In comparison, the company’s operating loss for Q3 2021 was recorded at $182.2m, compared to $275m in the third quarter of 2020. Melco’s adjusted property EBITDA has reached $31.9m, compared to a negative amount of $76.7m last year.
The net loss accrued was less than the third-quarter results in 2020: $233.2m in contrast to $331.6m. Any loss this year was in relation to operations at Studio City, Cyprus and City of Dreams Manila.
Lawrence Ho, Chairman and CEO, said: “Continued travel restrictions and quarantine measures in Macau and the region negatively impacted our third quarter operating and financial performance. To preserve our cash and liquidity, we continue to enforce strong cost control discipline in respect to both operating expenses and capital expenditures.
"Looking forward, we are still confident that pent-up demand for Macau remains intact and strong.
“In Europe, the development of City of Dreams Mediterranean continues and is on track with our target opening date in the second half of 2022. The project represents Europe’s largest integrated resort with approximately 500 luxury hotel rooms, approximately 100,000 square feet of MICE space, an outdoor amphitheatre, a family adventure park, a variety of fine-dining outlets, and luxury retail.”
The integrated resort, Studio City, located in Cotai, also reported its own Q3 results, indicating a promising increase throughout Macau. The company’s operating revenue reached $18.7m compared to $0.9m the year prior.
