City of Dreams Manila Posts Revenue of $95.2M for Q4

Melco Resorts & Entertainment Limited has shared Q4 financial results for City of Dreams Manila. Operating revenue was $83.9m, up from $95.2m a year earlier. The casino’s adjusted EBITDA was $23.6m, a decrease from $34.6m in the same period of 2021.

There was a significant increase in rolling chip volume, up to $940.7m from $206.3m in the previous year. The rolling chip win rate increased from 1.2% in the fourth quarter of 2021 to 1.84%. The mass market table games drop increased to $148.2m and the mass market table games hold percentage decreased to 31.9%.

The gaming machine handle increased from $815.1m to $1.02bn, although the gaming machine win rate decreased from 5.4% to 4.7% in the fourth quarter of 2022. Non-gaming revenue at City of Dreams Manila declined from $26.5m to $24.5m.

Chairman and CEO Lawrence Ho said: “Gaming volumes in the Philippines have reached close to pre-pandemic levels. We are optimistic about continued growth in the Philippines as international travel normalizes.”