Q2 EBITDA is expected to have been US$313m.<\/p>\n\n\n\n\n\n\n\n
Macau.- JP Morgan Securities<\/strong> has revised its projection for Q2 property-level earnings before interest, taxation, depreciation, and amortization (EBITDA) for Melco Resorts & Entertainment<\/strong> to US$313m. That’s a decrease from its previous estimate of US$336m. Analysts expect US$260m to be generated by the casino firm\u2019s operations in Macau.<\/p>\n\n\n\n Analysts Joseph Greff<\/strong>, Ryan Lambert<\/strong> and Samuel Nielsen <\/strong>said that while Melco is likely to have experienced growth in its gross gaming revenue (GGR) market share from 14 per cent in the previous quarter to 15 per cent, this is lower than they expected. They associated this with increased premium mass promotional activity, resulting in lower net revenue conversion and weaker EBITDA.<\/p>\n\n\n\n For the full year 2024, JP Morgan now projects group-wide property EBITDA of US$1.29bn, down 5.1 per cent from its previous estimate. For Melco Resorts\u2019 operations in Macau, JP Morgan anticipates US$1.08bn, down 3 per cent from its earlier prediction. For next year, it forecasts group-wide property EBITDA of US$1.36bn next year, down 4.9 per cent from its previous estimate, and Macau property-level EBITDA of US$1.14bn, down 4.5 per cent.<\/p>\n\n\n\n In Macau, Melco Resorts operates City of Dreams, Studio City, and Altira as well as slot halls under the Mocha Club brand. The company also has a property in the Philippine capital Manila<\/a> and gaming venues on the Mediterranean island of Cyprus. The group has announced an investment in a casino resort in Colombo<\/a>, the Sri Lankan capital, with gaming operations set to begin in mid-2025. It reported operating revenue of US$1.11bn<\/strong>\u00a0for Q1,\u00a0up 55 per cent\u00a0in year-on-year terms<\/a>. EBITDA was US$298.8m compared with US$190.8m in Q1 2023.<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Q2 EBITDA is expected to have been US$313m.<\/p>\n","protected":false},"author":176,"featured_media":19449,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"JP Morgan Securities has revised down its Q2 2024 and full-year EBITDA projections for Melco Resorts & Entertainment, attributing the adjustment to increased premium mass promotional activity in Macau impacting net revenue conversion despite GGR market share growth. The updated forecasts reflect a more conservative outlook for Melco's operational performance across its global assets, including its significant Macau presence and upcoming Sri Lankan venture.","focusai_entities":"Melco Resorts & Entertainment, JP Morgan Securities, Joseph Greff, Ryan Lambert, Samuel Nielsen, City of Dreams, Studio City, Altira, Mocha Club","focusai_location":"Macau, Manila, Cyprus, Colombo, Sri Lanka, Philippines","focusai_target_profile":"ceo_executive (0.95), regulator (0.75), operator_casino (0.98), marketing_crm (0.85), investor_analyst (1.0), supplier_vendor (0.78), journalist_researcher (0.97)","focusai_suggestions":[{"label":"Macau Premium Mass Impact","query":"What specific competitive dynamics in the Macau premium mass segment are driving the increased promotional intensity, and how might this impact the long-term profitability and market share equilibrium among key operators?"},{"label":"Global Portfolio Diversification","query":"How do the revised EBITDA projections for Melco's Macau operations influence the strategic importance and capital allocation towards its diversified portfolio, particularly the upcoming Sri Lankan integrated resort?"}],"footnotes":""},"categories":[16338,163],"tags":[23970],"class_list":["post-777017393","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\/777017393","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=777017393"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777017393\/revisions"}],"predecessor-version":[{"id":777017424,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777017393\/revisions\/777017424"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19449"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777017393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777017393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777017393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}