Melco reports Q3 net income of US$34,000 as revenue falls 10.4%
Results2 min read
In brief
- Melco Resorts reported third-quarter net income of US$34,000, against about US$74.7m in the prior-year period.
- Group-wide operating revenues fell 10.4% year on year, to about US$1.17bn.
- The company attributed the fall mainly to softer rolling chip and mass-market table game performance and non-gaming operations.
Third-quarter net income at Melco Resorts & Entertainment came to US$34,000, the firm said on Wednesday. The prior-year period had seen approximately US$74.7m, so the latest result was a sharp decline. The result was also a significant decrease from the just under US$22.7m of net income Melco Resorts had recorded in the second quarter of 2026.
Revenues across the group for July to September 2026 dropped 10.4% from a year before, reaching about US$1.17bn. The firm blamed the drop mainly on weaker results in rolling chip and mass-market tables, along with non-gaming operations as a whole. Group-wide casino operating revenues were down 11.5% from a year earlier, at nearly US$939.2m. Total operating expenses fell 4.6% in the three months to 30 September, to about US$1.07bn. Group-wide adjusted property EBITDA shrank 24.4% year on year, to nearly US$287.6m.
City of Dreams Macau took in US$566.2m in operating revenues in the three months ended 30 September, against US$672.6m a year earlier. Adjusted EBITDA at the property was US$130.3m in the reporting period, down from US$206.9m in the third quarter of 2025. The company said the year-on-year drop in adjusted EBITDA mainly reflected weaker rolling chip and mass-market table game results. Rolling chip volume fell to US$4.63bn in the third quarter of 2026 from US$5.58bn a year ago.
Quarterly operating revenues at City of Dreams Manila fell 10.6% from a year earlier, to US$99.0m. Adjusted EBITDA at the Manila property dropped 20.3%, to US$32.9m. Operating revenues of the Cyprus business for the quarter were US$96.7m, against US$85.8m in the second quarter of 2025.
Chairman and chief executive Lawrence Ho Yau Lung was quoted in the results announcement saying the company is concentrating on carrying out its strategy in a disciplined way to deliver strong returns. He also mentioned the launch of the newly branded hotel REM and the renovation of retail space at City of Dreams. REM, the company's latest luxury hotel at City of Dreams in Macau, began a phased opening in the third quarter. The group's casinos are located in Macau, Manila and the Republic of Cyprus. A new casino opened in Colombo, the Sri Lankan capital, in the third quarter of last year.