Melco International Development Limited (“Melco International” or the “Company”, together with its subsidiaries (collectively the “Group”), HKEx Code: 200) today announced its interim results for the six months ended 30 June 2024.
For the six months ended 30 June 2024, the Group’s net revenues totalled HK$17.77 billion, an increase of 36.3% compared to HK$13.04 billion recorded in the corresponding period of 2023. The increase was primarily attributable to the continued recovery in inbound tourism to Macau which led to improved performance in our casino and hospitality operations in the six months ended 30 June 2024. The Group generated Adjusted EBITDA of HK$4.49 billion for the six months ended 30 June 2024, compared to Adjusted EBITDA of HK$3.20 billion for the corresponding period of 2023. Loss for the period was HK$0.44 billion, compared with a loss of HK$1.40 billion in the same period of 2023. The Board does not recommend the payment of an interim dividend for the six months ended 30 June 2024.
Mr. Lawrence Ho, Group Chairman and Chief Executive Officer of Melco International, said, “Throughout the first half of 2024, the business improvement momentum continued, fueled by the Group’s strategic initiatives aimed at expanding revenue streams, enhancing profitability, and fostering sustainable growth.
“As part of the commitment to delivering unparalleled experiences to esteemed patrons in Macau, significant investments have been made in the workforce and property enhancements. These endeavours are geared towards ensuring the utmost premium experience available within the region. Notably, Studio City Cinema was introduced in June 2024, marking the debut of the first Dolby Cinema in Macau and Hong Kong.
“In the Philippines, City of Dreams Manila has maintained its solid performance. In Cyprus, City of Dreams Mediterranean has implemented significant property upgrades post-opening. Positive momentum at City of Dreams Mediterranean and the satellite casinos in Cyprus continued.
“The Group is committed to expanding its footprint and delivering exceptional leisure and entertainment offerings on a global scale. The Group announced its strategic partnership with John Keells Holdings PLC to establish Sri Lanka’s inaugural integrated resort, City of Dreams Sri Lanka. This transformative project represents a capital-light investment with an appealing return profile, enabling the Group to extend the City of Dreams brand and broaden its customer base.
“Looking ahead, the Group remains confident in its long-term prospects across regions, while standing ready to navigate near-term uncertainties and challenges in a prudent and agile manner.”
Unwavering Commitment to Excellence
The Group’s commitment to honouring innovation, creativity, reflections of local heritage and ecological efficiency in hotel construction has garnered widespread recognition. Studio City is home to one of the World’s Most Beautiful Hotels, as recognised by UNESCO’s World Architecture and Design Award, the Prix Versailles. This prestigious accolade was bestowed upon W Macau – Studio City located at the cinematically themed resort Studio City, making it the Group’s second integrated resort to receive this honour alongside City of Dreams.
Investing in Local Talent and Industry Diversification
Committed to nurturing local talent and advancing the diversification of the integrated resort industry, the Group has embraced the “Whole Person Development” philosophy, a holistic and systematic system for fostering the development and growth of its human capital. In recognition of this exemplary talent development initiative, the Group has been honoured with the 2024 BEST Award by the Association for Talent Development (ATD). This marks the third consecutive year that the Group has been lauded by the prestigious ATD for its exceptional training practices.
Creating Welcoming Experiences for All Guests
Placing great emphasis on promoting inclusivity, Studio City has been designated as the first Certified Autism Center (CAC)™ in Macau for its attractions including Golden Reel, Super Fun Zone and Studio City Water Park. The certification awarded by the International Board of Credentialing and Continuing Education Standards (IBCCES) acknowledges that Studio City attractions are dedicated to and well-equipped for serving autistic guests and their families.
