Melco’s Revenue Increases in Q3 2019

Melco Resorts and Entertainment has released its financial report for Q3 2019. During the third quarter, the company generated US$1.4 billion, which is a 16% increase when compared to 2018.

In the third quarter, Melco achieved an income of US$175.2 million, or a 104% increase when compared to 3Q18. Net income for the three-month period was US$83.2 million, while adjusted EBITDA totalled US$418.2 million, a 39% rise.

“During the third quarter of 2019, Melco’s mass-market table games drop and gaming machine handle both reached all-time-record-highs. The third quarter of 2019 also marked 16 consecutive quarters of positive year-over-year growth in mass-market table games drop, highlighting the strength in Macau’s mass-gaming market,” Lawrence Ho, Chairman and CEO of Melco Resorts and Entertainment said.

“Broadly the VIP market has started to stabilise, at least at the beginning of Q4, and ultimately the VIP market in Macau is driven by the Chinese economy and policies. The sooner the trade war has some resolution and RMB stops devaluing it will have a positive impact on Macau gaming,” Ho added.