Melco’s revenue climbs 16% for Q3
Melco Resorts and Entertainment generated revenue of $1.4bn for Q3, a 16% increase year-on-year.
The operator reported income of $175.2m, representing a rise of 104%, while net income was $83.2m.
Adjusted property EBITDA was $418.2m, an increase of 39%.
Melco attributed its significant leap in income to a better performance in the rolling chip and mass market table game segments.
Rolling chip volume generated $17.2bn, a 40% increase, with a win rate of 3%.
Mass market table games drop increased to $1.4bn, a rise of 8%, while gaming machine handle increased 10% to $1.2bn.
During the quarter, Melco announced its partnership with Yokohama Marinos and Manchester City, and provided details for its “Yokohama First” policy.
Total non-gaming revenue at City of Dreams was $104.2m, a rise of 5%.
Lawrence Ho, Chairman and CEO of Melco Resorts and Entertainment, said: “During the third quarter of 2019, Melco’s mass market table games drop and gaming machine handle both reached all-time-record-highs.
“The third quarter of 2019 also marked 16 consecutive quarters of positive year-over-year growth in mass market table games drop, highlighting the strength in Macau’s mass gaming market.”