Gaming operator Melco Resorts’ net profit up 9.7pct y-on-y in 2019

Gaming operator Melco Resorts & Entertainment, with four casinos in Macau, reported on Thursday net profits of US$373.2 million in 2019, up 9.7 per cent from 2018.

In a statement, the group led by Lawrence Ho, son of Macau gaming magnate Stanley Ho, reported an operating profit of US$747.7 million in 2019, compared to US$613.4 million in the previous year, representing an increase of 22 per cent.

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) in 2019 was US$1.69 billion compared to US$1.49 billion in 2018.

The group, which also has casinos in the Philippines and Cyprus, earned operating revenues of US$5.74 billion from January to December 2019, up by US$550 million from 2018.

In 2019, casinos in Macau earned revenues of MOP292.46 billion, 3.4 per cent less than the previous year.