Melco Resorts focuses on Japan
The company released its first quarter financial results and said that Japan is a “core focus” for Melco.
Japan.- Melco Resorts and Entertainment has announced its first-quarter results, which indicate that the company totalled €1.1 billion in operating revenues. This represents a 4% increase from last year. The company also discussed its expectations for the upcoming casino industry in Japan.
The increase in operating revenues is attributable to non-gaming revenue and better mass market table games income. Operating income for the quarter was €167.9 million, compared to €197 million in 2018, which represents a 15% decrease. EBITDA increased by 1% at €363.3 million.
Lawrence Ho, chairman and CEO, said: “It was a solid quarter despite volatility in the Macau VIP market. Our Altira Macau has achieved the Forbes Travel Guide five-star recognition. Nüwa Macau at City of Dreams is the first and only property in Asia to receive the five-star rating across its entire portfolio of hotel, spa and dining facilities.”
Furthermore, Ho discussed the importance of Japan for the group and said that it is a “core focus” for Melco. “We expect development of the next generation of IRs to soon commence in this exciting, yet currently underpenetrated, tourism destination.
“With our focus on the Asian premium segments, high quality assets, dedication to world-class entertainment offerings, market-leading social safeguards and compliance culture and our commitment to being an ideal partner to local governments and communities alike, we believe Melco is in a strong position to help Japan realise a vision for an integrated resort development with a unique Japanese touch.”
