Asia

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

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2 years ago

March 7, 2023

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

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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.”

Related Topics:City of Dreams Manila Lawrence Ho Melco Resorts & Entertainment Limited

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.