Lawrence Ho downplays money exchange crackdown on soft revenues

elco

In an earnings call with analysts, Ho said some growth in July had been noted notwithstanding softness in June, and observed that August was off to a very good start.

Melco’s revenues up 22% y-o-y

Melco’s second quarter total operating revenues were USD1.16 billion, representing an increase of approximately 22% from USD947.9 million for the comparable period in 2023.

The increase in total operating revenues was primarily attributable to the improved performance in the mass market segment and non-gaming operations, led by the continued recovery in inbound tourism during the second quarter of the year.

Melco generated Adjusted Property EBITDA of USD302.8 million in the second quarter of 2024, compared with Adjusted Property EBITDA of USD267.3 million in the second quarter of 2023.

Lawrence Ho, chairman and CEO, commented, “Our strategic initiatives to expand revenue and profitability, and drive growth continued to evolve in the second quarter of 2024. We’ve seen growth in GGR quarter-to-quarter and year-over-year, and our teams are focused on driving the continued expansion of our market position.”

Lawrence Ho downplays money exchange crackdown on soft revenues

Lawrence Ho downplays money exchange crackdown on soft revenues

Lawrence Ho downplays money exchange crackdown on soft revenues

Lawrence Ho downplays money exchange crackdown on soft revenues

Lawrence Ho downplays money exchange crackdown on soft revenues