Melco Resorts & Entertainment has reported its unaudited financial results for the third quarter of 2025.
Total operating revenues for the third quarter of 2025 stood at US$1.31 billion, representing an increase of approximately 11 percent from US$1.18 billion for the comparable period in 2024. The increase in total operating revenues was primarily attributable to the improved performance in both overall gambling and non-gambling operations.
Operating income for the third quarter of 2025 was US$184.5 million, compared with US$138.6 million in the third quarter of 2024. Adjusted property earnings before interest, taxes, depreciation and amortisation (EBITDA) was US$380.4 million in the third quarter of 2025, compared with US$322.6 million in the third quarter of 2024.
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Net income attributable to Melco for the third quarter was US$74.7 million, compared with US$27.3 million in the third quarter of 2024. The net loss attributable to noncontrolling interests was US$12.6 million and US$14.6 million during the third quarters of 2025 and 2024, respectively, the majority of which related to the net loss attributable to Studio City and City of Dreams Mediterranean.
Chairman and CEO Lawrence Ho said “Our properties in Macao delivered solid growth in the third quarter of 2025 with Macau property EBITDA improving by 21 percent year-over-year. Margins remained stable, underscoring the strength of our core business and focus on cost discipline.”
He added: “We introduced new gaming areas and facilities during the quarter, providing our patrons with a differentiated experience, and will continue to introduce new initiatives that will elevate the quality of engagement with our customers.
