City of Dreams Manila operating revenue rises 4 per cent in Q2
Operating revenue at City of Dreams Manila was US$116.4m.
The Philippines.- Melco Resorts & Entertainment Limited has shared its financial results for Q2. Operating revenue at City of Dreams Manila was US$116.4m, up 4 per cent year-on-year. The casino’s adjusted EBITDA was US$47m, down from US$49m in the same period of 2022.
Rolling chip volume was US$520.2m compared to US$771.3m in the second quarter of 2022 while the rolling chip win rate was 3.10 per cent. The mass market table games drop increased to US$194.5m from US$178.4m. The mass market table games hold percentage was 31.3 per cent, up from 29 per cent.
The gaming machine handle was US$1.01bn and the gaming machine win rate was 4.8 per cent. City of Dreams’ non-gaming revenue was US$28.7m (US$27.3m in the second quarter of 2022).
Chairman and CEO Lawrence Ho said: “The mass segment is also leading the recovery in the Philippines, continuing to outperform 2019 in the second quarter of 2023.”
Melco Resorts & Entertainment‘s overall operating revenue was US$947.9m in the second quarter of the year, up 220 per cent compared to the second quarter of 2022 (US$296.1m). The company reported an increase in operating revenues in all gaming segments and non-gaming operations as a result of the relaxation of Covid-19 related restrictions in Macau in January 2023, the opening of Studio City Phase 2’s Epic Tower and indoor waterpark in April 2023 and the commencement of residency concerts at Studio City.
