Exhibit 99.1

FOR IMMEDIATE RELEASE

Melco Announces Unaudited First Quarter 2021 Earnings

Macau, Wednesday, April 28, 2021 – Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (“Melco” or the “Company”), a developer, owner, and operator of integrated resort facilities in Asia and Europe, today reported its unaudited financial results for the first quarter of 2021.

Total operating revenues for the first quarter of 2021 were US$0.52 billion, representing a decrease of approximately 36% from US$0.81 billion for the comparable period in 2020. The decrease in total operating revenues was primarily attributable to a year-over-year decline in inbound tourism in the first quarter of 2021, compared to the first quarter of 2020, which was only partially impacted by the restrictions from the COVID-19 pandemic.

Operating loss for the first quarter of 2021 was US$162.8 million, compared with operating loss of US$149.9 million in the first quarter of 2020.

Melco generated Adjusted Property EBITDA⁽¹⁾ of US$30.1 million in the first quarter of 2021, compared with Adjusted Property EBITDA of US$75.3 million in the first quarter of 2020.

Net loss attributable to Melco Resorts & Entertainment Limited for the first quarter of 2021 was US$232.9 million, or US$0.49 per ADS, compared with net loss attributable to Melco Resorts & Entertainment Limited of US$364.0 million, or US$0.76 per ADS, in the first quarter of 2020. The net loss attributable to noncontrolling interests was US$44.6 million and US$42.0 million during the first quarters of 2021 and 2020, respectively, all of which were related to Studio City, City of Dreams Manila and the Cyprus Operations.

Mr. Lawrence Ho, our Chairman and Chief Executive Officer, commented, “COVID-19 and the subsequent travel restrictions continue to have a significant negative impact on our operating and financial performance. Despite these challenges, our integrated resorts experienced a moderate recovery in business levels during the first quarter.

“We commend the Macau government’s measured approach to reopening the border and schemes to boost the economy and support local jobs. In this regard, we continue to prioritize epidemic prevention measures to keep our colleagues and customers safe, while working collaboratively with small and medium enterprise (SME) partners to contribute to Macau’s sustainable development and economic recovery.

MELCO RESORTS & ENTERTAINMENT LIMITED

Incorporated in the Cayman Islands with limited liability

新濠博亞娛樂有限公司

於開曼群島註冊成立的有限公司

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“While impacted by COVID-19, Melco remains committed to its global development program. In Macau, construction on the expansion of Studio City is progressing. Upon completion, Studio City will offer approximately 900 additional luxury hotel rooms and suites, one of the world’s largest indoor/outdoor water parks, a Cineplex, fine-dining restaurants and state-of-the-art MICE space. The expansion of the current water park at Studio City Phase 1 is complete and will open on May 22, 2021. Also in Macau, our facility upgrade works at City of Dreams are ongoing, where the fully renovated Nüwa hotel re-opened at the end of March 2021, while the Countdown closed down at the end of March 2021 to undergo a full renovation. In Europe, we are developing City of Dreams Mediterranean which, upon completion, will be Europe’s largest integrated resort with approximately 500 luxury hotel rooms, approximately 10,000 square meters of MICE space, an outdoor amphitheater, a family adventure park, and a variety of fine-dining outlets and luxury retail.

“Additionally, in recognition of the Company’s commitment to sustainable building design and development as part of its Above and Beyond sustainability strategy, Studio City Phase 2 was named winner of the BREEAM Awards’ 2021 ‘Regional Award, Asia’. Both Studio City Phase 2 and City of Dreams Mediterranean have attained BREEAM’s “Excellent” rating at the Design Stage where the highest sustainability standards in development have been incorporated into the building’s design.

“Turning to Japan, we remain committed to bringing to the country a world-leading IR. We continue to believe our focus on the Asian premium segment, a portfolio of high-quality assets, devotion to craftsmanship, dedication to world-class entertainment offerings, market-leading social safeguard systems, established track record of successful partnerships, culture of exceptional guest service, and a continuing commitment to employee development puts Melco in a strong position to help Japan realize the vision of developing an exceptional IR with a uniquely Japanese touch. Due to COVID, the process in Japan has been delayed and remains complex but has continued to progress forward. Melco is currently actively engaged with multiple potential partners. We will continue to be patient as we navigate the landscape to ensure that Melco pursues the right opportunity that takes advantage of Melco’s core strengths to drive strong value creation.”

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City of Dreams First Quarter Results

For the quarter ended March 31, 2021, the total operating revenues at City of Dreams were US$302.5 million, compared to US$467.6 million in the first quarter of 2020. City of Dreams generated Adjusted EBITDA of US$40.0 million in the first quarter of 2021, compared with Adjusted EBITDA of US$61.0 million in the first quarter of 2020. The year-over-year decrease in Adjusted EBITDA was primarily a result of softer performance in the rolling chip segment, partially offset by lower operating costs as a result of lower business volumes and our cost containment efforts.

Rolling chip volume was US$4.13 billion for the first quarter of 2021 versus US$8.65 billion in the first quarter of 2020. The rolling chip win rate was 2.36% in the first quarter of 2021 versus 4.11% in the first quarter of 2020. The expected rolling chip win rate range is 2.85% - 3.15%.

Mass market table games drop increased to US$0.73 billion in the first quarter of 2021, compared with US$0.57 billion in the first quarter of 2020. The mass market table games hold percentage was 31.7% in the first quarter of 2021, compared to 33.7% in the first quarter of 2020.

Gaming machine handle for the first quarter of 2021 was US$510.2 million, compared with US$509.6 million in the first quarter of 2020. The gaming machine win rate was 3.3% in the first quarter of 2021 versus 3.9% in the first quarter of 2020.

Total non-gaming revenue at City of Dreams in the first quarter of 2021 was US$47.1 million, compared with US$47.0 million in the first quarter of 2020.

Altira Macau First Quarter Results

For the quarter ended March 31, 2021, the total operating revenues at Altira Macau were US$14.3 million, compared to US$52.9 million in the first quarter of 2020. Altira Macau generated negative Adjusted EBITDA of US$29.6 million in the first quarter of 2021, compared with negative Adjusted EBITDA of US$9.1 million in the first quarter of 2020. The change in Adjusted EBITDA was primarily a result of softer performance in the rolling chip and mass market table games segments, partially offset by lower operating costs as a result of lower business volumes and our cost containment efforts.

Rolling chip volume was US$1.10 billion in the first quarter of 2021, versus US$1.38 billion in the first quarter of 2020. The rolling chip win rate was 1.60% in the first quarter of 2021 versus 4.48% in the first quarter of 2020. The expected rolling chip win rate range is 2.85% - 3.15%.

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In the mass market table games segment, drop was US$51.4 million in the first quarter of 2021 versus US$64.4 million in the first quarter of 2020. The mass market table games hold percentage was 19.1% in the first quarter of 2021, compared with 30.4% in the first quarter of 2020.

Gaming machine handle for the first quarter of 2021 was US$60.2 million, compared with US$39.1 million in the first quarter of 2020. The gaming machine win rate was 3.9% in the first quarter of 2021 versus 2.5% in the first quarter of 2020.

Total non-gaming revenue at Altira Macau in the first quarter of 2021 was US$3.1 million, compared with US$3.0 million in the first quarter of 2020.

Mocha Clubs First Quarter Results

Total operating revenues from Mocha Clubs were US$17.8 million in the first quarter of 2021, compared to US$18.0 million in the first quarter of 2020. Mocha Clubs generated Adjusted EBITDA of US$1.8 million in the first quarter of 2021, compared with Adjusted EBITDA of US$0.1 million in the same period in 2020.

Gaming machine handle for the first quarter of 2021 was US$415.2 million, compared with US$385.9 million in the first quarter of 2020. The gaming machine win rate was 4.3% in the first quarter of 2021 versus 4.7% in the first quarter of 2020.

Studio City First Quarter Results

For the quarter ended March 31, 2021, the total operating revenues at Studio City were US$97.9 million, compared to US$136.6 million in the first quarter of 2020. Studio City generated negative Adjusted EBITDA of US$5.2 million in the first quarter of 2021, compared with negative Adjusted EBITDA of US$9.4 million in the first quarter of 2020. The year-over-year change in Adjusted EBITDA was primarily due to lower operating costs as a result of lower business volumes and our cost containment efforts.

Studio City’s rolling chip volume was US$0.50 billion in the first quarter of 2021 versus US$1.38 billion in the first quarter of 2020. The rolling chip win rate was 0.29% in the first quarter of 2021 versus 3.31% in the first quarter of 2020. The expected rolling chip win rate range is 2.85% - 3.15%.

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Mass market table games drop decreased to US$309.3 million in the first quarter of 2021, compared with US$352.8 million in the first quarter of 2020. The mass market table games hold percentage was 29.1% in the first quarter of 2021, compared to 25.9% in the first quarter of 2020.

Gaming machine handle for the first quarter of 2021 was US$278.3 million, compared with US$311.1 million in the first quarter of 2020. The gaming machine win rate was 2.5% in the first quarter of 2021 versus 3.2% in the first quarter of 2020.

Total non-gaming revenue at Studio City in the first quarter of 2021 was US$19.4 million, compared with US$21.0 million in the first quarter of 2020.

City of Dreams Manila First Quarter Results

For the quarter ended March 31, 2021, the total operating revenues at City of Dreams Manila were US$79.5 million, compared to US$110.3 million in the first quarter of 2020. City of Dreams Manila generated Adjusted EBITDA of US$29.4 million in the first quarter of 2021, compared with Adjusted EBITDA of US$29.6 million in the comparable period of 2020.

City of Dreams Manila’s rolling chip volume was US$0.27 billion in the first quarter of 2021 versus US$1.16 billion in the first quarter of 2020. The rolling chip win rate was 7.00% in the first quarter of 2021 versus 3.72% in the first quarter of 2020. The expected rolling chip win rate range is 2.85% - 3.15%.

Mass market table games drop decreased to US$100.0 million in the first quarter of 2021, compared with US$156.9 million in the first quarter of 2020. The mass market table games hold percentage was 34.0% in the first quarter of 2021, compared to 33.5% in the first quarter of 2020.

Gaming machine handle for the first quarter of 2021 was US$568.9 million, compared with US$859.2 million in the first quarter of 2020. The gaming machine win rate was 5.7% in the first quarter of 2021 versus 4.1% in the first quarter of 2020.

Total non-gaming revenue at City of Dreams Manila in the first quarter of 2021 was US$14.2 million, compared with US$25.6 million in the first quarter of 2020.

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Cyprus Operations First Quarter Results

The Company is licensed to operate a temporary casino, the first casino in the Republic of Cyprus, and four satellite casinos, of which the temporary casino and three satellite casinos are planned to resume operation after the current government restrictions are lifted. Upon the completion and opening of City of Dreams Mediterranean, the Company will continue to operate the satellite casinos while operation of the temporary casino will cease.

For the quarter ended March 31, 2021, the total operating revenues at Cyprus Casinos were insignificant, compared to US$18.8 million in the first quarter of 2020. Cyprus Casinos generated negative Adjusted EBITDA of US$6.4 million in the first quarter of 2021, compared with Adjusted EBITDA of US$3.2 million in the first quarter of 2020. The year-over-year decrease in Adjusted EBITDA was primarily a result of temporary government-mandated casino closures during the entire first quarter of 2021.

Other Factors Affecting Earnings

Total net non-operating expenses for the first quarter of 2021 were US$114.0 million, which mainly included interest expenses of US$90.6 million, net of amounts capitalized, and loss on extinguishment of debt of US$28.8 million.

Depreciation and amortization costs of US$141.1 million were recorded in the first quarter of 2021, of which US$14.3 million related to the amortization expense for our Macau gaming subconcession and US$5.7 million related to the amortization expense for the land use rights.

The negative Adjusted EBITDA for Studio City for the three months ended March 31, 2021 referred to in this press release was US$8.2 million less than the negative Adjusted EBITDA of Studio City contained in the earnings release for Studio City International Holdings Limited (“SCIHL”) dated April 28, 2021 (the “Studio City earnings release”). The Adjusted EBITDA of Studio City contained in the Studio City earnings release includes certain intercompany charges that are not included in the Adjusted EBITDA for Studio City contained in this press release. Such intercompany charges include, among other items, fees and shared service charges billed between SCIHL and its subsidiaries and certain subsidiaries of Melco. Additionally, Adjusted EBITDA of Studio City included in this press release does not reflect certain intercompany costs related to the table games operations at Studio City Casino.

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Financial Position and Capital Expenditures

Total cash and bank balances as of March 31, 2021 aggregated to US$1.58 billion, including US$0.4 million of restricted cash. Total debt, net of unamortized deferred financing costs and original issue premiums, was US$5.80 billion at the end of the first quarter of 2021.

Capital expenditures for the first quarter of 2021 were US$157.4 million, which primarily related to various construction projects at City of Dreams, Studio City Phase 2, and City of Dreams Mediterranean.

Recent Developments

The COVID-19 outbreak continues to have a material effect on our operations, financial position, and prospects during the second quarter of 2021.

Despite the nationwide resumption of issuance of Individual Visit Scheme visas by China in September 2020, our operations in Macau continue to be impacted by significant travel bans, restrictions, and quarantine requirements imposed by the governments in Macau, Hong Kong and China, and such bans, restrictions and requirements have been, and may continue to be, modified by the relevant authorities from time to time as COVID-19 developments unfold. Additionally, health-related precautionary measures remain in place at our properties in Macau, which continue to impact visitation and customer spending.

Our Philippines casino gaming operations were closed due to the enhanced community quarantine for the entire island of Luzon, including Metro Manila, which began in March 2020. Despite the general closure, in June 2020, City of Dreams Manila was able to conduct a dry run of its gaming and hospitality operations with a limited number of participants, strictly adhering to the new guidelines on social distancing and hygiene and sanitation procedures imposed by the government of the Philippines and as permitted by PAGCOR. The PAGCOR-sanctioned dry run aimed at addressing all potential operational concerns to achieve a seamless re-opening for City of Dreams Manila. The dry run was expected to continue until PAGCOR issued a formal notice that City of Dreams Manila could resume operations again on a regular basis in the future.

The dry run was suspended for more than two weeks in early August 2020 due to the rising number of COVID-19 cases, before resuming in late August 2020. However, due to a recent resurgence in COVID-19 cases, on April 12, 2021, the government placed Metro Manila under a modified enhanced community quarantine, which is expected to be in effect until April 30, 2021. City of Dreams Manila was temporarily closed beginning on March 29, 2021, and will remain closed while such quarantine measures remain in place.

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In Cyprus, on November 12, 2020, as part of a regional lockdown, our casino operations in Limassol and Paphos were suspended until November 30, 2020. Thereafter, the government of Cyprus has announced a series of nationwide measures in an effort to prevent the spread of COVID-19 which included, among others, curfews, restrictions on gatherings, sports activities and operation of food and beverage and retail businesses and closure of various other businesses, including our casino operations in Cyprus. As a result, our operations in Cyprus are currently closed and will remain closed while such measures remain in place.

The COVID-19 outbreak has also impacted the construction of the Studio City Phase 2 project and the progress of construction work at the City of Dreams Mediterranean project. We currently expect additional time will be needed to complete the construction of these projects.

As the disruptions from the COVID-19 outbreak are ongoing, any recovery from such disruptions will depend on future events, such as the successful production, distribution and widespread acceptance of safe and effective vaccines, the development of effective treatments for COVID-19, including for new strains of COVID-19, the duration of travel and visa restrictions as well as customer sentiment and behavior, including the length of time before customers resume traveling and participating in entertainment and leisure activities at high-density venues and the impact of potential higher unemployment rates, declines in income levels and loss of personal wealth resulting from the COVID-19 outbreak on consumer behavior related to discretionary spending and traveling, all of which are highly uncertain.

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Conference Call Information

Melco Resorts & Entertainment Limited will hold a conference call to discuss its first quarter 2021 financial results on Wednesday, April 28, 2021 at 8:30 a.m. Eastern Time (or 8:30 p.m. Hong Kong Time). To join the conference call, please use the dial-in details below:

An audio webcast will also be available at http://www.melco-resorts.com.

To access the replay, please use the dial-in details below:

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Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Melco Resorts & Entertainment Limited (the “Company”) may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to, (i) the global pandemic of COVID-19, caused by a novel strain of the coronavirus, and the continued impact of its consequences on our business, our industry and the global economy, (ii) growth of the gaming market and visitations in Macau, the Philippines and the Republic of Cyprus, (iii) capital and credit market volatility, (iv) local and global economic conditions, (v) our anticipated growth strategies, (vi) gaming authority and other governmental approvals and regulations, and (vii) our future business development, results of operations and financial condition. In some cases, forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “anticipate”, “target”, “aim”, “estimate”, “intend”, “plan”, “believe”, “potential”, “continue”, “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company undertakes no duty to update such information, except as required under applicable law.

Non-GAAP Financial Measures

The Company also presents Adjusted EBITDA and Adjusted Property EBITDA because they are used by some investors as ways to measure a company’s ability to incur and service debt, make capital expenditures, and meet working capital requirements. Gaming companies have historically reported Adjusted EBITDA and Adjusted Property EBITDA as supplements to financial measures in accordance with U.S. GAAP. However, Adjusted EBITDA and Adjusted Property EBITDA should not be considered as alternatives to operating income/loss as indicators of the Company’s performance, as alternatives to cash flows from operating activities as measures of liquidity, or as alternatives to any other measure determined in accordance with U.S. GAAP. Unlike net income/loss, Adjusted EBITDA and Adjusted Property EBITDA do not include depreciation and amortization or interest expense and, therefore, do not reflect current or future capital expenditures or the cost of capital. The Company compensates for these limitations by using Adjusted EBITDA and Adjusted Property EBITDA as only two of several comparative tools, together with U.S. GAAP measurements, to assist in the evaluation of operating performance.

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Such U.S. GAAP measurements include operating income/loss, net income/loss, cash flows from operations and cash flow data. The Company has significant uses of cash flows, including capital expenditures, interest payments, debt principal repayments, taxes and other recurring and nonrecurring charges, which are not reflected in Adjusted EBITDA or Adjusted Property EBITDA. Also, the Company’s calculation of Adjusted EBITDA and Adjusted Property EBITDA may be different from the calculation methods used by other companies and, therefore, comparability may be limited. Reconciliations of Adjusted EBITDA and Adjusted Property EBITDA with the most comparable financial measures calculated and presented in accordance with U.S. GAAP are provided herein immediately following the financial statements included in this press release.

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 integrated resort facilities in Asia and Europe. The Company currently operates Altira Macau (www.altiramacau.com), an integrated resort located at Taipa, Macau and City of Dreams (www.cityofdreamsmacau.com), an integrated 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 resort in Cotai, Macau. In the Philippines, a Philippine subsidiary of the Company currently operates and manages City of Dreams Manila (www.cityofdreamsmanila.com), an 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 authorized casino in the Republic of Cyprus, and is licensed to operate four satellite casinos (“Cyprus Casinos”). Upon the opening of City of Dreams Mediterranean, the Company will continue to operate the satellite casinos while operation of the temporary casino will cease. For more information about the Company, please visit www.melco-resorts.com.

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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 the investment community, please contact:

Robin Yuen

Director, Investor Relations

Tel: +852 2598 3619

Email: robinyuen@melco-resorts.com

For media enquiries, please contact:

Chimmy Leung

Executive Director, Corporate Communications

Tel: +852 3151 3765

Email: chimmyleung@melco-resorts.com

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Melco Resorts & Entertainment Limited and Subsidiaries

Condensed Consolidated Statements of Operations (Unaudited)

(In thousands of U.S. dollars, except share and per share data)

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Melco Resorts & Entertainment Limited and Subsidiaries

Condensed Consolidated Balance Sheets

(In thousands of U.S. dollars, except share and per share data)

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Melco Resorts & Entertainment Limited and Subsidiaries

Reconciliation of Net Loss Attributable to Melco Resorts & Entertainment Limited to

Adjusted Net Loss Attributable to Melco Resorts & Entertainment Limited (Unaudited)

(In thousands of U.S. dollars, except share and per share data)

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Melco Resorts & Entertainment Limited and Subsidiaries

Reconciliation of Operating Loss to Adjusted EBITDA and Adjusted Property EBITDA (Unaudited)

(In thousands of U.S. dollars)

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Melco Resorts & Entertainment Limited and Subsidiaries

Reconciliation of Net Loss Attributable to Melco Resorts & Entertainment Limited to

Adjusted EBITDA and Adjusted Property EBITDA (Unaudited)

(In thousands of U.S. dollars)

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Melco Resorts & Entertainment Limited and Subsidiaries

Supplemental Data Schedule

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