Melco announces 4Q19 results

Melco announces 4Q19 results

Melco Resorts has released its unaudited fourth quarter 2019 earnings and quarterly dividend.

Macau.- Melco Resorts & Entertainment Limited has reported its unaudited financial results for the fourth quarter and full-year ended December 31, 2019. Total operating revenues for the fourth quarter of 2019 were US$1.45 billion.

The US$1.45 billion represents a 3% increase from US$1.41 billion for the comparable period in 2018. The increase in total operating revenues was primarily attributable to better performance in the mass market table games segment.

Operating income for the fourth quarter of 2019 was US$173.4 million, compared with operating income of US$203.3 million in the fourth quarter of 2018, representing a decrease of 15%. Adjusted Property EBITDA was US$409.8 million for the fourth quarter of 2019 compared to Adjusted Property EBITDA of US$427.5 million in the fourth quarter of 2018, representing a decrease of 4%.

Full-year results

For the year ended December 31, 2019, Melco Resorts & Entertainment Limited reported total operating revenues of US$5.74 billion versus US$5.19 billion in the prior year. The increase in total operating revenues was primarily attributable to better performance in the mass market table games segment.

Operating income for 2019 was US$747.7 million, compared with operating income of US$613.4 million for 2018, representing an increase of 22%. Adjusted Property EBITDA for the year ended December 31, 2019 was US$1.69 billion compared to Adjusted Property EBITDA of US$1.49 billion in 2018. The year-over-year improvement in Adjusted Property EBITDA was mainly attributable to better performance in the mass market table games segment.

Lawrence Ho, our Chairman and Chief Executive Officer, commented: “We believe our focus on the Asian premium segment, a portfolio of high-quality assets, devotion to craftsmanship, dedication to world-class entertainment offerings, market-leading social safeguard systems, established track record of successful partnerships, culture of exceptional guest service, and commitment to employee development puts Melco in a strong position to help Yokohama realize the vision of developing a world-leading IR with a unique, Japanese touch.”

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