Macau's Studio City Q1 revenue rises on casino demand
Overview
Macau integrated resort's Q1 revenue rose 9% yr/yr, driven by mass market casino and non-gaming gains
Q1 adjusted EBITDA increased to $80 mln from $69.9 mln a year earlier
Company swung to Q1 net income of $2.9 mln from a loss last year
Outlook
Company did not provide specific guidance or outlook for the current or future periods
Result Drivers
CASINO CONTRACT REVENUE - Higher mass market casino performance led to increased revenue from casino contract
NON-GAMING REVENUE - Growth in non-gaming segments, including rooms, entertainment, and services, contributed to revenue gains
HIGHER OPERATING COSTS - Gains were partially offset by increased operating costs
Company press release: ID:nGNX9DkjVz
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue |
| $176.70 mln |
|
Q1 Net Income |
| $2.90 mln |
|
Q1 Adjusted EBITDA |
| $80 mln |
|
Q1 Capex |
| $4.60 mln |
|
Q1 Operating Income |
| $28 mln |
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