Melco Resorts Q3 revenue slips on weaker gaming
MLCO•Melco Resorts’ third-quarter revenue fell 10% year over year to $1.17 billion, and the company reported a $9.10 million net loss. It repurchased $160 million in shares during the quarter.
1. Quarterly results
Melco Resorts said third-quarter revenue fell 10% year over year to $1.17 billion, mainly due to weaker rolling-chip, mass-market table-game and non-gaming operations. The company reported a net loss of $9.10 million and repurchased $160 million in shares during the quarter.
2. Cyprus properties
City of Dreams Mediterranean and satellite casinos in Cyprus delivered record quarterly EBITDA, offsetting some weakness elsewhere. Melco said it was focused on executing its strategy and pursuing long-term growth in Macau, and noted resilience at its Philippines and Cyprus properties.
