Casino operator Melco Resorts & Entertainment Ltd said on Friday that fourth-quarter net loss attributable to the company has been amended to US$205.9 million, up from the US$156.6-million amount the company had originally reported in late February.
The change was because a US$49.3-million figure that the company had reported as net deferred tax assets in the original report, has now been cut from the accounts.
Melco Resorts runs casinos in Macau, a property in the Philippine capital Manila, and gaming venues on the Mediterranean island of Cyprus.
“The company concluded its assessment of the realisability of its net deferred tax assets in light of its cumulative consolidated net losses over the past three years,” said the casino firm in a Friday filing.
“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,” it explained.
As a result, the company reviewed its fourth quarter and annual results in terms of its balance sheet and statement of operations for the fourth quarter and full-year 2023.
Net loss attributable to Melco Resorts for 2023 was upped to US$326.9 million, compared to the US$277.6-million figure stated in February. The result was an improvement on the US$930.5-million loss recorded in 2022.
Melco Resorts’ aggregate operating revenue in 2023 grew by 179.7 percent year-on-year, to just under US$3.78 billion.
