Melco Resorts Reports Strong Q4 2024 Revenue Growth

Melco Resorts & Entertainment ( (MLCO) ) has released its Q4 earnings. Here is a breakdown of the information Melco Resorts & Entertainment presented to its investors.

Melco Resorts & Entertainment Limited, listed on Nasdaq as MLCO, is a prominent developer, owner, and operator of integrated resort facilities across Asia and Europe, known for its luxurious gaming and non-gaming offerings.

In its latest earnings report for the fourth quarter of 2024, Melco Resorts & Entertainment reported a notable increase in total operating revenues, reaching $1.19 billion, a 9% rise from the previous year. This growth was driven by improved performance across all gaming segments and non-gaming operations.

Key financial highlights include an operating income of $97 million, a significant turnaround from the operating loss of $94.4 million in the same quarter of 2023. Despite a net loss of $20.3 million, the company showed a substantial improvement from the $205.9 million net loss in the previous year. Adjusted Property EBITDA was slightly lower at $295.4 million compared to $303.4 million in 2023. The company also reported a full-year operating revenue of $4.64 billion, up from $3.78 billion in 2023, with a net income of $43.5 million for 2024.

Strategically, Melco has been focusing on enhancing customer experiences and expanding its market share, particularly in Macau, where visitation has exceeded pre-pandemic levels. The City of Dreams Manila and City of Dreams Mediterranean also reported strong performances, contributing to the company’s overall growth. The development of the casino at City of Dreams Sri Lanka is progressing well, with operations expected to commence in the third quarter of 2025.

Looking ahead, Melco Resorts & Entertainment remains committed to its strategic objectives, with plans to unveil new projects to support ongoing growth in Macau and other regions. The company is optimistic about its future prospects, buoyed by a strong foundation for growth and continued investments in enhancing customer experiences.