Melco Resorts & Entertainment reported a 16% gain in the July-September 2019 period helped by a strong performance at City of Dreams Macau and record results in the mass market and slots segments.
The addition of 25 new-to-market VIP tables at MGM Cotai helped to spur revenue growth at MGM China, though the mass market is seen as the prime growth opportunity going forward.
SJM Holdings reported lower-than-expected EBITDA in the July-September 2019 period as VIP gross gambling revenue tumbled 43% in the quarter.
Galaxy Entertainment posted flat adjusted EBITDA for the April-June 2019 period, as well as lower revenue, but the results nevertheless topped analysts’ forecasts, helped by higher hold.
SJM Holdings is being buffeted by bad news as it has once again pushed back the completion date of its Grand Lisboa Palace resort at Cotai and reported a small decline in gaming revenue in the January-June 2019 period.
Speaking on an earnings call for the April-June 2019 period, Melco Resorts & Entertainment Chairman and CEO Lawrence Ho remained upbeat about his firm's prospects in Japan.
In celebration of its 45th anniversary, Galaxy Entertainment is hosting the “Hello Kitty Hello Again” exhibition at Broadway Macau from July 18 to September 1.