Studio City International Holdings has announced total operating revenues for the quarter ending September 30, 2024 of $174.6m, up from $137.6m in Q3 2023.
The company attributed the increase primarily to “the continued recovery in inbound tourism in Macau during the third quarter of 2024, and the ramp up of operations following the opening of Studio City Phase 2 in April 2023, which led to an increase in revenue from casino contract and higher non-gaming revenues.”
Gross gaming revenues reached $335.5m, up from $256.3m year-on-year.
Revenue from casino contract was $67.3m for the quarter, up from $48.6m for Q3 2023.
Operating income for the quarter was $16.0m, compared with operating income of $3.2m in Q3 2023.
Studio City generated Adjusted EBITDA reached $68.2m in Q3 2024, up from $56.3m in Q3 2023. The company attributed the change mainly to “the increase in revenue from casino contract and higher non-gaming revenues, partially offset by higher operating costs.”
Net loss attributable to Studio City International Holdings for the quarter was $21m, compared with net loss of $28.4m in Q3 2023.
