Melco Resorts has reported total operating revenues for the third quarter of 2023 at US$1.02 billion. The sum represents an increase of approximately 7.4 percent from the US$947.9 million reported in the previous quarter.
In a regulatory filing, the gaming concessionaire said the increase was “primarily attributable to the improved performance in all gaming segments and non-gaming operations following the relaxation of Covid-19 related restrictions in Macau in January 2023 and the opening of Studio City Phase 2.”
It added that operating income for the third quarter of 2023 was US$94.7 million compared to US$64.3 million in the previous three-month period. The third quarter’s adjusted earnings before interest, taxes, depreciation, amortisation, and restructuring or rent (EBITDA) stood at US$280.6 million, compared with US$267.3 million for the second quarter of 2023.
The net loss attributable to Melco Resorts for the third quarter of 2023 was US$16.3 million, or US$0.04 per American depository share.
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Total net non-operating expenses for the third quarter of 2023 were US$129.5 million, which mainly included interest expenses of US$131.1 million, partially offset by interest income of US$6.1 million.
Depreciation and amortisation costs of US$140.7 million were recorded, of which US$5.7 million related to the amortisation expense for land use rights.
In September, the gaming concessionaire opened W Macau Studio City. Billed as a “new landmark” on the Cotai Strip, the 557-room W hotel is part of a US$1.3 billion expansion program at Studio City and comes after the April unveiling of the 338-suite Epic Tower and a new water park.
