Melco Int’l experiences revenue rise

melco philippines

Credits: Macau Daily Times

The Asian casino operator reported that during the first six months of 2017 it experienced an increase in revenues.

Macau.- Melco International Development revealed that revenue quadrupled in the first half of the year as Macau also experienced an improvement in its operations. The company revealed the news to the Hong Kong Stock Exchange on Thursday.

Revenue for the six months ending June 30 increased 262 percent to US$2.56 billion, whilst it also experienced a 298.5 percent increase in adjusted earnings to US$600 million. Nevertheless, profit fell down 98.4 percent to US$20 million. The operator said that the profit problem was due to a major one-off gain during the first half of 2016 from the disposal of interests in an associate, CavinAyre reported. Moreover, Melco increased its stake in Melco Crown Entertainment from 37.9 percent at the end of 2016 to 51.3 percent this year.

Back in July, one of the Melco operators revealed that its integrated resort project from Cyprus will feature 70,000 square feet of gaming space, as well as 6000 square foot of VIP “Casino in the Sky.” The upcoming casino will be the first to operate in the country.