Explanatory Note
Melco Resorts & Entertainment Limited (the “Company”) filed its annual report on Form 20-F for the fiscal year ended December 31, 2023 on March 22, 2024 (the “Annual Report”).
This Amendment (“Amendment”) to the Report of Foreign Private Issuer on Form 6-K originally furnished to the Commission on March 1, 2024 (the “Original Form 6-K”) is being furnished solely to adjust certain items contained in Exhibit 99.1 to the Original Form 6-K in relation to the unaudited financial results for the fourth quarter and full year ended December 31, 2023 as described herein.
Subsequent to furnishing the Original Form 6-K, the Company concluded its assessment of the realizability of its net deferred tax assets in light of its cumulative consolidated net losses over the past three years. Deferred tax assets, net, as of December 31, 2023 was recorded as US$49.3 million in the Original Form 6-K and in the Annual Report is reduced to nil. As a result of such determination and consistent with the Company’s Annual Report, the impacted items on the balance sheet and statement of operations as of and for the three months and year ended December 31, 2023 as set forth in the Original Form 6-K are adjusted as reflected below.
This Amendment makes no other changes to the Original Form 6-K, does not reflect subsequent events occurring after the initial furnishing of the Original Form 6-K (i.e., those events occurring after December 31, 2023), and should be read in conjunction with the Company’s reports on Form 6-K furnished, and our other filings made, with the SEC.
Fourth Quarter 2023 Results
Net loss attributable to the Company for the fourth quarter of 2023 was US$205.9 million, or US$0.47 per ADS, compared with US$251.9 million, or US$0.57 per ADS, in the fourth quarter of 2022.
Full Year Results
Net loss attributable to the Company for 2023 was US$326.9 million, or US$0.75 per ADS, compared with US$930.5 million, or US$2.01 per ADS, for 2022.
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