Melco Resorts has reported that operating revenue for the fourth quarter was up 224 per cent year-on-year.<\/p>\n\n\n\n\n\n\n\n
Macau.-\u00a0Melco Resorts & Entertainment Limited<\/a>\u00a0has reported operating revenue of US$1.09bn for Q4,\u00a0up 224 per cent in year-on-year terms. The increase was attributed to the\u00a0improved performance in all gaming segments and non-gaming operations\u00a0following the relaxation of Covid-19 countermeasures in Macau in January 2023 and\u00a0the opening of Studio City Phase II<\/a>.<\/p>\n\n\n\n The company reported an operating loss of US$94.4m, compared with an operating loss of US$199.5m in the fourth quarter of 2022. The group\u2019s adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA) was US$303.4m compared with negative US$6.8m.<\/p>\n\n\n\n Net loss attributable to Melco Resorts & Entertainment Limited was of US$156.6m. The net loss attributable to noncontrolling interests was US$20.8m, all related to Studio City, City of Dreams Manila and Cyprus Operations.<\/p>\n\n\n\n City of Dreams reported\u00a0operating revenue of US$559.8m<\/strong>\u00a0for the fourth quarter, up from US$139.2m in the same period in 2022.\u00a0EBITDA was US$166.2m.<\/p>\n\n\n\n Rolling chip volume was US$5.19bn compared to US$850.4m in the fourth quarter of 2022 while the rolling chip win rate was 2.55 per cent. The mass market table games drop was US$1.44bn, up from US$292.2m. The mass market table games hold percentage was 31.6 per cent.<\/p>\n\n\n\n The gaming machine handle was US$957.4m compared to US$194.7m in the previous year. The gaming machine win rate was 3.1 per cent. Non-gaming revenue was US$80.1m.<\/p>\n\n\n\n Altira Macau\u2019s operating revenue was US$33.6m, up from US$9m in the same period in 2022. EBITDA was US$0.3m, compared to negative adjusted EBITDA of US$9.5m due to better performance in the mass market segment and non-gaming operations.<\/p>\n\n\n\n In the mass market table games segment, the drop was US$149m. The hold percentage was 23.8 per cent.<\/p>\n\n\n\n The gaming machine handle for the fourth quarter of 2023 was US$87.8m and the win rate was 3.2 per cent. Non-gaming revenue was US$5.3m.<\/p>\n\n\n\n Studio City posted operating revenue of US$302.5m and adjusted EBITDA of US$77.3m, compared with a negative adjusted EBITDA of US$25.3m in the fourth quarter of 2022.\u00a0Rolling chip volume was US$556m\u00a0<\/strong>while the rolling chip win rate was 1.86 per cent versus 2.7 per cent in the fourth quarter of 2022.\u00a0<\/p>\n\n\n\n Mass-market tabletop games generated US$864.1m. The hold percentage was 30 per cent.\u00a0The gaming machine handle was US$778.3m, compared to US$124.5m in the fourth quarter of 2022. Non-gaming revenue was US$65.3m, compared to US$9.6m in the fourth quarter of 2022.<\/p>\n\n\n\n Lawrence Ho, group chairman and CEO<\/strong>, said: \u201cMacau continues to demonstrate its extraordinary growth potential and has shown resilience despite China\u2019s uncertain macro-economic outlook. Visitations to Macau during this month\u2019s Chinese New Year holiday period were close to 2019 levels and the number of visitors from China exceeded 2019.<\/p>\n\n\n\n \u201c2023 was a year of post-pandemic recovery and the debut of our new developments, including City of Dreams Mediterranean and Studio City Phase 2. 2024 is set to be another exciting year for us as we continue to develop new ideas and strategies to bring market leading leisure and entertainment offerings to our customers. <\/p>\n\n\n\n \u201cAs part of our initiatives to ensure Melco is leading the market in all areas of our business, we are making changes to management in Macau and bolstering the leadership team. We expect these changes will strengthen us as a team to secure a stronger and more competitive future.”<\/p>\n","protected":false},"excerpt":{"rendered":" Melco Resorts has reported that operating revenue for the fourth quarter was up 224 per cent year-on-year.<\/p>\n","protected":false},"author":176,"featured_media":25856,"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 Resorts & Entertainment reported a 224% year-on-year increase in Q4 operating revenue to US$1.09bn, driven by improved performance across all gaming and non-gaming segments in Macau following the relaxation of Covid-19 countermeasures and the opening of Studio City Phase II. The company significantly reduced its operating loss and achieved positive adjusted property EBITDA, with CEO Lawrence Ho highlighting Macau's extraordinary growth potential and strategic management changes for a more competitive future.","focusai_entities":"Melco Resorts & Entertainment Limited, Studio City Phase II, City of Dreams Macau, Altira Macau, Studio City, City of Dreams Manila, Cyprus Operations, City of Dreams Mediterranean, Lawrence Ho","focusai_location":"Macau, China, Cyprus","focusai_target_profile":"ceo_executive (1.0), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Macau Recovery Sustainability","query":"Given the significant year-on-year revenue growth and improved EBITDA, what specific operational efficiencies or market segment shifts are Melco implementing to ensure the sustainability of this recovery beyond the initial post-pandemic surge, especially considering China's uncertain macro-economic outlook?"},{"label":"Capital Allocation Strategy","query":"With the reported operating loss still at US$94.4m despite strong revenue growth, how does Melco plan to optimize its capital allocation and investment strategy for new developments like City of Dreams Mediterranean and Studio City Phase 2 to achieve net profitability and enhance shareholder value in the near to medium term?"}],"footnotes":""},"categories":[16338,163],"tags":[23970],"class_list":["post-777013620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-melco-resorts-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013620","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777013620"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013620\/revisions"}],"predecessor-version":[{"id":777013627,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013620\/revisions\/777013627"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25856"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777013620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777013620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777013620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}City of Dreams Macau fourth quarter results<\/h2>\n\n\n\n
Altira Macau posts total operating revenue of US$33.6m<\/h2>\n\n\n\n
Studio City posts adjusted EBITDA of US$77.3m for Q4<\/h2>\n\n\n\n