• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 25 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Melco Resorts parent “in a good position” to ride out COVID-19 on strong 2019 profit growth

Newsdesk by Newsdesk
Wed 1 Apr 2020 at 05:55
Power Play
50
SHARES
906
VIEWS
Print Friendly, PDF & Email

Melco International Development Ltd, the majority owner of Asian-based casino operator Melco Resorts & Entertainment, has reported a 10.5% increase in profit to HK$1.8 billion (US$232.2 million) for the year ended 31 December 2019, driven by an increase in gaming revenues.

The company saw net revenues rise 10.5% to HK$45 billion (US$5.81 billion) in 2019, with Adjusted EBITDA up 15.1% to HK$12.5 billion (US$1.61 billion) – the majority of which was contributed by Melco Resorts where FY19 operating revenues increased 10.6% to US$5.74 billion.

Melco’s interests include City of Dreams, Studio City, Altira Macau and Mocha Clubs in Macau, City of Dreams Manila in the Philippines and five casinos in Cyprus comprising four satellite casinos and one temporary facility pending development of €550 million integrated resort project City of Dreams Mediterranean.

Melco International Development Chairman and CEO Lawrence Ho said the company’s strong performance and ongoing development pipeline positions it well to overcome the challenges currently presented as a result of COVID-19.

“While 2020 will inevitably be dominated by the unfolding of the COVID-19 crisis, we enter this year of uncertainty in the best of financial and operational health,” he said.

“Our modest gearing ratio, recent cost cutting measures and CapEx deferrals allow us to maintain our regular dividend program and position us well to counter the hurdles posed by COVID-19.

“We are long-term thinkers and acutely aware that a rolling program of re-investment and improvement is key to retaining existing and attracting new guests. In 2019, this was proven by significant returns in both revenue and visibility from our iconic Macau hotel Morpheus which opened in mid-2018.

“Our big news is that work has begun on our next major landmark, Studio City Phase 2, centering around two striking hotel towers that will incorporate approximately 900 luxury rooms and suites. Meanwhile, renovation of Nüwa at City of Dreams was also started in early 2020.

“2020 promises to be a very difficult year for global integrated resort operators. However, we expect our commitment to developing world-class hospitality and entertainment facilities will put us in a good position to bring the best experience to our guests, and will see us through the challenging times in the near future.”

Melco International Development said it has recommended a final dividend of HK3.01 cents per share for the year ended 31 December 2019.

RelatedPosts

Buyer of Macau’s THE 13 Hotel plans extensive renovations, addition of world-renowned restaurants

Buyer of Macau’s THE 13 Hotel plans extensive renovations, addition of world-renowned restaurants

Wed 25 Jun 2025 at 18:49
Macau sports betting concessionaire Macau SLOT sees profit grow 32% to US$15.7 million in 2021

Macau sports betting operator Macau SLOT reports US$16 million profit in 2024, new one-year concession granted

Wed 25 Jun 2025 at 14:07
Macau’s Labour Affairs Bureau says contact made with 4,812 satellite casino employees to discuss rights

Macau’s Labour Affairs Bureau says contact made with 4,812 satellite casino employees to discuss rights

Tue 24 Jun 2025 at 19:09
Emperor Group to target Macau’s premium mass market after 2019 revenue decline

Emperor Entertainment sees Macau gaming segment’s revenue contribution rise in FY25 just as satellite casino era nears its end

Tue 24 Jun 2025 at 06:50
Load More
Tags: City of Dreams MacauCity of Dreams MediterraneanCoronaviruscovid-19Hong KongLawrence HoMacauMelco InternationalMelco Resorts & EntertainmentStudio City
Share28Share3
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

Buyer of Macau’s THE 13 Hotel plans extensive renovations, addition of world-renowned restaurants

Buyer of Macau’s THE 13 Hotel plans extensive renovations, addition of world-renowned restaurants

by Pierce Chan
Wed 25 Jun 2025 at 18:49

The buyer of Macau’s long embattled THE 13 Hotel has promised to undertake extensive renovations, including the addition of world-renowned restaurants, according to details provided by real estate agent JLL. It also revealed that the purchase price was HK$600 million...

Macau sports betting concessionaire Macau SLOT sees profit grow 32% to US$15.7 million in 2021

Macau sports betting operator Macau SLOT reports US$16 million profit in 2024, new one-year concession granted

by Pierce Chan
Wed 25 Jun 2025 at 14:07

Macau SLOT – Macau’s only sports betting concessionaire – reported a profit of MOP$130 million (US$16.1 million) in 2024, representing a slight 5.5% increase compared to 2023. The company also revealed it has been granted a one-year extension to its...

The Star Sydney’s casino license in limbo as final report from second inquiry handed to regulator

Star Entertainment Group shareholders give approval to AU$300 million Bally’s rescue package

by Ben Blaschke
Wed 25 Jun 2025 at 13:50

Star Entertainment Group shareholders have overwhelmingly voted in favor of an AU$300 million (US$195 million) rescue proposal by US casino operator Bally’s Corp and local investor Investment Holdings. At a General Meeting held on Wednesday morning, 99.36% of eligible shareholders...

Seaport Research: Thai casino regulations won’t be suitable for US operator involvement

Thailand’s move to recriminalize cannabis highlights casino operator concerns over regulatory instability

by Ben Blaschke
Wed 25 Jun 2025 at 05:53

Just weeks after global casino operators outlined the need for regulatory certainty if they are to pursue multi-billion-dollar investment into entertainment complexes in Thailand, their concerns look set to be highlighted by a government move to recriminalize cannabis. Thailand’s Public...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語