Studio City Reports Revenue Growth Amid Strategic Shifts

Studio City International Holdings ( (MSC) ) has released its Q4 earnings. Here is a breakdown of the information Studio City International Holdings presented to its investors.

Studio City International Holdings Limited, a prominent integrated resort located in Cotai, Macau, is known for its world-class entertainment and gaming facilities. The company is primarily involved in the gaming and hospitality industry, offering a unique blend of luxury accommodations, gaming, and non-gaming amenities.

In its latest earnings report, Studio City International Holdings Limited announced a rise in total operating revenues for the fourth quarter of 2024, reaching $152.9 million, up from $141.3 million in the same period of 2023. This increase is attributed to the recovery of inbound tourism in Macau, which positively impacted both gaming and non-gaming revenues.

Key financial highlights include a gross gaming revenue of $321.8 million for the fourth quarter of 2024, compared to $294.8 million in the previous year. The company strategically shifted its focus to the premium mass and mass segments, transferring VIP rolling chip operations to City of Dreams. Despite a decrease in rolling chip volume, the rolling chip win rate improved significantly. Non-gaming revenues also saw an increase, contributing to the overall revenue growth.

However, the company reported a net loss of $27.7 million for the fourth quarter, a decline from the previous year’s net loss of $18.6 million. This was primarily due to higher operating costs and non-operating expenses, including significant interest expenses. Despite the challenges, Studio City managed to reduce its total debt and secured new credit facilities, indicating a proactive approach to financial management.

Looking ahead, Studio City International Holdings Limited remains focused on capitalizing on the recovery of the tourism sector in Macau. The management is optimistic about the future, with strategic initiatives aimed at enhancing its market position and financial performance in the coming years.