Nasdaq-listed Melco Resorts & Entertainment, a developer, owner, and operator of integrated resort facilities in Asia and Europe, reported a 31.97 percent year-on-year growth in net income to US$22.7 million (HK$177.06 million) for the second quarter.
Melco Resorts is a Melco International Developement (0200) subsidiary.
Total operating revenues during the period were US$1.25 billion, down nearly 6 percent from a year ago, primarily due to softer performance in rolling chip and mass market table games as well as overall non-gaming operations.
Its operating income inched up 2.5 percent to US$127.8 million.
Adjusted property earnings before interest, taxes, depreciation, and amortization decreased 19.6 percent to US$303.8 million.
Lawrence Ho, chairman and chief executive, said that despite near-term headwinds that are reflected in the second quarter results, the company's priorities continue to be to deepen customer engagement, attract high quality visitation, and continue investing in its properties to anticipate the changing needs of guests.
Melco Resorts' new hotel, REM, will commence its phased opening in the third quarter this year, which together with its continued efforts to operate more efficiently and strengthen business, positions the firm well to capture the demand that has been gaining momentum in Macau, Ho added.
