Addit

DISTRIBUTION OF PROFITS - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Reserve Quantities [Line Items]
Aggregate balance of legal reserves	$ 31,524	$ 31,524
Company Type One [Member]
Reserve Quantities [Line Items]
Allocation of profit after tax to legal reserve, minimum percentage	10.00%
Percentage of share capital as the limit of allocation of profit after tax to legal reserve	25.00%
Company Type Two [Member]
Reserve Quantities [Line Items]
Allocation of profit after tax to legal reserve, minimum percentage	25.00%
Percentage of share capital as the limit of allocation of profit after tax to legal reserve	50.00%

DIVIDENDS - Additional Informat

DIVIDENDS - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Mar. 12, 2020	Nov. 22, 2019	Aug. 15, 2019	May 30, 2019	Mar. 14, 2019	Dec. 31, 2018	Nov. 29, 2018	Aug. 15, 2018	May 23, 2018	Mar. 07, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Dividends [Line Items]
Dividends											$ 79,116	$ 300,995	$ 271,531
The period that the quarterly dividend program was suspended											2020-05
Retained Earnings (Accumulated losses) [Member]
Dividends [Line Items]
Dividends											$ 79,116	300,995	270,317
Additional Paid-in Capital [Member]
Dividends [Line Items]
Dividends													$ 1,214
Quarterly Dividend [Member]
Dividends [Line Items]
Dividends paid amount per share	$ 0.05504	$ 0.05504	$ 0.05504	$ 0.0517	$ 0.0517		$ 0.04835	$ 0.04835	$ 0.045	$ 0.045
Dividends						$ 271,531
Quarterly Dividend [Member] | Retained Earnings (Accumulated losses) [Member]
Dividends [Line Items]
Dividends						270,317					$ 79,116	$ 300,995
Quarterly Dividend [Member] | Additional Paid-in Capital [Member]
Dividends [Line Items]
Dividends						$ 1,214

REGULAR LICENSE, COOPERATION _2

REGULAR LICENSE, COOPERATION AGREEMENT, OPERATING AGREEMENT AND MRP LEASE AGREEMENT FOR CITY OF DREAMS MANILA - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020
Provisional License [Member]
Agreements [Line Items]
Effective date of agreement	Mar. 13, 2013
Expected expiry date of agreement	Jul. 11, 2033
Regular License [Member]
Agreements [Line Items]
Date of agreement	Apr. 29, 2015
Expected expiry date of agreement	Jul. 11, 2033
Cooperation Agreement [Member]
Agreements [Line Items]
Effective date of agreement	Mar. 13, 2013
Expected expiry date of agreement	Jul. 11, 2033
Operating Agreement [Member]
Agreements [Line Items]
Effective date of agreement	Mar. 13, 2013
Expected expiry date of agreement	Jul. 11, 2033
MRP Lease Agreement [Member]
Agreements [Line Items]
Effective date of agreement	Mar. 13, 2013
Expected expiry date of agreement	Jul. 11, 2033

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information -Capital Commitments (Detail) $ in Thousands	Dec. 31, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
Capital commitments	$ 771,010

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES - Additional Information - Other Commitments - Gaming Subconcession Macau (Detail)	12 Months Ended
	Dec. 31, 2020MOP (MOP$)Table	Dec. 31, 2020USD ($)Table	Dec. 31, 2020USD ($)
Guarantee until the 180th day after the termination date of the gaming subconcession [Member]
Commitments And Contingencies [Line Items]
Maximum beneficiary amount	MOP$ 300000000		$ 37,569,000
Percentage of guarantee amount payable quarterly to bank	1.75%	1.75%
Special gaming tax [Member]
Commitments And Contingencies [Line Items]
Percentage of gross revenues of the gaming business operations on a monthly basis	35.00%	35.00%
Utilities designated by the local government [Member]
Commitments And Contingencies [Line Items]
Percentage of gross revenues of the gaming business operations on a monthly basis	4.00%	4.00%
Gaming table reserved exclusively for certain kind of games or to certain players [Member]
Commitments And Contingencies [Line Items]
Variable annual premium per unit	MOP$ 300000	$ 37,000
Minimum number of tables	100	100
Gaming table not reserved exclusively for certain kind of games or to certain players [Member]
Commitments And Contingencies [Line Items]
Variable annual premium per unit	MOP$ 150000	$ 19,000
Minimum number of tables	100	100
Electrical or mechanical gaming machine [Member]
Commitments And Contingencies [Line Items]
Variable annual premium per unit	MOP$ 1000	$ 100
Gaming subconcession macau agreement [member]
Commitments And Contingencies [Line Items]
Fixed annual premium	MOP$ 30000000	$ 3,757,000

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES - Additional Information - Other Commitments - Regular License Philippines (Detail) - 12 months ended Dec. 31, 2020 $ in Thousands	PHP (₱)	USD ($)
Commitments And Contingencies [Line Items]
Cultural heritage fee percentage of casino revenues generated from non-junket operation tables payable to a foundation	2.00%	2.00%
Additional fee percentage on non-gaming revenues payable to PAGCOR	5.00%	5.00%
Grounds for revocation of the regular license - Number of days of failing to remit the license fees upon the receipt of notice of default	30 days	30 days
Grounds for revocation of the regular license - Exceeding the Debt-to-equity ratio	2.33	2.33
Melco Resorts Leisure (PHP) Corporation [Member]
Commitments And Contingencies [Line Items]
Franchise tax on the gross revenue or earnings	5.00%	5.00%
PAGCOR [Member]
Commitments And Contingencies [Line Items]
Amount of surety bond required to ensure prompt and punctual remittance/payment of license fees	₱ 100,000,000	$ 2,082
High Roller Tables [Member]
Commitments And Contingencies [Line Items]
Monthly license fees range as a percentage of gross gaming revenue payable to PAGCOR	15.00%	15.00%
Non-High Roller Tables [Member]
Commitments And Contingencies [Line Items]
Monthly license fees range as a percentage of gross gaming revenue payable to PAGCOR	25.00%	25.00%
Slot Machines And Electronic Gaming Machines [Member]
Commitments And Contingencies [Line Items]
Monthly license fees range as a percentage of gross gaming revenue payable to PAGCOR	25.00%	25.00%
Junket Operation [Member]
Commitments And Contingencies [Line Items]
Monthly license fees range as a percentage of gross gaming revenue payable to PAGCOR	15.00%	15.00%

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES - Additional Information - Guarantees (Detail) $ in Thousands	1 Months Ended		12 Months Ended
	Oct. 31, 2013USD ($)	Oct. 31, 2013HKD ($)	Dec. 31, 2020PHP (₱)Agreement	Dec. 31, 2020USD ($)Agreement	Dec. 31, 2020MOP (MOP$)Agreement
Commitments And Contingencies [Line Items]
Amount of promissory note issued to a bank for bank guarantee to Macau Government under gaming subconcession				$ 68,876	MOP$ 550000000
PAGCOR [Member]
Commitments And Contingencies [Line Items]
Amount of surety bond required to ensure prompt and punctual remittance/payment of license fees			₱ 100,000,000	$ 2,082
City of Dreams [Member]
Commitments And Contingencies [Line Items]
Number of deeds of guarantee with third parties | Agreement			2	2	2
Aggregate amount of deeds of guarantee with third parties to guarantee certain payment obligations				$ 35,000
Studio City [Member] | Trade Credit Facility [Member]
Commitments And Contingencies [Line Items]
Amount entered with a bank to meet certain payment obligations	$ 25,797	$ 200,000,000
Credit facility utilized				$ 645
Credit facility, maturity date			Aug. 31, 2019	Aug. 31, 2019	Aug. 31, 2019
Studio City [Member] | Trade Credit Facility [Member] | Extended Maturity [Member]
Commitments And Contingencies [Line Items]
Credit facility, maturity date			Aug. 31, 2021	Aug. 31, 2021	Aug. 31, 2021

COMMITMENTS AND CONTINGENCIES_5

COMMITMENTS AND CONTINGENCIES - Additional Information - Other Commitments - Gaming License in Cyprus (Detail) - Cyprus License Agreement [Member] $ in Thousands	Jun. 26, 2017EUR (€)Satellite	Jun. 26, 2017USD ($)	Feb. 28, 2021	Jun. 26, 2017USD ($)Satellite
Commitments and Contingencies [Line Items]
Maximum number of satellite casino premises granted	4			4
Percentage of gross gaming revenues as the casino tax during the exclusive period	15.00%			15.00%
License term	30 years	30 years
Exclusive period commenced at the start of the license term	15 years	15 years
Penalty payable per day for failing to open by the opening date	€ 10,000			$ 12
Maximum Penalty Payable For Failing To Open By The Opening Date	€ 1,000,000			$ 1,230
Opening date of the integrated casino resort as defined in the license agreement	Apr. 30, 2021	Apr. 30, 2021
Number of business days past the opening date that the license may be terminated	100 days	100 days
Extended opening date of the integrated casino resort			Sep. 30, 2022
Three operating satellite casinos [Member]
Commitments and Contingencies [Line Items]
Annual license fee	€ 2,000,000	$ 2,459
First Four Years [Member] | Temporary Casino And Integrated Casino Resort [Member]
Commitments and Contingencies [Line Items]
Annual license fee	2,500,000	3,074
Second Four Years [Member] | Temporary Casino And Integrated Casino Resort [Member]
Commitments and Contingencies [Line Items]
Annual license fee	5,000,000	6,149
After completion of the first eight years [Member]
Commitments and Contingencies [Line Items]
Minimum annual license fee	€ 5,000,000	$ 6,149
Maximum increase in annual license fee compared to license fee paid annually during the previous four-year period	20.00%	20.00%
Duration that the license fee may be reviewed periodically	4 years	4 years

RELATED PARTY TRANSACTIONS - Sc

RELATED PARTY TRANSACTIONS - Schedule of Significant Related Party Transactions (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Costs and expenses (services provided to the Company):
Share-based compensation expenses		$ 54,392	$ 31,797	$ 25,143
Purchase of property and equipment		464,253	471,121	562,972
Melco International and its Subsidiaries | Transactions with affiliated companies [Member]
Revenues (services provided by the Company):
Shared service fee income for corporate office		1,521	1,366	3,044
Costs and expenses (services provided to the Company):
Management fee expenses	[1]	1,477	2,798	4,339
Share-based compensation expenses	[2]	$ 7,021	2,218
Melco International and its Subsidiaries | Transactions with affiliated companies [Member] | Cyprus Project [Member]
Revenues (services provided by the Company):
Management fee income	[3]		1,056	1,903
Costs and expenses (services provided to the Company):
Management fee expenses	[3]		1,316	3,790
A joint venture and a subsidiary of MECOM Power and Construction Limited ("MECOM")( [Member] | Transactions with affiliated companies [Member]
Costs and expenses (services provided to the Company):
Consultancy fee expense	[4]		10,031	11,723
Purchase of property and equipment	[4]		$ 10,174	$ 13,481
[1]	The amount mainly represents management fee expenses for the services provided by the senior management of Melco International and for the operation of the office of Melco’s Chief Executive Officer.
[2]	The amount represents the share-based compensation expenses related to the grant of certain share-based awards under Melco International Share Incentive Plan to an employee of the Company. Further information on the share-based compensation arrangements is included in Note 17.
[3]	The amount mainly represents management fee income for services provided by the Company to Melco International for management and operation for the project in Cyprus, and such amount was further recharged with mark-up by a subsidiary of Melco International to ICR Cyprus Group. The amount represents the transactions for the period up to the completion of the Acquisition of ICR Cyprus on July 31, 2019 as described in Note 25.
[4]	A company in which Mr. Lawrence Yau Lung Ho, Melco’s Chief Executive Officer, had beneficial interest of approximately 20% until December 10, 2019, the date on which Mr. Lawrence Yau Lung Ho disposed his entire beneficial interest in MECOM. The amount in 2019 represents the transactions with a joint venture and a subsidiary of MECOM during the period from January 1, 2019 to December 10, 2019.

RELATED PARTY TRANSACTIONS - _2

RELATED PARTY TRANSACTIONS - Schedule of Significant Related Party Transactions (Parenthetical) (Detail)	Dec. 31, 2019	Dec. 31, 2018
Subsidiary of MECOM Power and Construction Limited [Member] | Chief Executive Officer [Member]
Related Party Transaction [Line Items]
Share percentage holding by chief executive officer	20.00%	20.00%

RELATED PARTY TRANSACTIONS - _3

RELATED PARTY TRANSACTIONS - Schedule of Outstanding Balances Arising from Operating Income or Prepayment of Operating Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Amounts due from affiliated companies	$ 765	$ 442
Melco International and its subsidiaries | Transactions with affiliated companies [Member]
Related Party Transaction [Line Items]
Amounts due from affiliated companies	$ 765	$ 442

RELATED PARTY TRANSACTIONS - _4

RELATED PARTY TRANSACTIONS - Schedule of Current Portion of Amounts Due to Affiliated Companies Arising from Construction and Renovation Works Performed (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Amounts due to affiliated companies	$ 1,668	$ 1,523
Melco International and its subsidiaries [Member] | Transactions with affiliated companies [Member]
Related Party Transaction [Line Items]
Amounts due to affiliated companies	1,656	1,088
Other [Member] | Transactions with affiliated companies [Member]
Related Party Transaction [Line Items]
Amounts due to affiliated companies	$ 12	$ 435

SEGMENT INFORMATION - Additiona

SEGMENT INFORMATION - Additional Information (Detail)	Dec. 31, 2020Region
Geographic [Member]
Concentration Risk [Line Items]
Number of geographic areas	3

SEGMENT INFORMATION - Total Ass

SEGMENT INFORMATION - Total Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total consolidated assets	$ 9,020,967	$ 9,488,422	$ 9,121,996
Macau [Member]
Segment Reporting Information [Line Items]
Total consolidated assets	7,135,896	7,191,107	7,512,822
Mocha Clubs [Member] | Macau [Member]
Segment Reporting Information [Line Items]
Total consolidated assets	132,304	145,919	120,789
Altira Macau [Member] | Macau [Member]
Segment Reporting Information [Line Items]
Total consolidated assets	307,657	429,980	376,655
City of Dreams [Member] | Macau [Member]
Segment Reporting Information [Line Items]
Total consolidated assets	3,288,051	3,461,487	3,636,732
Studio City [Member] | Macau [Member]
Segment Reporting Information [Line Items]
Total consolidated assets	3,407,884	3,153,721	3,378,646
City of Dreams Manila [Member] | The Philippines [Member]
Segment Reporting Information [Line Items]
Total consolidated assets	613,664	721,205	644,481
Cyprus Operations [Member] | Cyprus [Member]
Segment Reporting Information [Line Items]
Total consolidated assets	326,047	261,106	247,729
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Total consolidated assets	$ 945,360	$ 1,315,004	$ 716,964

SEGMENT INFORMATION - Capital E

SEGMENT INFORMATION - Capital Expenditures (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total capital expenditures	$ 464,253	$ 471,121	$ 562,972
Macau [Member]
Segment Reporting Information [Line Items]
Total capital expenditures	348,648	248,248	418,053
Mocha Clubs [Member] | Macau [Member]
Segment Reporting Information [Line Items]
Total capital expenditures	3,490	6,620	8,973
Altira Macau [Member] | Macau [Member]
Segment Reporting Information [Line Items]
Total capital expenditures	11,519	17,707	24,450
City of Dreams [Member] | Macau [Member]
Segment Reporting Information [Line Items]
Total capital expenditures	119,014	134,075	311,441
Studio City [Member] | Macau [Member]
Segment Reporting Information [Line Items]
Total capital expenditures	214,625	89,846	73,189
City of Dreams Manila [Member] | The Philippines [Member]
Segment Reporting Information [Line Items]
Total capital expenditures	15,622	58,697	22,572
Cyprus Operations [Member] | Cyprus [Member]
Segment Reporting Information [Line Items]
Total capital expenditures	74,523	39,911	68,238
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Total capital expenditures	$ 25,460	$ 124,265	$ 54,109

SEGMENT INFORMATION - Results o

SEGMENT INFORMATION - Results of Operations (Detail) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating revenues
Total operating revenues		$ 1,727,923	$ 5,736,801	$ 5,188,942
Adjusted property EBITDA
Total adjusted property EBITDA		(104,276)	1,689,472	1,486,363
Operating costs and expenses:
Payments to the Philippine Parties		(12,989)	(57,428)	(60,778)
Pre-opening costs		(1,322)	(4,847)	(55,390)
Development costs		(25,616)	(57,433)	(23,029)
Amortization of gaming subconcession		(57,411)	(56,841)	(56,809)
Amortization of land use rights		(22,886)	(22,659)	(22,646)
Depreciation and amortization		(538,233)	(571,705)	(488,446)
Land rent to Belle		(3,195)	(3,061)	(3,001)
Share-based compensation		(54,392)	(31,797)	(25,143)
Property charges and other		(47,223)	(20,815)	(29,147)
Corporate and Other expenses		(73,014)	(115,208)	(108,527)
Total operating costs and expenses		(836,281)	(941,794)	(872,916)
Operating (loss) income		(940,557)	747,678	613,447
Non-operating income (expenses):
Interest income		5,134	9,311	5,471
Interest expenses, net of amounts capitalized		(340,839)	(310,102)	(264,880)
Other financing costs		(7,955)	(2,738)	(4,630)
Foreign exchange losses, net		(2,079)	(10,756)	(10,497)
Other (expenses) income, net		(150,969)	(23,914)	3,684
Loss on extinguishment of debt		(19,952)	(6,333)	(3,461)
Costs associated with debt modification		(310)	(579)	0
Total non-operating expenses, net		(516,970)	(345,111)	(274,313)
(Loss) income before income tax		(1,457,527)	402,567	339,134
Income tax credit (expense)		2,913	(8,339)	(238)
Net (loss) income		(1,454,614)	394,228	338,896
Net loss (income) attributable to noncontrolling interests		191,122	(21,055)	1,403
Net (loss) income attributable to Melco Resorts & Entertainment Limited		(1,263,492)	373,173	340,299
Corporate and Other [Member]
Operating revenues
Total operating revenues		25,913	51,250	46,271
Macau [Member]
Operating revenues
Total operating revenues		1,426,317	4,988,341	4,496,773
Adjusted property EBITDA
Total adjusted property EBITDA	[1]	(135,539)	1,412,624	1,208,703
Macau [Member] | Mocha Clubs [Member]
Operating revenues
Total operating revenues		65,322	117,473	113,432
Adjusted property EBITDA
Total adjusted property EBITDA	[1]	3,560	23,280	21,490
Macau [Member] | Altira Macau [Member]
Operating revenues
Total operating revenues		108,854	465,056	471,292
Adjusted property EBITDA
Total adjusted property EBITDA	[1]	(58,773)	51,470	55,547
Macau [Member] | City of Dreams [Member]
Operating revenues
Total operating revenues		985,619	3,050,491	2,543,649
Adjusted property EBITDA
Total adjusted property EBITDA	[1]	(1,326)	922,776	756,378
Macau [Member] | Studio City [Member]
Operating revenues
Total operating revenues		266,522	1,355,321	1,368,400
Adjusted property EBITDA
Total adjusted property EBITDA	[1]	(79,000)	415,098	375,288
The Philippines [Member] | City of Dreams Manila [Member]
Operating revenues
Total operating revenues		224,688	602,479	612,947
Adjusted property EBITDA
Total adjusted property EBITDA		28,983	247,091	269,199
Cyprus [Member] | Cyprus Operations [Member]
Operating revenues
Total operating revenues		51,005	94,731	32,951
Adjusted property EBITDA
Total adjusted property EBITDA		$ 2,280	$ 29,757	$ 8,461
[1]	“Adjusted property EBITDA” is net (loss) income before interest, taxes, depreciation, amortization, pre-opening costs, development costs, property charges and other, share-based compensation, payments to the Philippine Parties, land rent to Belle, Corporate and Other expenses, and other non-operating income and expenses. The Company uses Adjusted property EBITDA to measure the operating performance of Mocha Clubs, Altira Macau, City of Dreams, Studio City, City of Dreams Manila and Cyprus Operations and to compare the operating performance of its properties with those of its competitors.

SEGMENT INFORMATION - Long-Live

SEGMENT INFORMATION - Long-Lived Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Long-Lived Assets [Line Items]
Total long-lived assets	$ 6,720,754	$ 6,844,648	$ 6,854,357
Macau [Member]
Long-Lived Assets [Line Items]
Total long-lived assets	6,054,014	6,207,746	6,287,324
The Philippines [Member]
Long-Lived Assets [Line Items]
Total long-lived assets	369,664	398,110	381,866
Cyprus [Member]
Long-Lived Assets [Line Items]
Total long-lived assets	232,374	152,066	124,072
Hong Kong and other foreign countries [Member]
Long-Lived Assets [Line Items]
Total long-lived assets	$ 64,702	$ 86,726	$ 61,095

ACQUISITION OF SUBSIDIARIES - A

ACQUISITION OF SUBSIDIARIES - Additional Information (Detail) $ in Thousands	Nov. 28, 2019USD ($)	Nov. 28, 2019JPY (¥)	Jul. 31, 2019USD ($)shares	Dec. 31, 2019USD ($)
Business Acquisition [Line Items]
Goodwill from acquisition				$ 13,731
ICR Cyprus [Member]
Business Acquisition [Line Items]
Percentage of voting interest acquired			75.00%
Acquisition shares issued | shares			55,500,738
Increase in additional paid in capital			$ 192,304
ICR Cyprus [Member] | American Depositary Share ADS [Member]
Business Acquisition [Line Items]
Acquisition shares issued | shares			18,500,246
Japan Ski Resort [Member]
Business Acquisition [Line Items]
Percentage of voting interest acquired	100.00%	100.00%
Business acquisition consideration	$ 15,394	¥ 1,685,000,000
Goodwill from acquisition	$ 13,731

CHANGES IN SHAREHOLDINGS OF S_3

CHANGES IN SHAREHOLDINGS OF SUBSIDIARIES - Additional Information (Detail) ₱ / shares in Units, $ / shares in Units, $ in Thousands

Dec. 10, 2018USD ($)shares

Dec. 10, 2018USD ($)shares

Dec. 10, 2018PHP (₱)shares

Oct. 31, 2018₱ / sharesshares

Oct. 31, 2018$ / sharesshares

Aug. 31, 2020USD ($)shares

Dec. 31, 2020USD ($)shares

Dec. 31, 2019USD ($)

Dec. 31, 2018USD ($)shares

Dec. 31, 2020₱ / shares

Dec. 31, 2020$ / shares

May 31, 2019₱ / shares

May 31, 2019$ / shares

Dec. 10, 2018PHP (₱)

Studio City [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Total transfer from (to) noncontrolling interests of Melco Resorts & Entertainment Limited | $

$ 42

$ (31,845)

Decrease in additional paid-in capital resulting from an initial public offering of Studio City International | $

$ 31,845

Increase in additional paid-in capital resulting from the private placements | $

$ 42

$ 42

Studio City [Member] | Private Placement [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Proceeds from Issuance of Private Placement | $

500,000

Proceeds from issuance of private placement from noncontrolling interest | $

$ 219,198

Studio City [Member] | Class A Ordinary Shares [Member] | Private Placement [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Stock issued during period, shares

72,185,488

Studio City [Member] | Class A Ordinary Shares [Member] | IPO, private placement to Melco International [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Stock issued during period, shares

800,376

Studio City [Member] | American Depositary Share (ADS) [Member] | Private Placement [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Stock issued during period, shares

14,087,299

Studio City [Member] | American Depositary Share (ADS) [Member] | IPO, over-allotment option [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Stock issued during period, shares

4,312,500

Studio City [Member] | American Depositary Share (ADS) [Member] | IPO, excluding private placement to Melco International and over-allotment option [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Stock issued during period, shares

28,750,000

Studio City [Member] | Equivalent Class A Ordinary Shares for ADS [Member] | Private Placement [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Stock issued during period, shares

56,349,196

Studio City [Member] | Equivalent Class A Ordinary Shares for ADS [Member] | IPO, over-allotment option [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Stock issued during period, shares

17,250,000

Studio City [Member] | Equivalent Class A Ordinary Shares for ADS [Member] | IPO, excluding private placement to Melco International and over-allotment option [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Stock issued during period, shares

115,000,000

MRP Share Incentive Plan [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Decrease in additional paid-in capital resulting from the vesting of restricted shares | $

$ 573

Number of restricted shares, Vested

20,506,393

Business acquisition number of shares owned in reverse stock split

500,000

Share price | (per share)

₱ 1

$ 0.02

MRP Share Incentive Plan [Member] | Restricted shares [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Share price | (per share)

₱ 7.25

$ 0.14

Melco International Share Incentive Plan [Member] | Restricted shares [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Number of restricted shares, Vested

1,627,000

Share price | (per share)

₱ 7.25

$ 0.14

Melco Resorts and Entertainment (Philippines) [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Decrease in additional paid-in capital resulting from purchases of common shares of MRP from the open market and the Tender Offer | $

$ 46

$ 140,999

Total transfer from (to) noncontrolling interests of Melco Resorts & Entertainment Limited | $

(62)

(30)

(141,572)

Decrease in additional paid-in capital resulting from certain transactions during the period | $

$ 62

$ 30

Melco Resorts and Entertainment (Philippines) [Member] | Purchases from the open market [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Common stock purchased, shares

107,475,300

107,475,300

Common stock purchased, value

$ 14,779

₱ 779,196,000

Melco Resorts and Entertainment (Philippines) [Member] | Tender Offer [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Outstanding number of common shares to be acquired

1,569,786,768

1,569,786,768

Price per share | (per share)

₱ 7.25

$ 0.14

Total price of common shares tendered

$ 184,055

184,055

₱ 9,703,963,000

Number of common shares tendered

1,338,477,668

Melco Resorts and Entertainment (Philippines) [Member] | Purchases From The Open Market And The Tender Offer [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Decrease in additional paid-in capital resulting from purchases of common shares of MRP from the open market and the Tender Offer | $

$ 140,999

Melco Resorts and Entertainment (Philippines) [Member] | Restricted shares [Member]

Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]

Decrease in additional paid-in capital resulting from the vesting of restricted shares | $

$ 573

CHANGES IN SHAREHOLDINGS OF S_4

CHANGES IN SHAREHOLDINGS OF SUBSIDIARIES - Effects of Changes in Company's Ownership Interest (Detail) - USD ($) $ in Thousands	2 Months Ended	12 Months Ended
	Aug. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Net (loss) income attributable to Melco Resorts & Entertainment Limited		$ (1,263,492)	$ 373,173	$ 340,299
Transfers (to) from noncontrolling interests:
Changes from net (loss) income attributable to Melco Resorts & Entertainment Limited's shareholders and transfers from noncontrolling interests		(1,263,512)	373,143	166,882
Melco Resorts and Entertainment (Philippines) [Member]
Transfers (to) from noncontrolling interests:
Decrease in additional paid-in capital resulting from the issuance of common shares of MRP to independent directors		(16)	(30)
Decrease in additional paid-in capital resulting from purchases of common shares of MRP from the open market and the Tender Offer		(46)		(140,999)
Sub-total		(62)	(30)	(141,572)
Restricted shares [Member] | Melco Resorts and Entertainment (Philippines) [Member]
Transfers (to) from noncontrolling interests:
Decrease in additional paid-in capital resulting from the vesting of restricted shares under the MRP Share Incentive Plan				(573)
Studio City [Member]
Transfers (to) from noncontrolling interests:
Decrease in additional paid-in capital resulting from initial public offering of Studio City International				(31,845)
Increase in additional paid-in capital resulting from the private placements of Studio City International	$ 42	42
Sub-total		$ 42		$ (31,845)

SUBSEQUENT EVENTS - Additional

SUBSEQUENT EVENTS - Additional Information (Detail) ₱ in Thousands, € in Thousands, $ in Thousands

Mar. 31, 2021PHP (₱)

Mar. 26, 2021

Mar. 22, 2021USD ($)

Mar. 22, 2021PHP (₱)

Feb. 28, 2021USD ($)

Feb. 28, 2021EUR (€)

Feb. 17, 2021USD ($)

Jan. 21, 2021USD ($)

Jan. 21, 2021HKD ($)

Jan. 14, 2021USD ($)

Jan. 04, 2021

Dec. 31, 2020USD ($)

Dec. 31, 2019USD ($)

Dec. 31, 2018USD ($)

Jan. 11, 2021USD ($)

Subsequent Event [Line Items]

Total long-term debt

$ 5,700,168

$ 4,451,278

Repayments of long-term debt

$ 1,454,837

$ 2,592,631

$ 592,573

Percentage of tax on estimated taxable income

12.00%

12.00%

12.00%

Philippine Corporate Income Tax [Member]

Subsequent Event [Line Items]

Percentage of tax on estimated taxable income

30.00%

30.00%

30.00%

Land, Buildings and Improvements [Member] | COVID-19 [Member] | 2020 [Member] | MRP Lease Amendment Agreement [Member]

Subsequent Event [Line Items]

Lease Rent Concession

$ 42,900

₱ 2,060,000,000

Land, Buildings and Improvements [Member] | Minimum [Member] | COVID-19 [Member] | 2021 [Member] | MRP Lease Amendment Agreement [Member]

Subsequent Event [Line Items]

Lease Rent Concession | ₱

₱ 1,670,000,000

Land, Buildings and Improvements [Member] | Maximum [Member] | COVID-19 [Member] | 2021 [Member] | MRP Lease Amendment Agreement [Member]

Subsequent Event [Line Items]

Lease Rent Concession

$ 34,702

Subsequent Event [Member] | Minimum [Member] | Philippine Corporate Income Tax [Member] | July 1, 2020 until June 30, 2023 [Member]

Subsequent Event [Line Items]

Percentage of tax on estimated taxable income

1.00%

Subsequent Event [Member] | Minimum [Member] | Philippine Corporate Income Tax [Member] | July 1, 2020 [Member]

Subsequent Event [Line Items]

Percentage of tax on estimated taxable income

25.00%

Subsequent Event [Member] | Maximum [Member] | Philippine Corporate Income Tax [Member] | July 1, 2020 until June 30, 2023 [Member]

Subsequent Event [Line Items]

Percentage of tax on estimated taxable income

2.00%

Subsequent Event [Member] | Maximum [Member] | Philippine Corporate Income Tax [Member] | July 1, 2020 [Member]

Subsequent Event [Line Items]

Percentage of tax on estimated taxable income

30.00%

Subsequent Event [Member] | 2019 7.250% Studio City Notes [Member]

Subsequent Event [Line Items]

Maturity date

Jan. 11, 2021

Debt Instrument Redemption Amount

$ 252,944

Subsequent Event [Member] | 2021 5.000% Studio City Notes, due 2029 [Member]

Subsequent Event [Line Items]

Total long-term debt

$ 750,000

Interest rate per annum

5.00%

Purchase price as percentage of principal

100.00%

Subsequent Event [Member] | 2019 5.375% Senior Notes [Member]

Subsequent Event [Line Items]

Total long-term debt

$ 250,000

Interest rate per annum

5.375%

Purchase price as percentage of principal

103.25%

103.25%

Subsequent Event [Member] | 2020 Credit Facilities [Member]

Subsequent Event [Line Items]

Repayments of long-term debt

$ 249,887

$ 1,937,500,000

Conditional Tender Offer [Member] | Subsequent Event [Member] | 2019 7.250% Studio City Notes [Member]

Subsequent Event [Line Items]

Total long-term debt

$ 347,056

Electricity Authority Cyprus Agreement [Member] | Freehold land [Member]

Subsequent Event [Line Items]

Proceeds from Sale of Land

$ 1,045

€ 850,000

Electricity Authority Cyprus Agreement [Member] | Substation Building [Member]

Subsequent Event [Line Items]

Proceeds from sale of Building

$ 3,168

€ 2,576,000

ADDITIONAL INFORMATION - FINA_2

ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY - BALANCE SHEETS (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 1,755,351	$ 1,394,982
Amounts due from affiliated companies	765	442
Prepaid expenses and other current assets	85,798	84,197
Total current assets	2,008,823	1,894,672
Deferred tax assets	6,376	3,558
Total assets	9,020,967	9,488,422	$ 9,121,996
Current liabilities:
Accrued expenses and other current liabilities	983,865	1,420,516
Income tax payable	14,164	8,516
Amount due to an affiliated company	1,668	1,523
Total current liabilities	1,116,250	1,525,460
Other long-term liabilities	29,213	18,773
Total liabilities	7,182,896	6,345,194
Shareholders' equity
Ordinary shares, par value $0.01; 7,300,000,000 shares authorized; 1,456,547,942 and 1,456,547,942 shares issued; 1,430,965,312 and 1,437,328,096 shares outstanding, respectively	14,565	14,565
Treasury shares, at cost; 25,582,630 and 19,219,846 shares, respectively	(121,028)	(90,585)
Additional paid-in capital	3,207,312	3,178,579
Accumulated other comprehensive losses	(11,332)	(18,803)
Accumulated losses	(1,987,396)	(644,788)
Total Melco Resorts & Entertainment Limited shareholders' equity	1,102,121	2,438,968
Total liabilities and shareholders' equity	9,020,967	9,488,422
Parent Company [Member]
Current assets:
Cash and cash equivalents	36,213	48,645
Amounts due from affiliated companies	150,651	149,580
Prepaid expenses and other current assets	4,044	6,244
Total current assets	190,908	204,469
Investments in subsidiaries	1,917,223	3,147,298
Deferred tax assets	6,015	3,557
Total assets	2,114,146	3,355,324
Current liabilities:
Accrued expenses and other current liabilities	20,488	10,240
Income tax payable	931	931
Amount due to an affiliated company	174,989	91,542
Total current liabilities	196,408	102,713
Other long-term liabilities	3,419	5,130
Advances from affiliated companies	812,198	808,513
Total liabilities	1,012,025	916,356
Shareholders' equity
Ordinary shares, par value $0.01; 7,300,000,000 shares authorized; 1,456,547,942 and 1,456,547,942 shares issued; 1,430,965,312 and 1,437,328,096 shares outstanding, respectively	14,565	14,565
Treasury shares, at cost; 25,582,630 and 19,219,846 shares, respectively	(121,028)	(90,585)
Additional paid-in capital	3,207,312	3,178,579
Accumulated other comprehensive losses	(11,332)	(18,803)
Accumulated losses	(1,987,396)	(644,788)
Total Melco Resorts & Entertainment Limited shareholders' equity	1,102,121	2,438,968
Total liabilities and shareholders' equity	$ 2,114,146	$ 3,355,324

ADDITIONAL INFORMATION - FINA_3

ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY - BALANCE SHEETS (Detail) (Parenthetical) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary shares, par value	$ 0.01	$ 0.01
Ordinary shares, authorized	7,300,000,000	7,300,000,000
Ordinary shares, issued	1,456,547,942	1,456,547,942
Ordinary shares, outstanding	1,430,965,312	1,437,328,096
Treasury shares, shares	25,582,630	19,219,846
Parent Company [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary shares, par value	$ 0.01	$ 0.01
Ordinary shares, authorized	7,300,000,000	7,300,000,000
Ordinary shares, issued	1,456,547,942	1,456,547,942
Ordinary shares, outstanding	1,430,965,312	1,437,328,096
Treasury shares, shares	25,582,630	19,219,846

ADDITIONAL INFORMATION - FINA_4

ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY - STATEMENTS OF OPERATIONS (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Income Statements, Captions [Line Items]
Operating revenues	$ 1,727,923	$ 5,736,801	$ 5,188,942
Operating costs and expenses:
General and administrative	424,398	559,480	505,930
Development costs	25,616	57,433	23,029
Property charges and other	47,223	20,815	29,147
Total operating costs and expenses	2,668,480	4,989,123	4,575,495
Operating loss	(940,557)	747,678	613,447
Non-operating income (expenses):
Interest income	5,134	9,311	5,471
Foreign exchange losses, net	(2,079)	(10,756)	(10,497)
Other income, net	(150,969)	(23,914)	3,684
Total non-operating (expenses) income, net	(516,970)	(345,111)	(274,313)
(Loss) income before income tax	(1,457,527)	402,567	339,134
Income tax credit	(2,913)	8,339	238
Net (loss) income	(1,454,614)	394,228	338,896
Parent Company [Member]
Condensed Income Statements, Captions [Line Items]
Operating revenues	14,614	18,381	18,267
Operating costs and expenses:
General and administrative	(60,688)	(47,689)	(41,204)
Development costs	(30,242)	(50,795)	(24,095)
Property charges and other	(3,782)	0	0
Total operating costs and expenses	(94,712)	(98,484)	(65,299)
Operating loss	(80,098)	(80,103)	(47,032)
Non-operating income (expenses):
Interest income	58	305	129
Foreign exchange losses, net	(4,871)	(1,983)	(6,958)
Other income, net	14,530	11,627	10,636
Share of results of subsidiaries	(1,195,569)	442,325	378,951
Total non-operating (expenses) income, net	(1,185,852)	452,274	382,758
(Loss) income before income tax	(1,265,950)	372,171	335,726
Income tax credit	2,458	1,002	4,573
Net (loss) income	$ (1,263,492)	$ 373,173	$ 340,299

ADDITIONAL INFORMATION - FINA_5

ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY - COMPREHENSIVE (LOSS) INCOME (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Statement of Income Captions [Line Items]
Net (loss) income	$ (1,454,614)	$ 394,228	$ 338,896
Other comprehensive income (loss):
Other comprehensive income (loss)	20,394	48,734	(48,900)
Total comprehensive (loss) income	(1,256,021)	413,702	306,427
Parent Company [Member]
Condensed Statement of Income Captions [Line Items]
Net (loss) income	(1,263,492)	373,173	340,299
Other comprehensive income (loss):
Foreign currency translation adjustments, before and after tax	7,471	40,529	(33,872)
Other comprehensive income (loss)	7,471	40,529	(33,872)
Total comprehensive (loss) income	$ (1,256,021)	$ 413,702	$ 306,427

ADDITIONAL INFORMATION - FINA_6

ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY - CASH FLOWS (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net cash (used in) provided by operating activities	$ (860,963)	$ 836,162	$ 1,053,369
Cash flow from an investing activity:
Net cash used in investing activities	(53,312)	(1,031,849)	(662,121)
Cash flows from financing activities:
Dividends paid	(79,116)	(300,995)	(271,531)
Repurchase of shares	(44,977)	0	(655,652)
Proceeds from exercise of share options	1,061	2,700	5,018
Net cash provided by (used in) financing activities	1,263,607	97,114	(340,517)
Increase (decrease) in cash, cash equivalents and restricted cash	323,268	(88,087)	38,107
Cash, cash equivalents and restricted cash at beginning of year	1,432,502	1,520,589	1,482,482
Cash, cash equivalents and restricted cash at end of year	1,755,770	1,432,502	1,520,589
Parent Company [Member]
Cash flows from operating activities:
Net cash (used in) provided by operating activities	389,520	413,044	156,698
Cash flow from an investing activity:
Advances to subsidiaries	(282,605)	(100,065)	(14,404)
Net cash used in investing activities	(282,605)	(100,065)	(14,404)
Cash flows from financing activities:
Dividends paid	(79,116)	(300,995)	(271,531)
Repurchase of shares	(44,977)	0	(655,652)
Proceeds from exercise of share options	1,061	2,700	5,018
Advance from subsidiary	3,685	24,281	784,232
Net cash provided by (used in) financing activities	(119,347)	(274,014)	(137,933)
Increase (decrease) in cash, cash equivalents and restricted cash	(12,432)	38,965	4,361
Cash, cash equivalents and restricted cash at beginning of year	48,645	9,680	5,319
Cash, cash equivalents and restricted cash at end of year	36,213	48,645	9,680
Supplemental cash flow disclosures:
Cash refund for income taxes	0	638	0
Repurchase of shares included in accrued expenses and other current liabilities	$ 0	$ 0	$ 1,670

ADDITIONAL INFORMATION - FINA_7

ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 FINANCIAL INFORMATION OF PARENT COMPANY - NOTES TO FINANCIAL STATEMENT SCHEDULE 1 - Additional Information (Detail) - Parent Company [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Net assets restricted from distribution	$ 1,288,000
Cash dividend received	$ 325,000	$ 400,000	$ 400,000
Minimum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Percentage threshold of restricted net assets of consolidated and unconsolidated subsidiaries	25.00%