Melco third quarter ends on a positive note

Melco has released its financial results for the third quarter of the year, showing a 16% increase compared to 2018.

Macau.- Total operating revenues of Melco Resorts & Entertainment Limited for the third quarter of 2019 were €1,3 billion; representing an increase of approximately 16% from €1,1 billion for the comparable period in 2018. Rolling chip and mass-market table games segments were presented as the most viable reasons for this increase in performance.

Moreover, the third quarter signalled the 16th consecutive quarter of positive year-over-year growth in mass-market table games for Melco Resorts.

Furthermore, operating income numbers were quite impressive recording a 104% increase – €157,1 million, compared with €77 million. Also, Adjusted Property EBITDA showed a relevant increase of 39% (€374,9 million).

“During the third quarter of 2019, all of Melco’s Macau IRs continued to deliver strong mass table games revenue growth; which drove group-wide Property EBITDA to expand approximately 39% year-over-year to €374,8 million. During the third quarter of 2019, Melco’s mass-market table games drop and gaming machine handle both reached all-time-record-highs” said Lawrence Ho, Chairman and CEO of the company.

Third quarter results at Melco’s Macau IRs

City of Dreams presented a total operating revenue of €705,8 million, an increase from €538,6 in 2018. At Altira Macau, total operating revenues were €102,1 million up from €80,9 million. Lastly, at Studio City, the total operating revenues registered €302,8 million compared to €309,5 million year-on-year; generating an Adjusted EBITDA of €95,4 million, an increase from €80,2 million.