Studio City International Holdings (MSC) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Studio City International Holdings reported a substantial increase in operating revenues to $161.5 million in Q2 2024, up from $115.2 million the previous year, largely due to a recovery in Macau’s tourism and the successful opening of Studio City Phase 2. The company saw a significant rise in gaming revenues, including a higher rolling chip win rate and mass market table games drop, yet reported a net loss of $33.4 million, an improvement over the $48.5 million loss in Q2 2023. Despite this, the company reduced its total debt by $100 million and recorded higher Adjusted EBITDA of $54.2 million.
For further insights into MSC stock, check out TipRanks’ Stock Analysis page.
