City of Dreams Manila posts revenue of US$95.2m for Q4
Operating revenue was up but adjusted EBITDA fell.
The Philippines.- Melco Resorts & Entertainment Limited has shared Q4 financial results for City of Dreams Manila. Operating revenue was US$83.9m, up from US$95.2m a year earlier. The casino’s adjusted EBITDA was US$23.6m, a decrease from US$34.6m in the same period of 2021.
There was a significant increase in rolling chip volume, up to US$940.7m from US$206.3m in the previous year. The rolling chip win rate increased from 1.20 per cent in the fourth quarter of 2021 to 1.84 per cent. The mass market table games drop increased to US$148.2m and the mass market table games hold percentage decreased to 31.9 per cent.
The gaming machine handle increased from US$815.1m to US$1.02bn, although the gaming machine win rate decreased from 5.4 per cent to 4.7 per cent in the fourth quarter of 2022. Non-gaming revenue at City of Dreams Manila declined from US$26.5m to US$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.”
Melco Resorts & Entertainment Limited has reported a decrease in its operating revenues for the fourth quarter of 2022. Total operating revenues were approximately US$337.1m, around 30 per cent lower than the US$480.6m reported the previous year.
