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Melco hits 22% rise in Q2
Melco Resorts and Entertainment announced its Q2 results, highlighting the rise of its operating revenues to 22%.
Founded in 2004, Melco has entertainment and casino gaming facilities in Europe and Asia. Its 2024 Q2 results are US $1.16bn, up from $947 in 2023. Adjusted Property EBITDA hit $302.8m, up from $267.3m the previous year.
Mr. Lawrence Ho, Melco chairman and CEO, said:
“Our strategic initiatives to expand revenue and profitability, and drive growth continued to evolve in the second quarter of 2024. We are investing in people and incorporating enhancements to our properties to provide the best premium experience available in Macau to our patrons. We’ve seen growth in GGR quarter-to-quarter and year-over-year, and our teams are focused on driving continued expansion of our market position.”
Mr. Lawrence talked about their other casinos as well. According to him, their project in the Philippines, City of Dreams, has consistently exhibited solid results. City of Dreams Mediterranean and satellite casinos in Cyprus also built upon the momentum seen in the past quarter, with luck-adjusted EBITDA growing more than 30 percent quarter-to-quarter.
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