Business Context and Reporting Period
This Form 6-K filing by Melco Resorts & Entertainment Limited (the "Company") is dated June 7, 2024. The report discloses a material corporate governance change regarding the appointment of a new independent registered public accounting firm for the fiscal year ending December 31, 2024.
Financial Metrics
The filing text does not provide specific financial data, including revenue, profit, cash flow, margins, debt, or liquidity metrics. This document is a disclosure of a change in auditors rather than a financial results report.
Material Changes
- Change in Auditor: On June 5, 2024, the Board of Directors approved the appointment of Deloitte & Touche LLP ("Deloitte") as the Company's independent registered public accounting firm, effective immediately.
- Dismissal of Prior Auditor: Ernst & Young LLP ("EY SG") was dismissed as the independent registered public accounting firm effective June 5, 2024.
- Scope of Change: Deloitte replaces EY SG for the audits of consolidated financial statements and internal controls for Melco Resorts & Entertainment Limited, Studio City International Holdings Limited, Melco Resorts Finance Limited, Studio City Finance Limited, and Studio City Investments Limited.
Outlook, Risks, and Management Commentary
- Audit Committee Review: The change was recommended by the Audit Committee following a review process.
- Regulatory Approvals: The replacement of local affiliates of EY SG with Deloitte for certain subsidiaries is subject to approval from relevant local regulatory authorities.
- Historical Audit Opinions: EY SG's audit reports for the years ended December 31, 2023, and 2022, did not contain adverse opinions, disclaimers, or qualifications regarding uncertainty, scope, or accounting principles.
- No Disagreements: There were no disagreements with EY SG on accounting principles, practices, or auditing scope during the 2022 and 2023 fiscal years or the interim period ended June 4, 2024. No "reportable events" occurred.
- Consultations: The Company did not consult with Deloitte regarding accounting principles or audit opinions prior to the appointment.
Key Facts for Investor Verification
- Verify the effective date of the auditor change (June 5, 2024) and the specific subsidiaries affected.
- Confirm the status of local regulatory approvals required for the auditor change in subsidiaries.
- Review the letter from EY SG (Exhibit 16.1) to ensure they agree with the Company's statements regarding the lack of disagreements.
- Note that this filing contains no financial performance data; investors should refer to the most recent Form 20-F or quarterly reports for financial metrics.