Bulletin: Melco To Prioritize Debt Reduction Amid Slower EBITDA Growth - S&P Global Ratings’ Credit Research

Bulletin: Melco To Prioritize Debt Reduction Amid Slower EBITDA Growth

Bulletin: Melco To Prioritize Debt Reduction Amid Slower EBITDA Growth - S&P Global Ratings’ Credit Research
Bulletin: Melco To Prioritize Debt Reduction Amid Slower EBITDA Growth
Published Aug 18, 2026
3 pages (1346 words) — Published Aug 18, 2026
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Abstract:

This report does not constitute a rating action. HONG KONG (S&P Global Ratings) Aug. 18, 2026--Softer gaming revenue growth at Melco Resorts&Entertainment Ltd. (MLCO) amid intensified competition will delay an improvement in the company's financial position. It will continue to deleverage over the next 12 months, though the pace will slow, in our view. MLCO is the parent and key credit driver of Melco Resorts (Macau) Ltd. (BB-/Stable/--) and Studio City Co. Ltd. (B+/Stable/--). During the June 2026 quarter, MLCO's revenue and adjusted EBITDA dipped 6% and 20% year over year. This temporary decrease was due to higher gaming demand than we expected being diverted to the football World Cup, along with unfavorable win rates in the company's

  
Brief Excerpt:

...August 18, 2026 This report does not constitute a rating action. HONG KONG (S&P Global Ratings) Aug. 18, 2026--Softer gaming revenue growth at Melco Resorts & Entertainment Ltd. (MLCO) amid intensified competition will delay an improvement in the company's financial position. It will continue to deleverage over the next 12 months, though the pace will slow, in our view. MLCO is the parent and key credit driver of Melco Resorts (Macau) Ltd. (##-/Stable/--) and Studio City Co. Ltd. (B+/Stable/--). During the June 2026 quarter, MLCO's revenue and adjusted EBITDA dipped 6% and 20% year over year. This temporary decrease was due to higher gaming demand than we expected being diverted to the football World Cup, along with unfavorable win rates in the company's VIP gaming segment. Even though the result was worse than our base case, mass gaming revenue growth was largely in line with the industry. We expect revenue to return to 5% growth for the second half of 2026 as gaming demand normalizes...

  
Report Type:

Bulletin

Issuer
Melco Resorts (Macau) Ltd.
GICS
Casinos & Gaming (25301010)
Sector
Global Issuers
Region
Latin America
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: Melco To Prioritize Debt Reduction Amid Slower EBITDA Growth" Aug 18, 2026. Alacra Store. Nov 07, 2026. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Melco-To-Prioritize-Debt-Reduction-Amid-Slower-EBITDA-Growth-3612957>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: Melco To Prioritize Debt Reduction Amid Slower EBITDA Growth Aug 18, 2026. New York, NY: Alacra Store. Retrieved Nov 07, 2026 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Melco-To-Prioritize-Debt-Reduction-Amid-Slower-EBITDA-Growth-3612957>
  
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