Melco Resorts Q2 revenue rises 15%
Overview
Melco Resorts Q2 revenue rises 15% yr/yr, driven by gaming and non-gaming improvements
Adjusted Property EBITDA for Q2 increases, reflecting stronger margins and cost efficiencies
Net income for Q2 declines yr/yr due to higher operating expenses and impairment charges
Outlook
Melco expects continued growth from strategic initiatives in Macau
Company cautiously optimistic about Cyprus' peak season performance
Melco sees challenges in the Philippines' competitive environment
Company anticipates opportunities from City of Dreams Sri Lanka opening
Result Drivers
GAMING PERFORMANCE - Improved gaming operations, particularly in mass market table games, drove revenue growth, per CEO Lawrence Ho
COST EFFICIENCIES - Increased cost efficiencies contributed to stronger margins, supporting overall revenue growth
PHILIPPINES CHALLENGES - Heightened competition in the Philippines impacted performance, but initiatives to improve results and reduce costs were implemented
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Operating Revenue |
| $1.33 bln |
|
Q2 Net Income |
| $9.36 mln |
|
Q2 Adjusted EBITDA |
| $377.70 mln |
|
Q2 Operating Income |
| $124.66 mln |
|
Q2 Pretax Profit |
| $21.25 mln |
|
Press Release: ID:nGNX1Pv668
