Melco International Development has announced audited consolidated results for the company and its subsidiaries for the year ending 31 December 2024. In a press release, the casino operator said that net revenues came in at HK$36.17 billion (US$4.6 billion), a year-on-year increase of 22.5 percent.
Melco partly attributed this performance to Macao’s continued tourism recovery and the ramping up of operations following Studio City Phase 2’s opening in April 2023.
Loss attributable to owners last year amounted to HK$0.78 billion (US$100.2 million), compared to HK$1.74 billion (US$223 million) in 2023. The board did not recommend the payment of a final dividend for 2024.
Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) in 2024 came to HK$9.03 billion (US$1.1 billion), compared with HK$7.51 billion (US$965 million) in 2023.
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Melco’s chairman and CEO Lawrence Ho described 2024 as a year of “strategic expansion and refinement,” and said he was “pleased to report that our efforts are beginning to yield results” in the form of meaningful market gain.
“To meet the evolving demands of the growing middle class, we focused on elevating the premium experience through innovative investments,” he said.
Ho noted that City of Dreams Sri Lanka would launch in the third quarter of 2025, representing a “capital-light investment” for the company. Sri Lankan authorities have granted Melco a 20-year gaming license, and the Macao firm has made an initial investment of around US$125 million to establish casino facilities.
“Guided by our asset-light strategy, we also remain proactive in evaluating partnerships and exploring emerging markets,” Ho added – referencing the group’s intent to open a casino in Thailand, once the kingdom’s new regulatory framework is in place.
