Page 1

00 8 新 濠 影 滙 STUDIO CITY Studio City International Holdings Limited Announces Unaudited Second Quarter 2021 Earnings July 27 , 2021 -- MACAU , July 27 , 2021 ( GLOBE NEWSWIRE ) 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 second quarter of 2021 . Total operating revenues for the second quarter of 2021 were US $ 31.2 million , compared to total operating revenues of negative US $ 12.5 million in the second quarter of 2020. The change was due to the increase in revenues from the provision of gaming related services and higher non - gaming revenues as a result of a year - over - year increase in inbound tourism in the second quarter of 2021 . 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 $ 106.1 million and US $ 6.7 million for the second quarters of 2021 and 2020 , respectively . Studio City's rolling chip volume was US $ 386.1 million in the second quarter of 2021 versus US $ 232.1 million in the second quarter of 2020. The rolling chip win rate was 4.01 % in the second quarter of 2021 versus 0.17 % in the second quarter of 2020. The expected rolling chip win rate range is 2.85 % -3.15 % . Mass market table games drop increased to US $ 319.7 million in the second quarter of 2021 , compared with US $ 20.1 million in the second quarter of 2020. The mass market table games hold percentage was 25.8 % in the second quarter of 2021 , compared to 22.2 % in the second quarter of 2020 . Gaming machine handle for the second quarter of 2021 was US $ 299.4 million , compared with US $ 67.6 million in the second quarter of 2020. The gaming machine win rate was 2.7 % in both the second quarters of 2021 and 2020 . Total gaming taxes and the costs incurred in connection with the on - going operation of Studio City Casino deducted from gross gaming revenues were US $ 104.3 million and US $ 34.7 million in the second quarters of 2021 and 2020 , respectively . Revenues from the provision of gaming related services were US $ 1.8 million for the second quarter of 2021 , compared with revenues from the provision of gaming related services of negative US $ 28.0 million for the second quarter of 2020. Revenues from the provision of gaming related services are net of gaming taxes and the costs incurred in connection with the operation of Studio City Casino deducted by the Gaming Operator pursuant to the Services and Right to Use Arrangements . Total non - gaming revenues at Studio City for the second quarter of 2021 were US $ 29.4 million , compared with US $ 15.4 million for the second quarter of 2020 . Operating loss for the second quarter of 2021 was US $ 45.8 million , compared with operating loss of US $ 92.7 million in the second quarter of 2020 . Studio City generated negative Adjusted EBITDA ( 1 ) of US $ 9.5 million in the second quarter of 2021 , compared to negative Adjusted EBITDA of US $ 51.1 million in the second quarter of 2020. The change was mainly attributable to the increase in revenues from the provision of gaming related services and higher non - gaming revenues . Net loss attributable to Studio City International Holdings Limited for the second quarter of 2021 was US $ 59.7 million , compared with net loss attributable to Studio City International Holdings Limited of US $ 91.0 million in the second quarter of 2020. The net loss attributable to participation interest was US $ 11.7 million and US $ 27.3 million in the second quarters of 2021 and 2020 , respectively . Other Factors Affecting Earnings Total net non - operating expenses for the second quarter of 2021 were US $ 25.1 million , which mainly included interest expenses of US $ 22.3 million ,