Melco Announces Unaudited Second Quarter 2025 Earnings
Melco Resorts & Entertainment (NASDAQ:MLCO) reported Q2 2025 results with total operating revenues of US$1.33 billion, up 15% year-over-year. The company achieved operating income of US$124.7 million and Adjusted Property EBITDA of US$377.7 million, showing significant improvement from Q2 2024.
Key highlights include record-setting mass market table games revenue at City of Dreams Macau and Studio City. The company's net income was US$17.2 million (US$0.04 per ADS). City of Dreams posted strong performance with US$710.5 million in operating revenues and US$225.6 million in Adjusted EBITDA. The company also announced the upcoming opening of City of Dreams Sri Lanka on August 1, 2025, marking their entry into South Asia.
Melco Resorts & Entertainment (NASDAQ:MLCO) ha riportato i risultati del secondo trimestre 2025 con ricavi operativi totali di 1,33 miliardi di dollari, in aumento del 15% rispetto all'anno precedente. La societ脿 ha raggiunto un reddito operativo di 124,7 milioni di dollari e un EBITDA rettificato delle propriet脿 di 377,7 milioni di dollari, mostrando un miglioramento significativo rispetto al secondo trimestre 2024.
I punti salienti includono un fatturato record nei giochi da tavolo di massa presso City of Dreams Macau e Studio City. Il utile netto della societ脿 猫 stato di 17,2 milioni di dollari (0,04 dollari per ADS). City of Dreams ha registrato una solida performance con 710,5 milioni di dollari di ricavi operativi e 225,6 milioni di dollari di EBITDA rettificato. La societ脿 ha inoltre annunciato l'imminente apertura di City of Dreams Sri Lanka il 1掳 agosto 2025, segnando il loro ingresso nel Sud Asia.
Melco Resorts & Entertainment (NASDAQ:MLCO) report贸 resultados del segundo trimestre de 2025 con ingresos operativos totales de 1.33 mil millones de d贸lares, un aumento del 15% interanual. La compa帽铆a logr贸 un ingreso operativo de 124.7 millones de d贸lares y un EBITDA ajustado de propiedad de 377.7 millones de d贸lares, mostrando una mejora significativa respecto al segundo trimestre de 2024.
Los aspectos destacados incluyen ingresos r茅cord en juegos de mesa de mercado masivo en City of Dreams Macau y Studio City. El ingreso neto de la compa帽铆a fue de 17.2 millones de d贸lares (0.04 d贸lares por ADS). City of Dreams tuvo un desempe帽o s贸lido con 710.5 millones de d贸lares en ingresos operativos y 225.6 millones de d贸lares en EBITDA ajustado. La compa帽铆a tambi茅n anunci贸 la pr贸xima apertura de City of Dreams Sri Lanka el 1 de agosto de 2025, marcando su entrada en el sur de Asia.
Melco Resorts & Entertainment (NASDAQ:MLCO)電� 2025雲� 2攵勱赴 鞁れ爜鞚� 氚滍憸頃橂┌ 齑� 鞓侅梾靾橃澋 13鞏� 3觳滊 雼煬搿� 鞝勲厔 霃欔赴 雽�牍� 15% 歃濌皜頄堨姷雼堧嫟. 須岇偓電� 鞓侅梾鞚挫澋 1鞏� 2,470毵� 雼煬鞕赌 臁办爼霅� 攵�霃欖偘 EBITDA 3鞏� 7,770毵� 雼煬毳� 旮半頃橂┌ 2024雲� 2攵勱赴 雽�牍� 韥矊 臧滌劆霅� 靹标臣毳� 氤挫榾鞀惦媹雼�.
欤检殧 雮挫毄鞙茧電� City of Dreams Macau鞕赌 Studio City鞐愳劀 雽�欷� 鞁滌灔 韰岇澊敫� 瓴岇瀯 毵れ稖鞚� 靷儊 斓滉碃毳� 旮半頄堨姷雼堧嫟. 須岇偓鞚� 靾滌澊鞚奠潃 1,720毵� 雼煬 (ADS雼� 0.04 雼煬)鞓�鞀惦媹雼�. City of Dreams電� 7鞏� 1,050毵� 雼煬鞚� 鞓侅梾靾橃澋瓿� 2鞏� 2,560毵� 雼煬鞚� 臁办爼 EBITDA搿� 臧曤牓頃� 鞁れ爜鞚� 氤挫榾鞀惦媹雼�. 霕愴暅 2025雲� 8鞗� 1鞚� City of Dreams Sri Lanka鞚� 臧滌灔鞚� 氚滍憸頃橂┌ 雮晞鞁滌晞 鞁滌灔鞐� 歆勳稖頃� 鞓堨爼鞛呺媹雼�.
Melco Resorts & Entertainment (NASDAQ:MLCO) a publi茅 ses r茅sultats du deuxi猫me trimestre 2025 avec un chiffre d'affaires total de 1,33 milliard de dollars, en hausse de 15 % par rapport 脿 l'ann茅e pr茅c茅dente. La soci茅t茅 a r茅alis茅 un r茅sultat d'exploitation de 124,7 millions de dollars et un EBITDA ajust茅 des propri茅t茅s de 377,7 millions de dollars, montrant une am茅lioration significative par rapport au deuxi猫me trimestre 2024.
Les points cl茅s incluent un chiffre d'affaires record des jeux de table pour le march茅 de masse 脿 City of Dreams Macau et Studio City. Le r茅sultat net de la soci茅t茅 s'est 茅lev茅 脿 17,2 millions de dollars (0,04 dollar par ADS). City of Dreams a affich茅 une solide performance avec 710,5 millions de dollars de revenus d'exploitation et 225,6 millions de dollars d'EBITDA ajust茅. La soci茅t茅 a 茅galement annonc茅 l'ouverture prochaine de City of Dreams Sri Lanka le 1er ao没t 2025, marquant son entr茅e en Asie du Sud.
Melco Resorts & Entertainment (NASDAQ:MLCO) meldete die Ergebnisse f眉r das zweite Quartal 2025 mit Gesamtbetriebseinnahmen von 1,33 Milliarden US-Dollar, ein Anstieg von 15 % gegen眉ber dem Vorjahr. Das Unternehmen erzielte ein Betriebsergebnis von 124,7 Millionen US-Dollar und ein bereinigtes Immobilien-EBITDA von 377,7 Millionen US-Dollar, was eine deutliche Verbesserung gegen眉ber dem zweiten Quartal 2024 darstellt.
Zu den Highlights z盲hlen rekordverd盲chtige Ums盲tze bei Massentischspielen in City of Dreams Macau und Studio City. Der Nettoertrag des Unternehmens betrug 17,2 Millionen US-Dollar (0,04 US-Dollar pro ADS). City of Dreams verzeichnete eine starke Leistung mit 710,5 Millionen US-Dollar Betriebseinnahmen und 225,6 Millionen US-Dollar bereinigtem EBITDA. Das Unternehmen k眉ndigte au脽erdem die bevorstehende Er枚ffnung von City of Dreams Sri Lanka am 1. August 2025 an, was den Eintritt in S眉dasien markiert.
- Total operating revenues increased 15% year-over-year to US$1.33 billion
- Adjusted Property EBITDA grew 24.7% to US$377.7 million
- Record mass market table games revenue at City of Dreams Macau and Studio City
- City of Dreams Adjusted EBITDA increased 36.6% to US$225.6 million
- Rolling chip volume at City of Dreams grew to US$5.49 billion from US$4.83 billion
- Net income decreased to US$17.2 million from US$21.4 million year-over-year
- City of Dreams Manila showed softer performance with Adjusted EBITDA declining to US$28.4 million from US$40.5 million
- Impairment in goodwill of US$55.6 million due to closure of Grand Dragon Casino and three Mocha Clubs
- High total debt of US$7.16 billion as of Q2 2025
- Competitive pressures affecting Philippines operations
Insights
Melco's Q2 2025 shows 15% revenue growth to $1.33B, with record-setting mass market performance in Macau despite lower net income.
Melco delivered total operating revenues of
The company's Adjusted Property EBITDA reached
Macau operations were the standout performers, with Macau Property EBITDA growing
Studio City's Adjusted EBITDA increased by
Not all properties performed equally well. City of Dreams Manila saw Adjusted EBITDA decline by
The company recognized a
Notably, Melco is expanding with City of Dreams Sri Lanka opening on August 1, 2025, representing the first integrated resort in Sri Lanka and South Asia.
MACAU, July 31, 2025 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (鈥淢elco鈥� or the 鈥淐ompany鈥�), a developer, owner, and operator of integrated resort facilities in Asia and Europe, today reported its unaudited financial results for the second quarter of 2025.
Total operating revenues for the second quarter of 2025 were US
Operating income for the second quarter of 2025 was US
Melco鈥檚 Adjusted Property EBITDA(1) was US
Net income attributable to Melco Resorts & Entertainment Limited for the second quarter of 2025 was US
Mr. Lawrence Ho, our Chairman and Chief Executive Officer, commented, 鈥淢acau Property EBITDA grew
鈥淚n the Philippines, although the heightened competitive environment continues to impact performance, we have been implementing a variety of initiatives to improve performance and reduce cost. In Cyprus, City of Dreams Mediterranean and our satellite casinos exhibited solid results despite the events in the Middle East in June 2025 and we are cautiously optimistic about the performance for the remainder of the peak season.
鈥淎nd finally, we are very excited to have City of Dreams Sri Lanka open on August 1, 2025. City of Dreams Sri Lanka represents the first integrated resort in Sri Lanka and South Asia, and we are excited for the opportunities this presents for us.鈥�
City of Dreams Second Quarter Results
For the quarter ended June 30, 2025, total operating revenues at City of Dreams were US
Rolling chip volume increased to US
Mass market table games drop increased to US
Gaming machine handle for the second quarter of 2025 was US
Total non-gaming revenue at City of Dreams in the second quarter of 2025 was US
Studio City Second Quarter Results
For the quarter ended June 30, 2025, total operating revenues at Studio City were US
Mass market table games drop was US
Gaming machine handle for the second quarter of 2025 was US
Total non-gaming revenue at Studio City was US
As reported in the earnings release for the fourth quarter of 2024, Studio City has strategically repositioned itself to focus on the premium mass and mass operations, and VIP rolling chip operations at Studio City were transferred to City of Dreams in late October 2024.
Altira Macau Second Quarter Results
For the quarter ended June 30, 2025, total operating revenues at Altira Macau were US
Mass market table games drop was US
Gaming machine handle for the second quarter of 2025 was US
Total non-gaming revenue at Altira Macau was US
Mocha and Other Second Quarter Results
Total operating revenues from Mocha and Other were US
Mass market table games drop was US
Gaming machine handle for the second quarter of 2025 was US
City of Dreams Manila Second Quarter Results
For the quarter ended June 30, 2025, total operating revenues at City of Dreams Manila were US
City of Dreams Manila鈥檚 rolling chip volume was US
Mass market table games drop decreased to US
Gaming machine handle for the second quarter of 2025 was US
Total non-gaming revenue at City of Dreams Manila in the second quarter of 2025 was US
City of Dreams Mediterranean and Other Second Quarter Results
The Company operates City of Dreams Mediterranean in conjunction with three satellite casinos in Cyprus.
Total operating revenues at City of Dreams Mediterranean and Other for the quarter ended June 30, 2025 were US
Rolling chip volume was US
Mass market table games drop was US
Gaming machine handle for the second quarter of 2025 was US
Total non-gaming revenue at City of Dreams Mediterranean and Other in the second quarter of 2025 was US
Other Factors Affecting Earnings
Total net non-operating expenses for the second quarter of 2025 were US
Depreciation and amortization costs of US
As announced on June 9, 2025, after considering the Company鈥檚 overall development strategy and in accordance with Macau law, the Company will cease operations of the Grand Dragon Casino and three Mocha Clubs before the end of 2025. As a result, in the second quarter of 2025, we recognized an impairment in goodwill of US
The Adjusted EBITDA for Studio City for the three months ended June 30, 2025 referred to above was US
Financial Position and Capital Expenditures
Total cash and bank balances as of June 30, 2025 aggregated to US
In July 2025, Studio City Finance Limited repaid the US
Capital expenditures for the second quarter of 2025 were US
Conference Call Information
Melco Resorts & Entertainment Limited will hold a conference call to discuss its second quarter 2025 financial results on Thursday, July 31, 2025 at 8:30 a.m. Eastern Time (or 8:30 p.m. Singapore Time).
To join the conference call, please register in advance using the below Online Registration Link. Upon registering, each participant will receive the dial-in numbers, passcode and a unique Personal PIN which can be used to join the conference.
Online Registration Link:
An audio webcast and replay of the conference call will also be available at .
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the 鈥渟afe harbor鈥� provisions of the U.S. Private Securities Litigation Reform Act of 1995. Melco Resorts & Entertainment Limited (the 鈥淐ompany鈥�) may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the 鈥淪EC鈥�), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company鈥檚 beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to, (i) changes in the gaming market and visitations in Macau, the Philippines and the Republic of Cyprus, (ii) local and global economic conditions, (iii) capital and credit market volatility, (iv) our anticipated growth strategies, (v) risks associated with the implementation of the amended Macau gaming law by the Macau government, (vi) gaming authority and other governmental approvals and regulations, and (vii) our future business development, results of operations and financial condition. In some cases, forward-looking statements can be identified by words or phrases such as 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渆xpect,鈥� 鈥渁nticipate,鈥� 鈥渢arget,鈥� 鈥渁im,鈥� 鈥渆stimate,鈥� 鈥渋ntend,鈥� 鈥減lan,鈥� 鈥渂elieve,鈥� 鈥減otential,鈥� 鈥渃ontinue,鈥� 鈥渋s/are likely to鈥� or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company鈥檚 filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company undertakes no duty to update such information, except as required under applicable law.
Non-GAAP Financial Measures
| (1) | 鈥淎djusted EBITDA鈥� is net income/loss before interest, taxes, depreciation, amortization, pre-opening costs, development costs, property charges and other, share-based compensation, payments to the Philippine parties under the cooperative arrangement (the 鈥淧hilippine Parties鈥�), integrated resort and casino rent and other non-operating income and expenses. 鈥淎djusted Property EBITDA鈥� is net income/loss before interest, taxes, depreciation, amortization, pre-opening costs, development costs, property charges and other, share-based compensation, payments to the Philippine Parties, integrated resort and casino rent, Corporate and Other expenses and other non-operating income and expenses. Adjusted EBITDA and Adjusted Property EBITDA, which are non-GAAP financial measures, are presented as supplemental disclosures because management believes they are widely used to measure the performance, and as a basis for valuation, of gaming companies. Management uses Adjusted EBITDA and Adjusted Property EBITDA to measure the operating performance of our segments and to compare the operating performance of our properties with those of our competitors. The Company also presents Adjusted EBITDA and Adjusted Property EBITDA because they are used by some investors as ways to measure a company鈥檚 ability to incur and service debt, make capital expenditures, and meet working capital requirements. Gaming companies have historically reported similar measures as supplements to financial measures in accordance with generally accepted accounting principles, in particular, U.S. GAAP or International Financial Reporting Standards. However, Adjusted EBITDA and Adjusted Property EBITDA should not be considered as alternatives to operating income/loss as indicators of the Company鈥檚 performance, as alternatives to cash flows from operating activities as measures of liquidity, or as alternatives to any other measure determined in accordance with U.S. GAAP. Unlike net income/loss, Adjusted EBITDA and Adjusted Property EBITDA do not include depreciation and amortization or interest expense and, therefore, do not reflect current or future capital expenditures or the cost of capital. The Company recognizes these limitations and uses Adjusted EBITDA and Adjusted Property EBITDA as only two of several comparative tools, together with U.S. GAAP measurements, to assist in the evaluation of operating performance. Such U.S. GAAP measurements include operating income/loss, net income/loss, cash flows from operations and cash flow data. The Company has significant uses of cash flows, including capital expenditures, interest payments, debt principal repayments, taxes and other recurring and nonrecurring charges, which are not reflected in Adjusted EBITDA or Adjusted Property EBITDA. Also, the Company鈥檚 calculation of Adjusted EBITDA and Adjusted Property EBITDA may be different from the calculation methods used by other companies and, therefore, comparability may be limited. The use of Adjusted Property EBITDA and Adjusted EBITDA has material limitations as an analytical tool, as Adjusted Property EBITDA and Adjusted EBITDA do not include all items that impact our net income/loss. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measure to its most directly comparable GAAP financial measure. Reconciliations of Adjusted EBITDA and Adjusted Property EBITDA with the most comparable financial measures calculated and presented in accordance with U.S. GAAP are provided herein immediately following the financial statements included in this press release. |
| (2) | 鈥淎djusted net income/loss鈥� is net income/loss before pre-opening costs, development costs, property charges and other and loss on extinguishment of debt, net of noncontrolling interests and taxes calculated using specific tax treatments applicable to the adjustments based on their respective jurisdictions. Adjusted net income/loss attributable to Melco Resorts & Entertainment Limited and adjusted net income/loss attributable to Melco Resorts & Entertainment Limited per share (鈥淓PS鈥�), which are non-GAAP financial measures, are presented as supplemental disclosures because management believes they are widely used to measure the performance, and as a basis for valuation, of gaming companies. These measures are used by management and/or evaluated by some investors, in addition to income/loss and EPS computed in accordance with U.S. GAAP, as an additional basis for assessing period-to-period results of our business. Adjusted net income/loss attributable to Melco Resorts & Entertainment Limited and adjusted net income/loss attributable to Melco Resorts & Entertainment Limited per share may be different from the calculation methods used by other companies and, therefore, comparability may be limited. Reconciliations of adjusted net income/loss attributable to Melco Resorts & Entertainment Limited with the most comparable financial measures calculated and presented in accordance with U.S. GAAP are provided herein immediately following the financial statements included in this press release. |
| 听 | 听 |
About Melco Resorts & Entertainment Limited
The Company, with its American depositary shares listed on the Nasdaq Global Select Market (Nasdaq: MLCO), is a developer, owner and operator of integrated resort facilities in Asia and Europe. The Company currently operates City of Dreams () and Altira Macau (), integrated resorts located in Cotai and Taipa, Macau, respectively. Its business also includes the Grand Dragon Casino, a casino located in Taipa, Macau and Mocha Clubs (), the largest non-casino based operator of electronic gaming machines in Macau. In addition, the Company operates Studio City (), a cinematically-themed integrated resort in Cotai, Macau. In the Philippines, the Company operates and manages City of Dreams Manila (), an integrated resort in the Entertainment City complex in Manila. In Europe, the Company operates City of Dreams Mediterranean, an integrated resort in Limassol, in the Republic of Cyprus () and licensed satellite casinos in other cities in Cyprus (the 鈥淐yprus Casinos鈥�). For more information about the Company, please visit .
The Company is majority owned by Melco International Development Limited, a company listed on the Main Board of The Stock Exchange of Hong Kong Limited, which is in turn majority owned and led by Mr. Lawrence Ho, who is the Chairman, Executive Director and Chief Executive Officer of the Company.
For the investment community, please contact:
Jeanny Kim
Senior Vice President, Group Treasurer
Tel: +852 2598 3698
Email:
For media enquiries, please contact:
Chimmy Leung
Executive Director, Corporate Communications
Tel: +852 3151 3765
Email:
| Melco Resorts & Entertainment Limited and Subsidiaries | |||||||||||||||
| Condensed Consolidated Statements of Operations (Unaudited) | |||||||||||||||
| (In thousands, except share and per share data) | |||||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| 听 | Three Months Ended | 听 | Six Months Ended | ||||||||||||
| 听 | June 30, | 听 | June 30, | ||||||||||||
| 听 | 2025听 | 听 | 2024听 | 听 | 2025听 | 听 | 2024听 | ||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Operating revenues: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Casino | $ | 1,095,508 | 听 | 听 | $ | 942,968 | 听 | 听 | $ | 2,119,920 | 听 | 听 | $ | 1,856,288 | 听 |
| Rooms | 听 | 108,918 | 听 | 听 | 听 | 101,386 | 听 | 听 | 听 | 214,057 | 听 | 听 | 听 | 202,224 | 听 |
| Food and beverage | 听 | 70,948 | 听 | 听 | 听 | 71,574 | 听 | 听 | 听 | 146,496 | 听 | 听 | 听 | 137,679 | 听 |
| Entertainment, retail and other | 听 | 52,837 | 听 | 听 | 听 | 43,727 | 听 | 听 | 听 | 80,046 | 听 | 听 | 听 | 75,871 | 听 |
| Total operating revenues | 听 | 1,328,211 | 听 | 听 | 听 | 1,159,655 | 听 | 听 | 听 | 2,560,519 | 听 | 听 | 听 | 2,272,062 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Operating costs and expenses: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Casino | 听 | (695,947 | ) | 听 | 听 | (632,474 | ) | 听 | 听 | (1,358,604 | ) | 听 | 听 | (1,242,225 | ) |
| Rooms | 听 | (36,938 | ) | 听 | 听 | (30,266 | ) | 听 | 听 | (72,563 | ) | 听 | 听 | (59,518 | ) |
| Food and beverage | 听 | (60,641 | ) | 听 | 听 | (53,712 | ) | 听 | 听 | (121,738 | ) | 听 | 听 | (108,449 | ) |
| Entertainment, retail and other | 听 | (32,731 | ) | 听 | 听 | (23,021 | ) | 听 | 听 | (46,518 | ) | 听 | 听 | (39,647 | ) |
| General and administrative | 听 | (158,494 | ) | 听 | 听 | (144,388 | ) | 听 | 听 | (313,444 | ) | 听 | 听 | (271,343 | ) |
| Payments to the Philippine Parties | 听 | (9,062 | ) | 听 | 听 | (10,535 | ) | 听 | 听 | (18,301 | ) | 听 | 听 | (19,024 | ) |
| Pre-opening costs | 听 | (28,982 | ) | 听 | 听 | (2,883 | ) | 听 | 听 | (43,023 | ) | 听 | 听 | (5,172 | ) |
| Development costs | 听 | (1,846 | ) | 听 | 听 | (1,934 | ) | 听 | 听 | (5,270 | ) | 听 | 听 | (2,072 | ) |
| Amortization of land use rights | 听 | (4,980 | ) | 听 | 听 | (4,979 | ) | 听 | 听 | (9,982 | ) | 听 | 听 | (9,955 | ) |
| Depreciation and amortization | 听 | (128,943 | ) | 听 | 听 | (129,535 | ) | 听 | 听 | (254,364 | ) | 听 | 听 | (261,357 | ) |
| Property charges and other | 听 | (44,991 | ) | 听 | 听 | (2,192 | ) | 听 | 听 | (47,186 | ) | 听 | 听 | (4,214 | ) |
| Total operating costs and expenses | 听 | (1,203,555 | ) | 听 | 听 | (1,035,919 | ) | 听 | 听 | (2,290,993 | ) | 听 | 听 | (2,022,976 | ) |
| Operating income | 听 | 124,656 | 听 | 听 | 听 | 123,736 | 听 | 听 | 听 | 269,526 | 听 | 听 | 听 | 249,086 | 听 |
| Non-operating income (expenses): | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Interest income | 听 | 1,687 | 听 | 听 | 听 | 4,293 | 听 | 听 | 听 | 4,563 | 听 | 听 | 听 | 8,831 | 听 |
| Interest expense, net of amounts capitalized | 听 | (117,883 | ) | 听 | 听 | (121,320 | ) | 听 | 听 | (237,389 | ) | 听 | 听 | (245,512 | ) |
| Other financing costs | 听 | (1,895 | ) | 听 | 听 | (1,976 | ) | 听 | 听 | (3,978 | ) | 听 | 听 | (3,600 | ) |
| Foreign exchange gains, net | 听 | 13,299 | 听 | 听 | 听 | 2,335 | 听 | 听 | 听 | 18,901 | 听 | 听 | 听 | 507 | 听 |
| Other income, net | 听 | 1,389 | 听 | 听 | 听 | 605 | 听 | 听 | 听 | 1,989 | 听 | 听 | 听 | 2,605 | 听 |
| Loss on extinguishment of debt | 听 | - | 听 | 听 | 听 | (869 | ) | 听 | 听 | - | 听 | 听 | 听 | (869 | ) |
| Total non-operating expenses, net | 听 | (103,403 | ) | 听 | 听 | (116,932 | ) | 听 | 听 | (215,914 | ) | 听 | 听 | (238,038 | ) |
| Income before income tax | 听 | 21,253 | 听 | 听 | 听 | 6,804 | 听 | 听 | 听 | 53,612 | 听 | 听 | 听 | 11,048 | 听 |
| Income tax expense | 听 | (11,898 | ) | 听 | 听 | (8,091 | ) | 听 | 听 | (16,510 | ) | 听 | 听 | (11,785 | ) |
| Net income (loss) | 听 | 9,355 | 听 | 听 | 听 | (1,287 | ) | 听 | 听 | 37,102 | 听 | 听 | 听 | (737 | ) |
| Net loss attributable to noncontrolling interests | 听 | 7,837 | 听 | 听 | 听 | 22,677 | 听 | 听 | 听 | 12,622 | 听 | 听 | 听 | 37,297 | 听 |
| Net income attributable to Melco Resorts & Entertainment Limited | $ | 17,192 | 听 | 听 | $ | 21,390 | 听 | 听 | $ | 49,724 | 听 | 听 | $ | 36,560 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Net income attributable to Melco Resorts & Entertainment Limited per share: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Basic | $ | 0.015 | 听 | 听 | $ | 0.016 | 听 | 听 | $ | 0.041 | 听 | 听 | $ | 0.028 | 听 |
| Diluted | $ | 0.014 | 听 | 听 | $ | 0.016 | 听 | 听 | $ | 0.041 | 听 | 听 | $ | 0.028 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Net income attributable to Melco Resorts & Entertainment Limited per ADS: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Basic | $ | 0.044 | 听 | 听 | $ | 0.049 | 听 | 听 | $ | 0.123 | 听 | 听 | $ | 0.083 | 听 |
| Diluted | $ | 0.043 | 听 | 听 | $ | 0.049 | 听 | 听 | $ | 0.122 | 听 | 听 | $ | 0.083 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Weighted average shares outstanding used in net income attributable to Melco Resorts & Entertainment Limited per share calculation: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Basic | 听 | 1,183,590,580 | 听 | 听 | 听 | 1,320,517,938 | 听 | 听 | 听 | 1,216,519,466 | 听 | 听 | 听 | 1,315,894,356 | 听 |
| Diluted | 听 | 1,186,358,988 | 听 | 听 | 听 | 1,322,235,542 | 听 | 听 | 听 | 1,219,467,624 | 听 | 听 | 听 | 1,320,530,024 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Melco Resorts & Entertainment Limited and Subsidiaries | |||||||
| Condensed Consolidated Balance Sheets | |||||||
| (In thousands, except share and per share data) | |||||||
| 听 | 听 | 听 | 听 | 听 | 听 | ||
| 听 | June 30, | 听 | December 31, | ||||
| 听 | 2025听 | 听 | 2024听 | ||||
| 听 | (Unaudited) | 听 | 听 | 听 | |||
| ASSETS | 听 | 听 | 听 | 听 | 听 | ||
| 听 | 听 | 听 | 听 | 听 | 听 | ||
| Current assets: | 听 | 听 | 听 | 听 | 听 | ||
| Cash and cash equivalents | $ | 1,119,822 | 听 | 听 | $ | 1,147,193 | 听 |
| Restricted cash | 听 | - | 听 | 听 | 听 | 368 | 听 |
| Accounts receivable, net | 听 | 129,338 | 听 | 听 | 听 | 144,211 | 听 |
| Receivables from affiliated companies | 听 | 2,071 | 听 | 听 | 听 | 2,422 | 听 |
| Inventories | 听 | 32,881 | 听 | 听 | 听 | 32,452 | 听 |
| Prepaid expenses and other current assets | 听 | 102,407 | 听 | 听 | 听 | 102,521 | 听 |
| Total current assets | 听 | 1,386,519 | 听 | 听 | 听 | 1,429,167 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||
| Property and equipment, net | 听 | 5,234,667 | 听 | 听 | 听 | 5,272,500 | 听 |
| Intangible assets, net | 听 | 279,108 | 听 | 听 | 听 | 288,710 | 听 |
| Goodwill | 听 | 25,632 | 听 | 听 | 听 | 82,090 | 听 |
| Long-term prepayments, deposits and other assets, net | 听 | 127,120 | 听 | 听 | 听 | 131,850 | 听 |
| Restricted cash | 听 | 124,143 | 听 | 听 | 听 | 125,511 | 听 |
| Operating lease right-of-use assets | 听 | 85,094 | 听 | 听 | 听 | 89,164 | 听 |
| Land use rights, net | 听 | 550,221 | 听 | 听 | 听 | 566,351 | 听 |
| Total assets | $ | 7,812,504 | 听 | 听 | $ | 7,985,343 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||
| LIABILITIES AND DEFICIT | 听 | 听 | 听 | 听 | 听 | ||
| 听 | 听 | 听 | 听 | 听 | 听 | ||
| Current liabilities: | 听 | 听 | 听 | 听 | 听 | ||
| Accounts payable | $ | 16,919 | 听 | 听 | $ | 24,794 | 听 |
| Accrued expenses and other current liabilities | 听 | 1,034,582 | 听 | 听 | 听 | 1,054,018 | 听 |
| Income tax payable, current | 听 | 36,059 | 听 | 听 | 听 | 38,009 | 听 |
| Operating lease liabilities, current | 听 | 21,795 | 听 | 听 | 听 | 18,590 | 听 |
| Finance lease liabilities, current | 听 | 34,668 | 听 | 听 | 听 | 33,817 | 听 |
| Current portion of long-term debt, net | 听 | 51,295 | 听 | 听 | 听 | 21,597 | 听 |
| Payables to affiliated companies | 听 | 617 | 听 | 听 | 听 | 39 | 听 |
| Total current liabilities | 听 | 1,195,935 | 听 | 听 | 听 | 1,190,864 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||
| Long-term debt, net | 听 | 7,109,676 | 听 | 听 | 听 | 7,135,825 | 听 |
| Other long-term liabilities | 听 | 299,497 | 听 | 听 | 听 | 315,299 | 听 |
| Income tax payable, non-current | 听 | 5,916 | 听 | 听 | 听 | - | 听 |
| Deferred tax liabilities, net | 听 | 35,726 | 听 | 听 | 听 | 36,708 | 听 |
| Operating lease liabilities, non-current | 听 | 76,548 | 听 | 听 | 听 | 80,673 | 听 |
| Finance lease liabilities, non-current | 听 | 162,548 | 听 | 听 | 听 | 165,938 | 听 |
| Total liabilities | 听 | 8,885,846 | 听 | 听 | 听 | 8,925,307 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||
| Deficit: | 听 | 听 | 听 | 听 | 听 | ||
| Ordinary shares, par value | 听 | 听 | 听 | 听 | 听 | ||
| 1,351,540,382 and 1,351,540,382 shares issued; | 听 | 听 | 听 | 听 | 听 | ||
| 1,171,221,595 and 1,259,138,299 shares outstanding, respectively | 听 | 13,515 | 听 | 听 | 听 | 13,515 | 听 |
| Treasury shares, at cost; 180,318,787 and 92,402,083 shares, respectively | 听 | (358,997 | ) | 听 | 听 | (216,626 | ) |
| Additional paid-in capital | 听 | 2,975,802 | 听 | 听 | 听 | 2,985,730 | 听 |
| Accumulated other comprehensive losses | 听 | (94,800 | ) | 听 | 听 | (95,750 | ) |
| Accumulated losses | 听 | (3,963,605 | ) | 听 | 听 | (4,013,329 | ) |
| Total Melco Resorts & Entertainment Limited shareholders鈥� deficit | 听 | (1,428,085 | ) | 听 | 听 | (1,326,460 | ) |
| Noncontrolling interests | 听 | 354,743 | 听 | 听 | 听 | 386,496 | 听 |
| Total deficit | 听 | (1,073,342 | ) | 听 | 听 | (939,964 | ) |
| Total liabilities and deficit | $ | 7,812,504 | 听 | 听 | $ | 7,985,343 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | ||
| Melco Resorts & Entertainment Limited and Subsidiaries | |||||||||||||||
| Reconciliation of Net Income Attributable to Melco Resorts & Entertainment Limited to | |||||||||||||||
| Adjusted Net Income Attributable to Melco Resorts & Entertainment Limited (Unaudited) | |||||||||||||||
| (In thousands, except share and per share data) | |||||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| 听 | Three Months Ended | 听 | Six Months Ended | ||||||||||||
| 听 | June 30, | 听 | June 30, | ||||||||||||
| 听 | 2025听 | 听 | 2024听 | 听 | 2025听 | 听 | 2024听 | ||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Net income attributable to Melco Resorts & Entertainment Limited | $ | 17,192 | 听 | 听 | $ | 21,390 | 听 | 听 | $ | 49,724 | 听 | 听 | $ | 36,560 | 听 |
| Pre-opening costs | 听 | 28,982 | 听 | 听 | 听 | 2,883 | 听 | 听 | 听 | 43,023 | 听 | 听 | 听 | 5,172 | 听 |
| Development costs | 听 | 1,846 | 听 | 听 | 听 | 1,934 | 听 | 听 | 听 | 5,270 | 听 | 听 | 听 | 2,072 | 听 |
| Property charges and other | 听 | 44,991 | 听 | 听 | 听 | 2,192 | 听 | 听 | 听 | 47,186 | 听 | 听 | 听 | 4,214 | 听 |
| Loss on extinguishment of debt | 听 | - | 听 | 听 | 听 | 869 | 听 | 听 | 听 | - | 听 | 听 | 听 | 869 | 听 |
| Income tax impact on adjustments | 听 | (556 | ) | 听 | 听 | (18 | ) | 听 | 听 | (799 | ) | 听 | 听 | (37 | ) |
| Noncontrolling interests impact on adjustments | 听 | (188 | ) | 听 | 听 | (844 | ) | 听 | 听 | (1,052 | ) | 听 | 听 | (883 | ) |
| Adjusted net income attributable to Melco Resorts & Entertainment Limited | $ | 92,267 | 听 | 听 | $ | 28,406 | 听 | 听 | $ | 143,352 | 听 | 听 | $ | 47,967 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Adjusted net income attributable to Melco Resorts & Entertainment Limited per share: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Basic | $ | 0.078 | 听 | 听 | $ | 0.022 | 听 | 听 | $ | 0.118 | 听 | 听 | $ | 0.036 | 听 |
| Diluted | $ | 0.078 | 听 | 听 | $ | 0.021 | 听 | 听 | $ | 0.118 | 听 | 听 | $ | 0.036 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Adjusted net income attributable to Melco Resorts & Entertainment Limited per ADS: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Basic | $ | 0.234 | 听 | 听 | $ | 0.065 | 听 | 听 | $ | 0.354 | 听 | 听 | $ | 0.109 | 听 |
| Diluted | $ | 0.233 | 听 | 听 | $ | 0.064 | 听 | 听 | $ | 0.353 | 听 | 听 | $ | 0.109 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Weighted average shares outstanding used in adjusted net income attributable to Melco Resorts & Entertainment Limited per share calculation: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Basic | 听 | 1,183,590,580 | 听 | 听 | 听 | 1,320,517,938 | 听 | 听 | 听 | 1,216,519,466 | 听 | 听 | 听 | 1,315,894,356 | 听 |
| Diluted | 听 | 1,186,358,988 | 听 | 听 | 听 | 1,322,235,542 | 听 | 听 | 听 | 1,219,467,624 | 听 | 听 | 听 | 1,320,530,024 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Melco Resorts & Entertainment Limited and Subsidiaries | ||||||||||||||||||||||||||||||||
| Reconciliation of Operating Income to Adjusted EBITDA and Adjusted Property EBITDA (Unaudited) | ||||||||||||||||||||||||||||||||
| (In thousands) | ||||||||||||||||||||||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||
| 听 | 听 | Three Months Ended June 30, 2025 | ||||||||||||||||||||||||||||||
| 听 | 听 | City of Dreams | 听 | Studio City | 听 | Altira Macau | 听 | Mocha and Other | 听 | City of Dreams Manila | 听 | City of Dreams Mediterranean and Other | 听 | Corporate and Other | 听 | Total | ||||||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||||||||
| Operating income (loss) | $ | 163,368 | 听 | 听 | $ | 47,336 | 听 | 听 | $ | (35 | ) | 听 | $ | (51,468 | ) | 听 | $ | 12,769 | 听 | 听 | $ | (748 | ) | 听 | $ | (46,566 | ) | 听 | $ | 124,656 | 听 | |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||
| Payments to the Philippine Parties | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 9,062 | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 9,062 | 听 | |
| Integrated resort and casino rent(3) | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 1,118 | 听 | 听 | 听 | - | 听 | 听 | 听 | 1,788 | 听 | 听 | 听 | 2,906 | 听 | |
| Pre-opening costs(4) | 听 | 19,985 | 听 | 听 | 听 | 314 | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 6,895 | 听 | 听 | 听 | 27,194 | 听 | |
| Development costs | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 1,846 | 听 | 听 | 听 | 1,846 | 听 | |
| Depreciation and amortization | 听 | 51,220 | 听 | 听 | 听 | 56,926 | 听 | 听 | 听 | 578 | 听 | 听 | 听 | 1,077 | 听 | 听 | 听 | 5,147 | 听 | 听 | 听 | 13,155 | 听 | 听 | 听 | 5,820 | 听 | 听 | 听 | 133,923 | 听 | |
| Share-based compensation | 听 | 1,600 | 听 | 听 | 听 | 428 | 听 | 听 | 听 | 114 | 听 | 听 | 听 | 46 | 听 | 听 | 听 | 269 | 听 | 听 | 听 | 105 | 听 | 听 | 听 | 5,084 | 听 | 听 | 听 | 7,646 | 听 | |
| Property charges and other | 听 | (10,536 | ) | 听 | 听 | 206 | 听 | 听 | 听 | 184 | 听 | 听 | 听 | 55,557 | 听 | 听 | 听 | 52 | 听 | 听 | 听 | (97 | ) | 听 | 听 | (375 | ) | 听 | 听 | 44,991 | 听 | |
| Adjusted EBITDA | 听 | 225,637 | 听 | 听 | 听 | 105,210 | 听 | 听 | 听 | 841 | 听 | 听 | 听 | 5,212 | 听 | 听 | 听 | 28,417 | 听 | 听 | 听 | 12,415 | 听 | 听 | 听 | (25,508 | ) | 听 | 听 | 352,224 | 听 | |
| Corporate and Other expenses | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 25,508 | 听 | 听 | 听 | 25,508 | 听 | |
| Adjusted Property EBITDA | $ | 225,637 | 听 | 听 | $ | 105,210 | 听 | 听 | $ | 841 | 听 | 听 | $ | 5,212 | 听 | 听 | $ | 28,417 | 听 | 听 | $ | 12,415 | 听 | 听 | $ | - | 听 | 听 | $ | 377,732 | 听 | |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||
| 听 | 听 | Three Months Ended June 30, 2024 | ||||||||||||||||||||||||||||||
| 听 | 听 | City of Dreams | 听 | Studio City | 听 | Altira Macau | 听 | Mocha and Other | 听 | City of Dreams Manila | 听 | City of Dreams Mediterranean and Other | 听 | Corporate and Other | 听 | Total | ||||||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||||||||
| Operating income (loss) | $ | 111,105 | 听 | 听 | $ | 23,456 | 听 | 听 | $ | (3,174 | ) | 听 | $ | 5,876 | 听 | 听 | $ | 17,209 | 听 | 听 | $ | 653 | 听 | 听 | $ | (31,389 | ) | 听 | $ | 123,736 | 听 | |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||
| Payments to the Philippine Parties | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 10,535 | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 10,535 | 听 | |
| Integrated resort and casino rent(3) | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 1,045 | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 1,045 | 听 | |
| Pre-opening costs | 听 | 1,801 | 听 | 听 | 听 | 747 | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 26 | 听 | 听 | 听 | 309 | 听 | 听 | 听 | 2,883 | 听 | |
| Development costs | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 1,934 | 听 | 听 | 听 | 1,934 | 听 | |
| Depreciation and amortization | 听 | 49,750 | 听 | 听 | 听 | 54,492 | 听 | 听 | 听 | 557 | 听 | 听 | 听 | 930 | 听 | 听 | 听 | 11,355 | 听 | 听 | 听 | 12,218 | 听 | 听 | 听 | 5,212 | 听 | 听 | 听 | 134,514 | 听 | |
| Share-based compensation | 听 | 1,225 | 听 | 听 | 听 | 337 | 听 | 听 | 听 | 108 | 听 | 听 | 听 | 43 | 听 | 听 | 听 | 283 | 听 | 听 | 听 | 106 | 听 | 听 | 听 | 4,955 | 听 | 听 | 听 | 7,057 | 听 | |
| Property charges and other | 听 | 1,251 | 听 | 听 | 听 | 208 | 听 | 听 | 听 | 497 | 听 | 听 | 听 | - | 听 | 听 | 听 | 61 | 听 | 听 | 听 | 105 | 听 | 听 | 听 | 70 | 听 | 听 | 听 | 2,192 | 听 | |
| Adjusted EBITDA | 听 | 165,132 | 听 | 听 | 听 | 79,240 | 听 | 听 | 听 | (2,012 | ) | 听 | 听 | 6,849 | 听 | 听 | 听 | 40,488 | 听 | 听 | 听 | 13,108 | 听 | 听 | 听 | (18,909 | ) | 听 | 听 | 283,896 | 听 | |
| Corporate and Other expenses | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 18,909 | 听 | 听 | 听 | 18,909 | 听 | |
| Adjusted Property EBITDA | $ | 165,132 | 听 | 听 | $ | 79,240 | 听 | 听 | $ | (2,012 | ) | 听 | $ | 6,849 | 听 | 听 | $ | 40,488 | 听 | 听 | $ | 13,108 | 听 | 听 | $ | - | 听 | 听 | $ | 302,805 | 听 | |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||
| (3)听听Integrated resort and casino rent represents land rent and variable lease costs to Belle Corporation and casino rent to John Keells Group. | ||||||||||||||||||||||||||||||||
| (4)听听Certain amounts of pre-opening costs are grouped and reported under the line item Integrated resort and casino rent. | ||||||||||||||||||||||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||
| Melco Resorts & Entertainment Limited and Subsidiaries | |||||||||||||||||||||||||||||||
| Reconciliation of Operating Income to Adjusted EBITDA and Adjusted Property EBITDA (Unaudited) | |||||||||||||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||
| 听 | Six Months Ended June 30, 2025 | ||||||||||||||||||||||||||||||
| 听 | City of Dreams | 听 | Studio City | 听 | Altira Macau | 听 | Mocha and Other | 听 | City of Dreams Manila | 听 | City of Dreams Mediterranean and Other | 听 | Corporate and Other | 听 | Total | ||||||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||||||||
| Operating income (loss) | $ | 300,860 | 听 | 听 | $ | 85,462 | 听 | 听 | $ | (2,478 | ) | 听 | $ | (45,748 | ) | 听 | $ | 26,293 | 听 | 听 | $ | (1,220 | ) | 听 | $ | (93,643 | ) | 听 | $ | 269,526 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||
| Payments to the Philippine Parties | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 18,301 | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 18,301 | 听 |
| Integrated resort and casino rent(3) | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 2,802 | 听 | 听 | 听 | - | 听 | 听 | 听 | 3,579 | 听 | 听 | 听 | 6,381 | 听 |
| Pre-opening costs(4) | 听 | 28,461 | 听 | 听 | 听 | 469 | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 10,514 | 听 | 听 | 听 | 39,444 | 听 |
| Development costs | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 5,270 | 听 | 听 | 听 | 5,270 | 听 |
| Depreciation and amortization | 听 | 100,759 | 听 | 听 | 听 | 113,674 | 听 | 听 | 听 | 1,105 | 听 | 听 | 听 | 2,104 | 听 | 听 | 听 | 10,505 | 听 | 听 | 听 | 25,153 | 听 | 听 | 听 | 11,046 | 听 | 听 | 听 | 264,346 | 听 |
| Share-based compensation | 听 | 2,897 | 听 | 听 | 听 | 766 | 听 | 听 | 听 | 212 | 听 | 听 | 听 | 90 | 听 | 听 | 听 | 485 | 听 | 听 | 听 | 205 | 听 | 听 | 听 | 9,781 | 听 | 听 | 听 | 14,436 | 听 |
| Property charges and other | 听 | (11,432 | ) | 听 | 听 | 2,161 | 听 | 听 | 听 | 1,313 | 听 | 听 | 听 | 55,557 | 听 | 听 | 听 | 86 | 听 | 听 | 听 | (111 | ) | 听 | 听 | (388 | ) | 听 | 听 | 47,186 | 听 |
| Adjusted EBITDA | 听 | 421,545 | 听 | 听 | 听 | 202,532 | 听 | 听 | 听 | 152 | 听 | 听 | 听 | 12,003 | 听 | 听 | 听 | 58,472 | 听 | 听 | 听 | 24,027 | 听 | 听 | 听 | (53,841 | ) | 听 | 听 | 664,890 | 听 |
| Corporate and Other expenses | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 53,841 | 听 | 听 | 听 | 53,841 | 听 |
| Adjusted Property EBITDA | $ | 421,545 | 听 | 听 | $ | 202,532 | 听 | 听 | $ | 152 | 听 | 听 | $ | 12,003 | 听 | 听 | $ | 58,472 | 听 | 听 | $ | 24,027 | 听 | 听 | $ | - | 听 | 听 | $ | 718,731 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||
| 听 | Six Months Ended June 30, 2024 | ||||||||||||||||||||||||||||||
| 听 | City of Dreams | 听 | Studio City | 听 | Altira Macau | 听 | Mocha and Other | 听 | City of Dreams Manila | 听 | City of Dreams Mediterranean and Other | 听 | Corporate and Other | 听 | Total | ||||||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||||||||||
| Operating income (loss) | $ | 209,171 | 听 | 听 | $ | 56,737 | 听 | 听 | $ | (3,558 | ) | 听 | $ | 12,388 | 听 | 听 | $ | 32,701 | 听 | 听 | $ | (1,782 | ) | 听 | $ | (56,571 | ) | 听 | $ | 249,086 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||
| Payments to the Philippine Parties | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 19,024 | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 19,024 | 听 |
| Integrated resort and casino rent(3) | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 2,793 | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 2,793 | 听 |
| Pre-opening costs | 听 | 3,673 | 听 | 听 | 听 | 806 | 听 | 听 | 听 | 69 | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 315 | 听 | 听 | 听 | 309 | 听 | 听 | 听 | 5,172 | 听 |
| Development costs | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 2,072 | 听 | 听 | 听 | 2,072 | 听 |
| Depreciation and amortization | 听 | 101,174 | 听 | 听 | 听 | 108,759 | 听 | 听 | 听 | 1,132 | 听 | 听 | 听 | 1,851 | 听 | 听 | 听 | 22,981 | 听 | 听 | 听 | 24,932 | 听 | 听 | 听 | 10,483 | 听 | 听 | 听 | 271,312 | 听 |
| Share-based compensation | 听 | 2,539 | 听 | 听 | 听 | 711 | 听 | 听 | 听 | 227 | 听 | 听 | 听 | 80 | 听 | 听 | 听 | 583 | 听 | 听 | 听 | 211 | 听 | 听 | 听 | 9,609 | 听 | 听 | 听 | 13,960 | 听 |
| Property charges and other | 听 | 2,178 | 听 | 听 | 听 | 148 | 听 | 听 | 听 | 1,544 | 听 | 听 | 听 | (5 | ) | 听 | 听 | 251 | 听 | 听 | 听 | (31 | ) | 听 | 听 | 129 | 听 | 听 | 听 | 4,214 | 听 |
| Adjusted EBITDA | 听 | 318,735 | 听 | 听 | 听 | 167,161 | 听 | 听 | 听 | (586 | ) | 听 | 听 | 14,314 | 听 | 听 | 听 | 78,333 | 听 | 听 | 听 | 23,645 | 听 | 听 | 听 | (33,969 | ) | 听 | 听 | 567,633 | 听 |
| Corporate and Other expenses | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 33,969 | 听 | 听 | 听 | 33,969 | 听 |
| Adjusted Property EBITDA | $ | 318,735 | 听 | 听 | $ | 167,161 | 听 | 听 | $ | (586 | ) | 听 | $ | 14,314 | 听 | 听 | $ | 78,333 | 听 | 听 | $ | 23,645 | 听 | 听 | $ | - | 听 | 听 | $ | 601,602 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||
| Melco Resorts & Entertainment Limited and Subsidiaries | |||||||||||||||
| Reconciliation of Net Income Attributable to Melco Resorts & Entertainment Limited to | |||||||||||||||
| Adjusted EBITDA and Adjusted Property EBITDA (Unaudited) | |||||||||||||||
| (In thousands) | |||||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| 听 | Three Months Ended | 听 | Six Months Ended | ||||||||||||
| 听 | June 30, | 听 | June 30, | ||||||||||||
| 听 | 2025 | 听 | 2024 | 听 | 2025 | 听 | 2024 | ||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||||||
| Net income attributable to Melco Resorts & Entertainment Limited | $ | 17,192 | 听 | 听 | $ | 21,390 | 听 | 听 | $ | 49,724 | 听 | 听 | $ | 36,560 | 听 |
| Net loss attributable to noncontrolling interests | 听 | (7,837 | ) | 听 | 听 | (22,677 | ) | 听 | 听 | (12,622 | ) | 听 | 听 | (37,297 | ) |
| Net income (loss) | 听 | 9,355 | 听 | 听 | 听 | (1,287 | ) | 听 | 听 | 37,102 | 听 | 听 | 听 | (737 | ) |
| Income tax expense | 听 | 11,898 | 听 | 听 | 听 | 8,091 | 听 | 听 | 听 | 16,510 | 听 | 听 | 听 | 11,785 | 听 |
| Interest and other non-operating expenses, net | 听 | 103,403 | 听 | 听 | 听 | 116,932 | 听 | 听 | 听 | 215,914 | 听 | 听 | 听 | 238,038 | 听 |
| Depreciation and amortization | 听 | 133,923 | 听 | 听 | 听 | 134,514 | 听 | 听 | 听 | 264,346 | 听 | 听 | 听 | 271,312 | 听 |
| Property charges and other | 听 | 44,991 | 听 | 听 | 听 | 2,192 | 听 | 听 | 听 | 47,186 | 听 | 听 | 听 | 4,214 | 听 |
| Share-based compensation | 听 | 7,646 | 听 | 听 | 听 | 7,057 | 听 | 听 | 听 | 14,436 | 听 | 听 | 听 | 13,960 | 听 |
| Development costs | 听 | 1,846 | 听 | 听 | 听 | 1,934 | 听 | 听 | 听 | 5,270 | 听 | 听 | 听 | 2,072 | 听 |
| Pre-opening costs(4) | 听 | 27,194 | 听 | 听 | 听 | 2,883 | 听 | 听 | 听 | 39,444 | 听 | 听 | 听 | 5,172 | 听 |
| Integrated resort and casino rent(3) | 听 | 2,906 | 听 | 听 | 听 | 1,045 | 听 | 听 | 听 | 6,381 | 听 | 听 | 听 | 2,793 | 听 |
| Payments to the Philippine Parties | 听 | 9,062 | 听 | 听 | 听 | 10,535 | 听 | 听 | 听 | 18,301 | 听 | 听 | 听 | 19,024 | 听 |
| Adjusted EBITDA | 听 | 352,224 | 听 | 听 | 听 | 283,896 | 听 | 听 | 听 | 664,890 | 听 | 听 | 听 | 567,633 | 听 |
| Corporate and Other expenses | 听 | 25,508 | 听 | 听 | 听 | 18,909 | 听 | 听 | 听 | 53,841 | 听 | 听 | 听 | 33,969 | 听 |
| Adjusted Property EBITDA | $ | 377,732 | 听 | 听 | $ | 302,805 | 听 | 听 | $ | 718,731 | 听 | 听 | $ | 601,602 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Melco Resorts & Entertainment Limited and Subsidiaries | |||||||||||||||
| Supplemental Data Schedule | |||||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| 听 | Three Months Ended | 听 | Six Months Ended | ||||||||||||
| 听 | June 30, | 听 | June 30, | ||||||||||||
| 听 | 2025 | 听 | 2024 | 听 | 2025 | 听 | 2024 | ||||||||
| Room Statistics: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| City of Dreams | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Average daily rate(5) | $ | 217 | 听 | 听 | $ | 209 | 听 | 听 | $ | 217 | 听 | 听 | $ | 207 | 听 |
| Occupancy per available room | 听 | 98 | % | 听 | 听 | 93 | % | 听 | 听 | 98 | % | 听 | 听 | 93 | % |
| Revenue per available room(6) | $ | 212 | 听 | 听 | $ | 194 | 听 | 听 | $ | 213 | 听 | 听 | $ | 194 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Studio City | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Average daily rate(5) | $ | 163 | 听 | 听 | $ | 157 | 听 | 听 | $ | 166 | 听 | 听 | $ | 158 | 听 |
| Occupancy per available room | 听 | 97 | % | 听 | 听 | 96 | % | 听 | 听 | 98 | % | 听 | 听 | 96 | % |
| Revenue per available room(6) | $ | 159 | 听 | 听 | $ | 150 | 听 | 听 | $ | 163 | 听 | 听 | $ | 151 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Altira Macau | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Average daily rate(5) | $ | 130 | 听 | 听 | $ | 129 | 听 | 听 | $ | 132 | 听 | 听 | $ | 131 | 听 |
| Occupancy per available room | 听 | 97 | % | 听 | 听 | 95 | % | 听 | 听 | 97 | % | 听 | 听 | 95 | % |
| Revenue per available room(6) | $ | 126 | 听 | 听 | $ | 123 | 听 | 听 | $ | 128 | 听 | 听 | $ | 124 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| City of Dreams Manila | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Average daily rate(5) | $ | 164 | 听 | 听 | $ | 160 | 听 | 听 | $ | 161 | 听 | 听 | $ | 164 | 听 |
| Occupancy per available room | 听 | 95 | % | 听 | 听 | 97 | % | 听 | 听 | 95 | % | 听 | 听 | 96 | % |
| Revenue per available room(6) | $ | 156 | 听 | 听 | $ | 155 | 听 | 听 | $ | 153 | 听 | 听 | $ | 158 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| City of Dreams Mediterranean and Other | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Average daily rate(5) | $ | 495 | 听 | 听 | $ | 443 | 听 | 听 | $ | 430 | 听 | 听 | $ | 383 | 听 |
| Occupancy per available room | 听 | 62 | % | 听 | 听 | 61 | % | 听 | 听 | 60 | % | 听 | 听 | 58 | % |
| Revenue per available room(6) | $ | 306 | 听 | 听 | $ | 272 | 听 | 听 | $ | 257 | 听 | 听 | $ | 221 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Other Information: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| City of Dreams | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Average number of table games | 听 | 437 | 听 | 听 | 听 | 430 | 听 | 听 | 听 | 434 | 听 | 听 | 听 | 430 | 听 |
| Average number of gaming machines | 听 | 616 | 听 | 听 | 听 | 603 | 听 | 听 | 听 | 622 | 听 | 听 | 听 | 624 | 听 |
| Table games win per unit per day(7) | $ | 18,876 | 听 | 听 | $ | 15,714 | 听 | 听 | $ | 18,572 | 听 | 听 | $ | 15,490 | 听 |
| Gaming machines win per unit per day(8) | $ | 505 | 听 | 听 | $ | 510 | 听 | 听 | $ | 507 | 听 | 听 | $ | 491 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Studio City | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Average number of table games | 听 | 253 | 听 | 听 | 听 | 252 | 听 | 听 | 听 | 253 | 听 | 听 | 听 | 249 | 听 |
| Average number of gaming machines | 听 | 724 | 听 | 听 | 听 | 641 | 听 | 听 | 听 | 760 | 听 | 听 | 听 | 656 | 听 |
| Table games win per unit per day(7) | $ | 14,143 | 听 | 听 | $ | 13,563 | 听 | 听 | $ | 13,734 | 听 | 听 | $ | 13,300 | 听 |
| Gaming machines win per unit per day(8) | $ | 516 | 听 | 听 | $ | 476 | 听 | 听 | $ | 486 | 听 | 听 | $ | 456 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Altira Macau | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Average number of table games | 听 | 30 | 听 | 听 | 听 | 39 | 听 | 听 | 听 | 33 | 听 | 听 | 听 | 41 | 听 |
| Average number of gaming machines | 听 | 131 | 听 | 听 | 听 | 139 | 听 | 听 | 听 | 133 | 听 | 听 | 听 | 137 | 听 |
| Table games win per unit per day(7) | $ | 9,277 | 听 | 听 | $ | 7,890 | 听 | 听 | $ | 8,203 | 听 | 听 | $ | 8,330 | 听 |
| Gaming machines win per unit per day(8) | $ | 242 | 听 | 听 | $ | 276 | 听 | 听 | $ | 276 | 听 | 听 | $ | 260 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Mocha and Other | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Average number of table games | 听 | 15 | 听 | 听 | 听 | 16 | 听 | 听 | 听 | 15 | 听 | 听 | 听 | 17 | 听 |
| Average number of gaming machines | 听 | 835 | 听 | 听 | 听 | 912 | 听 | 听 | 听 | 845 | 听 | 听 | 听 | 905 | 听 |
| Table games win per unit per day(7) | $ | 6,115 | 听 | 听 | $ | 7,629 | 听 | 听 | $ | 6,502 | 听 | 听 | $ | 6,674 | 听 |
| Gaming machines win per unit per day(8) | $ | 270 | 听 | 听 | $ | 254 | 听 | 听 | $ | 279 | 听 | 听 | $ | 273 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| City of Dreams Manila | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Average number of table games | 听 | 264 | 听 | 听 | 听 | 269 | 听 | 听 | 听 | 266 | 听 | 听 | 听 | 269 | 听 |
| Average number of gaming machines | 听 | 2,259 | 听 | 听 | 听 | 2,277 | 听 | 听 | 听 | 2,266 | 听 | 听 | 听 | 2,279 | 听 |
| Table games win per unit per day(7) | $ | 2,734 | 听 | 听 | $ | 3,049 | 听 | 听 | $ | 2,566 | 听 | 听 | $ | 2,935 | 听 |
| Gaming machines win per unit per day(8) | $ | 223 | 听 | 听 | $ | 232 | 听 | 听 | $ | 237 | 听 | 听 | $ | 253 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| City of Dreams Mediterranean and Other | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Average number of table games | 听 | 106 | 听 | 听 | 听 | 102 | 听 | 听 | 听 | 106 | 听 | 听 | 听 | 103 | 听 |
| Average number of gaming machines | 听 | 883 | 听 | 听 | 听 | 891 | 听 | 听 | 听 | 885 | 听 | 听 | 听 | 890 | 听 |
| Table games win per unit per day(7) | $ | 3,684 | 听 | 听 | $ | 2,908 | 听 | 听 | $ | 3,390 | 听 | 听 | $ | 2,941 | 听 |
| Gaming machines win per unit per day(8) | $ | 406 | 听 | 听 | $ | 334 | 听 | 听 | $ | 389 | 听 | 听 | $ | 325 | 听 |
| (5) | Average daily rate is calculated by dividing total room revenues including complimentary rooms (less service charges, if any) by total occupied rooms including complimentary rooms |
| (6) | Revenue per available room is calculated by dividing total room revenues including complimentary rooms (less service charges, if any) by total rooms available |
| (7) | Table games win per unit per day is shown before discounts, commissions, non-discretionary incentives (including our point-loyalty programs) and allocating casino revenues related to goods and services provided to gaming patrons on a complimentary basis |
| (8) | Gaming machines win per unit per day is shown before non-discretionary incentives (including our point-loyalty programs) and allocating casino revenues related to goods and services provided to gaming patrons on a complimentary basis |
FAQ
What were Melco's (MLCO) key financial results for Q2 2025?
How did City of Dreams Macau perform in Q2 2025?
What is Melco's (MLCO) debt position as of Q2 2025?
What major developments did Melco announce for 2025?
How did Melco's Philippines operations perform in Q2 2025?
