Melco Resorts Reports Third-Quarter Net Income of US$34,000 on Macau Revenue Contraction

Melco Resorts & Entertainment Ltd recorded net income of US$34,000 for the third quarter of 2026. The result is down from US$74.7 million in the prior-year period and US$22.7 million in the second quarter. Group-wide operating revenues fell 10.4 percent year-on-year to US$1.17 billion, according to GGRAsia.

Casino revenues decreased 11.5 percent to US$939.2 million. The operator attributed the declines to softer rolling chip and mass-market table games volumes plus reduced non-gaming revenue. Group adjusted property EBITDA contracted 24.4 percent to US$287.6 million while operating expenses eased 4.6 percent to US$1.07 billion.

Property Performance

City of Dreams Macau generated operating revenues of US$566.2 million, down from US$672.6 million a year earlier. Adjusted EBITDA fell to US$130.3 million from US$206.9 million. Rolling chip volume totaled US$4.63 billion versus US$5.58 billion previously. The year-on-year EBITDA decrease stemmed primarily from weaker rolling chip and mass-market table games performance.

City of Dreams Manila posted revenues of US$99.0 million, a 10.6 percent decline. Its adjusted EBITDA dropped 20.3 percent to US$32.9 million. Cyprus operations reported revenues of US$96.7 million and adjusted EBITDA of US$25.7 million, up 10.8 percent on stronger mass-market play. Sri Lanka contributed revenues of US$17.6 million and EBITDA of US$4.0 million, improved from negative US$0.6 million.

Financial Position and Corporate Moves

Cash and bank balances stood at US$886.6 million as of September 30, 2026, including US$124.2 million restricted. Total debt net of financing adjustments reached US$6.98 billion. Melco repurchased 33.1 million American depositary shares for US$160.0 million between July 1 and November 3. The Studio City land concession was renewed for ten years to October 16, 2036, following a special contribution of US$10.6 million.

Lawrence Ho Yau Lung, chairman and chief executive of Melco Resorts, said the company remains "focused on disciplined execution of our strategy to drive strong returns." The phased opening of the REM hotel at City of Dreams Macau and retail space renovations will support capture of evolving customer demand, Ho added.