The latest update is out from Studio City International Holdings ( (MSC) ).
Studio City International Holdings Limited reported its unaudited financial results for the fourth quarter and full year of 2024, showing a rise in total operating revenues to US$152.9 million for the quarter, driven by a recovery in inbound tourism in Macau. Despite the increase in revenues, the company faced higher operating costs, resulting in a net loss of US$27.7 million for the quarter. The company has repositioned its casino operations by transferring VIP rolling chip operations to City of Dreams, focusing more on mass market segments. For the full year, Studio City reported total operating revenues of US$639.1 million, with an improved operating income of US$38.1 million, compared to a loss in the previous year. The financial results reflect the ongoing recovery in Macau’s tourism sector and strategic adjustments in the company’s gaming operations.
More about Studio City International Holdings
Studio City International Holdings Limited operates a world-class integrated resort located in Cotai, Macau. The company focuses on the gaming and entertainment industry, providing casino gaming services and non-gaming amenities, with a strategic emphasis on the premium mass and mass segments.
YTD Price Performance: -37.66%
Average Trading Volume: 12,364
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $729.1M
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