Melco Resorts & Entertainment yesterday reported its unaudited financial results for the second quarter of 2024.
Total operating revenues for the second quarter were US$1.16 billion, representing an increase of approximately 22 percent from the US$947.9 million recorded in the comparable period last year, the company said. Melco attributed the increase to the improved performance of its mass market and non-gaming operations, fuelled by Macao’s ongoing tourism recovery.
Operating income for the second quarter of 2024 was US$123.7 million, compared with US$64.3 million for the same period a year ago.
[See more: Melco puts its improved results down to refreshed marketing]
Adjusted property earnings before interest, taxes, depreciation and amortisation stood at US$302.8 million in the second quarter of 2024, compared with US$267.3 million in the second quarter of 2023.
Net income attributable to Melco Resorts & Entertainment for the period was US$21.4 million, compared with a loss of US$23.4 million in the second quarter of 2023.
Chairman and CEO Lawrence Ho said “Our strategic initiatives to expand revenue and profitability, and drive growth continued to evolve in the second quarter of 2024.” He added: “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.”
