Macau casinos: Melco Resorts posts revenue of US$1.18bn for Q3

The increase in total operating revenues was mainly attributed to the improved performance in all gaming segments and non-gaming operations.

Macau.- Melco Resorts & Entertainment Limited has reported operating revenue of US$1.18bn for the third quarter of the year. That’s an increase of 16 per cent in year-on-year terms and a rise of 1.72 per cent when compared to the US$1.16bn recorded in the second quarter of the year. The increase was attributed to the improved performance in all gaming segments and non-gaming operations, led by the continued recovery in inbound tourism to Macau during the third quarter of the year.

The company reported operating income of US$138.6m, compared to US$94.7m in the third quarter of 2023. In quarter-on-quarter terms, the figure was up 12.05 per cent. The group’s adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA) was US$322.5m compared with US$280.6m in 2023.

In the third quarter of the year, Melco Resorts & Entertainment recorded a net income of US$27.3m, or US$0.06 per American Depositary Share (ADS). That’s an improvement compared to a net loss of US$16.3m, or US$0.04 per ADS, in the third quarter of 2023.

See also: Melco Resorts aims to bring more Korean tourists to Macau

City of Dreams Macau results

City of Dreams Macau reported operating revenue of US$563m for the third quarter, up 2.38 per cent sequentially and up 10.9 per cent from US$506.2m in the same period in 2023. EBITDA was US$162.8m compared with US$153.9m. According to the company, the year-on-year increase in Adjusted EBITDA was primarily a result of better performance in all gaming segments.

Rolling chip volume was US$3.30n, and the rolling chip win rate was 3.97 per cent. The mass market table games drop was US$1.46bn and the expected rolling chip win rate range was 2.85 per cent-3.15 per cent. The gaming machine handle was US$902.3m and the win rate 3.1 per cent. Nn-gaming revenue was US$78.7m, down 2.16 per cent sequentially but up 6.79 in year-on-year terms.

Altira Macau results

Altira Macau’s operating revenue was US$30.5. That’s an increase of 4.09 per cent in quarter-on-quarter terms and 26.03 per cent compared with US$24.2m in the third quarter of 2023. The venue generated negative adjusted EBITDA of US$1.1m, compared with negative US$3.8m in the third quarter of 2023.

The mass market table games drop was US$135.5m versus US$140.0m a year before. The mass market table games hold percentage was 21.7 per cent. The gaming machine handle was US$148.0m and the gaming machine win rate was 1.8 per cent. Non-gaming revenue was US$5.4m, compared with US$5.3m in the third quarter of 2023.

Mocha and other third quarter results

Revenues from Mocha clubs in Macau and other were US$30.6m, up 1.66 per cent year-on-year. Mocha and Other generated Adjusted EBITDA of US$6.9m in both the third quarters of 2024 and 2023.

The mass market table games drop was US$57.2m. The mass market table games hold percentage was 16.6 per cent. The gaming machine handle was US$519.1m, compared with US$515.8m in the third quarter of 2023. The gaming machine win rate was 4.3 per cent.

Studio City results

Studio City posted operating revenue of US$352.3m, up 3.52 per cent sequentially and 26.87 per cent compared to the third quarter of 2023. Studio City generated adjusted EBITDA of US$92.8m, compared with adjusted EBITDA of US$67.7m in the third quarter of 2023. The company attributed the year-over-year increase to a better performance in all gaming segments and non-gaming operations.

Rolling chip volume was US$494.8m and the win rate 5.57 per cent. The Mass market table games drop was US$912.9m and the hold percentage 30.7 per cent. The gaming machine handle was US$853m, compared to US$673.9m in the third quarter of 2023. The gaming machine win rate was 3.3 per cent. Non-gaming revenue was US$89.3m, compared with US$79.0m in the third quarter of 2023.

Lawrence Ho, group chairman and CEO, said: “Our initiatives to activate areas throughout our properties and drive visitation are coming together. We launched a revamped loyalty program, opened a new Signature Club premium slot area at City of Dreams, and a highly themed slot area called the Dragon Zone at Studio City, in partnership with Aristocrat Gaming. We are enhancing accessibility into City of Dreams with a new light tunnel entrance which is complemented by live performances. We expect to continue to unveil new and exciting projects to support the ongoing growth in Macau.”

The increase in total operating revenues was mainly attributed to the improved performance in all gaming segments and non-gaming operations. Macau.- Melco Resorts & Entertainment Limited has reported operating revenue of US$1.18bn…