Melco Resorts  & Entertainment Ltd. recorded a 17 per cent year-on-year increase in its operating revenues to US$1.44 billion (MOP11.6 billion) in the second quarter of 2019 when compared with the same period of last year.
According to Melco’s financial quarterly report, operating income for the second quarter amounted to US$205.3 million, representing an increase of 74 per cent year-on-year.
Meanwhile, Melco’s adjusted property EBITDA was US$442.2 million, increasing 24 per cent for the same period in 2018.
The increase in total operating revenues was primarily attributable to better performance in the rolling chip and mass-market table games segments and higher non-gaming revenue as a result of the opening of Morpheus in June 2018.
Depreciation and amortization were costed US$159.8 million in the second quarter, of which US$14.2 million was related to the amortization expense for the gaming subconcession of Melco Resorts and US$5.7 million was related to the amortization expense for the land use rights.
Rolling chip volumes in the City of Dream totaled US$14.9 billion for the second quarter of 2019, increasing by MOP4.4 billion from the prior year, as mass-market table games drop grew by 16.2 per cent to US$1.37 billion and gaming machine results fell 7 per cent to some US$1 billion.
However, Studio City’s rolling chip volumes declined from US$6.1 billion to US$3.1 billion in the second quarter year-on-year, which was mainly affected by the Macau market-wide VIP weakness and by increasing competition in and around Cotai, although the mass market table games drop increased by 62.7 million to US$877 million in the second quarter of 2019.
