The City of Dreams IR is a major factor in Melco Resorts ranking as it generated MOP6.4 billion
According to the newspaper – Tribuna de Macau, City of Dreams was hugely responsible for the percentage of gaming revenue generated by gaming operator Melco resorts in Macau SAR for the first three quarters of 2020.
For these three quarters Melco resorts recorded the highest share of local gaming revenues with Sands China, Galaxy Entertainment Group and more following suit:
- Melco Resorts – 24.6%
- Sands China – 19.5%
- Galaxy Entertainment Group – 18.8%
- SJM Holdings – 16%
- Wynn Macau – 12.5%
- MGM – 8.6%
The recorded results for the first three quarters are a first for Melco Resorts as Sands China and Galaxy Entertainment were the companies that used to hold the top spots, registering more than half of the reported results. Melco Resorts saw its net income increase to P496.6million for the nine months when compared to a P1.59 billion net loss in the same period last year.
"In the Philippines, City of Dreams Manila continues to enjoy strong year-on-year growth across all gaming segments, which enabled the property to deliver over 27% year-over-year growth in adjusted property EBITDA (earnings before interest, tax, depreciation, and amortization), despite new supply in the Philippines," Melco chairman and chief executive officer Lawrence Ho said.
The City of Dreams luxury integrated resort is the main reason why Melco is ranked number one on top of these established names. City of Dreams generated MOP6.4 billion, with Galaxy Macau and Venetian generating MOP5 billion and MOP2.8 billion respectively.
The integrated resort currently has 289 gaming tables, 1,620 slot machines and 176 electronic table games which have all contributed heavily to the year-on-year growth.
Following the UK’s December 2020 release of the Pfizer BioNTech vaccine, SiGMA Group will move its February event to April. SiGMA Europe, which will be based in Malta, will now run from 13-15 April, 2021