Gaming giant profits hit HK$1.8billion (\u20ac211million) off the back of a 10.5% jump in net revenues to HK$45billion (\u20ac5.2billion).<\/p>\n\n\n\n\n\n\n\n
Hong Kong.- Melco International Development<\/strong><\/em> has revealed a 10.5 per cent increase in profits to HK$1.8billion (\u20ac211million) for the full year 2019.<\/p>\n\n\n\n Net revenues grew at the same rate to HK$45billion (\u20ac5.2billion) while Adjusted EBITDA grew 15.1 per cent to HK$12.5billion (\u20ac1.4billion).<\/p>\n\n\n\n “In 2019, we took a big step forward in solidifying our position as a pioneer and innovator in premium travel, leisure and entertainment,” Lawrence Ho, Chairman and CEO of Melco International, said.<\/p>\n\n\n\n “In September last year, we announced our \u2018Yokohama First\u2019 policy as we get our Japan team to plan on bringing to Yokohama the best integrated resort the world has ever seen. In December, we submitted our integrated resort proposal to the Yokohama municipal government and we continue to actively engage with the Yokohama officials to illustrate our plans,” he added.<\/p>\n\n\n\n Regarding the Coronavirus crisis and the impact it was having on the industry, he said: <\/p>\n\n\n\n “2020 promises to be a very difficult year for global Integrated Resort operators. The recent Covid-19 outbreak, along with travel bans, visa restrictions and suspended flights, are poised to hit global tourism and impact the number of visitors to all our integrated resorts. <\/p>\n\n\n\n “However, we expect our commitment to developing world-class hospitality and entertainment facilities will put us in a good position to bring the best experience to our guests, and will see us through the challenging times in the near future.”<\/p>\n","protected":false},"excerpt":{"rendered":" Gaming giant profits hit HK$1.8billion (\u20ac211million) off the back of a 10.5% jump in net revenues to HK$45billion (\u20ac5.2billion).<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Melco International Development reported a 10.5% increase in 2019 net revenues to HK$45 billion and profits to HK$1.8 billion, alongside a 15.1% rise in Adjusted EBITDA. The company reaffirmed its 'Yokohama First' strategy for integrated resort development in Japan, while acknowledging the significant operational challenges and impact on global tourism posed by the emerging COVID-19 crisis for 2020.","focusai_entities":"Melco International Development, Lawrence Ho","focusai_location":"Hong Kong, Yokohama, Japan","focusai_target_profile":"ceo_executive (1.0), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Yokohama IR CapEx?","query":"Given the 'Yokohama First' policy, what is Melco's projected capital expenditure and timeline for the integrated resort development, and how will this impact their debt leverage?"},{"label":"COVID-19 Mitigation Strategy?","query":"What specific operational adjustments or contingency plans is Melco implementing to mitigate the projected revenue impact from the COVID-19 outbreak across its global integrated resort portfolio?"}],"footnotes":""},"categories":[160,16338,163],"tags":[1619,665],"class_list":["post-5140","post","type-post","status-publish","format-standard","hentry","category-asia-pacific","category-east-asia-news","category-finance-news","tag-hong-kong","tag-melco"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=5140"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5140\/revisions"}],"predecessor-version":[{"id":777018049,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/5140\/revisions\/777018049"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=5140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=5140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=5140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}