{"id":777018140,"date":"2024-08-14T09:44:31","date_gmt":"2024-08-14T12:44:31","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777018140"},"modified":"2026-04-22T07:10:43","modified_gmt":"2026-04-22T10:10:43","slug":"melco-resorts-posts-revenue-of-us1-16bn-for-q2","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/melco-resorts-posts-revenue-of-us1-16bn-for-q2","title":{"rendered":"Melco Resorts posts revenue of US$1.16bn for Q2"},"content":{"rendered":"\n<p>Operating revenue rose mainly due to improved performance in the mass market segment and non-gaming operations.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.-\u00a0<strong>Melco Resorts &amp; Entertainment Limited\u00a0<\/strong>has reported\u00a0<strong>operating revenue of US$1.16bn<\/strong>\u00a0for the second quarter of the year,\u00a0up 22 per cent\u00a0in <a href=\"https:\/\/focusgn.com\/asia-pacific\/melco-resorts-posts-revenue-of-us947-9m-for-q2\" target=\"_blank\" rel=\"noreferrer noopener\">year-on-year terms<\/a>. The increase was attributed to improved performance in the mass market segment and non-gaming operations driven by the recovery in inbound tourism to Macau.<\/p>\n\n\n\n<p>The company reported <strong>operating income of US$123.7m<\/strong>, compared to US$64.3m in the second quarter of 2023. The group\u2019s adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA) was US$302.8m compared with US$267.3m in 2023.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">City of Dreams Macau results<\/h2>\n\n\n\n<p>City of Dreams Macau reported<strong> operating revenue of US$576.4m<\/strong> for the second quarter, up from US$506.2m in the same period in 2023.\u00a0EBITDA was US$165.1m compared with US$161.2m.<\/p>\n\n\n\n<p>Rolling chip volume was US$4.83bn, and the rolling chip win rate was 2.99 per cent. The mass market table games drop was US$1.46bn and the hold percentage was 32.3 per cent. The gaming machine handle was US$902.3m and the win rate 3.1 per cent. Nn-gaming revenue was US$80.4m (US$68.9m in the second quarter of 2023).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Altira Macau results<\/h2>\n\n\n\n<p>Altira Macau\u2019s operating revenue was US$29.3.\u00a0The venue generated negative adjusted EBITDA of US$2m, compared with positive US$4.3m in the second quarter of 2023.<\/p>\n\n\n\n<p>The mass market table games drop was US$134.4m and the hold percentage 20.6 per cent. The gaming machine handle was US$132.1m and the win rate 2.6 per cent. Non-gaming revenue was US$4.9m.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Studio City results<\/h2>\n\n\n\n<p>Studio City posted\u00a0<strong>operating revenue of US$352.3m<\/strong>\u00a0and adjusted EBITDA of US$79.2m, compared with adjusted EBITDA of US$41.1m in the second quarter of 2023.\u00a0The company attributed the year-over-year increase to a better performance in all gaming segments and non-gaming operations.<\/p>\n\n\n\n<p><strong>Rolling chip volume was US$813m\u00a0<\/strong>and the win rate 2.97 per cent. The Mass market table games\u00a0drop was US$955.6m and the hold percentage 30.1 per cent.\u00a0The gaming machine handle was US$842.4m, compared to US$595.4m in the second quarter of 2023. Non-gaming revenue was US$80.4m, compared to US$74.3m in the second quarter of 2023.<\/p>\n\n\n\n<p><strong>Lawrence Ho, group chairman and CEO<\/strong>, said: &#8220;Our strategic initiatives to expand revenue and profitability, and drive growth continued to evolve in the second quarter of 2024. We are investing in people and incorporating enhancements to our properties to provide the best premium experience available in Macau to our patrons. We\u2019ve seen growth in GGR quarter-to-quarter and year-over-year, and our teams are focused on driving continued expansion of our market position.&#8221;<\/p>\n\n\n\n<p><strong>See also:<\/strong> <a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/jp-morgan-lowers-estimates-for-melco-property-level-ebitda\" rel=\"noreferrer noopener\">JP Morgan lowers estimates for Melco property-level EBITDA<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Operating revenue rose mainly due to improved performance in the mass market segment and non-gaming operations.<\/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":"Melco Resorts & Entertainment Limited reported a 22% year-on-year increase in Q2 operating revenue to US$1.16bn, driven by robust mass market performance and non-gaming operations, particularly in Macau. The group's adjusted property EBITDA reached US$302.8m, with strong contributions from City of Dreams Macau and Studio City, despite Altira Macau posting negative EBITDA. CEO Lawrence Ho emphasized strategic investments in premium experiences and continued market position expansion.","focusai_entities":"Melco Resorts & Entertainment Limited, Lawrence Ho, JP Morgan, City of Dreams Macau, Altira Macau, Studio City","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), operator_casino (0.9), investor_analyst (0.98), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Mass Market Sustainability?","query":"What specific strategic initiatives are Melco implementing to sustain the growth trajectory in the mass market segment, particularly given the competitive landscape in Macau?"},{"label":"Non-Gaming Revenue Diversification?","query":"Beyond inbound tourism recovery, what are Melco's long-term strategies for diversifying and expanding non-gaming revenue streams to mitigate reliance on gaming verticals?"}],"footnotes":""},"categories":[163,16333],"tags":[23970],"class_list":["post-777018140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-melco-resorts-entertainment"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018140","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=777018140"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018140\/revisions"}],"predecessor-version":[{"id":777018155,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777018140\/revisions\/777018155"}],"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=777018140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777018140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777018140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}