Melco third quarter ends on a positive note

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 comparing 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 signaled 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.

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