MACAU, June 23, 2022 (GLOBE NEWSWIRE) — Studio City International Holdings Limited (NYSE: MSC) (“Studio City” or the “Company”), a world-class built-in resort situated in Cotai, Macau, as we speak publicizes that Melco Resorts (Macau) Limited, a subsidiary of Melco Resorts & Entertainment Limited and the operator of the Studio City Casino (“Gaming Operator”), entered into an modification settlement to its subconcession contract pursuant to which the Gaming Operator’s subconcession, which is because of expire on June 26, 2022, was prolonged to December 31, 2022 which coincides with the prolonged expiration date of all the opposite concessions and subconcessions in Macau. In addition, on June 23, 2022, the Gaming Operator and Studio City Developments Limited, the subsidiary of the Company holding the land lease rights for the property on which Studio City Casino is situated (“Studio City Developments”), executed an enterprise in favor of the Macau authorities pursuant to which the Gaming Operator and Studio City Developments dedicated to signal the paperwork required by the Macau authorities in order that the gaming areas and gaming assist areas of the Studio City Casino, in accordance with Macau legislation, reverts to the Macau SAR, with out compensation and free and clear from any fees or encumbrances on the expiration of the Gaming Operator’s subconcession. The remaining phrases of such reversion are topic to the execution of a reversion deed or related instrument in favor of the Macau authorities. The Gaming Operator and Studio City Entertainment Limited, a subsidiary of the Company, have additionally amended the settlement beneath which the Gaming Operator operates the Studio City Casino to align such settlement with the newly enacted amendments to the gaming legislation in Macau. In addition, sure situations imposed by the Macau authorities referring to the beforehand current settlement, together with in relation to shareholding necessities for sure direct and oblique shareholders of Studio City Entertainment Limited, are not relevant.
Safe Harbor Statement
This press launch incorporates forward-looking statements. These statements are made beneath the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Studio City International Holdings Limited (the “Company”) may additionally make forward-looking statements in its periodic stories to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report back to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or staff to 3rd events. Statements that aren’t historic details, together with statements in regards to the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements contain inherent dangers and uncertainties, and plenty of elements might trigger precise outcomes to vary materially from these contained in any forward-looking assertion. These elements embody, however are usually not restricted to, (i) the worldwide pandemic of COVID-19, brought on by a novel pressure of the coronavirus, and the continued affect of its penalties on our business, our trade and the worldwide economy, (ii) dangers related to the newly adopted gaming legislation in Macau and its implementation by the Macau authorities, (iii) development of the gaming market and visitations in Macau, (iv) capital and credit score market volatility, (v) native and international financial situations, (vi) our anticipated development methods, (vii) gaming authority and different governmental approvals and laws, and (viii) our future business improvement, outcomes of operations and monetary situation. In some circumstances, forward-looking statements may be recognized by phrases or phrases resembling “may”, “will”, “expect”, “anticipate”, “target”, “aim”, “estimate”, “intend”, “plan”, “believe”, “potential”, “continue”, “is/are likely to” or different related expressions. Further info relating to these and different dangers, uncertainties or elements is included within the Company’s filings with the SEC. All info offered on this press launch is as of the date of this press launch, and the Company undertakes no responsibility to replace such info, besides as required beneath relevant legislation.
About Studio City International Holdings Limited
The Company, with its American depositary shares listed on the New York Stock Exchange (NYSE: MSC), is a world-class built-in resort situated in Cotai, Macau. For extra details about the Company, please go to www.studiocity-macau.com.
The Company is strongly supported by its single largest shareholder, Melco Resorts & Entertainment Limited, an organization with its American depositary shares listed on the NASDAQ Global Select Market (NASDAQ: MLCO).
For the funding group, please contact:
Jeanny Kim
Senior Vice President, Group Treasurer
Tel: +852 2598 3698
Email: [email protected]
For media enquiries, please contact:
Chimmy Leung
Executive Director, Corporate Communications
Tel: +852 3151 3765
Email: [email protected]
