Melco reports 10.4% revenue decline to US$1.17bn in Q3 2026

Total operating revenues at Melco Resorts & Entertainment declined 10.4% year-on-year to US$1.17 billion in the three months to 30 September 2026. The company attributed the fall mainly to continued softness in Macau gaming. The Q3 result was 6.4% below the June 2026 quarter. Melco said Macau's rolling chip and mass table play was softer, and that non-gaming operations overall were weaker.

Group-wide, Adjusted Property EBITDA fell 24.4% year on year to US$287.6m, and net income was US$34,000. Net loss attributable to non-controlling interests was US$9.1m, against a net loss of US$12.6m a year earlier.

City of Dreams Manila's total GGR fell 9% year on year to US$114m. VIP GGR dropped 13% year on year to US$20m, and mass GGR also fell 13% to US$45m. Slots GGR slipped 3% to US$49m, and Adjusted EBITDA declined 20% to US$33m.

City of Dreams Mediterranean's total GGR rose 13% year-on-year and 16% sequentially to US$88 million, even though VIP GGR fell into negative territory. The property's mass GGR showed a 21% year-on-year and 28% sequential improvement to US$50 million. Slots GGR rose 5% year-on-year to US$38 million, also up 3% on the June 2026 quarter. Adjusted EBITDA was 11% higher year-on-year at US$26 million.

Lawrence Ho, Melco's chairman and CEO, said the company remains confident in the long-term prospects of its Macau businesses. The opening of the newly branded hotel REM and the retail renovation at City of Dreams were also cited in that context. The executive added that City of Dreams Mediterranean and the satellite casinos achieved record quarterly EBITDA.