written and last updated by
Sam Smith at
06 Nov 2024
Journalist, Editorial Department
Melco Resorts & Entertainment, based in Macau, has reported a total operating revenue of $1.18 billion (₽115.7 billion) for the three months ending September 30, 2024. This marks a 16% increase compared to the previous quarter.
The company noted improvements across all segments. For the quarter, gaming revenue rose by 16.3% to $944 million (₽92.55 billion), while revenue from other operations increased by 12.7%. Melco's net profit reached $13 million (₽1.27 billion), a significant turnaround from a net loss of $37 million (₽3.62 billion) during the same period in 2023.
"Our initiatives to enhance the attractions at our existing properties and draw in visitors are yielding positive results. We have launched an updated loyalty program and opened additional premium slot areas, the Signature Club at City of Dreams and Dragon Zone at Studio City, in partnership with Aristocrat Gaming. We plan to continue developing unique and exciting projects to support ongoing growth in Macau," said Lawrence Ho, Chairman and CEO of Melco.
City of Dreams Macau reported a gross gaming revenue (GGR) of $613 million (₽60.1 billion) for the third quarter of 2024, a 9% increase from the previous year. Mass table games generated $452 million (₽44.32 billion), the VIP segment contributed $131 million (₽12.84 billion), and slots brought in $30 million (₽2.94 billion). Adjusted EBITDA stood at $163 million (₽15.98 billion), up 6% year-on-year.
Studio City reported a 31% increase in gross gaming revenue to $335 million (₽32.84 billion). Both the VIP segment and slots contributed $28 million (₽2.74 billion) each, while mass table games dominated with revenue of $280 million (₽27.45 billion). Adjusted EBITDA rose by 18% compared to the previous quarter, reaching $93 million (₽9.11 billion).
In related news, Wynn Resorts has announced plans for the renovation and expansion of gaming areas and other projects in Macau.
