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us-gaap:CommonClassBMember us-gaap:CommonStockMember 2022-12-31 0001713334 us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0001713334 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-12-31 0001713334 us-gaap:RetainedEarningsMember 2022-12-31 0001713334 msc:ParticipationInterestMember 2022-12-31 iso4217:USD utr:Year iso4217:HKD shares pure utr:sqm iso4217:USD shares false FY 0001713334 000000 American depositary shares each representing four Class A ordinary shares 20-F false true 2024-12-31 --12-31 2024 false false 001-38699 STUDIO CITY INTERNATIONAL HOLDINGS LIMITED E9 71 Robinson Road #04-03 SG Singapore 068895 38th Floor, The Centrium, 60 Wyndham Street Central HK Company Secretary 852 2598 3600 852 2537 3618 38th Floor, The Centrium, 60 Wyndham Street Central HK MSC NYSE 15(d) 770352700 72511760 No No Yes Yes Accelerated Filer false true false U.S. GAAP false true <div style="font-family: "Times New Roman"; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Cybersecurity Risk Management and Strategy </div></div></div></div><div style="text-indent: 0.76in; font-family: "Times New Roman"; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">We have a cybersecurity risk management program intended to protect the confidentiality, integrity, and availability of our critical systems and information. Our cybersecurity risk management program includes a cybersecurity incident response plan. </div></div></div><div style="text-indent: 0.76in; font-family: "Times New Roman"; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Our cybersecurity risk management program is designed, executed, and assessed based on the principles of internationally recognized frameworks and standards, including ISO27001, the National Institute of Standards and Technology Cybersecurity Framework (“NIST CSF”) and the Payment Card Industry Data Security Standard <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">(“PCI-DSS”)</div> and has been certified against ISO27001. </div></div><div style="text-indent: 0.76in; font-family: "Times New Roman"; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Our cybersecurity risk management program is integrated into our overall enterprise risk management program, and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management program to other legal, compliance, strategic, operational, and financial risk areas. </div></div></div><div style="text-indent: 0.76in; font-family: "Times New Roman"; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Our cybersecurity risk management program includes: </div></div></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.76in;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentcolor; width: 100%; font-family: "Times New Roman"; font-size: 10pt; border-collapse: collapse; text-indent: 0px; border-spacing: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;">•</div></td> <td style="width: 1%; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">risk assessments designed to help identify material cybersecurity risks to our critical systems, information, products, services, and our broader enterprise IT environment; </div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentcolor; width: 100%; font-family: "Times New Roman"; font-size: 10pt; border-collapse: collapse; text-indent: 0px; border-spacing: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;">•</div></td> <td style="width: 1%; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">an information security team principally responsible for managing (1) our cybersecurity risk assessment processes, (2) our security controls, and (3) our response to cybersecurity incidents; </div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentcolor; width: 100%; font-family: "Times New Roman"; font-size: 10pt; border-collapse: collapse; text-indent: 0px; border-spacing: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;">•</div></td> <td style="width: 1%; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">the use of external service providers, where appropriate, to assess, test or otherwise assist with aspects of our information security controls; </div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentcolor; width: 100%; font-family: "Times New Roman"; font-size: 10pt; border-collapse: collapse; text-indent: 0px; border-spacing: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;">•</div></td> <td style="width: 1%; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">cybersecurity awareness training of our directors, senior management, employees and incident response personnel; </div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentcolor; width: 100%; font-family: "Times New Roman"; font-size: 10pt; border-collapse: collapse; text-indent: 0px; border-spacing: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;">•</div></td> <td style="width: 1%; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">a cybersecurity incident response plan that includes procedures for responding to cybersecurity incidents; and </div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentcolor; width: 100%; font-family: "Times New Roman"; font-size: 10pt; border-collapse: collapse; text-indent: 0px; border-spacing: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;">•</div></td> <td style="width: 1%; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: left; vertical-align: top; font-size: 10pt;"><div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">a third-party risk management process for service providers, suppliers, and vendors<div style="display:inline;">,</div></div></div> <div style="color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; top: 0px;display:inline;">including oversight and identification of cybersecurity risks.</div><br/> <div style="letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background: none;display:inline;"> </div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="text-indent: 0.77in; font-family: "Times New Roman"; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">We have not identified risks from known cybersecurity threats, including as a result of any prior cybersecurity incidents, that have materially affected us, including our operations, business strategy, results of operations, or financial condition. We face risks from cybersecurity threats that, if realized, are reasonably likely to materially affect us, including our operations, business strategy, results of operations, or financial condition. See “Item 3. Key Information — D. Risk Factors — Risks Relating to Our Business — Information technology and other systems that we depend on are subject to cybersecurity risks, including disruptions to systems and operations, misappropriation of customer information, other breaches of information security or other cybercrimes, as well as regulatory and other risks” and “— Failure to protect the integrity and security of company staff, supplier and customer information and comply with cybersecurity, data privacy, data protection or any other laws and regulations related to data may materially and adversely affect our business, financial condition and results of operations, and/or result in damage to reputation and/or subject us to fines, penalties, lawsuits, restrictions on our use or transfer of data and other risks.” </div></div></div> <div style="text-indent: 0.76in; font-family: "Times New Roman"; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Our cybersecurity risk management program is integrated into our overall enterprise risk management program, and shares common methodologies, reporting channels and governance processes that apply across the enterprise risk management program to other legal, compliance, strategic, operational, and financial risk areas. </div></div></div><div style="text-indent: 0.76in; font-family: "Times New Roman"; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Our cybersecurity risk management program includes: </div></div></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt; text-indent: 0.76in;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentcolor; width: 100%; font-family: "Times New Roman"; font-size: 10pt; border-collapse: collapse; text-indent: 0px; border-spacing: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;">•</div></td> <td style="width: 1%; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">risk assessments designed to help identify material cybersecurity risks to our critical systems, information, products, services, and our broader enterprise IT environment; </div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentcolor; width: 100%; font-family: "Times New Roman"; font-size: 10pt; border-collapse: collapse; text-indent: 0px; border-spacing: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;">•</div></td> <td style="width: 1%; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">an information security team principally responsible for managing (1) our cybersecurity risk assessment processes, (2) our security controls, and (3) our response to cybersecurity incidents; </div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentcolor; width: 100%; font-family: "Times New Roman"; font-size: 10pt; border-collapse: collapse; text-indent: 0px; border-spacing: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;">•</div></td> <td style="width: 1%; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">the use of external service providers, where appropriate, to assess, test or otherwise assist with aspects of our information security controls; </div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentcolor; width: 100%; font-family: "Times New Roman"; font-size: 10pt; border-collapse: collapse; text-indent: 0px; border-spacing: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;">•</div></td> <td style="width: 1%; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">cybersecurity awareness training of our directors, senior management, employees and incident response personnel; </div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentcolor; width: 100%; font-family: "Times New Roman"; font-size: 10pt; border-collapse: collapse; text-indent: 0px; border-spacing: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;">•</div></td> <td style="width: 1%; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">a cybersecurity incident response plan that includes procedures for responding to cybersecurity incidents; and </div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentcolor; width: 100%; font-family: "Times New Roman"; font-size: 10pt; border-collapse: collapse; text-indent: 0px; border-spacing: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="width: 3%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;">•</div></td> <td style="width: 1%; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: left; vertical-align: top; font-size: 10pt;"><div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">a third-party risk management process for service providers, suppliers, and vendors<div style="display:inline;">,</div></div></div> <div style="color: rgb(0, 0, 0); font-family: "Times New Roman"; font-size: 13.3333px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: left; text-indent: 0px; text-transform: none; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; white-space: normal; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial; float: none; display: inline !important; top: 0px;display:inline;">including oversight and identification of cybersecurity risks.</div><br/> <div style="letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background: none;display:inline;"> </div></div></div></td></tr></table> true true true We have not identified risks from known cybersecurity threats, including as a result of any prior cybersecurity incidents, that have materially affected us, including our operations, business strategy, results of operations, or financial condition. We face risks from cybersecurity threats that, if realized, are reasonably likely to materially affect us, including our operations, business strategy, results of operations, or financial condition. false <div style="font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">Cybersecurity Governance</div></div></div></div><div style="text-indent: 0.77in; font-family: "Times New Roman"; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Our board considers cybersecurity risk as part of its risk oversight function and has delegated to the audit and risk committee oversight of cybersecurity and other information technology risks. The audit and risk committee oversees management’s implementation of our cybersecurity risk management program. </div></div></div><div style="text-indent: 0.77in; font-family: "Times New Roman"; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The audit and risk committee receives regular reports from management on our cybersecurity risks. In addition, management updates the audit and risk committee, as necessary, regarding any material cybersecurity incidents, as well as any incidents with lesser impact potential. </div></div></div><div style="text-indent: 0.77in; font-family: "Times New Roman"; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The audit and risk committee reports to the full board regarding its activities, including those related to cybersecurity. The full board also receives briefings from management on our cyber risk management program. Board members receive presentations on cybersecurity topics from the chief information security officer of Melco Resorts and external experts as part of the board’s continuing education on topics that impact public companies. </div></div></div><div style="text-indent: 0.77in; font-family: "Times New Roman"; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Our cybersecurity risk management team, including the chief information security officer of Melco Resorts, is responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Our cybersecurity risk management team’s experience includes previous work experience in senior cybersecurity and risk management roles in various industries including financial services and technology. Our cybersecurity risk management team also holds multiple security credentials such as Certified Information Systems Auditor, Certified Information Systems Security Professional, Certified Information Security Manager, ISO Lead Auditor Practitioner, and Certified in Risk and Systems Information Control certifications as well as various technology certifications. The team also engages leading cybersecurity and forensic incident response external service providers to provide extensive capability to run, review, challenge and advise on operational enhancements, and provide incident response capability during an incident, as required. Our cybersecurity risk management team, including the chief information security officer of Melco Resorts, provides services to us pursuant to the Management and Shared Services Arrangements. </div></div></div><div style="text-indent: 0.77in; font-family: "Times New Roman"; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Our cybersecurity risk management team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in the IT environment.</div></div></div> <div style="text-indent: 0.77in; font-family: "Times New Roman"; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The audit and risk committee receives regular reports from management on our cybersecurity risks. In addition, management updates the audit and risk committee, as necessary, regarding any material cybersecurity incidents, as well as any incidents with lesser impact potential. </div></div></div><div style="text-indent: 0.77in; font-family: "Times New Roman"; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The audit and risk committee reports to the full board regarding its activities, including those related to cybersecurity. The full board also receives briefings from management on our cyber risk management program. Board members receive presentations on cybersecurity topics from the chief information security officer of Melco Resorts and external experts as part of the board’s continuing education on topics that impact public companies. </div></div></div> The audit and risk committee receives regular reports from management on our cybersecurity risks. In addition, management updates the audit and risk committee, as necessary, regarding any material cybersecurity incidents, as well as any incidents with lesser impact potential. true <div style="text-indent: 0.77in; font-family: "Times New Roman"; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Our cybersecurity risk management team, including the chief information security officer of Melco Resorts, is responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. Our cybersecurity risk management team’s experience includes previous work experience in senior cybersecurity and risk management roles in various industries including financial services and technology. Our cybersecurity risk management team also holds multiple security credentials such as Certified Information Systems Auditor, Certified Information Systems Security Professional, Certified Information Security Manager, ISO Lead Auditor Practitioner, and Certified in Risk and Systems Information Control certifications as well as various technology certifications. The team also engages leading cybersecurity and forensic incident response external service providers to provide extensive capability to run, review, challenge and advise on operational enhancements, and provide incident response capability during an incident, as required. Our cybersecurity risk management team, including the chief information security officer of Melco Resorts, provides services to us pursuant to the Management and Shared Services Arrangements. </div></div></div><div style="text-indent: 0.77in; font-family: "Times New Roman"; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Our cybersecurity risk management team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in the IT environment.</div></div></div> Our cybersecurity risk management team, including the chief information security officer of Melco Resorts, is responsible for assessing and managing our material risks from cybersecurity threats. The team has primary responsibility for our overall cybersecurity risk management program and supervises both our internal cybersecurity personnel and our retained external cybersecurity consultants. true Our cybersecurity risk management team’s experience includes previous work experience in senior cybersecurity and risk management roles in various industries including financial services and technology. Our cybersecurity risk management team also holds multiple security credentials such as Certified Information Systems Auditor, Certified Information Systems Security Professional, Certified Information Security Manager, ISO Lead Auditor Practitioner, and Certified in Risk and Systems Information Control certifications as well as various technology certifications. Our cybersecurity risk management team supervises efforts to prevent, detect, mitigate, and remediate cybersecurity risks and incidents through various means, which may include briefings from internal security personnel; threat intelligence and other information obtained from governmental, public or private sources, including external consultants engaged by us; and alerts and reports produced by security tools deployed in the IT environment.

http://fasb.org/us-gaap/2024#RelatedPartyMember

http://www.studiocityinternationalholdingsltd.com/20241231#AccruedExpensesAndOtherCurrentLiabilities

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<table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentColor; border-image: none; width: 100%; font-family: Times New Roman; font-size: 10pt; border-collapse: collapse;text-indent: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 4%; text-align: left; vertical-align: top;"><div style="display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">1.</div></div></div></td> <td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">ORGANIZATION AND BUSINESS </div></div></div></div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman;font-weight:bold">Company Information </div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"> </div></div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Studio City International Holdings Limited (“SCIH”) is an exempted company with limited liability registered by way of continuation in the Cayman Islands and its American depositary shares (“ADSs”) are listed on the New York Stock Exchange under the symbol “MSC” in the United States of America (the “U.S.”). </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">SCIH together with its subsidiaries (collectively referred to as the “Company”) currently operates <div style="white-space:nowrap;display:inline;">the non-gaming operations</div> of Studio City, a cinematically-themed integrated resort in Cotai, the Macau Special Administrative Region of the People’s Republic of China (“Macau”), and provides services pursuant to a casino contract to Melco Resorts (Macau) Limited (“MRM”), a subsidiary of Melco Resorts & Entertainment Limited (“Melco”), which holds the gaming concession in Macau, for the operations of the gaming area at Studio City (“Studio City Casino”). Melco’s ADSs are listed on the Nasdaq Global Select Market in the U.S. </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">SCIH authorized two classes of ordinary shares, the Class A ordinary shares and the Class B ordinary shares, in each case with a par value of $0.0001 each. The Class A ordinary share and Class B ordinary share have the same rights, except that holders of the Class B ordinary shares do not have any right to receive dividends or distributions upon the liquidation or winding up of SCIH or to otherwise share in profits and surplus assets. MCO Cotai Investments Limited, a subsidiary of Melco, through its ownership of the Class A ordinary shares, is the controlling shareholder of SCIH. New Cotai, LLC (“New Cotai”), a private company organized in the U.S., is the holder of all outstanding Class B ordinary shares which have only voting and no economic rights. New Cotai has a <div style="white-space:nowrap;display:inline;">non-voting,</div> <div style="white-space:nowrap;display:inline;">non-shareholding</div> economic participation interest (“Participation Interest”) in MSC Cotai Limited (“MSC Cotai”), a subsidiary of SCIH, which entitles New Cotai to receive from MSC Cotai an amount equal to a certain percentage of the amount of any distribution, dividend or other consideration paid by MSC Cotai to SCIH, subject to adjustments, exceptions and conditions as set out in the participation agreement (the “Participation Agreement”) entered into by MSC Cotai, New Cotai and SCIH in 2018 (the “MSC Cotai’s Distribution”). The Participation Agreement also provides that New Cotai is entitled to exchange all or a portion of its Participation Interest for a number of Class A ordinary shares subject to adjustments, exceptions and conditions as set out in the Participation Agreement and a proportionate number of Class B ordinary shares will be deemed surrendered and automatically cancelled for no consideration as set out in the Participation Agreement when New Cotai exchanges all or a portion of the Participation Interest for Class A ordinary shares. As of December 31, 2024 and 2023, the Participation Interest entitled New Cotai to receive from MSC Cotai an amount equal to approximately 9.4% of the MSC Cotai’s Distribution in each of those years. </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Melco International Development Limited (“Melco International”), a company listed in the Hong Kong Special Administrative Region of the People’s Republic of China (“Hong Kong”), is the single largest shareholder of Melco. </div>

0.0001

0.094 0.094

<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%;text-indent: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">2.</div></div></td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="font-weight:bold;display:inline;">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES </div></div></td></tr></table> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%;text-indent: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(a)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Basis of Presentation and Principles of Consolidation</div></div> </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">On December 16, 2022, the Macau government awarded a <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">ten-year</div> concession to operate games of fortune and chance in casinos in Macau (the “Concession”) to MRM. The term of the Concession commenced on January 1, 2023 and ends on December 31, 2032. Under the Concession, MRM is </div> <div style="margin-top:0pt;margin-bottom:0pt ; font-size:8pt;text-indent: 0px;"></div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center;text-indent: 0px;"> </div> <div style="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">authorized to operate the Studio City Casino. On December 31, 2022, the previous gaming subconcession contract of MRM to operate its gaming business in Macau expired, which coincided with the extended expiration date of all other concessions and subconcessions in Macau. </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">On June 23, 2022, MRM and Studio City Entertainment Limited (“SCE”), a subsidiary of SCIH, amended a services and right to use agreement dated May 11, 2007, as amended, together with related agreements (the “Studio City Casino Agreement”) to align such agreement with the enacted amendments to the Macau gaming law. Under the Studio City Casino Agreement, MRM agreed to operate the Studio City Casino since the Company does not hold a gaming concession in Macau. In addition, certain conditions imposed by the Macau government relating to the previous agreement, including in relation to shareholding requirements for certain direct and indirect shareholders of SCE, were no longer applicable. MRM deducts gaming taxes and the costs incurred in connection with its operations from Studio City Casino’s gross gaming revenues. The residual gross gaming revenues which the Company receives as revenue is captioned as revenue from casino contract. </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">In December 2015, SCIH and certain of its subsidiaries entered into a master services agreement; and certain of its subsidiaries entered into related work agreements (collectively, the “Management and Shared Services Arrangements”) with certain of Melco’s subsidiaries with respect to services provided to and from Studio City, which expired in June 2022 and were extended to December 31, 2032 in March 2023. </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Under the Management and Shared Services Arrangements, certain of the corporate and administrative functions as well as operational activities of the Company are administered by staff employed by certain Melco subsidiaries, including senior management services, centralized corporate functions and operational and venue support services. Payment arrangements for the services are provided for in the individual work agreements and may vary depending on the services provided. Corporate services are charged at <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">pre-negotiated</div> rates, subject to a base fee and cap. Senior management service fees and staff costs on operational services are allocated to the Company based on percentages of efforts on the services provided to the Company. Other costs in relation to shared office equipment are allocated based on a percentage of usage.</div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company believes the costs incurred under the Studio City Casino Agreement and the allocation methods under the Management and Shared Services Arrangements are reasonable and the accompanying consolidated financial statements reflect the Company’s cost of doing business. However, such allocations may not be indicative of the actual expenses the Company would have incurred had it operated as an independent company for the periods presented. Details of the services and related charges are disclosed in Note 19. </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The accompanying consolidated financial statements have b<div style="letter-spacing: 0px; top: 0px;display:inline;">een </div>prepared in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”). </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The accompanying consolidated financial statements include the accounts of SCIH and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. </div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(b)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Use of Estimates</div></div> </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets </div> <div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"></div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center"> </div><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;text-indent: 0px;"></div><div style="letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"> and liabilities, revenues and expenses and related disclosures of contingent assets and liabilities. Estimates are used for, but not limited to, inputs into Company’s estimate allowances for deferred tax assets and credit losses, useful lives and recoverability of long-lived assets and intangible assets, litigation and contingency estimates. These estimates and judgments are based on historical information, information that is currently available to the Company and on various other assumptions that the Company believes to be reasonable under the circumstances. Accordingly, actual results could differ from those estimates. </div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"><br/> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%;text-indent: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(c)<div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Fair Value of Financial Instruments</div></div> </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e. the “exit price”) in an orderly transaction between market participants at the measurement date. The Company estimated the fair values using appropriate valuation methodologies and market information available as of the balance sheet date. </div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%;text-indent: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(d)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Cash and Cash Equivalents </div></div> </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Cash and cash equivalents consist of cash and highly liquid investments with original maturities of three months or less. Cash equivalents consist of bank time deposits placed with financial institutions with high-credit ratings and quality. </div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%;text-indent: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(e)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Restricted Cash </div></div> </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The current portion of restricted cash, if any, represents cash deposited into bank accounts which are restricted as to withdrawal and use and the Company expects these funds will be released or utilized in accordance with the terms of the respective agreements within the next twelve months, while the <div style="white-space:nowrap;display:inline;">non-current</div> portion of restricted cash represents funds that will not be released or utilized within the next twelve months. Restricted cash mainly represents collateral bank accounts associated with borrowings under the credit facilities. </div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"><br/> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%;text-indent: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(f)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Accounts Receivable and Credit Risk</div></div> </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Accounts receivable, including hotel and other receivables, are typically <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">non-interest</div> bearing and are recorded at amortized cost. Accounts are written off when management deems it is probable the receivables are uncollectible. Recoveries of accounts previously written off are recorded when received. An estimated allowance for credit losses is maintained to reduce the Company’s receivables to their carrying amounts, which reflects the net amount the Company expects to collect. The allowance for credit losses is estimated based on specific reviews of the age of the balances owed, the customers’ financial condition, management’s experience with the collection trends of the customers, current business and economic conditions, and management’s expectations of future business and economic conditions. </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Management believes that as of December 31, 2024 and 2023, no significant concentrations of credit risk existed for which an allowance had not already been recorded. </div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%;text-indent: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(g)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Inventories</div></div> </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Inventories consist of retail m<div style="letter-spacing: 0px; top: 0px;display:inline;">erch</div>andise, food and beverage items and certain operating supplies, which are stated at the lower of cost or net realizable value. Cost is calculated using the weighted average method. </div> <div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"> </div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center"> </div><div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"></div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"></div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%;text-indent: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(h)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Prepaid Expenses and Other Current Assets</div></div> </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Prepaid expenses and other current assets represent current assets that are typically used up or expire within the normal operating cycle of the Company. The prepaid expenses as of December 31, 2024 and 2023 were $25,874 and $35,432, respectively, and the other current assets as of December 31, 2024 and 2023 were $3,266 and $3,565, respectively. </div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%;text-indent: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(i)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Property and Equipment</div></div> </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Property and equipment are stated at cost, net of accumulated depreciation and amortization, and accumulated impairment, if any. Gains or losses on dispositions of property and equipment are included in the accompanying consolidated statements of operations. Major additions, renewals and betterments are capitalized, while maintenance and repairs are expensed as incurred. </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">During the construction and development stage of Studio City, direct and incremental costs related to the design and construction, including costs under construction contracts, duties and tariffs, equipment installations, shipping costs, payroll and payroll-benefit related costs, applicable portions of interest, including amortization of deferred financing costs, are capitalized in property and equipment. The capitalization of such costs begins when the construction and development of a project starts and ceases once the construction is substantially completed or development activities are substantially suspended.</div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Depreciation and amortization expense related to capitalized construction costs and other property and equipment is recognized from the time each asset is placed in service. This may occur at different stages as Studio City’s facilities are completed and opened. </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Property and equipment are depreciated and amortized over the following estimated useful lives on a straight-line basis: </div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:82%;border:0;margin:0 auto;text-indent: 0px;"> <tr> <td style="width:37%"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:62%"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Buildings</div></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;">4 </div></div>to <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;">40 </div></div>years</div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Furniture, fixtures and equipment</div></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;">2 </div></div>to <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;">15 </div></div>years</div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Leasehold improvements</div></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;">5</div> </div>to 10 years or over the lease term, whichever is shorter</div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align:bottom">Motor vehicles</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"><div style="letter-spacing: 0px; top: 0px;display:inline;">5 </div>years</td></tr></table> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%;text-indent: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(j)<div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Capitalized Interest</div></div> </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Interest, including amortization of deferred financing costs, associated with major development and construction projects is capitalized and included in the cost of the projects. The capitalization of interest ceases when the project is substantially completed or the development activities are substantially suspended. The amount to be capitalized is determined by applying the weighted average interest rate of the Company’s outstanding borrowings to the average amount of accumulated qualifying capital expenditures for assets under construction during the year. Total interest expense incurred amounted to $<div style="letter-spacing: 0px; top: 0px;display:inline;">133,594</div>, $<div style="letter-spacing: 0px; top: 0px;display:inline;">144,806 </div>and $<div style="letter-spacing: 0px; top: 0px;display:inline;">141,977</div>, of which nil, $<div style="letter-spacing: 0px; top: 0px;display:inline;">15,239 </div>and $<div style="letter-spacing: 0px; top: 0px;display:inline;">49,619 </div>were capitalized during the years ended December 31, 2024, 2023 and 2022, respectively. </div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%;text-indent: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(k)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Other Long-term Assets</div></div> </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Before the amendment of the Studio City Casino Agreement on June 23, 2022, other long-term assets, net represents the payments for the future economic benefits of certain property and equipment for the operation of Studio City Casino (the “Studio City Gaming Assets”), transferred from MRM to the Company, less subsequent accumulated amortization and accumulated impairment, if any. After the </div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"></div> <div style="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">amendment of the Studio City Casino Agreement on June 23, 2022, other long-term assets, net represents the payments to MRM from the Company for the future economic benefits of the Studio City Casino Agreement for the operation of Studio City Casino, less subsequent accumulated amortization and accumulated impairment, if any. </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Other long-term assets are amortized using the straight-line method over the respective estimated useful lives of the Studio City Gaming Assets, ranging from <div style="letter-spacing: 0px; top: 0px;display:inline;">2 </div>to <div style="letter-spacing: 0px; top: 0px;display:inline;">10 </div>years. The legal ownership of the Studio City Gaming Assets was previously retained by MRM. The Reversion Assets (as defined in Note 5) (including certain of the Studio City Gaming Assets) that reverted to the Macau government at the expiration of the previous gaming subconcession on December 31, 2022, are currently owned by the Macau government. Effective as of January 1, 2023, the Reversion Assets were transferred by the Macau government to MRM for the duration of the Concession, in return for annual payments for the right to use and operate the Reversion Assets as disclosed in Note 5. </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The cost of the <div style="letter-spacing: 0px; top: 0px;display:inline;">other</div> long-term assets is derecognized upon disposal or when no future economic benefits are expected to arise from the continued use of an item of the Studio City Gaming Assets in Studio City Casino. Generally, any gain or loss arising on the disposal or retirement of cost of other long-term assets is determined as the difference between the sale proceeds and the carrying amount of the future economic benefits of the Studio City Casino Agreement generated from an item of the Studio City Gaming Assets and is recognized in the accompanying co<div style="letter-spacing: 0px; top: 0px;display:inline;">nsolid</div>ated statements of operations. </div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(l)<div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Intangible Assets</div></div> </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Intangible assets are amortized over their useful lives unless their lives are determined to be indefinite in which case they are not amortized. Intangible assets are stated at cost, net of accumulated amortization. The Company’s intangible assets, which are finite-lived, consist of <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">internal-use</div> software. Finite-lived intangible assets are amortized over the shorter of their contractual terms or estimated useful lives on a straight-line basis. </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Costs incurred to develop software for internal use are capitalized and amortized over the estimated useful lives of the software of 3 years on a straight-line basis. The capitalization of such costs begins during the application development stage of the software project and ceases once the software project is substantially complete and ready for its intended use. Costs of specified upgrades and enhancements to the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">internal-use</div> software are capitalized, while costs associated with preliminary project stage activities, training, maintenance and all other post-implementation stage activities are expensed as incurred. </div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(m)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Impairment of Long-lived Assets </div></div> </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company evaluates the long-lived assets with finite lives to be held and used for impairment whenever indicators of impairment exist. The Company then compares the estimated future cash flows of the assets, on an undiscounted basis, to the carrying values of the assets. Estimating future cash flows of the assets involves significant assumptions, including future revenue growth rates, future market conditions and gross margin. If the undiscounted cash flows exceed the carrying values, no impairments are indicated. If the undiscounted cash flows do not exceed the carrying values, then an impairment charge is recorded based on the fair values of the assets, typically measured using a discounted cash flow model involving significant assumptions, such as discount rates. If an asset is still under development, future cash flows include remaining construction costs.</div> <div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"> </div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center"> </div><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;text-indent: 0px;"></div> <div style="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">No impairment of long-lived assets was recognized during the years ended December 31, 2024, 2023 and 2022. </div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%;text-indent: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(n)<div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Deferred Financing Costs</div></div> </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Direct and incremental costs incurred in obtaining loans or in connection with the issuance of long-term debt are capitalized and amortized to interest expense over the terms of the related debt agreements using the effective interest method. Deferred financing costs incurred in connection with the issuance of revolving credit facilities are included in other assets, either current or <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">non-current,</div> in the accompanying consolidated balance sheets, based on the maturity of each revolving credit facility. All other deferred financing costs are presented as a reduction of long-term debt in the accompanying consolidated balance sheets. </div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%;text-indent: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(o)<div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Land Use Right</div></div> </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Land use right represents the upfront land premium paid for the use of land held under an operating lease, which is stated at cost, net of accumulated amortization. Amortization is recognized over the estimated term of the land use right of 40 years on a straight-line basis. </div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%;text-indent: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(p)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Leases</div></div> </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">At the inception of the contract or upon modification, the Company will perform an assessment as to whether the contract is a lease or contains a lease. A contract is or contains a lease if the contract conveys the right to control the use of an identified asset for a period in exchange for consideration. A lessee has control of an identified asset if it has both the right to direct the use of the asset and the right to receive substantially all of the economic benefits from the use of the asset. </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Finance and operating lease <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space:nowrap;display:inline;">right-of-use</div></div> assets and liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. The initial measurement of the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space:nowrap;display:inline;">right-of-use</div></div> assets also includes any prepaid lease payments and any initial direct costs incurred and is reduced by any lease incentive received. For leases where the rate implicit in the lease is not readily determinable, the Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The expected lease terms include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such option. Lease expense for minimum lease payments is recognized on a straight-line basis over the expected lease term. Leases with an expected term of 12 months or less are not accounted for on the balance sheet and the related lease expense is recognized on a straight-line basis over the expected lease term. </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">The Company’s lease contracts have lease and <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">non-lease</div> components. For contracts in which the Company is a lessee, the Company accounts for the lease components and <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">non-lease</div> components as a single lease component for all classes of underlying assets, except for real estate. For contracts in which the Company is a lessor, all are accounted for as operating leases, and the lease components and <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">non-lease</div> components are accounted for separately. </div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%;text-indent: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(q)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Revenue Recognition</div></div> </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">The Company’s revenues from contracts with customers consist of revenue from casino contract, sales of rooms, food and beverage, entertainment, retail and other goods and services. </div> <div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"> </div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center"> </div><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"></div><div style="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Revenue from casino contract represents revenue arising from the Studio City Casino Agreement for the operations of Studio City Casino by MRM. Under the Studio City Casino Agreement, MRM deducts gaming taxes and the costs incurred in connection with its operations from Studio City Casino’s gross gaming revenues, including the standalone selling prices of complimentary services within Studio City provided to the gaming patrons of Studio City Casino. The residual amount which the Company receives as revenue is captioned as revenue from casino contract. The Company has concluded that it is not the controlling entity to the arrangements and recognizes the revenue from casino contract on a net basis. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Non-gaming</div> revenues include services provided for cash consideration and services provided on a complimentary basis to the gaming patrons at Studio City. The transaction prices for rooms, food and beverage, entertainment, retail and other goods and services are the net amounts collected from customers for such goods and services that are recorded as revenues when the goods are provided, services are performed or events are held. Service taxes and other applicable taxes collected by the Company are excluded from revenues. Advance deposits on rooms and advance ticket sales are recorded as customer deposits until services are provided to the customers. Revenues from contracts with multiple goods or services provided by the Company are allocated to each good or service based on its relative standalone selling price. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company follows the accounting standards for reporting revenue gross as a principal versus net as an agent, when accounting for the operations of one of its externally managed hotels and concluded that it is the controlling entity and is the principal to this arrangement. For the operations of this externally managed hotel, as the Company is the owner of the hotel property, the hotel manager operates the hotel under a management agreement providing management services to the Company, and the Company receives all rewards and takes substantial risks associated with the hotel’s business, it is the principal and the transactions are, therefore, recognized on a gross basis. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Minimum operating and right to use fees representing lease revenues, adjusted for contractual base fees and operating fee escalations, are included in mall revenues and are recognized over the terms of the related agreements on a straight-line basis. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Contract and Contract-Related Liabilities </div></div></div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">In providing goods and services to customers, there may be a timing difference between cash receipts from customers and recognition of revenues, resulting in a contract or contract-related liability. The Company’s primary types of liabilities related to contracts with customers are advance deposits on rooms and advance ticket sales which represent cash received in advance for goods or services yet to be provided. These amounts are included in accrued expenses and other current liabilities on the accompanying consolidated balance sheets and will be recognized as revenues when the goods or services are provided or the events are held. Decreases in this balance generally represent the recognition of revenues and increases in the balance represent additional deposits made by customers. The deposits are expected to primarily be recognized as revenues within one year. Advance customer deposits and ticket sales of $5,644<div style="letter-spacing: 0px; top: 0px;display:inline;"> </div>as of December 31, 2024 increased by $1,212<div style="letter-spacing: 0px; top: 0px;display:inline;"> </div>from the balance of $4,432 as of December 31, 2023. Advance customer deposits and ticket sales of $4,432 as of December 31, 2023 increased by $2,639 from the balance of $1,793 as of December 31, 2022. </div><div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"> </div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center"> </div><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"></div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(r)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Pre-opening</div> Costs </div></div> </div></td></tr></table><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Pre-opening</div> costs represent personnel, marketing and other costs incurred prior to the opening of new or <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">start-up</div> operations and are expensed as incurred. During the years ended December 31, 2024, 2023 and 2022, the Company incurred <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">pre-opening</div> costs in connection with the development of Studio City Phase 2 and other <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">one-off</div> activities related to the marketing of new facilities and operations of Studio City. </div><div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(s)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Advertising and Promotional Costs</div></div> </div></td></tr></table><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company expenses advertising and promotional costs the first time the advertising takes place or as incurred. Advertising and promotional costs included in the accompanying consolidated statements of operations were $33,165, $22,668 and $3,692 for the years ended December 31, 2024, 2023 and 2022, respectively. </div><div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(t)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Interest Income</div></div> </div></td></tr></table><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Interest income is recorded on an accrual basis at the stated interest rate and is recorded in interest income in the accompanying consolidated statements of operations. </div><div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(u)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Foreign Currency Transactions and Translations </div></div> </div></td></tr></table><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">All transactions in currencies other than functional currencies of SCIH and its subsidiaries during the year are remeasured at the exchange rates prevailing on the respective transaction dates. Monetary assets and liabilities existing at the balance sheet date denominated in currencies other than functional currencies are remeasured at the exchange rates existing on that date. Exchange differences are recorded in the accompanying consolidated statements of operations. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The functional currency of SCIH is the U.S. dollar (“$” or “US$”) and the functional currency of most of SCIH’s foreign subsidiaries is the local currency in which the subsidiary operates. All assets and liabilities are translated at the rates of exchange prevailing at the balance sheet date and all income and expense items are translated at the average rates of exchange over the year. All exchange differences arising from the translation of foreign subsidiaries’ financial statements are recorded as a component of other comprehensive income (loss). </div><div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(v)<div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Comprehensive Loss and Accumulated Other Comprehensive Income (Losses</div></div>) </div></td></tr></table><div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 9%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Comprehensive loss includes net loss and other <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">non-shareholder</div> changes in equity, or other comprehensive income (loss). Components of Company’s comprehensive loss are reported in the accompanying consolidated statements of equity and consolidated statements of comprehensive loss. </div></div><div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 9%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">As of December 31, 2024 and 2023, the Company’s accumulated other comprehensive income (losses) consisted solely of foreign currency translation adjustments, net of tax and participation interest. </div></div></div><div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(w)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Income Tax</div></div> </div></td></tr></table><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company is subject to income taxes in Macau and Hong Kong where it operates. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Deferred income taxes are recognized for all significant temporary differences between the tax basis of assets and liabilities and their reported amounts in the accompanying consolidated financial statements. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. </div><div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"> </div><div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center"> </div><div style="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">The Company’s income tax returns are subject to examination by tax authorities in the jurisdictions where it operates. The Company assesses potentially unfavorable outcomes of such examinations based on accounting standards for uncertain income taxes. These accounting standards utilize a <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">two-step</div> approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position, based on the technical merits of the position, will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount which is more than <div style="letter-spacing: 0px; top: 0px;display:inline;">50</div>% likely, based on cumulative probability. </div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; border-collapse: collapse; font-family: "Times New Roman"; font-size: 10pt; border: 0px; width: 100%; text-indent: 0px; border-spacing: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(x)</td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Net Loss Attributable to Studio City International Holdings Limited Per Class</div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"> A Ordinary Share</div></div> </div> </td> </tr> </table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Basic net loss attributable to Studio City International Holdings Limited per Class A ordinary share is calculated by dividing the net loss attributable to Studio City International Holdings Limited by the weighted average number of Class A ordinary shares outstanding during the year. </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Diluted net loss attributable to Studio City International Holdings Limited per Class A ordinary share is calculated by dividing the net loss attributable to Studio City International Holdings Limited adjusted for participation interest by the weighted average number of Class A ordinary shares outstanding during the year adjusted to include the number of additional Class A ordinary shares that would have been outstanding if potential dilutive securities had been issued and the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">if-converted</div> method is applied for the potential dilutive effect of the exchange of Class B ordinary shares for the proportionate number of Class A ordinary shares. During the years ended December 31, 2024 and 2023, there were anti-dilutive Class A ordinary shares that would have been outstanding if potential dilutive securities had been issued and the if-converted method is applied for the potential dilutive effect of the exchange of Class B ordinary shares for the proportionate number of Class A ordinary shares. </div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 9%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Basic and diluted net loss attributable to Studio City International Holdings Limited per Class A ordinary share does not include Class B ordinary shares as such shares do not participate in the net loss of SCIH. As a result, Class B ordinary shares are not considered participating securities and are not included in the weighted average number of shares outstanding for purposes of computing net loss attributable to Studio City International Holdings Limited per share.</div></div></div> <div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: 'Times New Roman'; text-align: center;text-indent: 0px;"></div> <div style="letter-spacing: 0px; top: 0px; text-indent: 0px; background: none;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div> <div style="clear:both;max-height:0pt;"></div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"></div> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"></div> <div style="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">The weighted average number of Class A ordinary shares used in the calculation of basic and diluted net loss attributable to Studio City International Holdings Limited per Class A ordinary share consisted of the following: </div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> </div> <div style="null;text-indent: 0px;"> <table cellpadding="0" cellspacing="0" style="text-align:start; border-collapse: collapse; font-family: "Times New Roman"; font-size: 10pt; width: 91%; border: 0px; margin-left: auto; border-spacing: 0px;"> <tr> <td style="width:61%"></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="10" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;">Year Ended December 31,</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;">2024</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;">2023</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;">2022</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> </tr> <tr style="break-inside: avoid; font-family: "Times New Roman"; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Weighted average number of Class A ordinary shares outstanding used in the calculation of basic net loss attributable to Studio City International<div style="text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;">Holdings</div></div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"> <div style="letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div>Limited per Class A ordinary share</div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">770,352,700</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">770,352,700</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">710,582,947</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> </tr> <tr style="break-inside: avoid; font-family: "Times New Roman"; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Incremental weighted average number of Class A ordinary shares from assumed exchange of Class B ordinary shares to Class A ordinary shares under the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">if-converted</div> method</div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">— </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">— </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">72,511,760</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(255, 255, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(255, 255, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(255, 255, 255);"> </td> </tr> <tr> <td style="width:61%"></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align:top"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Weighted average number of Class A ordinary shares outstanding used in the calculation of diluted net loss attributable to Studio City International Holdings Limited per Class A ordinary share</div> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">770,352,700</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">770,352,700</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">783,094,707</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align:top"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Anti-dilutive Class A ordinary shares under the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">if-converted</div> method excluded from the calculation of diluted net loss attributable to Studio City International Holdings Limited per Class A ordinary share</div> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">72,511,760</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">72,511,760</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> </tr> </table> </div> <div style="null;text-indent: 0px;"> </div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left">(y)</td> <td style="vertical-align:top;text-align:left"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Reclassification</div></div> </div> </td> </tr> </table> <div style="display:inline;"></div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Certain reclassifications have been made to the prior years’ consolidated financial statements to conform to the current year’s presentation. These reclassifications had no impact on net loss, shareholders’ equity, or cash flows as previously reported. </div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left">(z)</td> <td style="vertical-align:top;text-align:left"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Recent Changes in Accounting Standards</div></div> </div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Newly Adopted Accounting Pronouncement</div></div></div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Improvements to Reportable Segment Disclosures” which enhances reportable segment disclosure requirements primarily through expanded disclosures about significant segment expenses on an interim and annual basis. ASU 2023-07 should be applied retrospectively to all prior periods presented in the financial statements. The Company adopted ASU 2023-07 for the year ended December 31, 2024. Refer to Note 20 for segment information.</div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Recent Accounting Pronouncements Not Yet Adopted</div></div></div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">In December 2023, the FASB issued ASU 2023-09, “Improvements to Income Tax Disclosures” which includes amendments that further enhance income tax disclosures, primarily through providing</div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">additional information in the rate reconciliation and additional disclosures about income taxes paid by jurisdiction. The Company plans to adopt ASU 2023-09 for its annual period ending December 31, 2025 and is currently assessing the impact of adoption. </div></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 9%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">In November 2024, the FASB issued ASU 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures” which primarily requires disaggregated disclosure of certain expense categories in the notes to the financial statements on an annual and interim basis. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted and the Company is currently assessing the impact of adoption. </div></div></div>

<div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The accompanying consolidated financial statements include the accounts of SCIH and its subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. </div>

<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(b)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Use of Estimates</div></div> </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The preparation of the accompanying consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts of assets </div> <div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"></div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center"> </div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;text-indent: 0px;"></div><div style="letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"> and liabilities, revenues and expenses and related disclosures of contingent assets and liabilities. Estimates are used for, but not limited to, inputs into Company’s estimate allowances for deferred tax assets and credit losses, useful lives and recoverability of long-lived assets and intangible assets, litigation and contingency estimates. These estimates and judgments are based on historical information, information that is currently available to the Company and on various other assumptions that the Company believes to be reasonable under the circumstances. Accordingly, actual results could differ from those estimates. </div>

25874000

35432000

3266000

3565000

<div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Property and equipment are depreciated and amortized over the following estimated useful lives on a straight-line basis: </div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:82%;border:0;margin:0 auto;text-indent: 0px;"> <tr> <td style="width:37%"></td> <td style="vertical-align:bottom;width:1%"></td> <td style="width:62%"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Buildings</div></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;">4 </div></div>to <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;">40 </div></div>years</div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Furniture, fixtures and equipment</div></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;">2 </div></div>to <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;">15 </div></div>years</div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Leasehold improvements</div></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;">5</div> </div>to 10 years or over the lease term, whichever is shorter</div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align:bottom">Motor vehicles</td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"><div style="letter-spacing: 0px; top: 0px;display:inline;">5 </div>years</td></tr></table>

P4Y

P40Y

P2Y

P15Y

5 to 10 years or over the lease term, whichever is shorter

P5Y

133594000

144806000

141977000

15239000

49619000

P3Y

<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(m)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Impairment of Long-lived Assets </div></div> </div></td></tr></table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company evaluates the long-lived assets with finite lives to be held and used for impairment whenever indicators of impairment exist. The Company then compares the estimated future cash flows of the assets, on an undiscounted basis, to the carrying values of the assets. Estimating future cash flows of the assets involves significant assumptions, including future revenue growth rates, future market conditions and gross margin. If the undiscounted cash flows exceed the carrying values, no impairments are indicated. If the undiscounted cash flows do not exceed the carrying values, then an impairment charge is recorded based on the fair values of the assets, typically measured using a discounted cash flow model involving significant assumptions, such as discount rates. If an asset is still under development, future cash flows include remaining construction costs.</div> <div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"> </div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center"> </div> <div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt;text-indent: 0px;"></div> <div style="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">No impairment of long-lived assets was recognized during the years ended December 31, 2024, 2023 and 2022. </div>

P1Y

5644000

1212000

4432000

2639000

1793000

<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(r)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Pre-opening</div> Costs </div></div> </div></td></tr></table><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Pre-opening</div> costs represent personnel, marketing and other costs incurred prior to the opening of new or <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">start-up</div> operations and are expensed as incurred. During the years ended December 31, 2024, 2023 and 2022, the Company incurred <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">pre-opening</div> costs in connection with the development of Studio City Phase 2 and other <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">one-off</div> activities related to the marketing of new facilities and operations of Studio City. </div>

<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(s)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Advertising and Promotional Costs</div></div> </div></td></tr></table><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company expenses advertising and promotional costs the first time the advertising takes place or as incurred. Advertising and promotional costs included in the accompanying consolidated statements of operations were $33,165, $22,668 and $3,692 for the years ended December 31, 2024, 2023 and 2022, respectively. </div>

33165000

22668000

3692000

<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(t)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Interest Income</div></div> </div></td></tr></table><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Interest income is recorded on an accrual basis at the stated interest rate and is recorded in interest income in the accompanying consolidated statements of operations. </div>

<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(u)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Foreign Currency Transactions and Translations </div></div> </div></td></tr></table><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">All transactions in currencies other than functional currencies of SCIH and its subsidiaries during the year are remeasured at the exchange rates prevailing on the respective transaction dates. Monetary assets and liabilities existing at the balance sheet date denominated in currencies other than functional currencies are remeasured at the exchange rates existing on that date. Exchange differences are recorded in the accompanying consolidated statements of operations. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The functional currency of SCIH is the U.S. dollar (“$” or “US$”) and the functional currency of most of SCIH’s foreign subsidiaries is the local currency in which the subsidiary operates. All assets and liabilities are translated at the rates of exchange prevailing at the balance sheet date and all income and expense items are translated at the average rates of exchange over the year. All exchange differences arising from the translation of foreign subsidiaries’ financial statements are recorded as a component of other comprehensive income (loss). </div>

<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(w)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Income Tax</div></div> </div></td></tr></table><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">The Company is subject to income taxes in Macau and Hong Kong where it operates. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Deferred income taxes are recognized for all significant temporary differences between the tax basis of assets and liabilities and their reported amounts in the accompanying consolidated financial statements. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. </div><div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"> </div><div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center"> </div> <div style="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">The Company’s income tax returns are subject to examination by tax authorities in the jurisdictions where it operates. The Company assesses potentially unfavorable outcomes of such examinations based on accounting standards for uncertain income taxes. These accounting standards utilize a <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">two-step</div> approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position, based on the technical merits of the position, will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount which is more than <div style="letter-spacing: 0px; top: 0px;display:inline;">50</div>% likely, based on cumulative probability. </div>

0.50

<table cellpadding="0" cellspacing="0" style="text-align:start; border-collapse: collapse; font-family: "Times New Roman"; font-size: 10pt; border: 0px; width: 100%; text-indent: 0px; border-spacing: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left;">(x)</td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Net Loss Attributable to Studio City International Holdings Limited Per Class</div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"> A Ordinary Share</div></div> </div> </td> </tr> </table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Basic net loss attributable to Studio City International Holdings Limited per Class A ordinary share is calculated by dividing the net loss attributable to Studio City International Holdings Limited by the weighted average number of Class A ordinary shares outstanding during the year. </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Diluted net loss attributable to Studio City International Holdings Limited per Class A ordinary share is calculated by dividing the net loss attributable to Studio City International Holdings Limited adjusted for participation interest by the weighted average number of Class A ordinary shares outstanding during the year adjusted to include the number of additional Class A ordinary shares that would have been outstanding if potential dilutive securities had been issued and the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">if-converted</div> method is applied for the potential dilutive effect of the exchange of Class B ordinary shares for the proportionate number of Class A ordinary shares. During the years ended December 31, 2024 and 2023, there were anti-dilutive Class A ordinary shares that would have been outstanding if potential dilutive securities had been issued and the if-converted method is applied for the potential dilutive effect of the exchange of Class B ordinary shares for the proportionate number of Class A ordinary shares. </div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 9%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Basic and diluted net loss attributable to Studio City International Holdings Limited per Class A ordinary share does not include Class B ordinary shares as such shares do not participate in the net loss of SCIH. As a result, Class B ordinary shares are not considered participating securities and are not included in the weighted average number of shares outstanding for purposes of computing net loss attributable to Studio City International Holdings Limited per share.</div></div></div> <div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: 'Times New Roman'; text-align: center;text-indent: 0px;"></div> <div style="letter-spacing: 0px; top: 0px; text-indent: 0px; background: none;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div> <div style="clear:both;max-height:0pt;"></div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"></div> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"></div> <div style="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">The weighted average number of Class A ordinary shares used in the calculation of basic and diluted net loss attributable to Studio City International Holdings Limited per Class A ordinary share consisted of the following: </div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; border-collapse: collapse; font-family: "Times New Roman"; font-size: 10pt; width: 91%; border: 0px; margin-left: auto; border-spacing: 0px;"> <tr> <td style="width:61%"></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="10" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;">Year Ended December 31,</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;">2024</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;">2023</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;">2022</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> </tr> <tr style="break-inside: avoid; font-family: "Times New Roman"; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Weighted average number of Class A ordinary shares outstanding used in the calculation of basic net loss attributable to Studio City International<div style="text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;">Holdings</div></div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"> <div style="letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div>Limited per Class A ordinary share</div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">770,352,700</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">770,352,700</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">710,582,947</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> </tr> <tr style="break-inside: avoid; font-family: "Times New Roman"; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Incremental weighted average number of Class A ordinary shares from assumed exchange of Class B ordinary shares to Class A ordinary shares under the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">if-converted</div> method</div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">— </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">— </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">72,511,760</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(255, 255, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(255, 255, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(255, 255, 255);"> </td> </tr> <tr> <td style="width:61%"></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align:top"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Weighted average number of Class A ordinary shares outstanding used in the calculation of diluted net loss attributable to Studio City International Holdings Limited per Class A ordinary share</div> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">770,352,700</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">770,352,700</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">783,094,707</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align:top"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Anti-dilutive Class A ordinary shares under the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">if-converted</div> method excluded from the calculation of diluted net loss attributable to Studio City International Holdings Limited per Class A ordinary share</div> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">72,511,760</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">72,511,760</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> </tr> </table>

<div style="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">The weighted average number of Class A ordinary shares used in the calculation of basic and diluted net loss attributable to Studio City International Holdings Limited per Class A ordinary share consisted of the following: </div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; border-collapse: collapse; font-family: "Times New Roman"; font-size: 10pt; width: 91%; border: 0px; margin-left: auto; border-spacing: 0px;"> <tr> <td style="width:61%"></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="10" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;">Year Ended December 31,</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;">2024</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;">2023</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;">2022</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> </tr> <tr style="break-inside: avoid; font-family: "Times New Roman"; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Weighted average number of Class A ordinary shares outstanding used in the calculation of basic net loss attributable to Studio City International<div style="text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;">Holdings</div></div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"> <div style="letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div>Limited per Class A ordinary share</div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">770,352,700</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">770,352,700</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">710,582,947</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> </tr> <tr style="break-inside: avoid; font-family: "Times New Roman"; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Incremental weighted average number of Class A ordinary shares from assumed exchange of Class B ordinary shares to Class A ordinary shares under the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">if-converted</div> method</div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">— </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">— </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">72,511,760</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(255, 255, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(255, 255, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(255, 255, 255);"> </td> </tr> <tr> <td style="width:61%"></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:1%"></td> <td></td> <td></td> <td></td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align:top"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Weighted average number of Class A ordinary shares outstanding used in the calculation of diluted net loss attributable to Studio City International Holdings Limited per Class A ordinary share</div> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">770,352,700</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">770,352,700</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">783,094,707</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align:top"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Anti-dilutive Class A ordinary shares under the <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">if-converted</div> method excluded from the calculation of diluted net loss attributable to Studio City International Holdings Limited per Class A ordinary share</div> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">72,511,760</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">72,511,760</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> </tr> </table>

770352700

710582947

72511760

770352700

783094707

72511760

<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left">(y)</td> <td style="vertical-align:top;text-align:left"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Reclassification</div></div> </div> </td> </tr> </table> <div style="display:inline;"></div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">Certain reclassifications have been made to the prior years’ consolidated financial statements to conform to the current year’s presentation. These reclassifications had no impact on net loss, shareholders’ equity, or cash flows as previously reported. </div>

<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:5%;vertical-align:top;text-align:left">(z)</td> <td style="vertical-align:top;text-align:left"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Recent Changes in Accounting Standards</div></div> </div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Newly Adopted Accounting Pronouncement</div></div></div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Improvements to Reportable Segment Disclosures” which enhances reportable segment disclosure requirements primarily through expanded disclosures about significant segment expenses on an interim and annual basis. ASU 2023-07 should be applied retrospectively to all prior periods presented in the financial statements. The Company adopted ASU 2023-07 for the year ended December 31, 2024. Refer to Note 20 for segment information.</div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Recent Accounting Pronouncements Not Yet Adopted</div></div></div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">In December 2023, the FASB issued ASU 2023-09, “Improvements to Income Tax Disclosures” which includes amendments that further enhance income tax disclosures, primarily through providing</div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">additional information in the rate reconciliation and additional disclosures about income taxes paid by jurisdiction. The Company plans to adopt ASU 2023-09 for its annual period ending December 31, 2025 and is currently assessing the impact of adoption. </div></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 9%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">In November 2024, the FASB issued ASU 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures” which primarily requires disaggregated disclosure of certain expense categories in the notes to the financial statements on an annual and interim basis. ASU 2024-03 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted and the Company is currently assessing the impact of adoption. </div></div></div>

93682000

44309000

33952000

183731000

127634000

228040000

130000

127764000

228170000

<div style="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Components of accounts receivable, net are as follows: </div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;"> <br/></div> <table cellpadding="0" cellspacing="0" style="text-align:start; border-collapse: collapse; font-family: "Times New Roman"; font-size: 10pt; width: 96%; border: 0px; margin-left: auto; border-spacing: 0px;"> <tr> <td style="width: 63%;"></td> <td style="vertical-align: bottom; width: 7%;"></td> <td></td> <td style="vertical-align: bottom; width: 7%;"></td> <td></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 7%;"></td> <td></td> <td></td> <td></td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="6" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;">December 31,</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; white-space: nowrap; padding-bottom: 0.5pt;text-align:center;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;"> 2024 </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;"> 2023 </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 63%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Hotel</div> </td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="vertical-align:top"></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,752</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"> 1,833</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 63%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Other</div> </td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="vertical-align:top"></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">235</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">458</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 63%;"></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 63%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Sub-total</div></div> </td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="vertical-align:top"></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,987</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">2,291</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 63%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Less: allowances for credit losses</div> </td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="vertical-align:top"></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(11</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(10</td> <td style="white-space:nowrap;vertical-align:bottom">) </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 63%;"></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 63%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Accounts receivable, net</div> </td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="vertical-align:top"></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,976</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">2,281</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 63%;"></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> </tr> </table>

1752000

1833000

235000

458000

1987000

2291000

11000

10000

1976000

2281000

<div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Movement in the allowances for credit losses are as follows: </div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;"> <div style="letter-spacing: 0px; top: 0px;display:inline;"></div><br/></div> <div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentColor; border-image: none; width: 96%; font-size: 10pt; margin-left: auto; border-collapse: collapse;text-indent: 0px;"> <tr style="color: white; line-height: 0pt; visibility: hidden;"> <td style="width: 55%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr> <tr style="font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="10" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">Year Ended December 31,</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> 2024 </div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> 2023 </div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> 2022 </div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr> <td style="width: 55%;"></td> <td style="vertical-align: bottom; width: 3%;"></td> <td></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> <td></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> <td></td> <td></td> <td></td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 55%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Balance at beginning of year</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"> 10</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"> — </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"> — </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 55%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Provision for credit losses</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">10</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 55%;"></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 55%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Balance at end of year</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">11</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">10</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 55%;"></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> </div>

10000

1000

10000

11000

10000

<table cellpadding="0" cellspacing="0" style="text-align:start; border-collapse: collapse; font-family: "Times New Roman"; font-size: 10pt; width: 96%; border: 0px; margin-left: auto; border-spacing: 0px;"> <tr> <td style="width: 64%;"></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 6%;"></td> <td></td> <td></td> <td></td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="6" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;">December 31,</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; white-space: nowrap; text-align: center; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap; text-align: center; border-bottom: 1pt solid rgb(0, 0, 0);"> 2024 </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap; text-align: center; border-bottom: 1pt solid rgb(0, 0, 0);"> 2023 </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 64%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Buildings</div> </td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="vertical-align:top"></td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">3,414,388</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">3,384,762</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 64%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Furniture, fixtures and equipment</div> </td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="vertical-align:top"></td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">318,502</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">301,910</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 64%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Leasehold improvements</div> </td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="vertical-align:top"></td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">160,161</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">134,091</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 64%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Motor vehicles</div> </td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="vertical-align:top"></td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">2,732</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">2,717</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 64%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Construction in progress</div> </td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="vertical-align:top"></td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">558</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">881</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 64%;"></td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 64%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Sub-total</div></div> </td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="vertical-align:top"></td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">3,896,341</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"> 3,824,361</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 64%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Less: accumulated depreciation and amortization</div> </td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="vertical-align:top"></td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(1,244,172</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(1,048,555</td> <td style="white-space:nowrap;vertical-align:bottom">) </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 64%;"></td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 64%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Property and equipment, net</div> </td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="vertical-align:top"></td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">2,652,169</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">2,775,806</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 64%;"></td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align: bottom; width: 6%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> </tr> </table>

3414388000

3384762000

318502000

301910000

160161000

134091000

2732000

2717000

558000

881000

3896341000

3824361000

1244172000

1048555000

2652169000

2775806000

194617000

158746000

113028000

1260000 65000

28784.3

MOP0.75 (equivalent to $0.09) MOP2.5 (equivalent to $0.3)

<table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentcolor; width: 100%; font-family: "Times New Roman"; font-size: 10pt; border-collapse: collapse; text-indent: 0px; border-spacing: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 4%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">6.</div></div></div></td> <td style="text-align: left; vertical-align: top;"> <div style="text-align: left; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">INTANGIBLE ASSETS, NET </div></div></div></div> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="null;text-indent: 0px;"></div> <div style="null;text-indent: 0px;"> <table cellpadding="0" cellspacing="0" style="text-align:start; border-collapse: collapse; font-family: "Times New Roman"; font-size: 10pt; width: 96%; border: 0px; margin-left: auto; border-spacing: 0px;"> <tr> <td style="width: 74%;"></td> <td style="vertical-align: bottom; width: 4%;"></td> <td></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 4%;"></td> <td></td> <td></td> <td></td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="6" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;">December 31,</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap; text-align: center; border-bottom: 1pt solid rgb(0, 0, 0);"> 2024 </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap; text-align: center; border-bottom: 1pt solid rgb(0, 0, 0);"> 2023 </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Finite-lived intangible assets:</div> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 74%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Internal-use</div> software</div> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">4,225</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">4,199</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Less: accumulated amortization</div> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(4,225</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(4,194</td> <td style="white-space:nowrap;vertical-align:bottom">) </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 74%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 74%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Intangible assets, net</div> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"> 5</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 74%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> </tr> </table> </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">The amortization expenses of <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">internal-use</div> software recognized for the years ended December 31, 2024, 2023 and 2022 were $5, $1,364 and $<div style="letter-spacing: 0px; top: 0px;display:inline;">1,396</div>, respectively. </div>

4225000

4199000

4225000

4194000

5000

5000 1364000 1396000 <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">7.</div></div></td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="font-weight:bold;display:inline;">LONG-TERM PREPAYMENTS, DEPOSITS AND OTHER ASSETS </div></div></td></tr></table> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Long-term prepayments, deposits and other assets consisted of the following: </div></div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div></div><div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:96%;border:0;margin-left:auto"> <tr> <td style="width: 74%;"></td> <td style="vertical-align: bottom; width: 4%;"></td> <td></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 4%;"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="6" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap;text-align:center;">December 31,</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap;text-align:center;"> 2024 </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap;text-align:center;"> 2023 </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Other long-term assets</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">53,106</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">22,327</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Less: accumulated amortization</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(16,960</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(10,289</td> <td style="white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 74%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Other long-term assets, net</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">36,146</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">12,038</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 74%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Deferred financing costs, net</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">8,792</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">278</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Other deposits and other</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">4,484</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">5,323</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 74%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Deposits for acquisition of property and equipment</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">2,852</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">931</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Long-term prepayments</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">230</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">9,217</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 74%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Long-term prepayments, deposits and other assets</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">52,504</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"> 27,787</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 74%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr></table></div><div style="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The amortization expenses of other long-term assets <div style="letter-spacing: 0px; top: 0px;display:inline;">recognized </div>for the years ended December 31, 2024, 2023 and 2022 were $7,124, $<div style="letter-spacing: 0px; top: 0px;display:inline;">5,985 </div>and $<div style="letter-spacing: 0px; top: 0px;display:inline;">9,232</div>, respectively. </div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Long-term prepayments, deposits and other assets consisted of the following: </div></div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div></div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:96%;border:0;margin-left:auto"> <tr> <td style="width: 74%;"></td> <td style="vertical-align: bottom; width: 4%;"></td> <td></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 4%;"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="6" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap;text-align:center;">December 31,</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap;text-align:center;"> 2024 </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap;text-align:center;"> 2023 </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Other long-term assets</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">53,106</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">22,327</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Less: accumulated amortization</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(16,960</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(10,289</td> <td style="white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 74%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Other long-term assets, net</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">36,146</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">12,038</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 74%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Deferred financing costs, net</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">8,792</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">278</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Other deposits and other</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">4,484</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">5,323</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 74%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Deposits for acquisition of property and equipment</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">2,852</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">931</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Long-term prepayments</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">230</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">9,217</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 74%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Long-term prepayments, deposits and other assets</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">52,504</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"> 27,787</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 74%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr></table> 53106000 22327000 16960000 10289000

36146000

12038000

8792000

278000

4484000

5323000

2852000

931000

230000

9217000

52504000 27787000

7124000

5985000

9232000

<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:96%;border:0;margin-left:auto"> <tr> <td style="width: 75%;"></td> <td style="vertical-align: bottom; width: 4%;"></td> <td></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 4%;"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="6" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap;text-align:center;">December 31,</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap;text-align:center"> 2024 </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap;text-align:center"> 2023 </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 75%; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Interest expense payable<div style="letter-spacing: 0px; top: 0px;display:inline;">s</div></div></td> <td style="vertical-align: bottom; width: 4%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);">$</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">55,856</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; width: 4%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);">$</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">60,522</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td></tr> <tr> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Property and equipment payables</div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);">25,940</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);">45,499</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td></tr> <tr> <td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Operating expense and other accruals and liabilities</div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);">19,250</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);">16,459</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td></tr> <tr> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Staff cost accruals</div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);">9,874</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);">7,511</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 75%; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Advance customer deposits and ticket sales</div></td> <td style="vertical-align: bottom; width: 4%; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">5,644</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; width: 4%; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">4,432</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td></tr> <tr style="break-inside: avoid; font-family: "Times New Roman"; font-size: 10pt;"> <td style="vertical-align: top; width: 75%; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="-sec-ix-hidden:hidden134737492;display:inline;">Operating</div> <div style="-sec-ix-hidden:hidden134737493;display:inline;">lease</div> liabilities</div></td> <td style="vertical-align: bottom; width: 4%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">1,553</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; width: 4%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">1,091</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 75%; background-color: rgba(255, 255, 255, 0);"></td> <td style="vertical-align: bottom; width: 4%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; width: 4%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgba(255, 255, 255, 0);"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 75%; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Accrued expenses and other current liabilities</div></td> <td style="vertical-align: bottom; width: 4%; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);">$</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">118,117</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; width: 4%; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);">$</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"> 135,514</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 75%; background-color: rgba(255, 255, 255, 0);"></td> <td style="vertical-align: bottom; width: 4%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; width: 4%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgba(255, 255, 255, 0);"> </td></tr></table>

55856000

60522000

25940000 45499000

19250000

16459000

9874000 7511000

5644000

4432000

1553000

1091000

118117000 135514000

<table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">10.</div></div></td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="font-weight:bold;display:inline;">LONG-TERM DEBT, NET </div></div></td></tr></table> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Long-term debt, net consisted of the following: </div></div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="null;text-indent: 0px;"><div style="clear:both;max-height:0pt;"></div></div><div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:96%;border:0;margin-left:auto"> <tr> <td style="width: 74%;"></td> <td style="vertical-align:bottom;width:4%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:4%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="6" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap;text-align:center;">December 31,</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap;text-align:center"> 2024 </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap;text-align:center"> 2023 </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">SCF 6.000% Senior Notes, due 2025 (net of unamortized deferred financing costs of $253 and $1,320, respectively)</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">221,369</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">395,680</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">SCC 7.000% Senior Notes, due 2027 (net of unamortized deferred financing costs of $2,862 and $4,039, respectively)</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">347,138</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">345,961</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">SCF 6.500% Senior Notes, due 2028 (net of unamortized deferred financing costs of $2,299 and $2,970, respectively)</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">497,701</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">497,030</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">SCF 5.000% Senior Notes, due 2029 (net of unamortized deferred financing costs and original issue premiums of $2,990 and $3,626, respectively)</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,097,010</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,096,374</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">SCC 2016 Credit Facilities, due 2029</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">SCC 2016 Term Loan</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">129</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">128</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">SCC 2016 Revolving Facility<div style="font-size:75%; vertical-align:top;display:inline;font-size:8.3px">(1) </div></div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">SCC 2024 Revolving Facility, due 2029<div style="font-size: 75%; vertical-align: top;display:inline;font-size:8.3px">(2) </div></div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 74%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">2,163,347</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">2,335,173</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Less: Current portion of long-term debt, net</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(21,597</td> <td style="white-space: nowrap; vertical-align: bottom; padding: 0px;">)<div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 74%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Long-term debt, net</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">2,141,750</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">2,335,173</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 74%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr></table></div><div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(1)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: "Times New Roman"; text-align: left; line-height: normal;text-indent: 0px;">As of December 31, 2024 and 2023, the unamortized deferred financing costs related to the SCC 2016 Revolving Facility of $308 and $278<div style="letter-spacing: 0px; top: 0px;display:inline;">, respectively, are included in long-term prepayments, deposits and other assets in the accompanying consolidated balance sheets. </div> </div></td></tr></table> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(2)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: "Times New Roman"; text-align: left; line-height: normal;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">As of December 31, 2024, the unamortized deferred financing costs related to the SCC 2024 Revolving Facility of</div> $8,484 is included in long-term prepayments, deposits and other assets in the accompanying consolidated balance sheets. </div></td></tr></table> <div style="margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: "Times New Roman";"><div style="font-weight:bold;display:inline;">SCF Senior Notes </div></div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">On July 15, 2020, Studio City Finance Limited (“SCF”), a subsidiary of SCIH, issued two series of senior unsecured notes in an aggregate principal amount of $<div style="letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">1,000,000</div>, consisting of $<div style="letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">500,000 </div>of <div style="letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">6.000</div>% Senior Notes due July 15, 2025 <div style="text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;">at an issue price of 100% of the principal amount (the “2025 SCF Senior Notes”) and</div> $<div style="letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">500,000 </div>of 6.500% Senior Notes due January 15, 2028 <div style="text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">at an issue price of 100% of the principal </div></div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div></div><div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div></div><div style="letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">amount (the “2028 SCF Senior Notes”) pursuant to an indenture, dated July 15, 2020 (the “2025 SCF Indenture”) among SCF, the guarantors and the trustee. The net proceeds from the offering of the 2025 SCF Senior Notes and the 2028 SCF Senior Notes were partially used to redeem in full the previous senior secured notes of Studio City Company Limited (“SCC”), a subsidiary of SCIH, with the remaining amount used for capital expenditures of the remaining development project at Studio City. </div></div></div><div style="letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"></div></div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">On November 9, 2023, SCF initiated a cash tender offer (the “2023 Tender Offer”) which expired on December 8, 2023, subject to the terms and conditions, to purchase for up to an aggregate principal amount of $75,000 of the 2025 SCF Senior Notes and was subsequently amended to increase to $100,000 <div style="text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;">(the maximum tender amount). SCF purchased an aggregate principal amount of</div> $100,000 <div style="text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;">of the 2025 SCF Senior Notes that were validly tendered (and not validly withdrawn) pursuant to the 2023 Tender Offer, as amended, and settled the transaction on November 28, 2023. On April 8, 2024, SCF initiated a cash tender offer (the “2024 Tender Offer”) which expired on May 6, 2024, subject to the terms and conditions, to purchase for up to an aggregate principal amount of</div> $100,000<div style="letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"> of the outstanding 2025 SCF Senior Notes and was subsequently amended to increase to $100,029 (the maximum tender amount). SCF purchased an aggregate principal amount of $100,029 of the 2025 SCF Senior Notes that were validly tendered (and not validly withdrawn) pursuant to the 2024 Tender Offer, as amended, and settled the transaction on April 24, 2024. Other than the 2023 Tender Offer and the 2024 Tender Offer, SCF repurchased an aggregate principal amount of $75,349 and $3,000 of the 2025 SCF Senior Notes during the years ended December 31, 2024 and 2023, respectively. The 2024 Tender Offer and repurchases of the 2025 SCF Senior Notes during the year ended December 31, 2024 included certain amounts purchased from a related party as disclosed in Note 19. In connection with the 2023 Tender Offer<div style="display:inline;"></div></div><div style="text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;">,</div><div style="letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="display:inline;"></div> the 2024 Tender Offer and the repurchases of the 2025 SCF Senior Notes during the years ended December 31, 2024 and 2023, the Company recorded a loss on extinguishment of debt of $1,000 and a gain on extinguishment of debt of $1,611 during the years ended December 31, 2024 and 2023, respectively. As of December 31, 2024, the outstanding principal amount of the 2025 SCF Senior Notes was $221,622. The net carrying amount of $199,772 of the 2025 SCF Senior Notes is classified as non-current portion of long-term debt as of December 31, 2024 given the settlement of these obligations is not expected to require the use of working capital within one year and the Company has both the intent and ability, as evidenced by the SCC 2024 Revolving Facility</div> (as defined below), <div style="letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"> to refinance these obligations on a long-term basis. </div> </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">On January 14, 2021, SCF issued senior unsecured notes in an aggregate principal amount of $750,000 of 5.000% Senior Notes due January 15, 2029 <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">at an issue price of 100% of the principal amount (the “Initial 2029 SCF Senior Notes”) pursuant to an indenture, dated January 14, 2021 (the “2029 SCF Indenture”); and on May 20, 2021 further issued senior unsecured notes in an aggregate principal amount of $350,000 of 5.000% Senior Notes due January 15, 2029 at an issue price of 101.50% of the principal amount (the “Additional 2029 SCF Senior Notes”) which were consolidated to form a single series with the Initial 2029 SCF Senior Notes (and together, the “2029 SCF Senior Notes”). The net proceeds from the offering of the Initial 2029 SCF Senior Notes were primarily used to fund the conditional tender offer and the remaining outstanding balance with accrued interest of previous senior notes of SCF in February 2021. The net proceeds from the offering of the Additional 2029 SCF Senior Notes were used to partially fund the capital expenditures of the remaining development project at Studio City and for general corporate purposes. </div></div></div><div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The 2025 SCF Senior Notes, the 2028 SCF Senior Notes and the 2029 SCF Senior Notes, are collectively referred to as the “SCF Senior Notes”. The 2025 SCF Indenture and, together with the 2029 SCF Indenture, are collectively referred to as the “SCF Indentures”. </div></div></div><div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"> </div><div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center"> </div><div style="font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">There are no interim principal payments on the SCF Senior Notes and interest is payable semi-annually in arrears on each January 15 and July 15 with respect to each series of the SCF Senior Notes. </div></div></div><div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The SCF Senior Notes are general obligations of SCF. Each series of the SCF Senior Notes rank equally in right of payment to all existing and future senior indebtedness of SCF, rank senior in right of payment to any existing and future subordinated indebtedness of SCF and are effectively subordinated to all of SCF’s existing and future secured indebtedness (to the extent of the value of the property and assets securing such indebtedness). </div></div></div><div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">All of the existing subsidiaries of SCF and any other future restricted subsidiaries that provide guarantees of certain specified indebtedness (the “SCF Senior Notes Guarantors”) jointly, severally and unconditionally guarantee the SCF Senior Notes on a senior basis (the “SCF Senior Notes Guarantees”). The SCF Senior Notes Guarantees are general obligations of the SCF Senior Notes Guarantors, rank equally in right of payment to all existing and future senior indebtedness of the SCF Senior Notes Guarantors and rank senior in right of payment to any existing and future subordinated indebtedness of the SCF Senior Notes Guarantors. The SCF Senior Notes Guarantees are effectively subordinated to the SCF Senior Notes Guarantors’ obligations under all existing and any future secured indebtedness (to the extent of the value of such property and assets securing such indebtedness). </div></div></div><div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Each of the SCF Indentures contains certain covenants, subject to certain exceptions and conditions, that limit the ability of SCF and its restricted subsidiaries to, among other things: (i) incur or guarantee additional indebtedness; (ii) make specified restricted payments; (iii) issue or sell capital stock; (iv) sell assets; (v) create liens; (vi) enter into agreements that restrict the restricted subsidiaries’ ability to pay dividends, transfer assets or make intercompany loans; (vii) enter into transactions with affiliates; and (viii) effect a consolidation or merger. Each of the SCF Indentures also contains conditions and provides for customary events of default as well as early redemption options available to SCF during certain time periods and redemption options available to the SCF Senior Notes holders in certain events. </div></div></div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">There are provisions under each of the SCF Indentures that limit or prohibit certain payments of dividends and other distributions by SCF and its restricted subsidiaries to companies or persons who are not SCF or its restricted subsidiaries, subject to certain exceptions and conditions. As of December 31, 2024, the net assets of SCF and its restricted subsidiaries with amount of approximately $657,000 were restricted from being distributed under the terms of the SCF Senior Notes. </div><div style="font-family: "Times New Roman"; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">SCC Senior Notes </div></div></div></div><div style="null;text-indent: 0px;font-weight:bold;display:inline;"> </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">On February 16, 2022, SCC issued senior secured notes in an aggregate principal amount of $350,000 of 7.000% Senior Notes due February 15, 2027 <div style="letter-spacing: 0px; top: 0px;display:inline;">at an issue price of 100% of the principal amount (the “2027 SCC Senior Notes”) pursuant to an indenture, dated February 16, 2022 (the “2027 SCC Indenture”) among SCC, the guarantors and the trustee. The net proceeds from the offering of the 2027 SCC Senior Notes were used to fund the capital expenditures of the remaining development project at Studio City and for general corporate purposes. </div> </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">There are no interim principal payments on the 2027 SCC Senior Notes and interest is payable semi-annually in arrears on each February 15 and August 15. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">The 2027 SCC Senior Notes are senior secured obligations of SCC, rank equally in right of payment to all existing and future senior indebtedness of SCC (although any liabilities in respect of obligations under the</div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div></div><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div><div style="font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">SCC Credit Facilities (as defined below) that are secured by common collateral securing the 2027 SCC Senior Notes will have priority over the 2027 SCC Senior Notes with respect to any proceeds received upon any enforcement action of such common collateral) and rank senior in right of payment to any existing and future subordinated indebtedness of SCC and are effectively subordinated to SCC’s existing and future secured indebtedness that is secured by assets that do not secure the 2027 SCC Senior Notes, to the extent of the assets securing such indebtedness. </div></div></div><div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Studio City Investments Limited (“SCI”), the shareholder of SCC, all of its existing subsidiaries (other than SCC) and any other future restricted subsidiaries that provide guarantees of certain specified indebtedness (including the SCC Credit Facilities) (the “SCC Senior Notes Guarantors”) jointly, severally and unconditionally guarantee the 2027 SCC Senior Notes on a senior basis (the “SCC Senior Notes Guarantees”). The SCC Senior Notes Guarantees are senior obligations of the SCC Senior Notes Guarantors, rank equally in right of payment to all existing and future senior indebtedness of the SCC Senior Notes Guarantors and rank senior in right of payment to any existing and future subordinated indebtedness of the SCC Senior Notes Guarantors. The SCC Senior Notes Guarantees are pari passu to the SCC Senior Notes Guarantors’ obligations under the SCC Credit Facilities, and effectively subordinated to any future secured indebtedness that is secured by assets that do not secure the 2027 SCC Senior Notes and the SCC Senior Notes Guarantees, to the extent of the value of the assets. </div></div></div><div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The 2027 SCC Senior Notes are secured, on an equal basis with the SCC Credit Facilities, by substantially all of the material assets of SCI and its subsidiaries (although obligations under the SCC Credit Facilities that are secured by the common collateral securing the 2027 SCC Senior Notes will have priority over the 2027 SCC Senior Notes with respect to any proceeds received upon any enforcement action of such common collateral); in addition, in line with the SCC Credit Facilities, the 2027 SCC Senior Notes are also secured by certain specified bank accounts. </div></div></div><div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The 2027 SCC Indenture contains certain covenants, subject to certain exceptions and conditions, that limit the ability of SCC, SCI and their respective restricted subsidiaries to, among other things: (i) incur or guarantee additional indebtedness and issue certain preferred stock; (ii) make specified restricted payments and investments; (iii) prepay or redeem subordinated debt or equity; (iv) issue or sell capital stock; (v) transfer, lease or sell assets; (vi) create or incur certain liens; (vii) impair the security interests in the collateral; (viii) enter into agreements that restrict the restricted subsidiaries’ ability to pay dividends, transfer assets or make intercompany loans; (ix) change the nature of the business of the relevant group; (x) enter into transactions with affiliates; and (xi) effect a consolidation or merger. The 2027 SCC Indenture also contains conditions and provides for customary events of default as well as early redemption options available to SCC during certain time periods and redemption options available to the 2027 SCC Senior Notes holders in certain events. </div></div><br/></div><div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">There are provisions under the 2027 SCC Indenture that limit or prohibit certain payments of dividends and other distributions by SCC, SCI and their respective restricted subsidiaries to companies or persons who are not SCC, SCI and their respective restricted subsidiaries, subject to certain exceptions and conditions. As of December 31, 2024, the net assets of SCI and its restricted subsidiaries with amount of approximately $</div>585,000<div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> were restricted from being distributed under the terms of the 2027 SCC Senior Notes.</div></div><div style="margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: "Times New Roman";"><div style="font-weight:bold;display:inline;">SCC Credit Facilities </div></div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><div style="text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;">On March 15, 2021, SCC (the “SC Borrower”) amended the terms of its prior senior secured credit facilities agreement entered into with a syndicate of banks, including the extension of the maturity date of the</div></div><div style="letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div></div> <div style="letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Hong Kong dollars (“HK$”) 234,000 (equivalent to $30,077) senior secured credit facilities (the “SCC 2016 Credit Facilities”), comprising a HK$1,000 (equivalent to $129) term loan facility (the “SCC 2016 Term Loan”) and a HK$233,000 (equivalent to $29,948) revolving credit facility (the “SCC 2016 Revolving Facility”) to January 15, 2028. Changes have also been made to the covenants in order to align them with those of certain other financings at SCF, including amending the threshold sizes and measurement dates of the covenants. On November 29, 2024, SCC further amended the terms of the SCC 2016 Credit Facilities (the “2024 SCC Amendment and Restatement”), including the extension of the maturity date to August 29, 2029 and change of interest rates. The SCC 2016 Term Loan shall be repaid on August 29, 2029 with no interim amortization payments. The SCC 2016 Revolving Facility is available up to the date that is one month prior to August 29, 2029.</div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Pursuant to the 2024 SCC Amendment and Restatement, borrowings under the SCC 2016 Credit Facilities denominated in US$ bear interest at term Secured Overnight Financing Rate (“SOFR”) plus an applicable credit adjustment spread ranging from 0.06% to 0.20% per annum and a margin of 2.25% per annum; borrowings under the SCC 2016 Credit Facilities denominated in HK$ bear interest at Hong Kong Interbank Offered Rate (“HIBOR”) plus a margin of 2.25% <div style="text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;">per annum. Prior to the effective of the 2024 SCC Amendment and Restatement, borrowings under the SCC 2016 Credit Facilities denominated in HK$ bore interest at HIBOR plus a margin of</div> 4% <div style="text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;">per annum. As of December 31, 2024 and 2023, the interest rate was approximately 6.83% and 9.27%, respectively. The SC Borrower may select an interest period for borrowings under the SCC 2016 Credit Facilities ranging from one to six months or any other agreed period. The SC Borrower is obligated to pay a commitment fee on the undrawn amount of the SCC 2016 Revolving Facility and recognized loan commitment fees of</div> $403, $417 and $417 during the years ended December 31, 2024, 2023 and 2022, respectively.</div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">As of December 31, 2024, the outstanding principal amount of the SCC 2016 Term Loan and the SCC 2016 Revolving Facility were HK$1,000 (equivalent to $129) and nil, respectively, and the available unused borrowing capacity under the SCC 2016 Revolving Facility was HK$233,000 (equivalent to $30,012). </div></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">On November 29, 2024, SCC entered into a senior secured revolving credit facility agreement with a syndicate of banks (the “SCC 2024 Revolving Facility”) for HK$1,945,000 (equivalent to $250,273) with a term of five years and maturity date of November 29, 2029, with an option to increase the commitments in an amount not exceeding $100,000, subject to satisfaction of conditions precedent. The SCC 2024 Revolving Facility is available up to the date that is one month prior to the maturity date. </div></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="font-size: 10pt; text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;"><div style="null;text-indent: 0px;display:inline;">Borrowings under the SCC 2024 Revolving Facility can be denominated in US$ which bear interest at term SOFR or HK$ which bear interest at HIBOR, in both case plus an applicable margin ranging from</div> </div>1.95<div style="font-size: 10pt; text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;">% to </div>2.55<div style="font-size: 10pt; text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;">%</div><div style="text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;"> per annum as adjusted in accordance with the leverage ratio. The SC Borrower may select an interest period for borrowings under the SCC 2024 Revolving Facility ranging from one to six months or any other agreed period. The SC Borrower is obligated to pay a commitment fee on the undrawn amount of the SCC 2024 Revolving Facility and recognized loan commitment fees of</div><div style="font-size: 10pt; text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;"> $</div>189<div style="font-size: 10pt; text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;"> during the year ended December 31, 2024.</div></div><div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">As of December 31, 2024, the outstanding principal amount of the SCC 2024 Revolving Facility was nil and the available unused borrowing capacity under the SCC 2024 Revolving Facility was HK$1,945,000 (equivalent to $250,532). </div></div></div><div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The SCC 2016 Credit Facilities and the SCC 2024 Revolving Facility are collectively referred to as the “SCC Credit Facilities”.</div></div></div><div style="font-size: 6pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 6pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%; font-size: 10pt; font-family: "Times New Roman";text-indent: 0px;">The SCC 2016 Term Loan is collateralized by cash of HK$1,013 (equivalent to $130). <div style="letter-spacing: 0px; top: 0px;display:inline;">The SC Borrower is subject to mandatory prepayment requirements in respect of various amounts of the SCC 2016 Revolving Facility and the SCC 2024 Revolving Facility; in the event of the disposal of all or substantially all of the business and assets of the Studio City borrowing group which includes the SC Borrower and certain of its subsidiaries as defined under the SCC Credit Facilities (the “SC Borrowing Group”), the SCC Credit Facilities are required to be repaid in full. In the event of a change of control, the SC Borrower may be required, at the election of any lender under the SCC Credit Facilities, to repay such lender in full (other than the principal amount of the SCC 2016 Term Loan). </div> </div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The indebtedness under the SCC Credit Facilities is guaranteed by SCI and its subsidiaries (other than the SC Borrower). Security for the SCC Credit Facilities includes a first-priority mortgage over any rights under the land concession contract of Studio City and an assignment of certain leases or rights to use agreements; as well as other customary security. The SCC Credit Facilities contain certain affirmative and negative covenants customary for such financings, as well as affirmative, negative and financial covenants aligned with those of certain other financings at SCF. Certain specified bank accounts of MRM are pledged under SCC Credit Facilities and related finance documents. The SCC Credit Facilities are secured by substantially all of the material assets of SCI and its subsidiaries. Pursuant to the guarantee dated November 29, 2024 signed by SCIH, the indebtedness under the SCC 2024 Revolving Facility is also guaranteed by SCIH. </div></div></div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">The SCC Credit Facilities contain certain covenants that, subject to certain exceptions and conditions, limit the ability of SCC, SCI and their respective restricted subsidiaries to, among other things: (i) incur or guarantee additional indebtedness and issue certain preferred stock; (ii) make specified restricted payments and investments; (iii) prepay or redeem subordinated debt or equity; (iv) issue or sell capital stock; (v) transfer, lease or sell assets; (vi) create or incur certain liens; (vii) impair the security interests in the collateral; (viii) enter into agreements that restrict the restricted subsidiaries’ ability to pay dividends, transfer assets or make intercompany loans; (ix) change the nature of the business of the relevant group; (x) enter into transactions with affiliates; and (xi) effect a consolidation or merger. The SCC Credit Facilities also contain conditions and events of default customary for such financings. </div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">In addition, modification, expiry, or termination of the gaming concession of MRM in circumstances that have a material adverse effect on the SC Borrowing Group (as a whole) will allow lenders to elect for the mandatory prepayment of all outstanding loan amounts. <br/></div><div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">There are provisions that limit certain payments of dividends and other distributions by the SC Borrowing Group to companies or persons who are not members of the SC Borrowing Group. As of December 31, 2024, the net assets of SCI and its restricted subsidiaries of approximately $</div>585,000<div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> were restricted from being distributed under the terms of the SCC Credit Facilities.</div></div><div style="font-size: 8pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 8pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div><div style="font-weight:bold;display:inline;"> </div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Scheduled maturities of the long-term debt (excluding unamortized deferred financing costs and original issue premiums) as of December 31, 2024 are as follows: </div></div></div> <div style="letter-spacing: 0px; top: 0px; background: none;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div> <div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="null;text-indent: 0px;"> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentcolor; width: 96%; font-family: "Times New Roman"; font-size: 10pt; margin-left: auto; border-collapse: collapse; border-spacing: 0px;"> <tr> <td style="width: 88%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);"> <td style="vertical-align: top; width: 88%;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Year ending December 31,</div></div></div></td> <td style="vertical-align: bottom; width: 3%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 88%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">2025</div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">221,622</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 88%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">2026</div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 88%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">2027</div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">350,000</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 88%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">2028</div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">500,000</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 88%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">2029</div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,100,129</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 88%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Over 2029</div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 88%;"></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 88%;"></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$<div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">2,171,751</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 88%;"></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr></table></div>

<div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Long-term debt, net consisted of the following: </div></div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div><div style="null;text-indent: 0px;"><div style="clear:both;max-height:0pt;"></div></div><div style="clear:both;max-height:0pt;text-indent: 0px;"></div><div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;width:96%;border:0;margin-left:auto"> <tr> <td style="width: 74%;"></td> <td style="vertical-align:bottom;width:4%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:4%"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="6" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap;text-align:center;">December 31,</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap;text-align:center"> 2024 </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="border-bottom:1.00pt solid #000000;vertical-align:bottom;white-space:nowrap;text-align:center"> 2023 </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">SCF 6.000% Senior Notes, due 2025 (net of unamortized deferred financing costs of $253 and $1,320, respectively)</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">221,369</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">395,680</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">SCC 7.000% Senior Notes, due 2027 (net of unamortized deferred financing costs of $2,862 and $4,039, respectively)</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">347,138</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">345,961</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">SCF 6.500% Senior Notes, due 2028 (net of unamortized deferred financing costs of $2,299 and $2,970, respectively)</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">497,701</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">497,030</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">SCF 5.000% Senior Notes, due 2029 (net of unamortized deferred financing costs and original issue premiums of $2,990 and $3,626, respectively)</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,097,010</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,096,374</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">SCC 2016 Credit Facilities, due 2029</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">SCC 2016 Term Loan</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">129</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">128</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 3em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">SCC 2016 Revolving Facility<div style="font-size:75%; vertical-align:top;display:inline;font-size:8.3px">(1) </div></div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">SCC 2024 Revolving Facility, due 2029<div style="font-size: 75%; vertical-align: top;display:inline;font-size:8.3px">(2) </div></div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 74%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">2,163,347</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">2,335,173</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Less: Current portion of long-term debt, net</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(21,597</td> <td style="white-space: nowrap; vertical-align: bottom; padding: 0px;">)<div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 74%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 74%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Long-term debt, net</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">2,141,750</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">2,335,173</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 74%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr></table></div><div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(1)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: "Times New Roman"; text-align: left; line-height: normal;text-indent: 0px;">As of December 31, 2024 and 2023, the unamortized deferred financing costs related to the SCC 2016 Revolving Facility of $308 and $278<div style="letter-spacing: 0px; top: 0px;display:inline;">, respectively, are included in long-term prepayments, deposits and other assets in the accompanying consolidated balance sheets. </div> </div></td></tr></table> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(2)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: "Times New Roman"; text-align: left; line-height: normal;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">As of December 31, 2024, the unamortized deferred financing costs related to the SCC 2024 Revolving Facility of</div> $8,484 is included in long-term prepayments, deposits and other assets in the accompanying consolidated balance sheets. </div></td></tr></table>

253000

1320000

221369000

395680000

2862000

4039000

347138000

345961000

2299000

2970000

497701000

497030000

2990000

3626000

1097010000

1096374000

129000

128000

2163347000

2335173000

21597000

2141750000

2335173000

308000

278000

8484000

1000000000

500000000

0.06

2025-07-15

500000000

0.065

2028-01-15

2023-12-08

75000000 100000000

100000000

2024-05-06

100000000 100029000

100029000

75349000

3000000

1000000 1611000

221622000

199772000

750000000

0.05

2029-01-15

350000000

0.05

2029-01-15

1.015 657000000

350000000

0.07

2027-02-15

1 585000000

234000000

30077000

1000000

129000

233000000

29948000

2029-08-29

0.0006 0.002

0.0225

0.04

0.0683

0.0927

403000

417000

1000000

129000

233000000

30012000

1945000000

250273000

2029-11-29

100000000

0.0195

0.0255

189000

1945000000

250532000

1013000

130000

585000000

221622000

350000000

500000000

1100129000

2171751000

P40Y

<div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The components of lease costs are as follows: </div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;"> <br/></div> <table cellpadding="0" cellspacing="0" style="text-align:start; border-collapse: collapse; font-family: "Times New Roman"; font-size: 10pt; width: 96%; border: 0px; margin-left: auto; border-spacing: 0px;"> <tr> <td style="width: 67%;"></td> <td style="vertical-align: bottom; width: 4%;"></td> <td></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 4%;"></td> <td></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 4%;"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="10" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;">Year Ended December 31,</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;">2024</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;">2023</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;">2022</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 67%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Operating lease costs:</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 67%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Amortization of land use right</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">3,314</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">3,302</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">3,300</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 67%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Operating lease costs</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,076</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,072</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,078</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 67%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Finance lease costs:</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 67%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Amortization of <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space:nowrap;display:inline;">right-of-use</div></div> assets</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">65</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 67%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 67%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Total lease costs</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$<div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"> </div><div style="display:inline;"> </div><div style="display:inline;"> </div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">4,455</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"> 4,374</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"> 4,378</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 67%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr></table>

3314000 3302000 3300000

1076000

1072000

1078000

65000

4455000

4374000

4378000

<div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Other information related to lease terms and discount rates of operating leases is as follows:</div></div> <div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><br/></div> <table cellpadding="0" cellspacing="0" style="text-align:start; border-collapse: collapse; font-family: "Times New Roman"; font-size: 10pt; width: 96%; border: 0px; margin-left: auto; border-spacing: 0px;"> <tr> <td style="width:75%"></td> <td style="vertical-align: bottom; width: 4%;"></td> <td></td> <td></td> <td></td> <td style="vertical-align: bottom; width: 3%;"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="6" style="vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);text-align:center;">December 31,</td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap; text-align: center; border-bottom: 1pt solid rgb(0, 0, 0);"> 2024 </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td> <td colspan="2" style="vertical-align: bottom; white-space: nowrap; text-align: center; border-bottom: 1pt solid rgb(0, 0, 0);"> 2023 </td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 75%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Weighted average remaining lease term</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">30.8 years</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">31.8 years</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 75%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Weighted average discount rate</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">7.39%</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">7.81%</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr></table>

P30Y9M18D

P31Y9M18D

0.0739

0.0781

<div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Maturities of operating lease liabilities as of December 31, 2024 are as follows: </div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; border-collapse: collapse; font-family: "Times New Roman"; font-size: 10pt; width: 96%; border: 0px; margin-left: auto; border-spacing: 0px;"> <tr> <td style="width:87%"></td> <td style="vertical-align: bottom; width: 7%;"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 87%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Year ending December 31,</div></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 87%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">2025</div></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,589</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 87%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">2026</div></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,134</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 87%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">2027</div></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,134</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 87%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">2028</div></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,134</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 87%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">2029</div></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,134</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 87%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Over 2029</div></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">29,268</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 87%;"></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 87%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Total future minimum lease payments</div></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">35,393</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 87%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Less: amount representing interest</div></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(21,613</td> <td style="white-space: nowrap; vertical-align: bottom; padding: 0px;">)</td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 87%;"></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 87%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Present value of future minimum lease payments</div></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">13,780</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 87%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Current portion</div></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(1,553</td> <td style="white-space: nowrap; vertical-align: bottom; padding: 0px; text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;">)<div style="display:inline;"> </div></div></td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 87%;"></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 87%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Non-current</div> portion</div></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">12,227</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 87%;"></td> <td style="vertical-align: bottom; width: 7%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr></table>

1589000

1134000

29268000

35393000

21613000

13780000

1553000

12227000

2037-06 6665000 4393000 3714000 5767000 3111000 449000 0 41000 198000

<div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Future minimum fees, excluding the contingent fees to be received under <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">non-cancellable</div> operating leases as of December 31, 2024 were as follows: </div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> <br/></div> <table cellpadding="0" cellspacing="0" style="text-align:start; border-collapse: collapse; font-family: "Times New Roman"; font-size: 10pt; width: 96%; border: 0px; margin-left: auto; border-spacing: 0px;"> <tr> <td style="width: 87%;"></td> <td style="vertical-align: bottom; width: 5%;"></td> <td></td> <td></td> <td></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 87%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Year ending December 31,</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 87%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">2025</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">6,840</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 87%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">2026</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">5,989</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 87%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">2027</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">4,471</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 87%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">2028</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">3,382</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 87%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">2029</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">940</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 87%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Over 2029</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,404</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 87%;"></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 87%;"></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">23,026</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 87%;"></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr></table>

6840000

5989000

4471000

3382000

940000

1404000

23026000

2052327000

2113560000

2171751000

2347128000

400000000

300000000

841000

1927488240

72511760

0.0001

770352700

72511760

<table cellpadding="0" cellspacing="0" style="text-align:start; border-collapse: collapse; font-family: "Times New Roman"; font-size: 10pt; border: 0px; width: 100%; border-spacing: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">14.</div></div></td> <td style="vertical-align:top;text-align:left;"> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;"><div style="font-weight:bold;display:inline;">INCOME TAXES </div></div> </td> </tr> </table> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Loss before income tax consisted of: </div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;"> <div style="letter-spacing: 0px; top: 0px;display:inline;"></div><br/></div> <div> <div style="null;text-indent: 0px;"> <div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentColor; border-image: none; width: 96%; font-size: 10pt; margin-left: auto; border-collapse: collapse;text-indent: 0px;"> <tr style="color: white; line-height: 0pt; visibility: hidden;"> <td style="width: 67%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr> <tr style="font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="10" style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">Year Ended December 31,</div></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size: 1px;"> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td colspan="9" style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2024</div></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2023</div></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2022</div></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size: 1px;"> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="color: white; line-height: 0pt; visibility: hidden;"> <td style="width: 67%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Macau operations</div> </td> <td style="vertical-align: bottom; width: 3%; text-indent: 0px;"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$<div style="display:inline;"> </div></div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">42,813</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%; text-indent: 0px;"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(25,450</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)</div><div style="font-size: 10pt; font-family: "Times New Roman", serif; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%; text-indent: 0px;"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(271,801</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Hong Kong and other jurisdictions operations</div> </td> <td style="vertical-align: bottom; width: 3%; text-indent: 0px;"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(141,292</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)</div><div style="font-size: 10pt; font-family: "Times New Roman", serif; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"> </div></div></td> <td style="vertical-align: bottom; width: 3%; text-indent: 0px;"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(120,715</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; width: 3%; text-indent: 0px;"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(89,124</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 67%;"></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Loss before income tax</div> </td> <td style="vertical-align: bottom; width: 3%; text-indent: 0px;"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(98,479</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)</div></td> <td style="vertical-align: bottom; width: 3%; text-indent: 0px;"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> (146,165</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; width: 3%; text-indent: 0px;"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> (360,925</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)</div><div style="font-size: 10pt; font-family: "Times New Roman", serif; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="background: none; text-decoration: none;display:inline;"> </div></div></td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 67%;"></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> </div> </div> </div> <div style="text-indent: 4%; font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The income tax expense (benefit) consisted of: </div></div></div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;"> <div style="letter-spacing: 0px; top: 0px;display:inline;"></div><br/></div> <div> <div style="null;text-indent: 0px;"> <div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentColor; border-image: none; width: 96%; font-size: 10pt; margin-left: auto; border-collapse: collapse;text-indent: 0px;"> <tr style="color: white; line-height: 0pt; visibility: hidden;"> <td style="width: 67%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr> <tr style="font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="10" style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">Year Ended December 31,</div></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size: 1px;"> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td colspan="9" style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2024</div></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2023</div></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2022</div></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size: 1px;"> <td style="vertical-align: bottom; width: 67%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom; width: 3%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="color: white; line-height: 0pt; visibility: hidden;"> <td style="width: 67%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr> <tr style="break-inside: avoid; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Income tax expense - current:</div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0); width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Macau Complementary Tax</div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap; vertical-align: bottom; text-align: right; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">7,534</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap; vertical-align: bottom; text-align: right; background-color: rgba(255, 255, 255, 0); padding: 0pt 5pt 0pt 0pt;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px; white-space: nowrap;display:inline;">—</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap; vertical-align: bottom; text-align: right; background-color: rgba(255, 255, 255, 0); padding: 0pt 5pt 0pt 0pt;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px; white-space: nowrap;display:inline;">—</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Hong Kong Profits Tax</div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255); padding: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">5</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255); padding: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">7</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255); padding: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">1</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 67%;"></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0); width: 67%; text-indent: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Sub-total</div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%; text-indent: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; text-align: right; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">7,539</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%; text-indent: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; text-align: right; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">7</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"><div style="background: none;display:inline;"> </div></div><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"></div> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%; text-indent: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; text-align: right; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">1</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 67%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> </tr> <tr style="break-inside: avoid; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 67%;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Under (over) provision of income taxes in prior years:</div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0); width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Macau Complementary Tax</div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">50</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="break-inside: avoid; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 67%; text-indent: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Hong Kong Profits Tax</div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%; text-indent: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(1</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)<div style="display:inline;"> </div></div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%; text-indent: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(15</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%; text-indent: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"></div><div style="font-size: 10pt; font-family: "Times New Roman", serif; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="background: none; text-decoration: none;display:inline;"> </div></div></td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 67%;"></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0); width: 67%; text-indent: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Sub-total</div></div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%; text-indent: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">49</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-size: 10pt; font-family: "Times New Roman", serif; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%; text-indent: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(15</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%; text-indent: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 67%;"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);"> </td> </tr> <tr style="break-inside: avoid; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Income tax (benefit) expense - deferred:</div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0); width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Macau Complementary Tax</div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(236</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)</div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(73</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">381</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 67%;"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);"> </td> </tr> <tr style="break-inside: avoid; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 67%;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Total income tax expense (benefit) </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">7,352</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(81</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)</div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">382</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 67%;"></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> </div> </div> </div> <div style="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">A reconciliation of the income tax expense (benefit) from loss before income tax per the accompanying consolidated statements of operations is as follows: </div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;"> <div style="letter-spacing: 0px; top: 0px;display:inline;"></div><br/></div> <div> <div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentColor; border-image: none; width: 96%; font-size: 10pt; margin-left: auto; border-collapse: collapse;text-indent: 0px;"> <tr style="color: white; line-height: 0pt; visibility: hidden;"> <td style="width: 67%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr> <tr style="font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="10" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">Year Ended December 31,</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2024</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2023</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2022</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="visibility:hidden; line-height:0pt; color:white"> <td style="width: 67%;"></td> <td style="vertical-align:bottom;width:3%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%"></td> <td></td> <td></td> <td></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Loss before income tax</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(98,479</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)</div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> (146,165</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> (360,925</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Macau Complementary Tax rate</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> 12</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">12</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">12</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 67%;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Income tax benefit at Macau Complementary Tax rate</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(11,817</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)</div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(17,540</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(43,311</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Effect of different tax rates of subsidiaries operating in other jurisdictions</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(6,352</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)</div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(5,432</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(3,449</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 67%;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Under (over) provision in prior years</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">49</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(15</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Effect of income for which no income tax expense is payable</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(1,378</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)</div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(2,191</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(1,438</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Effect of expenses for which no income tax benefit is receivable</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">10,727</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">6,338</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">16,560</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Effect of profits exempted from Macau Complementary Tax</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(61</td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Changes in valuation allowances</div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">4,557</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">1,515</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">16,202</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="break-inside: avoid; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0); width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Expired tax losses</div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">11,566</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">17,305</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">15,818</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 67%;"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Income tax expense (benefit)</div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">7,352</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(81</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">382</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 67%;"></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> </div> </div> <div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"> </div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center"> </div> <div></div><div> <div style="line-height:normal;display: inline;"> </div> </div><div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;text-indent: 0px;"> </div><div style="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">SCIH and certain of its subsidiaries are exempt from tax in the Cayman Islands or British Virgin Islands (“BVI”), where they are incorporated, while certain of these subsidiaries incorporated in BVI are subject to Hong Kong Profits Tax on income derived from Hong Kong during the years ended December 31, 2024, 2023 and 2022. The remaining subsidiaries of SCIH incorporated in Macau and Hong Kong are subject to Macau Complementary Tax and Hong Kong Profits Tax, respectively, during the years ended December 31, 2024, 2023 and 2022. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Macau Complementary Tax and Hong Kong Profits Tax have been provided at 12% and 16.5% on the estimated taxable income earned in or derived from Macau and Hong Kong, respectively, during the years ended December 31, 2024, 2023 and 2022, if applicable. </div><div style="letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">SCE applied for an extension of the Macau Complementary Tax exemption on profits generated from income from MRM for 2022 under the previous gaming subconcession and for the period of 10 years from 2023 to 2032 under the Concession to the extent that such income is derived from Studio City gaming operations and has been subject to gaming tax. These applications are subject to the discretionary approval of the Macau government. The application for the Macau Complementary Tax exemption for 2023 to 2032 was confirmed to be rejected in September 2024. The dividend distributions of SCE from income tax exempted profits to its shareholders continue to be subject to the Macau Complementary Tax. </div></div></div><div style="letter-spacing: 0px; top: 0px; text-indent: 0px; background: none;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px; background: none; text-decoration: none;display:inline;"> </div></div> <div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">Global Anti-Base Erosion Model Rules (“Pillar Two”) have been enacted or substantively enacted in certain jurisdictions where the Company operates. Pillar Two is effective for the Company’s financial year beginning on January 1, 202<div style="letter-spacing: 0px; top: 0px;display:inline;">5</div>. The Company is in scope of the enacted or substantively enacted legislation and has performed an assessment of the Company’s potential exposure to Pillar Two income taxes. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;"><div style="text-indent: 0px; letter-spacing: 0px; top: 0px;display:inline;">The assessment of the potential exposure to Pillar Two income taxes is based on the most recent tax filings, country-by-country reporting and financial statements for the constituent entities in the Company. Based on the assessment, the Pillar Two transitional safe harbor relief will apply or the effective tax rates are above</div> 15% <div style="letter-spacing: 0px; top: 0px;display:inline;">in 2024. Based on management’s best estimate, the Company does not have exposure to Pillar Two top-up taxes for the year ended December 31, 2024. </div> </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman;text-indent: 0px;">The effective tax rates for the years ended December 31, 2024, 2023 and 2022 were <div style="letter-spacing: 0px; top: 0px;display:inline;">(7.5)</div>%, <div style="letter-spacing: 0px; top: 0px;display:inline;">0.1</div>% and (<div style="letter-spacing: 0px; top: 0px;display:inline;">0.1</div>)%, respectively. Such rates differ from the statutory Macau Complementary Tax rate of <div style="letter-spacing: 0px; top: 0px;display:inline;">12</div>%, where the majority of the Company’s operations are located, primarily due to the effects of expired tax losses, expenses for which no income tax benefit is receivable, different tax rates of subsidiaries operating in other jurisdictions, income for which no income tax expense is payable and changes in valuation allowances for the relevant years. </div><div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;text-indent: 0px;"> </div><div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center;text-indent: 0px;"> </div><div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;"> </div> <div style="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The net deferred tax liabilities as of December 31, 2024 and 2023 consisted of the following: </div><div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;"> <br/></div><div><div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentcolor; width: 96%; font-family: "Times New Roman"; font-size: 10pt; margin-left: auto; border-collapse: collapse; border-spacing: 0px;"> <tr> <td style="width: 77%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 4%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 4%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="6" style="text-align: center; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;">December 31,</div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;">2024</div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;">2023</div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 77%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Deferred tax assets:</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 77%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Net operating losses carried forward</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">46,650</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"> 43,938</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 77%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Depreciation and amortization</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">125,897</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">36,692</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 77%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Lease liabilities</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,654</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,601</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 1pt; margin-left: 2em; line-height: normal;">Other</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">79</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">165</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 77%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 77%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Sub-total</div></div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">174,280</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">82,396</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 77%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Valuation allowances</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(172,688</td> <td style="white-space:nowrap;vertical-align:bottom">)<div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(80,665</td> <td style="white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 77%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 77%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Total deferred tax assets</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,592</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,731</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 77%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 77%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Deferred tax liabilities:</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 77%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space:nowrap;display:inline;">Right-of-use</div></div> assets</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(1,397</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(1,394</td> <td style="white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 77%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Unrealized capital allowances</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(646</td> <td style="white-space:nowrap;vertical-align:bottom">) </td></tr> <tr> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;">Other</div></td> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom; white-space: nowrap;"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap;">(272</td> <td style="vertical-align: bottom; white-space: nowrap;">) </td> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom; white-space: nowrap;"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap;">— </td> <td style="vertical-align: bottom; white-space: nowrap;"> </td></tr> <tr> <td style="vertical-align: bottom; width: 77%; line-height: 1pt; font-size: 1pt;"><div style="font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 4%; line-height: 1pt; font-size: 1pt;"><div style="font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; line-height: 1pt; font-size: 1pt;"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); font-size: 1pt; line-height: 1pt;"><div style="font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></td> <td style="vertical-align: bottom; line-height: 1pt; font-size: 1pt;"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); font-size: 1pt; line-height: 1pt;"><div style="font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></td> <td style="line-height: 1pt; font-size: 1pt;"><div style="font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 4%; line-height: 1pt; font-size: 1pt;"><div style="font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; line-height: 1pt; font-size: 1pt;"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); font-size: 1pt; line-height: 1pt;"><div style="font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></td> <td style="vertical-align: bottom; line-height: 1pt; font-size: 1pt;"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); font-size: 1pt; line-height: 1pt;"><div style="font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></td> <td style="line-height: 1pt; font-size: 1pt;"><div style="font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 77%; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Total deferred tax liabilities</div></td> <td style="vertical-align: bottom; width: 4%; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">(1,669</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);">)</td> <td style="vertical-align: bottom; width: 4%; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">(2,040</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);">) </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 77%; background-color: rgba(255, 255, 255, 0);"></td> <td style="vertical-align: bottom; width: 4%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; width: 4%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgba(255, 255, 255, 0);"> </td></tr> <tr style="break-inside: avoid; font-family: "Times New Roman"; font-size: 10pt;"> <td style="vertical-align: top; width: 77%; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Deferred tax liabilities, net</div></td> <td style="vertical-align: bottom; width: 4%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">$</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">(77</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">)</td> <td style="vertical-align: bottom; width: 4%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">$</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">(309</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">) </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 77%; background-color: rgba(255, 255, 255, 0);"></td> <td style="vertical-align: bottom; width: 4%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; width: 4%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgba(255, 255, 255, 0);"> </td></tr></table></div></div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">As of December 31, 2024 and 2023, valuation allowances of $<div style="letter-spacing: 0px; top: 0px;display:inline;">172,688<div style="display:inline;"> </div></div>and $<div style="letter-spacing: 0px; top: 0px;display:inline;">80,665 </div>were provided, respectively, as management believes it is more likely than not that these deferred tax assets will not be realized. As of December 31, 2024, adjusted operating tax losses carried forward, amounting to $<div style="letter-spacing: 0px; top: 0px;display:inline;">138,332</div>, $<div style="letter-spacing: 0px; top: 0px;display:inline;">133,803<div style="display:inline;"> </div></div>and $<div style="letter-spacing: 0px; top: 0px;display:inline;">116,611<div style="display:inline;"> </div></div>will expire in 2025, 2026 and 2027, respectively. Adjusted operating tax losses carried forward of $<div style="letter-spacing: 0px; top: 0px;display:inline;">96,383</div> expired during the year ended December 31, 2024. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Deferred tax, where applicable, is provided under the asset and liability method at the enacted statutory income tax rate of the respective tax jurisdictions, applicable to the respective financial years, on the difference between the consolidated financial statements carrying amounts and income tax base of assets and liabilities. </div><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Undistributed earnings of a foreign subsidiary of SCIH available for distribution to SCIH of approximately $<div style="letter-spacing: 0px; top: 0px;display:inline;">745,397</div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">and $745,689 </div></div>as of December 31, 2024 and 2023<div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">, respectively, are considered to be indefinitely reinvested. Accordingly, </div></div>no provision has been made for the dividend withholding taxes that would be payable upon the distribution of those amounts to SCIH. If those earnings were to be distributed or they were determined to be no longer permanently reinvested, SCIH would have to record a deferred income tax liability in respect of those undistributed earnings of approximately $<div style="letter-spacing: 0px; top: 0px;display:inline;">89,448</div> <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">and $89,483 </div></div>as of December 31, 2024 and <div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;text-indent: 0px;display:inline;">2023, respectively.</div></div></div> <div style="font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">A reconciliation of the beginning and ending amounts of unrecognized tax benefits is presented as follows:</div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"></div><br/></div><div style="null;text-indent: 0px;"><div style="null;text-indent: 0px;"><div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentColor; border-image: none; width: 96%; font-family: Times New Roman; font-size: 10pt; margin-left: auto; border-collapse: collapse;text-indent: 0px;"> <tr> <td style="width: 58%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 6%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 6%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 6%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="10" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Year Ended December 31,</div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> 2024 </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> 2023 </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> 2022 </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr> <td style="width: 58%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 6%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 6%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 6%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">At beginning of year</div></td> <td style="vertical-align: bottom; width: 5.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 7.9%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 6.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 6.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Additions based on tax positions related to current year</div></td> <td style="vertical-align: bottom; width: 5.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 7.9%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">7,562</div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 6.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 6.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Additions based on tax positions related to prior year</div></td> <td style="vertical-align: bottom; width: 5.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 7.9%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">50</div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 6.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 6.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="font-size: 1px;"> <td style="vertical-align: bottom; width: 55.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom; width: 5.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 1.1%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="vertical-align: bottom; width: 7.9%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 1.1%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="vertical-align: bottom; width: 6.8%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 1.1%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="vertical-align: bottom; width: 6.8%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">At end of year</div></td> <td style="vertical-align: bottom; width: 5.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 7.9%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">7,612</div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 6.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 6.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="font-size: 1px;"> <td style="vertical-align: bottom; width: 55.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom; width: 5.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 1.1%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="vertical-align: bottom; width: 7.9%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 1.1%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="vertical-align: bottom; width: 6.8%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 1.1%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="vertical-align: bottom; width: 6.8%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div></div></div></div><div style="font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate were $</div>7,612<div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> and </div>nil<div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> as of December </div>31<div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">, </div>2024<div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"> and </div>2023<div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">, respectively.</div></div><div style="font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt; margin-left: 4%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">As of December 31, 2024 and 2023, there were no interest and penalties related to uncertain tax positions recognized in the accompanying consolidated financial statements. The Company does not anticipate any significant increases or decreases in unrecognized tax benefits within the next twelve months. </div></div></div><div style="font-family: Times New Roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt; margin-left: 4%;">Income tax returns of SCIH’s subsidiaries remain open and subject to examination by the tax authorities of Macau and Hong Kong until the statute of limitations expire in each corresponding jurisdiction. The statute of limitations in Macau and Hong Kong are five years and six years, respectively.</div>

<div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Loss before income tax consisted of: </div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;"> <div style="letter-spacing: 0px; top: 0px;display:inline;"></div><br/></div> <div style="null;text-indent: 0px;"> <div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentColor; border-image: none; width: 96%; font-size: 10pt; margin-left: auto; border-collapse: collapse;text-indent: 0px;"> <tr style="color: white; line-height: 0pt; visibility: hidden;"> <td style="width: 67%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr> <tr style="font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="10" style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">Year Ended December 31,</div></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size: 1px;"> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td colspan="9" style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2024</div></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2023</div></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2022</div></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size: 1px;"> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="color: white; line-height: 0pt; visibility: hidden;"> <td style="width: 67%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Macau operations</div> </td> <td style="vertical-align: bottom; width: 3%; text-indent: 0px;"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$<div style="display:inline;"> </div></div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">42,813</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%; text-indent: 0px;"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(25,450</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)</div><div style="font-size: 10pt; font-family: "Times New Roman", serif; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%; text-indent: 0px;"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(271,801</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Hong Kong and other jurisdictions operations</div> </td> <td style="vertical-align: bottom; width: 3%; text-indent: 0px;"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(141,292</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)</div><div style="font-size: 10pt; font-family: "Times New Roman", serif; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"> </div></div></td> <td style="vertical-align: bottom; width: 3%; text-indent: 0px;"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(120,715</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; width: 3%; text-indent: 0px;"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(89,124</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 67%;"></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Loss before income tax</div> </td> <td style="vertical-align: bottom; width: 3%; text-indent: 0px;"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(98,479</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)</div></td> <td style="vertical-align: bottom; width: 3%; text-indent: 0px;"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> (146,165</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; width: 3%; text-indent: 0px;"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> (360,925</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)</div><div style="font-size: 10pt; font-family: "Times New Roman", serif; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="background: none; text-decoration: none;display:inline;"> </div></div></td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 67%;"></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align:bottom"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> </div> </div>

42813000 -25450000 -271801000 -141292000 -120715000 -89124000 -98479000 -146165000 -360925000

<div style="text-indent: 4%; font-family: Times New Roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">The income tax expense (benefit) consisted of: </div></div></div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;"> <div style="letter-spacing: 0px; top: 0px;display:inline;"></div><br/></div> <div style="null;text-indent: 0px;"> <div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentColor; border-image: none; width: 96%; font-size: 10pt; margin-left: auto; border-collapse: collapse;text-indent: 0px;"> <tr style="color: white; line-height: 0pt; visibility: hidden;"> <td style="width: 67%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr> <tr style="font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="10" style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">Year Ended December 31,</div></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size: 1px;"> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td colspan="9" style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2024</div></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2023</div></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2022</div></div></td> <td style="vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size: 1px;"> <td style="vertical-align: bottom; width: 67%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom; width: 3%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td style="vertical-align: bottom;"> <div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1pt solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> </td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="color: white; line-height: 0pt; visibility: hidden;"> <td style="width: 67%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr> <tr style="break-inside: avoid; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Income tax expense - current:</div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0); width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Macau Complementary Tax</div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap; vertical-align: bottom; text-align: right; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">7,534</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap; vertical-align: bottom; text-align: right; background-color: rgba(255, 255, 255, 0); padding: 0pt 5pt 0pt 0pt;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px; white-space: nowrap;display:inline;">—</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap; vertical-align: bottom; text-align: right; background-color: rgba(255, 255, 255, 0); padding: 0pt 5pt 0pt 0pt;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px; white-space: nowrap;display:inline;">—</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Hong Kong Profits Tax</div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255); padding: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">5</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255); padding: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">7</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255); padding: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">1</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 67%;"></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0); width: 67%; text-indent: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Sub-total</div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%; text-indent: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; text-align: right; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">7,539</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%; text-indent: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; text-align: right; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">7</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"><div style="background: none;display:inline;"> </div></div><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"></div> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%; text-indent: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; text-align: right; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">1</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 67%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> </tr> <tr style="break-inside: avoid; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 67%;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Under (over) provision of income taxes in prior years:</div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0); width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Macau Complementary Tax</div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">50</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="break-inside: avoid; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 67%; text-indent: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Hong Kong Profits Tax</div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%; text-indent: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(1</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)<div style="display:inline;"> </div></div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%; text-indent: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(15</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%; text-indent: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"></div><div style="font-size: 10pt; font-family: "Times New Roman", serif; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="background: none; text-decoration: none;display:inline;"> </div></div></td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 67%;"></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0); width: 67%; text-indent: 0px;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Sub-total</div></div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%; text-indent: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">49</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="font-size: 10pt; font-family: "Times New Roman", serif; background: none; letter-spacing: 0px; top: 0px;display:inline;"><div style="background: none; text-decoration: none;display:inline;"> </div></div><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%; text-indent: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(15</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%; text-indent: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-indent: 0px;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 67%;"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);"> </td> </tr> <tr style="break-inside: avoid; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Income tax (benefit) expense - deferred:</div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0); width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Macau Complementary Tax</div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(236</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)</div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(73</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">381</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 67%;"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);"> </td> </tr> <tr style="break-inside: avoid; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 67%;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Total income tax expense (benefit) </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">7,352</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(81</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)</div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">382</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 67%;"></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> </div> </div>

7534000

5000

7000

1000

7539000

7000

1000

50000

-1000

-15000

49000

-15000

-236000

-73000

381000

7352000

-81000

382000

<div style="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">A reconciliation of the income tax expense (benefit) from loss before income tax per the accompanying consolidated statements of operations is as follows: </div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;"> <div style="letter-spacing: 0px; top: 0px;display:inline;"></div><br/></div> <div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentColor; border-image: none; width: 96%; font-size: 10pt; margin-left: auto; border-collapse: collapse;text-indent: 0px;"> <tr style="color: white; line-height: 0pt; visibility: hidden;"> <td style="width: 67%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr> <tr style="font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="10" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">Year Ended December 31,</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2024</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2023</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2022</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="visibility:hidden; line-height:0pt; color:white"> <td style="width: 67%;"></td> <td style="vertical-align:bottom;width:3%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%"></td> <td></td> <td></td> <td></td> <td style="vertical-align:bottom;width:3%"></td> <td></td> <td></td> <td></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Loss before income tax</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(98,479</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)</div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> (146,165</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> (360,925</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Macau Complementary Tax rate</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> 12</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">12</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">12</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">% </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 67%;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Income tax benefit at Macau Complementary Tax rate</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(11,817</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)</div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(17,540</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(43,311</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Effect of different tax rates of subsidiaries operating in other jurisdictions</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(6,352</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)</div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(5,432</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(3,449</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 67%;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Under (over) provision in prior years</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">49</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(15</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Effect of income for which no income tax expense is payable</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(1,378</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">)</div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(2,191</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(1,438</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Effect of expenses for which no income tax benefit is receivable</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">10,727</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">6,338</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">16,560</div></td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Effect of profits exempted from Macau Complementary Tax</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(61</td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Changes in valuation allowances</div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">4,557</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">1,515</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">16,202</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="break-inside: avoid; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0); width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Expired tax losses</div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">11,566</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">17,305</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">15,818</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 67%;"></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Def.-Times; font-size:10pt"> <td style="vertical-align: top; background-color: rgb(204, 238, 255); width: 67%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Income tax expense (benefit)</div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">7,352</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">(81</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">) </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">382</div></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 67%;"></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 3%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> </div>

-98479000 -146165000 -360925000

0.12

-11817000

-17540000

-43311000

-6352000

-5432000

-3449000

49000

-15000

1378000

2191000

1438000

10727000

6338000

16560000

61000

4557000

1515000

16202000

11566000 17305000 15818000

7352000

-81000

382000

0.12

0.165

0.15

-0.075

0.001

-0.001

0.12

<div style="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The net deferred tax liabilities as of December 31, 2024 and 2023 consisted of the following: </div><div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;"> <br/></div><div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentcolor; width: 96%; font-family: "Times New Roman"; font-size: 10pt; margin-left: auto; border-collapse: collapse; border-spacing: 0px;"> <tr> <td style="width: 77%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 4%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 4%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="6" style="text-align: center; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;">December 31,</div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;">2024</div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;">2023</div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 77%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Deferred tax assets:</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 77%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Net operating losses carried forward</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">46,650</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;"> 43,938</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 77%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Depreciation and amortization</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">125,897</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">36,692</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 77%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Lease liabilities</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,654</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,601</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 1pt; margin-left: 2em; line-height: normal;">Other</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">79</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">165</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 77%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 77%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Sub-total</div></div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">174,280</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">82,396</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 77%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Valuation allowances</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(172,688</td> <td style="white-space:nowrap;vertical-align:bottom">)<div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(80,665</td> <td style="white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 77%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 77%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Total deferred tax assets</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,592</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,731</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 77%;"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 77%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Deferred tax liabilities:</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 77%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style="white-space:nowrap;display:inline;">Right-of-use</div></div> assets</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(1,397</td> <td style="white-space:nowrap;vertical-align:bottom">)</td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(1,394</td> <td style="white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 77%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Unrealized capital allowances</div></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">— </td> <td style="white-space:nowrap;vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 4%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(646</td> <td style="white-space:nowrap;vertical-align:bottom">) </td></tr> <tr> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;">Other</div></td> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom; white-space: nowrap;"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap;">(272</td> <td style="vertical-align: bottom; white-space: nowrap;">) </td> <td style="vertical-align: bottom;"> </td> <td style="vertical-align: bottom; white-space: nowrap;"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap;">— </td> <td style="vertical-align: bottom; white-space: nowrap;"> </td></tr> <tr> <td style="vertical-align: bottom; width: 77%; line-height: 1pt; font-size: 1pt;"><div style="font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 4%; line-height: 1pt; font-size: 1pt;"><div style="font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; line-height: 1pt; font-size: 1pt;"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); font-size: 1pt; line-height: 1pt;"><div style="font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></td> <td style="vertical-align: bottom; line-height: 1pt; font-size: 1pt;"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); font-size: 1pt; line-height: 1pt;"><div style="font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></td> <td style="line-height: 1pt; font-size: 1pt;"><div style="font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 4%; line-height: 1pt; font-size: 1pt;"><div style="font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; line-height: 1pt; font-size: 1pt;"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); font-size: 1pt; line-height: 1pt;"><div style="font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></td> <td style="vertical-align: bottom; line-height: 1pt; font-size: 1pt;"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); font-size: 1pt; line-height: 1pt;"><div style="font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></td> <td style="line-height: 1pt; font-size: 1pt;"><div style="font-size: 1pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 77%; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Total deferred tax liabilities</div></td> <td style="vertical-align: bottom; width: 4%; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">(1,669</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);">)</td> <td style="vertical-align: bottom; width: 4%; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">(2,040</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);">) </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 77%; background-color: rgba(255, 255, 255, 0);"></td> <td style="vertical-align: bottom; width: 4%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; width: 4%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgba(255, 255, 255, 0);"> </td></tr> <tr style="break-inside: avoid; font-family: "Times New Roman"; font-size: 10pt;"> <td style="vertical-align: top; width: 77%; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Deferred tax liabilities, net</div></td> <td style="vertical-align: bottom; width: 4%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">$</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">(77</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">)</td> <td style="vertical-align: bottom; width: 4%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">$</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">(309</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">) </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 77%; background-color: rgba(255, 255, 255, 0);"></td> <td style="vertical-align: bottom; width: 4%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; width: 4%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgba(255, 255, 255, 0);"> </td></tr></table></div>

46650000

43938000

125897000 36692000 1654000 1601000

79000

165000

174280000

82396000

172688000

80665000

1592000

1731000

1397000

1394000

0 646000

272000

1669000

2040000

77000

309000

172688000

80665000

138332000

133803000

116611000

96383000 745397000 745689000 0 0

89448000

89483000

<div style="font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 4%;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">A reconciliation of the beginning and ending amounts of unrecognized tax benefits is presented as follows:</div></div><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><div style="letter-spacing: 0px; top: 0px;display:inline;"></div><br/></div><div style="null;text-indent: 0px;"><div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentColor; border-image: none; width: 96%; font-family: Times New Roman; font-size: 10pt; margin-left: auto; border-collapse: collapse;text-indent: 0px;"> <tr> <td style="width: 58%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 6%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 6%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 6%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="10" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid;"><div style="letter-spacing: 0px; top: 0px;display:inline;">Year Ended December 31,</div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> 2024 </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> 2023 </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> 2022 </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr> <td style="width: 58%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 6%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 6%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 6%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">At beginning of year</div></td> <td style="vertical-align: bottom; width: 5.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 7.9%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 6.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 6.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Additions based on tax positions related to current year</div></td> <td style="vertical-align: bottom; width: 5.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 7.9%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">7,562</div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 6.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 6.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Additions based on tax positions related to prior year</div></td> <td style="vertical-align: bottom; width: 5.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 7.9%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">50</div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 6.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 6.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="font-size: 1px;"> <td style="vertical-align: bottom; width: 55.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom; width: 5.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 1.1%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="vertical-align: bottom; width: 7.9%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 1.1%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="vertical-align: bottom; width: 6.8%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 1.1%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="vertical-align: bottom; width: 6.8%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">At end of year</div></td> <td style="vertical-align: bottom; width: 5.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 7.9%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">7,612</div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 6.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 1.1%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; width: 6.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;">— </div></td> <td style="vertical-align: bottom; white-space: nowrap; width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="font-size: 1px;"> <td style="vertical-align: bottom; width: 55.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom; width: 5.8%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 1.1%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="vertical-align: bottom; width: 7.9%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 1.1%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="vertical-align: bottom; width: 6.8%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5.7%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 1.1%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="vertical-align: bottom; width: 6.8%;"><div style="margin-top: 0pt; margin-bottom: 0pt; border-top: 3px double rgb(0, 0, 0); line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div></td> <td style="width: 0.5%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr></table><div style="clear:both;max-height:0pt;text-indent: 0px;"></div></div></div>

7562000

50000

7612000

P5Y P6Y

361000

P10Y

62000

40000

21000

16480000 200000000 25762000

2023-08-31

2025-08-31

644000

<div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">During the years ended December 31, 2024, 2023 and 2022, the Company entered into the following significant related party transactions: </div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;"> <br/></div> <table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; border: 0px currentcolor; width: 92%; font-family: "Times New Roman"; font-size: 9pt; border-collapse: collapse; text-indent: 0px; border-spacing: 0px;"> <tr> <td style="width: 29%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 45%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 1%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="10" style="text-align: center; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;">Year Ended December 31,</div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; white-space: nowrap; padding-bottom: 0.5pt;"><div style="font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; border-bottom: 1pt solid rgb(0, 0, 0); display: table-cell; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Related companies</div></div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 1pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Nature of transactions</div></div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;">2024</div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;">2023</div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;">2022</div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="font-size:1pt"> <td colspan="3" style="height:6pt"></td> <td colspan="4" style="height:6pt"></td> <td colspan="4" style="height:6pt"></td> <td colspan="4" style="height:6pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td colspan="3" style="vertical-align:top"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 9pt; font-family: "Times New Roman"; line-height: normal;"><div style="font-style: normal; letter-spacing: 0px; top: 0px;display:inline;"><div style="font-style:italic;display:inline;">Transactions with affiliated companies</div></div></div></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td></tr> <tr style="font-size:1pt"> <td style="height:6pt"></td> <td colspan="2" style="height:6pt"></td> <td colspan="4" style="height:6pt"></td> <td colspan="4" style="height:6pt"></td> <td colspan="4" style="height:6pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt"> <td style="vertical-align: top; width: 29%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 9pt; font-family: "Times New Roman"; line-height: normal;">Melco and its subsidiaries</div></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align: bottom; width: 45%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 9pt; font-family: "Times New Roman"; line-height: normal;"><div style="font-weight:bold;display:inline;">Revenues (services provided by the Company):</div></div></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt;background-color:#cceeff"> <td style="vertical-align: top; width: 29%;"></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align: bottom; width: 45%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; font-size: 9pt; font-family: "Times New Roman"; line-height: normal;">Revenue from casino contract</div></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">$259,842</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">155,527</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(56,665</td> <td style="white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt"> <td style="vertical-align: top; width: 29%;"></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align: bottom; width: 45%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; font-size: 9pt; font-family: "Times New Roman"; line-height: normal;">Rooms and food and beverage<div style="font-size:75%; vertical-align:top;display:inline;font-size:7.5px">(1) </div></div></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">154,233</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">111,438</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">25,039</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt;background-color:#cceeff"> <td style="vertical-align: top; width: 29%;"></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align: bottom; width: 45%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; font-size: 9pt; font-family: "Times New Roman"; line-height: normal;">Services fee<div style="font-size:75%; vertical-align:top;display:inline;font-size:7.5px">(2) </div></div></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">59,529</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">40,473</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">21,889</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt"> <td style="vertical-align: top; width: 29%;"></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align: bottom; width: 45%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; font-size: 9pt; font-family: "Times New Roman"; line-height: normal;">Entertainment<div style="font-size:75%; vertical-align:top;display:inline;font-size:7.5px">(1) </div></div></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">25,703</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">39,715</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">499</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1pt"> <td style="height:6pt"></td> <td colspan="2" style="height:6pt"></td> <td colspan="4" style="height:6pt"></td> <td colspan="4" style="height:6pt"></td> <td colspan="4" style="height:6pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt;background-color:#cceeff"> <td style="vertical-align: top; width: 29%;"></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align: bottom; width: 45%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 9pt; font-family: "Times New Roman"; line-height: normal;"><div style="font-weight:bold;display:inline;">Costs and expenses (services provided to the Company):</div></div></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt"> <td style="vertical-align: top; width: 29%;"></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align: bottom; width: 45%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; font-size: 9pt; font-family: "Times New Roman"; line-height: normal;">Staff costs recharges<div style="font-size:75%; vertical-align:top;display:inline;font-size:7.5px">(3) (4)</div></div></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">116,491</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">89,713</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">56,620</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt;background-color:#cceeff"> <td style="vertical-align: top; width: 29%;"></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align: bottom; width: 45%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; font-size: 9pt; font-family: "Times New Roman"; line-height: normal;">Corporate services<div style="font-size:75%; vertical-align:top;display:inline;font-size:7.5px">(5) </div></div></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">41,460</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">34,640</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">33,263</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt"> <td style="vertical-align: top; width: 29%;"></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align: bottom; width: 45%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 9pt; font-family: "Times New Roman"; line-height: normal;">Other services</div></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">21,839</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">20,936</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">17,705</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt;background-color:#cceeff"> <td style="vertical-align: top; width: 29%;"></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align: bottom; width: 45%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 9pt; font-family: "Times New Roman"; line-height: normal;">Staff costs for construction and renovation work capitalized<div style="font-size:75%; vertical-align:top;display:inline;font-size:7.5px">(4) </div></div></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">4,618</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">4,674</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">11,864</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt"> <td style="vertical-align: top; width: 29%;"></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align: bottom; width: 45%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; font-size: 9pt; font-family: "Times New Roman"; line-height: normal;">Purchases of goods and services</div></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">315</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">567</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">186</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1pt"> <td style="height:6pt"></td> <td colspan="2" style="height:6pt"></td> <td colspan="4" style="height:6pt"></td> <td colspan="4" style="height:6pt"></td> <td colspan="4" style="height:6pt"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt;background-color:#cceeff"> <td style="vertical-align: top; width: 29%;"></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align: bottom; width: 45%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;">Sale and purchase of assets:</div></div></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt"> <td style="vertical-align: top; width: 29%;"></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align: bottom; width: 45%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 9pt; font-family: "Times New Roman"; line-height: normal;">Sale of property and equipment </div></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">9,509</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">914</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">8</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt;background-color:#cceeff"> <td style="vertical-align: top; width: 29%;"></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="vertical-align: bottom;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 9pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Transfer-in</div> of other long-term assets</div></td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">31,193</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">5,527</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 1%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right">2,423</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="break-inside: avoid; font-family: "Times New Roman"; font-size: 9pt;"> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0); width: 29%;"></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 1%;"> </td> <td style="vertical-align: bottom;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 9pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;">Purchase of property and equipment</div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 1%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">204</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 1%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">8</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); width: 1%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">184</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td></tr></table> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; border-collapse: collapse; font-family: "Times New Roman"; font-size: 9pt; border: 0px; width: 100%; border-spacing: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(1)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">These revenues primarily represented the standalone selling prices of the complimentary services (including rooms, food and beverage and entertainment services) provided to Studio City Casino’s gaming patrons and charged to MRM. For the years ended December 31, 2024, 2023 and 2022, the related party rooms and food and beverage revenues and entertainment revenues aggregated to $<div style="letter-spacing: 0px; top: 0px;display:inline;">179,936</div>, $<div style="letter-spacing: 0px; top: 0px;display:inline;">151,153</div> and $<div style="letter-spacing: 0px; top: 0px;display:inline;">25,538</div>, respectively, of which $<div style="letter-spacing: 0px; top: 0px;display:inline;">150,135</div>, $<div style="letter-spacing: 0px; top: 0px;display:inline;">113,942</div> and $<div style="letter-spacing: 0px; top: 0px;display:inline;">22,884</div> related to Studio City Casino’s gaming patrons and $<div style="letter-spacing: 0px; top: 0px;display:inline;">29,801</div>, $<div style="letter-spacing: 0px; top: 0px;display:inline;">37,211 </div>and $<div style="letter-spacing: 0px; top: 0px;display:inline;">2,654 </div>related to <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">non-Studio</div> City Casino’s gaming patrons, respectively. </div></td></tr></table> <table cellpadding="0" cellspacing="0" style="text-align:start; border-collapse: collapse; font-family: "Times New Roman"; font-size: 9pt; border: 0px; width: 100%; border-spacing: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(2)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">Services provided by the Company to Melco and its subsidiaries mainly include, but are not limited to, certain shared administrative services and shuttle bus transportation services provided to Studio City Casino. </div></td></tr></table> <table cellpadding="0" cellspacing="0" style="text-align:start; border-collapse: collapse; font-family: "Times New Roman"; font-size: 9pt; border: 0px; width: 100%; border-spacing: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(3)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">Staff costs are recharged by Melco and its subsidiaries for staff who are solely dedicated to Studio City to carry out activities, including food and beverage management, retail management, hotel management, entertainment projects, mall development and sales and marketing activities and staff costs for certain shared administrative services. </div></td></tr></table> <table cellpadding="0" cellspacing="0" style="text-align:start; border-collapse: collapse; font-family: "Times New Roman"; font-size: 9pt; border: 0px; width: 100%; border-spacing: 0px;"> <tr style="page-break-inside:avoid"> <td style="width:4%"> </td> <td style="width:4%;vertical-align:top;text-align:left;">(4)</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 9pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">These staff costs included share-based compensation expenses. </div></td></tr></table>

259842000

155527000

-56665000

154233000

111438000

25039000

59529000

40473000

21889000

25703000

39715000

499000

116491000

89713000

56620000

41460000

34640000

33263000

21839000

20936000

17705000

4618000

4674000

11864000

315000

567000

186000

9509000

914000

8000

31193000

5527000

2423000

204000

8000

184000

179936000

151153000

25538000

150135000

113942000

22884000

29801000

37211000

2654000

30000000

60000000

600000

2508000

3300000

44000

30000

14000

<div style="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The following table presents the results of operations for Studio City and reconciliation to net loss attributable to Studio City International Holdings Limited for the years ended December 31, 2024, 2023 and 2022. </div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;"> <br/></div> <table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; border: 0px currentcolor; width: 92%; font-family: "Times New Roman"; font-size: 10pt; border-collapse: collapse; text-indent: 0px; border-spacing: 0px;"> <tr> <td style="width: 65%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="10" style="text-align: center; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;">Year Ended December 31,</div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;">2024</div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;">2023</div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;">2022</div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr> <td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Operating revenues:</div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td></tr> <tr> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;">Revenue from casino contract</div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);">$</td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);">259,842</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);">$</td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);">155,527</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);">$</td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);">(56,665</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);">) </td></tr> <tr> <td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;">Rooms</div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);">160,721</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);">111,733</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);">17,915</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td></tr> <tr> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;">Food and beverage</div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);">89,660</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);">62,426</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);">17,489</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td></tr> <tr> <td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;">Entertainment</div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);">47,533</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);">61,777</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);">1,649</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td></tr> <tr> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;">Services fee</div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);">59,529</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);">40,473</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);">21,889</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td></tr> <tr> <td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;">Mall</div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);">18,289</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);">10,744</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);">7,189</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);"> </td></tr> <tr> <td style="vertical-align: top; background-color: rgba(255, 255, 255, 0);"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;">Retail and other</div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);">3,571</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);">2,858</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);">2,082</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);"> </td></tr> <tr> <td style="vertical-align: bottom; width: 65%; background-color: rgb(204, 238, 255); line-height: 1pt; font-size: 1pt;"><div style="font-size:1pt;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255); line-height: 1pt; font-size: 1pt;"><div style="font-size:1pt;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); line-height: 1pt; font-size: 1pt;"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); font-size: 1pt; line-height: 1pt;"><div style="font-size:1pt;display:inline;"> </div></div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); line-height: 1pt; font-size: 1pt;"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); font-size: 1pt; line-height: 1pt;"><div style="font-size:1pt;display:inline;"> </div></div></td> <td style="background-color: rgb(204, 238, 255); line-height: 1pt; font-size: 1pt;"><div style="font-size:1pt;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255); line-height: 1pt; font-size: 1pt;"><div style="font-size:1pt;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); line-height: 1pt; font-size: 1pt;"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); font-size: 1pt; line-height: 1pt;"><div style="font-size:1pt;display:inline;"> </div></div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); line-height: 1pt; font-size: 1pt;"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); font-size: 1pt; line-height: 1pt;"><div style="font-size:1pt;display:inline;"> </div></div></td> <td style="background-color: rgb(204, 238, 255); line-height: 1pt; font-size: 1pt;"><div style="font-size:1pt;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255); line-height: 1pt; font-size: 1pt;"><div style="font-size:1pt;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); line-height: 1pt; font-size: 1pt;"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); font-size: 1pt; line-height: 1pt;"><div style="font-size:1pt;display:inline;"> </div></div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255); line-height: 1pt; font-size: 1pt;"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); font-size: 1pt; line-height: 1pt;"><div style="font-size:1pt;display:inline;"> </div></div></td> <td style="background-color: rgb(204, 238, 255); line-height: 1pt; font-size: 1pt;"><div style="font-size:1pt;display:inline;"> </div></td></tr> <tr style="break-inside: avoid; font-family: "Times New Roman"; font-size: 10pt;"> <td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Total operating revenues</div></td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br/></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">639,145</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br/></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">445,538</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"><br/></td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">11,548</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 65%; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Employee benefits expenses<div style="font-size:75%; vertical-align:top;display:inline;font-size:8.3px">(1) </div></div></td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">(146,096</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">)<div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">(103,585</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">) </td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">(60,278</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">) </td></tr> <tr style="break-inside: avoid; font-family: "Times New Roman"; font-size: 10pt;"> <td style="vertical-align: top; width: 65%; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Depreciation and amortization</div></td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">(205,060</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);">)</td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">(169,397</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);">)</td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">(126,956</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);">)</td></tr> <tr style="break-inside: avoid; font-family: "Times New Roman"; font-size: 10pt;"> <td style="vertical-align: top; width: 65%; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 0in; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Interest expense, net of amounts capitalized</div></td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">(133,594</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">)</td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">(129,567</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">) </td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">(92,358</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">) </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; background-color: rgb(204, 238, 255);"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Other segment items<div style="font-size: 75%; vertical-align: top;display:inline;font-size:8.3px">(2)</div></div></td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">(260,226</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);">)</td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">(189,073</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);">)</td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">(93,263</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);">)</td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 65%; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgb(204, 238, 255);"> </td></tr> <tr style="break-inside: avoid; font-family: "Times New Roman"; font-size: 10pt;"> <td style="vertical-align: top; width: 65%; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Net loss</div></td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">(105,831</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">)</td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">(146,084</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">) </td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">(361,307</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">) </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 65%; background-color: rgb(204, 238, 255);"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Net loss attributable to participation interest</div></td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">9,105</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">12,567</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;">34,856</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 65%; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgb(204, 238, 255);"> </td></tr> <tr style="break-inside: avoid; font-family: "Times New Roman"; font-size: 10pt;"> <td style="vertical-align: top; width: 65%; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Net loss attributable to Studio City International Holdings Limited</div></td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">$</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">(96,726</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">)</td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">$</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">(133,517</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">) </td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">$</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;">(326,451</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);">) </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 65%; background-color: rgba(255, 255, 255, 0);"></td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="background-color: rgba(255, 255, 255, 0);"> </td></tr></table> <div style="font-size: 6pt; margin-top: 0px; margin-bottom: 0px;"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentcolor; width: 100%; font-family: "Times New Roman"; font-size: 9pt; border-collapse: collapse; text-indent: 0px; border-spacing: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 4%; text-align: left; vertical-align: top;"><div style="line-height: normal;"> </div></td> <td style="width: 4%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;">(1)</div></td> <td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: "Times New Roman"; font-size: 9pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 9pt; letter-spacing: 0px; top: 0px;display:inline;">“Employee benefits expenses” includes salaries, bonuses and incentives, benefits and allocated labor costs for non-gaming operations from Melco’s subsidiaries. Certain amounts of “Employee benefits expenses” are included in “Other segments items” as pre-opening costs, share-based compensation and property charges and other; and with certain amounts incurred during the construction and development stage of Studio City capitalized in property and equipment. </div></div></div></td></tr></table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> <table cellpadding="0" cellspacing="0" style="text-align:start; border: 0px currentcolor; width: 100%; font-family: "Times New Roman"; font-size: 9pt; border-collapse: collapse; text-indent: 0px; border-spacing: 0px;"> <tr style="page-break-inside: avoid;"> <td style="width: 4%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="width: 4%; text-align: left; vertical-align: top;"><div style="letter-spacing: 0px; top: 0px;display:inline;">(2)</div></td> <td style="text-align: left; vertical-align: top;"><div style="text-align: left; font-family: "Times New Roman"; font-size: 9pt; margin-top: 0pt; margin-bottom: 0pt; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 9pt; letter-spacing: 0px; top: 0px;display:inline;">“Other segment items” mainly include cost of inventories, advertising and promotions expenses, repair and maintenance expenses, utilities and fuel expenses, corporate and other non-gaming services recharged from Melco’s subsidiaries, pre-opening costs, property charges and other, interest income, net foreign exchange (losses) gains, (loss) gain on extinguishment of debt and income tax (expense) benefit.</div></div></div></td></tr></table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div>

259842000

155527000

-56665000

160721000

111733000

17915000

89660000

62426000

17489000

47533000

61777000

1649000

59529000

40473000

21889000

18289000

10744000

7189000

3571000

2858000

2082000

639145000

445538000

11548000

146096000 103585000 60278000 205060000 169397000 126956000

133594000

129567000

92358000

260226000

189073000

93263000

-105831000 -146084000 -361307000 -9105000 -12567000 -34856000

-96726000

-133517000

-326451000

<div id="fin907381_8" style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: center;"><div style="font-weight:bold;display:inline;">STUDIO CITY INTERNATIONAL HOLDINGS LIMITED </div></div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: center;"><div style="font-weight:bold;display:inline;">ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 </div></div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: center;"><div style="font-weight:bold;display:inline;">FINANCIAL INFORMATION OF PARENT COMPANY </div></div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: center;"><div style="font-weight:bold;display:inline;">CONDENSED BALANCE SHEETS </div></div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: center;"><div style="font-weight:bold;display:inline;">(In thousands, except share and per share data) </div></div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;"> <br/></div> <table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; border: 0px currentcolor; width: 100%; font-family: "Times New Roman"; font-size: 10pt; border-collapse: collapse; text-indent: 0px; border-spacing: 0px;"> <tr> <td style="width: 76%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 5%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 5%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="6" style="text-align: center; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;">December 31,</div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;">2024</div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; white-space: nowrap; border-bottom: 1pt solid rgb(0, 0, 0);"><div style="letter-spacing: 0px; top: 0px;display:inline;">2023</div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="font-weight:bold;display:inline;">ASSETS</div></div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Current assets:</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Cash and cash equivalents</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">28</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">28</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Receivables from a subsidiary</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">8,536</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">6,330</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Prepaid expenses and other current assets</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">23</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">3</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 76%;"></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Total current assets</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">8,587</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">6,361</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 76%;"></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Investments in subsidiaries</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">592,643</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">668,012</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 76%;"></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Total assets</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">601,230</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">674,373</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 76%;"></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="font-weight:bold;display:inline;">LIABILITIES AND SHAREHOLDERS’ EQUITY</div></div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Current liabilities:</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Accrued expenses and other current liabilities</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">304</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">1,503</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="-sec-ix-hidden:hidden134737600;display:inline;">Payables</div> to <div style="-sec-ix-hidden:hidden134737603;display:inline;">affiliated</div> companies</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">338</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">346</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Payables to subsidiaries</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">9,853</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">6,420</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 76%;"></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Total current liabilities</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">10,495</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">8,269</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 76%;"></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Total liabilities</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">10,495</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">8,269</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 76%;"></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Shareholders’ equity:</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td> <td style="vertical-align:bottom"></td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Class A ordinary shares, par value $0.0001; 1,927,488,240 shares authorized; 770,352,700 shares issued and outstanding</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">77</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">77</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Class B ordinary shares, par value $0.0001; 72,511,760 shares authorized; 72,511,760 shares issued and outstanding</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">7</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">7</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Additional <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">paid-in</div> capital</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">2,477,359</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">2,477,359</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top;"><div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;">Accumulated other comprehensive income (losses)</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">8,701</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(12,656</td> <td style="white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Accumulated losses</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(1,895,409</td> <td style="white-space:nowrap;vertical-align:bottom">)<div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">(1,798,683</td> <td style="white-space:nowrap;vertical-align:bottom">) </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 76%;"></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Total shareholders’ equity</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">590,735</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">666,104</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 76%;"></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 76%;"><div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Total liabilities and shareholders’ equity</div></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">601,230</td> <td style="white-space:nowrap;vertical-align:bottom"> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="white-space:nowrap;vertical-align:bottom">$</td> <td style="white-space:nowrap;vertical-align:bottom;text-align:right;">674,373</td> <td style="white-space:nowrap;vertical-align:bottom"> </td></tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 76%;"></td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td> <td style="vertical-align: bottom; width: 5%;"> </td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td style="vertical-align:bottom"><div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div></td> <td> </td></tr></table> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"></div> <div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"> </div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center"> </div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: center;"><div style="font-weight:bold;display:inline;">STUDIO CITY INTERNATIONAL HOLDINGS LIMITED </div></div> <div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: center;"><div style="font-weight:bold;display:inline;">ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 </div></div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: center;"><div style="font-weight:bold;display:inline;">FINANCIAL INFORMATION OF PARENT COMPANY </div></div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: center;"><div style="font-weight:bold;display:inline;">CONDENSED STATEMENTS OF OPERATIONS </div></div> <div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: center;"><div style="font-weight:bold;display:inline;">(In thousands) </div></div> <div style="font-size: 12pt; margin-top: 0px; margin-bottom: 0px;"> <br/></div> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> <div style="text-align: center;"></div> <table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; border: 0px currentColor; border-image: none; width: 100%; font-size: 10pt; border-collapse: collapse;text-indent: 0px;"> <tr style="color: white; line-height: 0pt; visibility: hidden;"> <td style="width: 72%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr> <tr style="font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="10" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">Year Ended December 31,</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2024</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2023</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2022</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 72%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Operating revenues</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;">$</td> <td style="vertical-align: bottom;text-align:right;width:5.9%;">— </td> <td style="white-space: nowrap; vertical-align: bottom;width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;width:0.9%;">$</td> <td style="white-space: nowrap; vertical-align: bottom;text-align:right;width:8.8%;">— </td> <td style="white-space: nowrap; vertical-align: bottom;width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;width:0.9%;">$</td> <td style="white-space: nowrap; vertical-align: bottom;text-align:right;width:8.8%;">— </td> <td style="white-space: nowrap; vertical-align: bottom;width:1.1%;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 72%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Operating costs and expenses</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> </td> <td style="vertical-align: bottom;text-align:right;width:5.9%;">(119</td> <td style="white-space: nowrap; vertical-align: bottom;width:1.1%;">)<div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;width:0.9%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;text-align:right;width:8.8%;">— </td> <td style="white-space: nowrap; vertical-align: bottom;width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> </td> <td style="vertical-align: bottom;text-align:right;width:8.8%;">(12</td> <td style="white-space: nowrap; vertical-align: bottom;width:1.1%;">) </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 72%;"></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom;width:5.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom;width:8.8%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom;width:8.8%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width:1.1%;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 72%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Operating loss</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> </td> <td style="vertical-align: bottom;text-align:right;width:5.9%;">(119</td> <td style="white-space: nowrap; vertical-align: bottom;width:1.1%;">)</td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;width:0.9%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;text-align:right;width:8.8%;">— </td> <td style="white-space: nowrap; vertical-align: bottom;width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> </td> <td style="vertical-align: bottom;text-align:right;width:8.8%;">(12</td> <td style="white-space: nowrap; vertical-align: bottom;width:1.1%;">) </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 72%;"></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom;width:5.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom;width:8.8%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom;width:8.8%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width:1.1%;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 72%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Non-operating</div> expenses:</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"></td> <td style="vertical-align: bottom;width:5.9%;"></td> <td style="vertical-align: bottom;width:1.1%;"></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"></td> <td style="vertical-align: bottom;width:8.8%;"></td> <td style="vertical-align: bottom;width:1.1%;"></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"></td> <td style="vertical-align: bottom;width:8.8%;"></td> <td style="vertical-align: bottom;width:1.1%;"></td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 72%;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;">Foreign exchange gains (losses), net</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> </td> <td style="vertical-align: bottom;text-align:right;width:5.9%;">3</td> <td style="white-space: nowrap; vertical-align: bottom;width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> </td> <td style="vertical-align: bottom;text-align:right;width:8.8%;">(2</td> <td style="white-space: nowrap; vertical-align: bottom;width:1.1%;">) </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> </td> <td style="vertical-align: bottom;text-align:right;width:8.8%;">(2</td> <td style="white-space: nowrap; vertical-align: bottom;width:1.1%;">) </td> </tr> <tr> <td style="vertical-align: top; width: 72%;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; line-height: normal;">Other income, net</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> </td> <td style="text-align: right; vertical-align: bottom;width:5.9%;">116</td> <td style="vertical-align: bottom; white-space: nowrap;width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom; white-space: nowrap;width:0.9%;"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap;width:8.8%;">— </td> <td style="vertical-align: bottom; white-space: nowrap;width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom; white-space: nowrap;width:0.9%;"> </td> <td style="text-align: right; vertical-align: bottom; white-space: nowrap;width:8.8%;">— </td> <td style="vertical-align: bottom; white-space: nowrap;width:1.1%;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 72%; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Share of results of subsidiaries</div> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:0.9%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;width:5.9%;">(96,726</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);width:1.1%;">)</td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:0.9%;"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);text-align:right;width:8.8%;">(133,515</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);width:1.1%;">) </td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:0.9%;"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);text-align:right;width:8.8%;">(326,437</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);width:1.1%;">) </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 72%; background-color: rgba(255, 255, 255, 0);"></td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:0.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:5.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:0.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:8.8%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:0.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:8.8%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);width:1.1%;"> </td> </tr> <tr style="break-inside: avoid; font-family: "Times New Roman"; font-size: 10pt;"> <td style="vertical-align: top; width: 72%; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Total <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">non-operating</div> expenses</div> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:0.9%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;width:5.9%;">(96,607</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:1.1%;">)</td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:0.9%;"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);text-align:right;width:8.8%;">(133,517</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:1.1%;">) </td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:0.9%;"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgba(255, 255, 255, 0);text-align:right;width:8.8%;">(326,439</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:1.1%;">) </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 72%; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:0.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:5.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:0.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:8.8%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:0.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:8.8%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);width:1.1%;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 72%; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Loss before income tax</div> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:0.9%;"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;width:5.9%;">(96,726</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);width:1.1%;">)</td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:0.9%;"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);text-align:right;width:8.8%;">(133,517</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);width:1.1%;">) </td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:0.9%;"> </td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);text-align:right;width:8.8%;">(326,451</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);width:1.1%;">) </td> </tr> <tr style="break-inside: avoid; font-family: "Times New Roman"; font-size: 10pt;"> <td style="vertical-align: top; width: 72%; background-color: rgba(255, 255, 255, 0);"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Income tax expense</div> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:0.9%;"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0); padding: 0pt 5pt 0pt 0pt;text-align:right;width:5.9%;">—</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:0.9%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;width:8.8%;">— </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:0.9%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);text-align:right;width:8.8%;">— </td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:1.1%;"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 72%; background-color: rgb(204, 238, 255);"></td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:0.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:5.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:0.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:8.8%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:0.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:8.8%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgb(204, 238, 255);width:1.1%;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 72%; background-color: rgb(204, 238, 255);"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Net loss</div> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:0.9%;">$<div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);text-align:right;width:5.9%;">(96,726</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);width:1.1%;">)</td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:0.9%;">$</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);text-align:right;width:8.8%;">(133,517</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);width:1.1%;">)<div style="letter-spacing: 0px; top: 0px;display:inline;"> </div> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgb(204, 238, 255);"> </td> <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);width:0.9%;">$</td> <td style="vertical-align: bottom; white-space: nowrap; background-color: rgb(204, 238, 255);text-align:right;width:8.8%;">(326,451</td> <td style="white-space: nowrap; vertical-align: bottom; background-color: rgb(204, 238, 255);width:1.1%;">) </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 72%; background-color: rgba(255, 255, 255, 0);"></td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:0.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:5.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:0.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:8.8%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%; background-color: rgba(255, 255, 255, 0);"> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:0.9%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; background-color: rgba(255, 255, 255, 0);width:8.8%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="background-color: rgba(255, 255, 255, 0);width:1.1%;"> </td> </tr> </table> <div style="text-align: center; font-family: Times New Roman; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"></div> <div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"> </div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center"> </div><div style="text-align: center; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">STUDIO CITY INTERNATIONAL HOLDINGS LIMITED </div></div></div></div> <div style="text-align: center; font-family: "Times New Roman"; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 </div></div></div></div> <div style="text-align: center; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">FINANCIAL INFORMATION OF PARENT COMPANY </div></div></div></div> <div style="text-align: center; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">CONDENSED STATEMENTS OF COMPREHENSIVE LOSS </div></div></div></div> <div style="text-align: center; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(In thousands) </div></div></div></div> <div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div><br/></div> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> <table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; border: 0px currentColor; border-image: none; width: 100%; font-size: 10pt; border-collapse: collapse;text-indent: 0px;"> <tr style="color: white; line-height: 0pt; visibility: hidden;"> <td style="width: 62%;"><div style="display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="display:inline;"></div></td> <td><div style="display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="display:inline;"> </div></td> <td><div style="display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="display:inline;"></div></td> <td><div style="display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="display:inline;"> </div></td> <td><div style="display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="display:inline;"></div></td> <td><div style="display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="display:inline;"> </div></td> <td><div style="display:inline;"></div></td> </tr> <tr style="font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td colspan="10" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">Year Ended December 31,</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> </tr> <tr style="font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2024</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2023</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2022</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> </tr> <tr style="color: white; line-height: 0pt; visibility: hidden;"> <td style="width: 62%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 3%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr> <tr style="break-inside: avoid; font-size: 10pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: top; width: 62%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; line-height: normal;">Net loss</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;width:0.9%;">$</td> <td style="white-space: nowrap; vertical-align: bottom;text-align:right;width:5.7%;">(96,726)</td> <td style="white-space: nowrap; vertical-align: bottom; padding: 0px;width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;width:0.9%;">$</td> <td style="white-space: nowrap; vertical-align: bottom;text-align:right;width:9.2%;">(133,517)</td> <td style="white-space: nowrap; vertical-align: bottom;width:0.4%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;width:0.9%;">$</td> <td style="white-space: nowrap; vertical-align: bottom;text-align:right;width:9.2%;">(326,451)</td> <td style="white-space: nowrap; vertical-align: bottom;width:0.4%;"> </td> </tr> <tr style="break-inside: avoid; font-size: 10pt;"> <td style="vertical-align: top; width: 62%;"> <div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Other comprehensive income (loss):</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"></td> <td style="vertical-align: bottom;width:5.7%;"></td> <td style="vertical-align: bottom;width:1.1%;"></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"></td> <td style="vertical-align: bottom;width:9.2%;"></td> <td style="vertical-align: bottom;width:0.4%;"></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"></td> <td style="vertical-align: bottom;width:9.2%;"></td> <td style="vertical-align: bottom;width:0.4%;"></td> </tr> <tr style="break-inside: avoid; font-size: 10pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: top; width: 62%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; line-height: normal;">Foreign currency translation adjustments</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;width:0.9%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;text-align:right;width:5.7%;">21,357</td> <td style="white-space: nowrap; vertical-align: bottom;width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;width:0.9%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;text-align:right;width:9.2%;">(985)</td> <td style="white-space: nowrap; vertical-align: bottom;width:0.4%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;width:0.9%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;text-align:right;width:9.2%;">(5,535)</td> <td style="white-space: nowrap; vertical-align: bottom;width:0.4%;"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 62%;"></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> <div style="border-top: 1px solid rgb(0, 0, 0); line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div> </td> <td style="vertical-align: bottom;width:5.7%;"> <div style="border-top: 1px solid rgb(0, 0, 0); line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div> </td> <td style="width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> <div style="border-top: 1px solid rgb(0, 0, 0); line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div> </td> <td style="vertical-align: bottom;width:9.2%;"> <div style="border-top: 1px solid rgb(0, 0, 0); line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div> </td> <td style="width:0.4%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> <div style="border-top: 1px solid rgb(0, 0, 0); line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div> </td> <td style="vertical-align: bottom;width:9.2%;"> <div style="border-top: 1px solid rgb(0, 0, 0); line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div> </td> <td style="width:0.4%;"> </td> </tr> <tr style="break-inside: avoid; font-size: 10pt;"> <td style="vertical-align: top; width: 62%;"> <div style="text-indent: -1em; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;">Other comprehensive income (loss)</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;width:0.9%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;text-align:right;width:5.7%;">21,357</td> <td style="white-space: nowrap; vertical-align: bottom;width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;width:0.9%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;text-align:right;width:9.2%;">(985)</td> <td style="white-space: nowrap; vertical-align: bottom;width:0.4%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;width:0.9%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;text-align:right;width:9.2%;">(5,535)</td> <td style="white-space: nowrap; vertical-align: bottom;width:0.4%;"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 62%;"></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> <div style="border-top: 1px solid rgb(0, 0, 0); line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div> </td> <td style="vertical-align: bottom;width:5.7%;"> <div style="border-top: 1px solid rgb(0, 0, 0); line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div> </td> <td style="width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> <div style="border-top: 1px solid rgb(0, 0, 0); line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div> </td> <td style="vertical-align: bottom;width:9.2%;"> <div style="border-top: 1px solid rgb(0, 0, 0); line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div> </td> <td style="width:0.4%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> <div style="border-top: 1px solid rgb(0, 0, 0); line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div> </td> <td style="vertical-align: bottom;width:9.2%;"> <div style="border-top: 1px solid rgb(0, 0, 0); line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div> </td> <td style="width:0.4%;"> </td> </tr> <tr style="break-inside: avoid; font-size: 10pt; background-color: rgb(204, 238, 255);"> <td style="vertical-align: top; width: 62%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; line-height: normal;">Total comprehensive loss</div> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;width:0.9%;">$</td> <td style="white-space: nowrap; vertical-align: bottom;text-align:right;width:5.7%;">(75,369</td> <td style="white-space: nowrap; vertical-align: bottom; padding: 0px;width:1.1%;">)</td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;width:0.9%;">$</td> <td style="white-space: nowrap; vertical-align: bottom;text-align:right;width:9.2%;">(134,502)</td> <td style="white-space: nowrap; vertical-align: bottom; padding: 0px;width:0.4%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="white-space: nowrap; vertical-align: bottom;width:0.9%;">$</td> <td style="white-space: nowrap; vertical-align: bottom;text-align:right;width:9.2%;">(331,986)</td> <td style="white-space: nowrap; vertical-align: bottom; padding: 0px;width:0.4%;"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 62%;"></td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> <div style="border-top: 3px double rgb(0, 0, 0); line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div> </td> <td style="vertical-align: bottom;width:5.7%;"> <div style="border-top: 3px double rgb(0, 0, 0); line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div> </td> <td style="width:1.1%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> <div style="border-top: 3px double rgb(0, 0, 0); line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div> </td> <td style="vertical-align: bottom;width:9.2%;"> <div style="border-top: 3px double rgb(0, 0, 0); line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div> </td> <td style="width:0.4%;"> </td> <td style="vertical-align: bottom; width: 3%;"> </td> <td style="vertical-align: bottom;width:0.9%;"> <div style="border-top: 3px double rgb(0, 0, 0); line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div> </td> <td style="vertical-align: bottom;width:9.2%;"> <div style="border-top: 3px double rgb(0, 0, 0); line-height: normal; margin-bottom: 0px; margin-top: 0px;"> </div> </td> <td style="width:0.4%;"> </td> </tr> </table> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> <div style="margin-top: 0px; margin-bottom: 0px; font-size: 8pt;"> </div> <div style="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman;text-align:center"> </div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;"></div></div></div> <div style="text-align: center; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">STUDIO CITY INTERNATIONAL HOLDINGS LIMITED </div></div></div></div> <div style="text-align: center; font-family: "Times New Roman"; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 </div></div></div></div> <div style="text-align: center; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">FINANCIAL INFORMATION OF PARENT COMPANY </div></div></div></div> <div style="text-align: center; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">CONDENSED STATEMENTS OF CASH FLOWS </div></div></div></div> <div style="text-align: center; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-weight:bold;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">(In thousands) </div></div></div></div> <div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;text-indent: 0px;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-size: 12pt; letter-spacing: 0px; top: 0px;display:inline;"> </div></div></div> <div style="clear:both;max-height:0pt;text-indent: 0px;"></div> <div style="text-align: center;"></div> <table cellpadding="0" cellspacing="0" style="text-align:start; margin: 0px auto; border: 0px currentColor; border-image: none; width: 100%; font-size: 10pt; border-collapse: collapse;text-indent: 0px;"> <tr style="color: white; line-height: 0pt; visibility: hidden;"> <td style="width: 62%;"><div style="display:inline;"></div></td> <td style="width: 2%; vertical-align: bottom;"><div style="display:inline;"></div></td> <td><div style="display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="display:inline;"> </div></td> <td><div style="display:inline;"></div></td> <td style="width: 2%; vertical-align: bottom;"><div style="display:inline;"></div></td> <td><div style="display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="display:inline;"> </div></td> <td><div style="display:inline;"></div></td> <td style="width: 2%; vertical-align: bottom;"><div style="display:inline;"></div></td> <td><div style="display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="display:inline;"> </div></td> <td><div style="display:inline;"></div></td> </tr> <tr style="font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td colspan="10" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">Year Ended December 31,</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> </tr> <tr style="font-size: 10pt; page-break-inside: avoid;"> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2024</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2023</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> <td colspan="2" style="text-align: center; vertical-align: bottom; border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid; white-space: nowrap;"><div style="display:inline;"><div style="font-family: "Times New Roman"; letter-spacing: 0px; top: 0px;display:inline;">2022</div></div></td> <td style="vertical-align: bottom; padding-bottom: 0.5pt;"><div style="display:inline;"> </div></td> </tr> <tr style="color: white; line-height: 0pt; visibility: hidden;"> <td style="width: 62%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;">$</div></td> <td style="white-space: nowrap;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr> <tr> <td style="width: 62%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 0%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 0%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 0%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 0%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 0%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 0%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 2%; vertical-align: bottom;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 0%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 0%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="width: 0%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr> <tr style="font-family: Times New Roman; font-size: 10pt; page-break-inside: avoid; background-color: rgb(204, 238, 255);"> <td style="vertical-align: top; width: 62%;"> <div style="text-indent: -1em; font-family: "Times New Roman"; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="font-family: "Times New Roman"; font-size: 10pt; letter-spacing: 0px; top: 0px;display:inline;">Cash flows from operating activities:</div></div></div> </td> <td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 0%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom; width: 0%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom; width: 0%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 0%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom; width: 0%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom; width: 0%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div></td> <td style="vertical-align: bottom; width: 0%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom; width: 0%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> <td style="vertical-align: bottom; width: 0%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"></div></td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 62%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Net cash provided by operating activities</div> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;">$</td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">— </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;">$</td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">1</td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;">$</td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">830</td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 62%;"></td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width: 0%;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 62%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Cash flow from an investing activity:</div> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"></td> <td style="vertical-align: bottom; width: 0%;"></td> <td style="vertical-align: bottom; width: 0%;"></td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"></td> <td style="vertical-align: bottom; width: 0%;"></td> <td style="vertical-align: bottom; width: 0%;"></td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"></td> <td style="vertical-align: bottom; width: 0%;"></td> <td style="vertical-align: bottom; width: 0%;"></td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 62%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Capital contribution to a subsidiary</div> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">— </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">— </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">(300,000</td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;">)</td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 62%;"></td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width: 0%;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 62%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Cash used in an investing activity</div> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">— </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">— </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">(300,000</td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;">) </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 62%;"></td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width: 0%;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 62%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Cash flow from a financing activity:</div> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"></td> <td style="vertical-align: bottom; width: 0%;"></td> <td style="vertical-align: bottom; width: 0%;"></td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"></td> <td style="vertical-align: bottom; width: 0%;"></td> <td style="vertical-align: bottom; width: 0%;"></td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"></td> <td style="vertical-align: bottom; width: 0%;"></td> <td style="vertical-align: bottom; width: 0%;"></td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 62%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 2em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Net proceeds from issuance of shares</div> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">— </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">— </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">299,159</td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 62%;"></td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width: 0%;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 62%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Cash provided by a financing activity</div> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">— </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">— </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">299,159</td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 62%;"></td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width: 0%;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 62%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Increase (decrease) in cash and cash equivalents</div> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">— </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">1</td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">(11</td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;">) </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt"> <td style="vertical-align: top; width: 62%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Cash and cash equivalents at beginning of year</div> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%; padding: 0px;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;"> 28</td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">27</td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">38</td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 62%;"></td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 1px solid rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width: 0%;"> </td> </tr> <tr style="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt;background-color:#cceeff"> <td style="vertical-align: top; width: 62%;"> <div style="margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; text-indent: -1em; font-size: 10pt; font-family: "Times New Roman"; line-height: normal;">Cash and cash equivalents at end of year</div> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;">$</td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">28</td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;">$</td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;"> 28</td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"><div style="letter-spacing: 0px; top: 0px;display:inline;"> </div><div style="letter-spacing: 0px; top: 0px;display:inline;"><div style="display:inline;"> </div><div style="display:inline;"> </div><div style="display:inline;"> </div></div> </td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;">$</td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;text-align:right;">27</td> <td style="white-space: nowrap; vertical-align: bottom; width: 0%;"> </td> </tr> <tr style="font-size:1px"> <td style="vertical-align: bottom; width: 62%;"></td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="width: 0%;"> </td> <td style="vertical-align: bottom; width: 2%;"> </td> <td style="vertical-align: bottom; width: 0%;"> <div style="margin-top: 0px; margin-bottom: 0px; border-top: 3px double rgb(0, 0, 0); line-height: normal;"> </div> </td> <td style="vertical-align: bottom; 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21357000

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<div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: center;"><div style="font-weight:bold;display:inline;">STUDIO CITY INTERNATIONAL HOLDINGS LIMITED </div></div><div style="margin-top: 12pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: center;"><div style="font-weight:bold;display:inline;">ADDITIONAL INFORMATION - FINANCIAL STATEMENT SCHEDULE 1 </div></div><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: center;"><div style="font-weight:bold;display:inline;">FINANCIAL INFORMATION OF PARENT COMPANY </div></div><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: center;"><div style="font-weight:bold;display:inline;">NOTES TO CONDENSED FINANCIAL STATEMENT SCHEDULE 1 </div></div><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: center;"><div style="font-weight:bold;display:inline;">(In thousands) </div></div><div style="font-size:6pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left;">1.</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">Schedule 1 has been provided pursuant to the requirements of Rule <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">12-04(a)</div> and <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">4-08(e)(3)</div> of Regulation <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">S-X,</div> which require condensed financial information as to financial position, cash flows and results and operations of a parent company as of the same dates and for the same periods for which audited consolidated financial statements have been presented when the restricted net assets of the consolidated and unconsolidated subsidiaries together exceed <div style="letter-spacing: 0px; top: 0px;display:inline;">25</div> percent of consolidated net assets as of the end of the most recently completed fiscal year. As of December 31, 2024, approximately $<div style="letter-spacing: 0px; top: 0px;display:inline;">657,000</div> of the restricted net assets were not available for distribution and, as such, the condensed financial information of SCIH has been presented for the years ended December 31, 2024, 2023 and 2022. SCIH did not receive any cash dividend from its subsidiary during the years ended December 31, 2024, 2023 and 2022. </div></td></tr></table><div style="font-size:18pt;margin-top:0pt;margin-bottom:0pt"> </div> <table cellpadding="0" cellspacing="0" style="text-align:start; BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt;border:0;width:100%"> <tr style="page-break-inside:avoid"> <td style="width:4%;vertical-align:top;text-align:left;">2.</td> <td style="vertical-align:top;text-align:left;"><div style="margin-top: 0pt; margin-bottom: 0pt; font-size: 10pt; font-family: "Times New Roman"; text-align: left; line-height: normal;">Basis of Presentation </div></td></tr></table><div style="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The accompanying condensed financial information has been prepared using the same accounting policies as set out in SCIH’s consolidated financial statements except that the parent company has used the equity method to account for its investments in subsidiaries. </div>

0.25 657000000 0 0 0 As of December 31, 2024 and 2023, the unamortized deferred financing costs related to the SCC 2016 Revolving Facility of $0 and $278 are included in long-term prepayments, deposits and other assets in the accompanying consolidated balance sheets, respectively. As of December 31, 2024, the unamortized deferred financing costs related to the SCC 2024 Revolving Facilities of $0 is included in long-term prepayments, deposits and other assets in the accompanying consolidated balance sheets. “Other segment items” mainly include cost of inventories, advertising and promotions expenses, repair and maintenance expenses, utilities and fuel expenses, corporate and other non-gaming services recharged from Melco’s subsidiaries, pre-opening costs, property charges and other, interest income, net foreign exchange (losses) gains, (loss) gain on extinguishment of debt and income tax (expense) benefit. "Employee benefits expenses” includes salaries, bonuses and incentives, benefits and allocated labor costs for non-gaming operations from Melco’s subsidiaries. Certain amounts of “Employee benefits expenses” are included in “Other segments items” as pre-opening costs, share-based compensation and property charges and other; and with certain amounts incurred during the construction and development stage of Studio City capitalized in property and equipment