Page 1

新 濠 影 滙 STUDIO CITY FOR IMMEDIATE RELEASE Studio City International Holdings Limited Announces Unaudited First Quarter 2021 Earnings Macau , Wednesday , April 28 , 2021 – Studio City International Holdings Limited ( NYSE : MSC ) ( " Studio City " or the " Company " ) , a world - class integrated resort located in Cotai , Macau , today reported its unaudited financial results for the first quarter of 2021 . Total operating revenues for the first quarter of 2021 were US $ 28.6 million , compared to total operating revenues of US $ 37.1 million in the first quarter of 2020. The decrease in total operating revenues was due to the decrease in revenues from the provision of gaming related services and lower non - gaming revenues as a result of the COVID - 19 pandemic , which resulted in a year - over - year decline in inbound tourism in the first quarter of 2021 since the first quarter of 2020 was only partially impacted by the restrictions from the COVID - 19 pandemic . Revenues from the provision of gaming related services are derived from the provision of facilities for the operations of Studio City Casino by Melco Resorts ( Macau ) Limited ( the “ Gaming Operator " ) , a subsidiary of Melco Resorts & Entertainment Limited ( " Melco " ) and holder of a gaming subconcession , and services related thereto . Studio City Casino generated gross gaming revenues of US $ 98.5 million and US $ 146.7 million for the first quarters of 2021 and 2020 , respectively . Studio City's rolling chip volume was US $ 0.50 billion for 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 % . 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 , compared to 3.2 % in the first quarter of 2020 . Total gaming taxes and the costs incurred in connection with the operation of Studio City Casino deducted from gross gaming revenues were US $ 97.3 million and US $ 141.2 million in the first quarters of 2021 and 2020 , respectively . ARA ESTRADA DO ISTMO , COTAI , MACAUT ( 853 ) 8865 8888 F ( 853 ) 8869 8888 WWW.STUDIOCITY-MACAU.COM