Lawrence Ho, chairman and CEO of Melco Resorts & Entertainment, said that newly released figures for the quarter ending March 31, 2025, showed the company’s “ongoing strength.”
Total operating revenue for the quarter was US$1.23bn, a year-on-year increase of around 11 per cent from $1.11bn. The increase in total operating revenue was attributed primarily to “the improved performance in all gaming operations and overall non-gaming operations.”
Operating income for the quarter was $144.9m, up from $125.4m year-on-year. Adjusted property EBITDA was $341m, up from $298.8m.
“Macau property EBITDA grew 32 per cent quarter-over-quarter, demonstrating our strength and growth potential in Macau,” said Ho. “Mass drop increased each month during the quarter, and we recorded our highest daily mass drop ever. The ongoing strength that we are seeing in our business momentum is a direct result of the combined efforts of our teams, and the quality of our product offerings, and we will continue to build on this momentum.
“City of Dreams Manila was impacted by the increased competition in the market, while results at City of Dreams Mediterranean and our satellite casinos in Cyprus exhibited solid sequential and year-on-year growth despite the continued challenges posed by the conflicts in the region.
“And finally, the fit-out of the casino at City of Dreams Sri Lanka is progressing well and we continue to expect to commence casino operations in the third quarter of 2025.”
