Melco increases profits by 154.1 pct

The casino company experienced a great performance during the first half of the year.

Macau.- Melco International Development has announced its financial results for the first six months of 2018, a period in which the company posted a 154.1% increase in profits. The growth was driven by a better group-wide gaming performance, among other things.

During a filing from the company to the Hong Kong Stock Exchange it was revealed that profit before tax reached the €120.3 million mark, considerably up from the €43.7 registered during the same period a year before. Revenue reached €2.1, which represents a 1.6% decrease year-on-year, while adjusted EBITDA increased 16.7% to €601 million.

The casino company also discussed future plans, and its group chairman and CEO Lawrence Ho said: “Our long-term growth strategy for Macau remains to focus on the premium-mass and mass segments, which we believe will drive sustainable growth and profit for our industry. We will continue to invest in balancing our exposure to both VIP and mass gaming patrons and to further grow a diversified portfolio to attract the broader tourism market through our world-class non-gaming entertainment and leisure offers.”