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Melco publishes second sustainability strategy report Above & Beyond

Published: 2020-06-01 03:53:00 ET

Delivering positive and substantial results against all stated goals

MACAU, June 01, 2020 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment announces the publication of its 2019 sustainability report (link). Since launching the Company’s Above and Beyond sustainability strategy, the report highlights the positive and substantial progress made towards the Company’s sustainability goals, including inspiring the Company’s resort guests by showing them that a sustainable future is a better future; being the best partner and the best place to work; achieving carbon neutrality across all resort properties; and achieving zero waste and contributing to circular economic leadership in Asia by the year 2030.

Mr. Lawrence Ho, Chairman & CEO of Melco Resorts & Entertainment, said, “Last year, Melco’s inaugural Above & Beyond sustainability strategy set out a comprehensive series of bold, strategic initiatives and ambitions to confront systemic issues within the hospitality industry. One year on, amidst the current economic uncertainty, we remain firmly driven by our focus around our sustainability goals. They stand at the core of our strategy and have become part of daily operations for our entire workforce, from top to bottom. Through sustained efforts and reporting, we will carry on protecting the environment for future generations, mitigating climate risks as we continue embracing responsible development as a catalyst for growth and positive change, all whilst enhancing our guest experiences. Furthermore, building upon Melco’s philosophy of giving back to the community, the Company continues to stand together with the people of Macau as we deploy employees en masse to offer support for communities impacted by recent events.”

The latest report details the Company’s progress made in the last twelve months, including:

Receiving an A- and “Best First Time Performer” accolade from CDP, one of the world’s most respected and long-standing environmental disclosure systems, placing Melco in their leadership band for climate change responses;
Melco’s entire Macanese portfolio being honored with the globally-recognized eco-label Green Key award;
Diverting 712 tons of waste from disposal to recycling and composting, an increase of 10% on last year;
Investment in technology – trialing A.I. systems in both front- and heart-of-house to tackle the major challenge of food waste;
Installation of solar panels at City of Dreams Manila with the potential to generate 100,000 kWh of electricity per month
Embedding ourselves within the surrounding community in Macau, 80% of all our procurement is from, or through, local suppliers. This localized approach to engagement and dialogue sits at the heart of Melco’s business model and is reflected in the multiple international HR and employment awards achieved in 2019.

About Melco Resorts & Entertainment Limited

The Company, with its American depositary shares listed on the NASDAQ Global Select Market (NASDAQ: MLCO), is a developer, owner and operator of casino gaming and entertainment casino resort facilities in Asia and Europe. The Company currently operates Altira Macau (www.altiramacau.com ), a casino hotel located at Taipa, Macau and City of Dreams (www.cityofdreamsmacau.com), an integrated urban casino resort located in Cotai, Macau. Its business also includes the Mocha Clubs (www.mochaclubs.com), which comprise the largest non-casino based operations of electronic gaming machines in Macau. The Company also majority owns and operates Studio City (www.studiocity-macau.com), a cinematically themed integrated entertainment, retail and gaming resort in Cotai, Macau. In the Philippines, a Philippine subsidiary of the Company currently operates and manages City of Dreams Manila (www.cityofdreamsmanila.com), a casino, hotel, retail and entertainment integrated resort in the Entertainment City complex in Manila. In Europe, the Company is currently developing City of Dreams Mediterranean (www.cityofdreamsmed.com.cy) in the Republic of Cyprus, which is expected to be the largest and premier integrated destination resort in Europe. The Company is currently operating a temporary casino, the first casino in the Republic of Cyprus, and four satellite casinos (“Cyprus Casinos”). Upon the opening of City of Dreams Mediterranean, the Company will also continue to operate the four satellite casinos while operation of the temporary casino will cease. For more information about the Company, please visit www.melco-resorts.com.

The Company is strongly supported by its single largest shareholder, Melco International Development Limited, a company listed on the Main Board of The Stock Exchange of Hong Kong Limited and is substantially owned and led by Mr. Lawrence Ho, who is the Chairman, Executive Director and Chief Executive Officer of the Company.

For media enquiries, please contact:Chimmy LeungExecutive Director, Corporate Communications Tel: +852 3151 3765Email: chimmyleung@melco-resorts.com

Source: Melco Resorts & Entertainment Limited

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.