Melco Reports 16% Gain in July-September 2019 Period

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.

Total operating revenue in the quarter was US$1.44 billion, while adjusted property EBITDA gained 39% to US$418.2 million. Net income was US$83.2 million.

“During the third quarter of 2019, Melco’s mass market table games drop and gaming machine handle both reached all-time-record-highs,” Chairman and CEO Lawrence Ho said. “The third quarter of 2019 also marked the 16th consecutive quarter of positive year-over-year growth in mass market table games drop, highlighting the strength in Macau’s mass gaming market and Melco’s leadership position in the city’s mass and premium mass gaming segments.”

Regarding the firm’s ambitions in Japan, Ho told an earnings call, “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 experience and commitment to employee development will put Melco in a strong position to help Yokohama realize the vision of developing a world-leading IR with a unique Japanese touch.” (AGB Nippon)