Melco International Development Limited (“Melco International” or the “Company”, together with its subsidiaries (collectively the “Group”), HKEx Code: 200) today announced its annual results for the year ended 31 December 2024.
The Group’s net revenues totalled HK$36.17 billion for the year ended 31 December 2024, an increase of 22.5% compared to HK$29.53 billion recorded in 2023. The increase was primarily attributable to the continued recovery in inbound tourism to Macau in 2024 and the ramp up of operations following the opening of Studio City Phase 2 starting in April 2023 and City of Dreams Mediterranean in mid-2023 which led to improved performance in its casino and hospitality operations for the year ended 31 December 2024. The Group generated Adjusted EBITDA of HK$9.03 billion in 2024, compared to HK$7.51 billion in 2023. Loss attributable to owners of the Company was HK$0.78 billion in 2024, compared to HK$1.74 billion in 2023. The Board does not recommend the payment of a final dividend for the year ended 31 December 2024.
Mr. Lawrence Ho, Group Chairman and Chief Executive Officer of Melco International, said, “In 2024, we pursued strategic expansion and refinement to invest in a brighter future. I am pleased to report that our efforts are beginning to yield results, marking a meaningful market gain and we expect this positive momentum to continue into 2025.
“In Macau, we are encouraged by the market’s robust tourism recovery, with visitor volumes approaching pre-pandemic levels. To meet the evolving demands of the growing middle class, we focused on elevating the premium experience through innovative investments. The launch of new attractions including Studio City Cinema, continuous enhancements in property engagement, alongside a revitalised loyalty program, have reinforced our commitment to providing industry-leading guest engagement.
“Beyond Macau, our diversified portfolio continues to demonstrate resilience and strategic value. Performance of City of Dreams Manila remained solid throughout 2024, supported by increased international visitor arrivals and tourism revenue from inbound tourism expenditures, as well as the government’s heightened commitment to tourism development. In Cyprus, despite regional challenges, operational upgrades at City of Dreams Mediterranean and our satellite casinos have driven measurable performance improvements. Meanwhile, we look forward to the opening of the casino at City of Dreams Sri Lanka, which is set to launch in the third quarter of 2025. The project represents a capital-light investment with an attractive return profile, allowing us to extend the City of Dreams brand and broaden our customer base.
“Looking ahead, we are excited about the grand return of ‘House of Dancing Water’ in May 2025, as a cultural milestone that will enrich Macau’s artistic landscape and amplify City of Dreams’ appeal. Guided by our asset-light strategy, we also remain proactive in evaluating partnerships and exploring emerging markets. I am confident in the Group’s resilience and look forward to our continued success in achieving our visionary goals in the coming fiscal year.”
Unprecedented Recognition in Hospitality Excellence
The Group solidified its leadership in luxury hospitality with a record-breaking 107 Stars from the 2025 Forbes Travel Guide, including 19 Five-Star awards across its properties, leading among integrated resorts in Asia and topping the competition across all of Macau. Culinary mastery shone brightly as eight MICHELIN Stars were awarded to five signature restaurants, cementing the Group’s dominance in Macau’s gourmet scene. W Macau – Studio City further elevated the Group’s global prestige, named among the World’s Most Beautiful Hotels by Prix Versailles.
Pioneering Contributions to the Community
The Group’s commitment to nurturing talent and fostering community well-being earned international acclaim. Its ‘Whole Person Development’ philosophy was recognised by the Association for Talent Development with the prestigious BEST Award, while its ‘Culinary Foundation Acceleration Program’ has empowered 42 local talents since its launch in 2021, with over 55% being promoted in their new roles. The Group’s steadfast dedication to societal contribution through its signature initiative, ‘Simple Acts of Kindness’, also earned recognition at the IAG Academy IR Awards for Best Overall CSR Program and Best CSR Initiative. In addition, six of the Group’s restaurants at City of Dreams, Studio City and Altira Macau have been recognised for their excellence in safety within the catering industry under the ‘Catering Industry Occupational Safety and Health Program’ launched by the Macau Labour Affairs Bureau.
Sustainability Leadership and Green Innovation
The Group’s sustainability milestones positioned it as an industry pioneer. Melco Resorts & Entertainment Limited was named an Industry Mover in the S&P Global Sustainability Yearbook 2025, and the Group received a Merit in both the Best in ESG Award and Theme Award categories at the BDO ESG Awards 2024. Studio City Phase 2 achieved the Building Research Establishment Environmental Assessment Method (BREEAM) ‘Excellent’ rating for New Construction in 2025, and is the first BREEAM certified project in China under the category International 2016 New Construction: Bespoke scheme with an ‘Excellent’ rating. City of Dreams Mediterranean was recognised as Luxury Sustainable Resort – Cyprus at the World Luxury Hotel Awards 2024, setting a high benchmark for the integration of sustainability and luxury.
