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NEWS 25 July 2019

Melco details Japan IR plans in Q2 report

By Matthew Enderby

Melco Resorts and Entertainment generated revenue of $1.4bn for the second quarter of 2019, up 17% year-on-year.

The operator attributed this growth to better performances in the rolling chip and mass market table game segments, as well as increases in non-gaming revenue.

Operating income for the period was $205.3m, up 74%, while adjusted property EBITDA rose 24% to $442.2m.

Net income was $100.3m, up 75% from Q2 2018.

At City of Dreams, Melco’s best performing property, the operator generated revenue of $790.8m, an increase of 37% and adjusted EBITDA of $250.8m, up 46%.

It announced rolling chip volumes of $14.9bn, while the mass market table games hold percentage was 32%.

Total non-gaming revenue was $98.4m at the venue, up 28%.

Lawrence Ho, Chairman and CEO at Melco Resorts and Entertainment, highlighted the performance of table games across the operator’s properties.

He also detailed Melco’s integrated resorts plans for Japan. Ho said: “In May, we released designs of our proposed Osaka integrated resort – City of the Future.

“We have also participated in the Yokohama RFI and will participate in the Osaka RFC.”

RELATED TAGS: Land-Based | Industry | Financial | Casino
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