Melco’s 2025 profit rises on strong gaming volumes

Improved mass and VIP performance boosts revenues in Macau offset softer results in Manila.

Macau.- Melco Resorts & Entertainment has reported full-year net income attributable of US$185m, up from US$43.5m in 2024. Operating revenues rose to US$5.16bn, compared with US$4.64bn, while operating income increased to US$600.4m and adjusted property EBITDA to US$1.43bn, supported by higher gaming volumes, margin expansion and steady growth in non-gaming segments.

Macau remained the core earnings driver, with casino revenue climbing to US$4.25bn on the back of stronger visitation, longer stays and higher customer spending.

In the fourth quarter, operating revenues reached US$1.29bn, up around 9 per cent year-on-year, while net income totalled US$60.6m, compared to a US$20.3m loss in the same period of 2024. Casino revenues for the quarter were S$1.07bn, mainly driven by improved rolling chip and mass table turnover.

City of Dreams Macau continued to lead performance, posting higher gaming revenue and EBITDA growth. Outside Macau, results were mixed. City of Dreams Manila recorded softer figures amid competitive pressures and broader market headwinds, with quarterly revenue declining to US$100.2m and EBITDA to US$33.1m.

Chairman and CEO Lawrence Ho said 2025 was a year of “growth and recovery,” supported by disciplined cost management and margin expansion.

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See also: Macau 2025 GDP up 4.7% as gaming and tourism drive strong Q4 rebound

Improved mass and VIP performance boosts revenues in Macau offset softer results in Manila. Macau.- Melco Resorts & Entertainment has reported full-year net income attributable of US$185m, up from US$43.5m in 2024. Operating revenues rose to US$5.16bn, compared with US$4.64bn, while operating income increased to US$600.4m and adjusted property EBITDA to US$1.43bn, supported by higher…