The increase in operating revenue was driven by improved performance in all gaming and non-gaming operations.
Macau.- Melco Resorts & Entertainment Limited has reported operating revenue of US$1.19bn for Q4, up 9 per cent in year-on-year terms. The increase was attributed to the improved performance in all gaming segments and non-gaming operations.
The company reported operating income of US$97m, compared to an operating loss of US$94.4m in the fourth quarter of 2023. In quarter-on-quarter terms, the figure was down 42.89 per cent. The group’s adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA) was US$295.4m compared with US$303.4m in 2023. The net loss attributable to Melco Resorts & Entertainment Limited for the fourth quarter of 2024 was US$20.3m, compared with a net loss of US$205.9m in Q4 2023.
City of Dreams Macau fourth quarter results
City of Dreams reported operating revenue of US$591.1m for the fourth quarter, up from US$559.8m in the same period in 2023. EBITDA was US$140.1m, up from US$166.2m. The year-over-year decrease was attributed to higher operating costs, largely due to an increase in staffing levels.
Rolling chip volume was US$6.24bn compared to US$5.19m in the fourth quarter of 2023 while the rolling chip win rate was 2.35 per cent. The mass market table games drop was US$1.53bn, up from US$1.44bn. The mass market table games hold percentage was 32 per cent.
The gaming machine handle was US$1.03bn compared to US$0.96bn. The gaming machine win rate was 3.1 per cent. Non-gaming revenue was US$85.6m.
Altira Macau operating revenue reaches US$31.2m
Altira Macau’s operating revenue was US$31.2m, up from US$33.6m in the same period in 2023. The venue generated a negative Adjusted EBITDA of US$0.3m, compared with Adjusted EBITDA of US$0.3m in the fourth quarter of 2023. In the mass market table games segment, the drop was US$125.1m. The hold percentage was 22.7 per cent.
Studio City posts adjusted EBITDA of US$77.3m for Q4
Studio City posted operating revenue of US$342m. Adjusted EBITDA was US$81.2m, compared with Adjusted EBITDA of US$77.3m in the fourth quarter of 2023 after better performance in the mass market segment.
The company said Studio City has strategically repositioned itself to focus on the premium mass and mass segments. VIP rolling chip operations at Studio City were transferred to City of Dreams in late October 2024.
Rolling chip volume was US$165m while the rolling chip win rate was 3.48 per cent versus 1.86 per cent in the fourth quarter of 2023. Mass-market tabletop games generated US$891.7m. The hold percentage was 32.1 per cent. The gaming machine handle was US$888.9m, compared to US$778.3m in the fourth quarter of 2023. Non-gaming revenue was US$65.3m, compared to US$73.2m in the fourth quarter of 2023.
Full year results
For the year ended December 31, 2024, Melco Resorts & Entertainment Limited reported operating revenue of US$4.64bn, up 22.75 per cent year-on-year. The increase was attributed to the e continued recovery in inbound tourism to Macau and the ramp up of operations following the opening of Studio City Phase II and City of Dreams Mediterranean in mid-2023.
Operating income for 2024 was US$484.6m. That’s an increase of 645.5 per cent in year-on-year terms. Adjusted Property EBITDA was US$1.22bn, up 17.31 per cent year-on-year. Net income attributable to the company was US$43.5m, compared with net loss attributable of US$326.9m for 2023.
Lawrence Ho, group chairman and CEO, said: “2024 was a year of transition for us in Macau. We invested in our business to enhance the customer experience and to build a stronger foundation for growth. The contributions from these initiatives are now evident with market share in the fourth quarter of 2024 growing month-to-month and property visitation exceeding pre-pandemic levels. We are committed to continuing to deliver on our strategic objectives and expect to continue to unveil new and exciting projects to support the ongoing growth in Macau.”
The increase in operating revenue was driven by improved performance in all gaming and non-gaming operations. Macau.- Melco Resorts & Entertainment Limited has reported operating revenue of US$1.19bn for Q4, up 9…
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