City of Dreams Manila operating revenue up 7.3% in Q3
Operating revenue at City of Dreams Manila was US$124.9m.
The Philippines.- Melco Resorts & Entertainment Limited has shared financial results from City of Dreams Manila for the third quarter of the year. Operating revenue was US$124.9m, up 7.3 per cent in quarter-on-quarter terms and up 21.7 per cent year-on-year. Adjusted EBITDA was US$48.7m, compared with US$41.4m in the comparable period of 2022.
Rolling chip volume was US$374.6m compared to US$513.2m while the rolling chip win rate was 6.48 per cent. The mass market table games drop increased to US$214.1m from US$153.3m. The mass market table games hold percentage was 29.7 per cent, down from 33.1 per cent in the third quarter of 2022.
The gaming machine handle was US$1.03bn. City of Dreams’ non-gaming revenue was US$29m (US$28.5m in the third quarter of 2022).
Chairman and CEO Lawrence Ho said: “City of Dreams Manila continues to generate solid earnings with a strong margin profile. On the other hand, after a successful opening, City of Dreams Mediterranean has been impacted by the conflict in Israel. Our teams are working on re-aligning our marketing strategy.
“Food waste reduction continues to be a key focus of our sustainability strategy with plate waste being the most challenging area to address. With clean plate awareness campaigns taking place almost daily in our staff dining areas at City of Dreams Manila and the implementation of AI technology, plate waste per cover has reduced by more than 60 per cent.”
