3Q’19 RESULTS PRESENTATION October 2019 Disclaimer
Safe Harbor Statement
This presentation contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company may also make written or oral 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) growth of the gaming market and visitation in Macau, the Philippines and the Republic of Cyprus, (ii) capital and credit market volatility, (iii) local and global economic conditions, (iv) our anticipated growth strategies, (v) gaming authority and other governmental approvals and regulations and (vi) 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 presentation is as of the date of this presentation and the Company undertakes no duty to update such information, except as required under applicable law.
This presentation contains non-GAAP financial measures and ratios that are not required by, or presented in accordance with, U.S. GAAP, including Adjusted property EBITDA and Adjusted EBITDA. The non-GAAP financial measures may not be comparable to other similarly titled measures of other companies since they are not uniformly defined and have limitations as analytical tools and should not be considered in isolation or as a substitute for U.S. GAAP measures. Non-GAAP financial measures and ratios are not measurements of our performance under U.S. GAAP and should not be considered as alternatives to any performance measures derived in accordance with U.S. GAAP or any other generally accepted accounting principles. Reconciliations of such non-GAAP financial measures and ratios to their most directly comparable financial measures and ratios are included in our earnings releases that have been furnished with the SEC and are also available on our Investor Relations website at http://ir.melco-resorts.com. 3Q 2019 Earnings Summary Group-wide Adjusted Property EBITDA up 39% y-y
• In connection with the Company’s acquisition of a 75% interest in Total Adjusted Property EBITDA & Adjusted Property EBITDA Margin(1) (2) ICR Cyprus Holdings Limited (“ICR Cyprus”), from its parent 500 35.0% company, Melco International Development Limited, on July 31, 448 450 6 418 2019, all periods presented have been restated to include the 30.0% 9 400 83 assets and liabilities and financial results of the ICR Cyprus group 50 in accordance with applicable accounting standards. 350 25.0% 301 95 300 6 106 20.0% • 3Q Total Operating Revenues of US$1,439 million, up 16% y-y. 55 250 15.0% • 3Q Adjusted Property EBITDA of US$418 million, up 39% y-y. 200 89 150 • City of Dreams’ Adjusted EBITDA increased 58% y-y to US$233 251 233 10.0% million, which was primarily a result of better performances in 100 147 5.0% the rolling chip and mass market table games segments. 50 4 14 20 - 0.0% • Studio City’s Adjusted EBITDA increased 19% y-y to US$106 3Q'18 2Q'19 3Q'19 million, which was primarily a result of better performance in Cyprus Operations (US$m) the mass market table games segment, partially offset by a City of Dreams Manila (US$m) Studio City (US$m) softer performance in the rolling chip segment. City of Dreams (US$m) Altira + Mocha (US$m) Adj. Property EBITDA Margin (%, Right-axis) Melco Adjusted EBITDA 3Q 2019 Adjusted EBITDA increased 42% y-y
Melco Adjusted EBITDA Breakdown (US$ million)(1) Melco Adjusted EBITDA Growth Breakdown(1)
500 417 Vs. 2Q 2019 Vs. 3Q 2018 402 386 388 6 2 7 9 400 68 83 Altira + Mocha +48% +457% 61 50 273 95 City of Dreams -7% +58% 300 6 103 96 106 55 Studio City +12% +19% 200 89
230 229 251 233 Total Macau Property EBITDA 0% +50% 100 147 City of Dreams Manila -40% -10% 25 21 14 20 - 4 (29) (25) (26) (31) (32) Cyprus Operations +47% +42%
(100) 3Q'18 4Q'18 1Q'19 2Q'19 3Q'19 Corporate and Other Expenses +2% +11% Cyprus Operations Corporate and Other Expenses City of Dreams Manila Studio City Total Adjusted EBITDA -7% +42% City of Dreams Altira + Mocha City of Dreams 3Q 2019 Adjusted EBITDA increased 58% y-y
City of Dreams Adjusted EBITDA and Adjusted EBITDA margin(1) (2) City of Dreams Key Operating Metrics
300 35.0% (US$m, unless otherwise 32.0% 31.7% 3Q 2019 Vs. 2Q 2019 Vs. 3Q 2018 31.6% stated) 29.6% 30.0% 250 VIP Rolling Chip 17,179 +15% +39%
VIP win rate (%) 2.69% -47bps +24bps 25.0% 200 24.5% Mass Table Drop 1,406 +2% +5% 20.0% Mass Table Hold % 33.2% +155bps +537bps 150
251 15.0% VIP GGR 462 -2% +53% 230 229 233 100 Mass GGR 466 +8% +25% 10.0% 147 Slots GGR 38 -4% -22% 50 5.0% Total GGR 966 +2% +34%
- 0.0% Total Operating Revenues 787 0% +31% 3Q'18 4Q'18 1Q'19 2Q'19 3Q'19 Adjusted EBITDA (US$m) Adjusted EBITDA margin (%, right-axis) Adjusted EBITDA 233 -7% +58% Studio City 3Q 2019 Adjusted EBITDA increased 19% y-y
Studio City Adjusted EBITDA and Adjusted EBITDA margin(1) (2) Studio City Key Operating Metrics
120 35.0% (US$m, unless otherwise 3Q 2019 Vs. 2Q 2019 Vs. 3Q 2018 31.5% stated) 110 30.1% 29.2% 28.8% 30.0% 100 VIP Rolling Chip 2,775 -11% -46% 25.9% 90 VIP win rate (%) 2.71% -5bps -41bps 25.0% 80 Mass Table Drop 881 0% +9% 70 20.0% Mass Table Hold % 28.4% -75bps +121bps 60 106 50 103 15.0% VIP GGR 75 -12% -53% 96 95 89 40 Mass GGR 250 -2% +14% 10.0% 30 Slots GGR 20 -1% +6% 20 5.0% Total GGR 346 -4% -13% 10
- 0.0% Total Operating Revenues 338 +3% -2% 3Q'18 4Q'18 1Q'19 2Q'19 3Q'19 Adjusted EBITDA (US$m) Adjusted EBITDA margin (%, right-axis) Adjusted EBITDA 106 +12% +19% Altira 3Q 2019 Adjusted EBITDA increased 66% q-q
Altira Macau Adjusted EBITDA and Adjusted EBITDA margin(1) (2) Altira Key Operating Metrics
25 16.0% (US$m, unless otherwise 3Q 2019 Vs. 2Q 2019 Vs. 3Q 2018 14.7% stated) 12.3% 20 11.5% 12.0% VIP Rolling Chip 4,052 -7% -26%
VIP win rate (%) 3.62% +67bps +122bps 15 8.0% 8.1% Mass Table Drop 154 +3% +18%
Mass Table Hold % 21.6% -90bps +336bps 10 20 4.0%
15 VIP GGR 147 +14% +12% 14 5 0.0% (1.1%) 8 Mass GGR 33 -1% +40%
Slots GGR 3 -9% +76% - (4.0%) (1) Total GGR 183 +10% +17%
(5) (8.0%) Total Operating Revenues 114 +9% +26% 3Q'18 4Q'18 1Q'19 2Q'19 3Q'19 Adjusted EBITDA (US$m) Adjusted EBITDA margin (%, right-axis) Adjusted EBITDA 14 +66% n.a. City of Dreams Manila 3Q 2019 Adjusted EBITDA declined 10% y-y
City of Dreams Manila Adjusted EBITDA and Adjusted EBITDA margin(1) (2) City of Dreams Manila Key Operating Metrics
90 55.0% (US$m, unless otherwise 3Q 2019 Vs. 2Q 2019 Vs. 3Q 2018 stated) 50.0% 80 47.0% VIP Rolling Chip 2,437 +28% -18% 43.7% 45.0% 70 42.5% 38.2% 40.0% VIP win rate (%) 0.89% -432bps -178bps 39.0% 60 35.0% Mass Table Drop 202 +5% -1%
50 30.0% Mass Table Hold % 31.3% +86bps -112bps
40 83 25.0% VIP GGR 22 -78% -72% 68 20.0% 30 61 55 Mass GGR 63 +8% -5% 50 15.0% 20 Slots GGR 54 +5% +9% 10.0% 10 5.0% Total GGR 139 -33% -29%
- 0.0% Total Operating Revenues 130 -26% -8% 3Q'18 4Q'18 1Q'19 2Q'19 3Q'19 Adjusted EBITDA (US$m) Adjusted EBITDA margin (%, right-axis) Adjusted EBITDA 50 -40% -10% Cyprus Operations 3Q 2019 Adjusted EBITDA grew 42% y-y
Cyprus Operations Adjusted EBITDA and Adjusted EBITDA margin(1) (2) Cyprus Operations Key Operating Metrics
10 40.0% (US$m, unless otherwise 3Q 2019 Vs. 2Q 2019 Vs. 3Q 2018 stated) 35.7% 35.0% 31.7% VIP Rolling Chip 39 n.a. n.a. 8 32.0% 30.0% VIP win rate (%) 8.66% n.a. n.a.
26.4% 25.0% Mass Table Drop 36 +3% -4% 6 Mass Table Hold % 21.9% +78bps +70bps 20.0% 9 VIP GGR 3 n.a. n.a. 4 15.0% 14.4% 7 Mass GGR 8 +7% -1% 6 6 10.0% 2 Slots GGR 16 +7% +76%
2 5.0% Total GGR 27 +22% +59%
- 0.0% Total Operating Revenues 27 +21% +58% 3Q'18 4Q'18 1Q'19 2Q'19 3Q'19 Adjusted EBITDA (US$m) Adjusted EBITDA margin (%, right-axis) Adjusted EBITDA 9 +47% +42% City of Dreams Manila – Adjusted EBITDA breakdown Share of Adjusted EBITDA from City of Dreams Manila Share of Adjusted EBITDA (Trailing 12 Months, US$ million)(1)
300.0 269.2 271.0 266.5 261.2 257.1 255.1 250.0 235.0 38.3 39.2 40.2 231.4 232.7 37.2 41.4 219.2 37.7 35.4 36.0 36.5 200.0 192.9 35.2 60.8 63.5 57.4 54.9 63.0 61.0 160.3 35.0 52.5 51.7 47.6 48.3 150.0 34.9 125.6 42.7
34.5 34.4 100.0 162.5 162.5 170.1 168.3 163.3 29.0 148.6 158.8 135.7 143.5 147.3 115.2 50.0 91.1 62.1
- 3Q'16 4Q'16 1Q'17 2Q'17 3Q'17 4Q'17 1Q'18 2Q'18 3Q'18 4Q'18 1Q'19 2Q'19 3Q'19
Belle Corp. PLC Melco APPENDIX Melco Adj. EBITDA (assuming normalized VIP win rate) 3Q 2019 Adjusted EBITDA (Normalized for Hold) increased 26% y-y Melco Adjusted EBITDA (Normalized for Hold) Breakdown (US$ million)(1)(2) Melco Adjusted EBITDA (Normalized for Hold) Growth Breakdown(1)
450 All-time record high 407 Vs. 2Q 2019 Vs. 3Q 2018 7 364 400 358 352 6 60 323 2 7 Altira + Mocha +21% +24% 51 350 6 62 60 67 103 300 City of Dreams +13% +44% 100 93 97 250 90 Studio City +3% +15% 200 Total Macau Property EBITDA +10% +34% 150 253 225 209 198 100 175 City of Dreams Manila +16% -11% 50 13 17 15 13 16 - Cyprus Operations +13% +11% (29) (25) (26) (31) (32) (50) Corporate and Other Expenses +2% +11% 3Q'18 4Q'18 1Q'19 2Q'19 3Q'19 Cyprus Operations Corporate and Other Expenses City of Dreams Manila Studio City Total Adjusted EBITDA +12% +26% City of Dreams Altira + Mocha Melco: Macau Mass Table Drop COD and Studio City’s Mass Table Drop both reached all-time record highs
Melco: Macau-only Mass Table Drop (US$ million) City of Dreams (COD): Mass Table Drop (US$ million) 3,000 1,600 1,406 1,338 1,372 2,399 2,441 1,308 1,318 2,308 1,400 2,500 2,199 2,276 2,261 1,226 1,182 1,182 2,147 2,129 1,125 1,110 1,145 2,005 1,200 1,074 1,096 1,060 1,073 1,877 1,906 1,028 2,000 1,756 1,744 1,816 1,826 1,624 1,000 All-time record high 1,500 All-time record high 800
1,000 600 400 500 200
- -
4Q'15 2Q'16 4Q'16 2Q'17 3Q'17 1Q'18 3Q'18 4Q'18 1Q'19 2Q'19 1Q'16 3Q'16 1Q'17 4Q'17 2Q'18 3Q'19
4Q'15
1Q'16
2Q'16
3Q'16
4Q'16
1Q'17
2Q'17
3Q'17
4Q'17
1Q'18
2Q'18
3Q'18
4Q'18
1Q'19
2Q'19 3Q'19
Melco: Macau-only Mass Table Drop growth (Y-Y%) Studio City: Mass Table Drop (US$ million) 45% 1,000 881 39% 848 851 877 40% 16 consecutive quarters of 900 825 814 808 825 800 747 35% positive Mass Table Drop growth 683 29% 700 658 656 661 30% 28% 592 600 547 25% All-time record high 500 17% 18% 20% 15% 17% 365 14% 400 15% 13% 9% 300 8% 10% 7% 7% 200 3% 5% 5% 3% 100
0% -
4Q'15 2Q'16 3Q'16 4Q'16 1Q'17 3Q'17 1Q'18 2Q'18 3Q'18 4Q'18 2Q'19 1Q'16 2Q'17 4Q'17 1Q'19 3Q'19
4Q'15 2Q'16 4Q'16 2Q'17 3Q'17 1Q'18 3Q'18 4Q'18 1Q'19 2Q'19 1Q'16 3Q'16 1Q'17 4Q'17 2Q'18 3Q'19
Source: Company Filings Melco: Table Yield Analysis Continue to optimize table allocation across our portfolio of Integrated Resorts Average number of VIP Gaming Tables Average number of Mass Gaming Tables
3Q’18 4Q’18 1Q’19 2Q’19 3Q’19 3Q’18 4Q’18 1Q’19 2Q’19 3Q’19
Altira 67 66 67 67 65 Altira 39 37 38 37 37
City of Dreams 139 151 155 155 157 City of Dreams 328 326 363 363 360
Studio City 44 46 46 46 45 Studio City 244 247 248 247 247
City of Dreams Manila 125 128 129 131 135 City of Dreams Manila 182 173 173 175 176
Cyprus Operations - - - - 3 Cyprus Operations 33 34 38 38 35
Daily Average Win Per VIP Table (US$) Daily Average Win Per Mass Table (US$)
3Q’18 4Q’18 1Q’19 2Q’19 3Q’19 3Q’18 4Q’18 1Q’19 2Q’19 3Q’19
Altira 21,122 33,235 31,191 21,103 24,501 Altira 6,706 7,282 9,226 9,963 9,768
City of Dreams 23,680 26,266 25,193 33,288 32,042 City of Dreams 12,304 14,433 12,692 13,146 14,072
Studio City 38,681 31,868 21,574 20,596 18,126 Studio City 9,815 9,800 10,835 11,374 11,031
City of Dreams Manila 6,904 7,457 6,290 8,339 1,762 City of Dreams Manila 3,967 3,894 3,612 3,679 3,909
Cyprus Operations - - - - 14,386 Cyprus Operations 2,649 1,780 2,287 2,154 2,452
Source: Melco Resorts City of Dreams Daily GGR Per Table City of Dreams: Daily Average GGR per VIP Table (US$ ‘000) 42.7 45.0 39.8 40.6 40.0 36.0 35.3 32.7 33.4 33.3 32.0 35.0 31.7 31.7 30.0 27.4 28.4 26.9 30.0 26.0 25.7 26.3 25.2 23.8 23.3 23.7 25.0 21.2 21.2 22.4 22.6 19.0 19.0 19.9 20.0 15.0 10.0 5.0 - 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14 2Q'14 3Q'14 4Q'14 1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17 2Q'17 3Q'17 4Q'17 1Q'18 2Q'18 3Q'18 4Q'18 1Q'19 2Q'19 3Q'19 City of Dreams: Daily Average GGR per Mass Table (US$ ‘000)
25.0 20.5 20.0 18.2 18.5 18.1 18.3 15.5 16.4 16.0 14.2 14.4 14.1 15.0 13.8 13.3 13.0 13.2 13.0 13.1 12.5 12.3 12.3 12.1 12.7 12.3 12.7 11.0 11.5 11.5 11.4 11.0 10.0
5.0
- 3Q'12 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14 2Q'14 3Q'14 4Q'14 1Q'15 2Q'15 3Q'15 4Q'15 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17 2Q'17 3Q'17 4Q'17 1Q'18 2Q'18 3Q'18 4Q'18 1Q'19 2Q'19 3Q'19 Melco: Historic Revenue and Adjusted Property EBITDA Over the past 6 years, mass as % of Total GGR increased from 30% to 55%
Melco: Last 12 months Total Operating Revenues (US$ million) Melco: Last 12 months Total Adjusted Property EBITDA (US$ million) 6,000 Total Operating Revenues YoY% (Right-axis) 30% 1,800 Adjusted Property EBITDA YoY% (Right-axis) 50% 1,600 40% 5,000 20% 1,400 30% 4,000 10% 1,200 20% 1,000 10% 3,000 0% 800 0% 2,000 -10% 600 -10% 400 -20% 1,000 -20% 200 -30%
- -30% - -40%
1Q'13
2Q'13
3Q'13
4Q'13
1Q'14
2Q'14
3Q'14
4Q'14
1Q'15
2Q'15
3Q'15
4Q'15
1Q'16
2Q'16
3Q'16
4Q'16
1Q'17
2Q'17
3Q'17
4Q'17
1Q'18
2Q'18
3Q'18
4Q'18
1Q'19
2Q'19 3Q'19
1Q'13
2Q'13
3Q'13
4Q'13
1Q'14
2Q'14
3Q'14
4Q'14
1Q'15
2Q'15
3Q'15
4Q'15
1Q'16
2Q'16
3Q'16
4Q'16
1Q'17
2Q'17
3Q'17
4Q'17
1Q'18
2Q'18
3Q'18
4Q'18
1Q'19 2Q'19 3Q'19
Melco: Last 12 months Total Adjusted Property EBITDA margin Melco: Last 12 months Macau-only VIP & Mass GGR (US$ million) 32% 4,500 VIP Gross Gaming Revenue 70% Mass Gross Gaming Revenue 65% 28% 4,000 Mass as % of Total Gross Gaming Revenue (Right-axis) 60% 24% 3,500 3,000 55% 20% 50% 2,500 16% 45% 2,000 12% 40% 1,500 35% 8% 1,000 30% 4% 500 25%
0% - 20%
2Q'13 4Q'13 1Q'14 3Q'14 1Q'15 2Q'15 4Q'15 1Q'16 3Q'16 1Q'17 2Q'17 4Q'17 2Q'18 3Q'18 1Q'19 3Q'19 1Q'13 3Q'13 2Q'14 4Q'14 3Q'15 2Q'16 4Q'16 3Q'17 1Q'18 4Q'18 2Q'19
1Q'13 3Q'13 1Q'14 3Q'14 4Q'14 2Q'15 4Q'15 2Q'16 3Q'16 4Q'16 1Q'17 3Q'17 1Q'18 3Q'18 4Q'18 2Q'19 2Q'13 4Q'13 2Q'14 1Q'15 3Q'15 1Q'16 2Q'17 4Q'17 2Q'18 1Q'19 3Q'19 Balance Sheet
Maturity Profile as of Sept 30, 2019 (US$ million) Net Debt Position as of end of respective quarter (US$ billion) Debt Instrument 2019 2020 2021 2022 >2022 3.5 Melco Resorts Macau Facility 11 585 296 3.1 Melco Resorts Finance 4.875% Notes 1,000 3.1 Melco Resorts Finance 5.250% Notes 500 3.0 Melco Resorts Finance 5.625% Notes 600 2.6 2.6 2.5 Studio City Company 5.875% Notes 350 2.5 2.4 2.3 Studio City Company 7.250% Notes 850 2.2 2.2 2.1 2.1 Studio City Finance 7.250% Notes 600 2.0 2.0 1.9 Total 361 585 1,146 - 2,700 Liquidity and Capital Resources 1.5
1.0
0.5
-
3Q16
4Q16
1Q17
2Q17
3Q17
4Q17
1Q18
2Q18
3Q18
4Q18
1Q19
2Q19 3Q'19 Shareholder return Returned over US$3.0bn to shareholders from 2016 to 2018 Melco Capital Return Schedule (US$ million) Special Dividend Share Repurchase Regular Dividend Total 1,400 19 44 1,200 9
1,000 77 44 67 800 44 44 800 72 216 600 1,234 943 400 12 850 650 440 200 72 350 67 72 80 80 - 1Q'16 2Q'16 3Q'16 4Q'16 FY16 1Q'17 2Q'17 3Q'17 4Q'17 FY17 1Q'18 2Q'18 3Q'18 4Q'18 FY18 1Q'19 2Q'19 3Q'19
• From 2016-2018, over US$3.0 billion has been returned to Melco Capital Return Schedule (US$ million) shareholders in the form of dividends and share repurchases Share Repurchase Regular Dividend Special Dividend 1,400 1,234 • The company declared another quarterly dividend of 1,200 943 US$0.16512 per ADS for 3Q’19 1,000 850 800 800 674 200 • Special dividends and share repurchases will be considered 600 656 by the Board in consideration of the Company’s earnings 300 400 84 and financial condition, cash availability, future 182 650 200 commitments and other matters as determined by the 350 287 191 35 Board 0 FY14 FY15 FY16 FY17 FY18 Map of Macau and Zhuhai
Map of Macau and Zhuhai New Taipa Ferry Terminal st • Opened on 1 June 2017
• Has annual capacity of 30 million visitors
• 16 berths for passenger ferries, 3 berths for larger ferries and cruise ships
• Heliport with space for 5 helicopters
Hong Kong-Zhuhai-Macau Bridge th • Opened on 24 October 2018
• The 55-km Hong Kong-Zhuhai-Macao Bridge (HZMB), comprising the 12km Hong Kong Link Road, 29.6km Main Bridge and 13.4km Zhuhai Link Road, is the longest bridge-cum-tunnel sea crossing in the world
• Take only 40 minutes to travel the distance of approximately 42km from Hong Kong Port to Zhuhai Port and Macao Port
Macau Light Rapid Transit (LRT) Taipa Line
• The 9.3km Taipa Line will serve 11 stations
• Expected to commence service in 2019
Guangzhou-Zhuhai Intercity Mass Rapid Transit (Hengqin extension)
• A 16.9km rail connecting Gongbei and the Hengqin New Area
• There will be six stations including North Wanzai, Wanzai, Shizimen, Financial Island, Hengqin and Hegqin Chimelong
• Hengqin Station will be the second largest underground train station in China, after Futian station in Shenzhen
• The Hengqin station will be connected to the Lotus Border and Macau LRT Map of Cotai
Map of Cotai
The planned Cotai East Light Rail Station is expected to be located in front of the Grand Hyatt Macau at City of Dreams. The planned Lotus Checkpoint Light Rail Station is expected to offer direct access to Studio Lotus City. Lotus Checkpoint Bridge to Hengqin Island
Future Non- Melco Operating Third Party Third Party Macau Light Gaming Assets Operating Assets Gaming Rail Transit Development Development City of Dreams Mediterranean Scheduled to open in 2021
• City of Dreams Mediterranean, upon completion, will become Europe’s largest premier integrated resort.
• The integrated resort comprises over 100 gaming tables, over 1,000 slot machines, a five- star 500-room hotel, large recreation and wellness facilities, high-end luxury retail, a 1,500-seat outdoor amphitheatre, 9,600 square meters of MICE facilities and Expo Center.
Source: Company filings, Melco Resorts. Morpheus: Exterior Morpheus: Lobby Morpheus: Sky Pool Morpheus: Alain Ducasse at Morpheus Morpheus: Other restaurants
Club Lounge
Voyages by Alain Ducasse Yi Morpheus: Spa Morpheus: Art on 23 Morpheus: Standard room (58 square meters) Morpheus: Prestige Suite (106 square meters) Morpheus: Villas (510 to 582 square meters)
Duplex Villa
Pool Villa THANK YOU