Cyprus Casinos registers revenue increase

Cyprus Casinos registers revenue increase

During the fourth quarter of 2019, Cyprus Casinos increased revenues by almost US$10 million.

Cyprus.- Melco Resorts & Entertainment has released its fourth-quarter financial results from its operations in Cyprus. The company is currently operating a temporary casino and three satellite casinos ahead of the launch of City of Dreams Mediterranean in 2021. It will also launch a fourth satellite casino before 2021.

For the quarter ended December 31, 2019, total operating revenues at Cyprus Casinos were US$24.7 million compared to US$15.6 million in the fourth quarter of 2018. Cyprus Casinos generated Adjusted EBITDA of US$8.6 million in the fourth quarter of 2019 compared with Adjusted EBITDA of US$2.3 million in the fourth quarter of 2018.

Rolling chip volume was US$22.8 million for the fourth quarter of 2019. The rolling chip win rate was 3.61% in the fourth quarter of 2019. The expected rolling chip win rate range is 2.85% – 3.15%.

Mass market table games drop was US$33.9 million in the fourth quarter of 2019 versus US$34.8 million in the fourth quarter of 2018. The mass-market table games hold percentage was 19.8% in the fourth quarter of 2019 compared to 16.2% in the fourth quarter of 2018.

Gaming machine handle for the fourth quarter of 2019 was US$349.5 million, compared with US$194.5 million in the fourth quarter of 2018. The gaming machine win rate was 4.9% in the fourth quarter of 2019 versus 5.2% in the fourth quarter of 2018.

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