Moody’s forecasts 4.5% revenue growth for Melco Resorts in 2026
The ratings agency expects Melco Resorts’ revenue to reach US$5.4bn this year.
Macau.- Moody’s Ratings expects Melco Resorts & Entertainment to record a 4.5 per cent year-on-year increase in revenue in 2026, reaching US$5.4bn. The ratings agency forecasts Macau’s industry-wide gross gaming revenue to grow 6 per cent this year, supported by continued growth in visitors from mainland China. It expects Melco to maintain a market share of around 15 per cent.
Melco’s adjusted EBITDA is projected to reach approximately US$1.3bn in 2026, up from US$1.25bn in 2025, before increasing to US$1.4bn in 2027. Moody’s expects the company’s adjusted EBITDA margin to improve modestly to between 24 per cent and 25 per cent, helped by operational efficiency initiatives.
The agency identified large-scale entertainment offerings, including residency shows, concerts and major sporting events, as key drivers of visitation and spending. New hotel offerings, including the progressive opening of REM Hotel at City of Dreams Macau, are also expected to support growth.
Moody’s forecasts that Melco’s revenue will rise a further 4 per cent in 2027 to US$5.6bn. The company’s adjusted debt-to-EBITDA ratio is expected to decline to around 5.5 times this year and 5 times in 2027.
Earlier this week, Melco Resorts Finance Limited, the financing subsidiary of casino operator Melco Resorts & Entertainment, will redeem its US$600m in 5.625 per cent senior notes due in 2027 on September 23. The company will pay 100 per cent of the notes’ principal amount, plus accrued and unpaid interest. Interest will stop accruing from the redemption date.
