Melco Resorts Announces Unaudited Third Quarter 2026 Earnings
Quarterly net income attributable to Melco fell to US$34 thousand, while Mediterranean operations and Other Operations improved.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Melco Resorts & Entertainment (Nasdaq: MLCO) reported third-quarter 2026 operating revenue of US$1.17 billion, down approximately 10% year over year. Operating income fell to US$100.2 million from US$184.5 million. Net income attributable to Melco was US$34 thousand, versus US$74.7 million a year earlier. Adjusted Property EBITDA, a non-GAAP earnings measure excluding interest, taxes and specified costs, declined to US$287.6 million from US$380.4 million.
City of Dreams, Studio City and Manila posted lower revenue and adjusted earnings, while Mediterranean operations and Other Operations improved. At September 30, debt was US$6.98 billion and available liquidity was approximately US$1.95 billion. Melco repurchased approximately US$160.0 million of ADSs from July 1 through November 3. Studio City's land concession was renewed through October 16, 2036, with a US$10.6 million-equivalent special contribution.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Major pointShare repurchases totaled approximately US$160.0 million for approximately 33.1 million ADSs from July 1–November 3, 2026. 10% of market cap
- Moderate pointStudio City's land concession was renewed for ten years, October 17, 2026–October 16, 2036.
- Minor pointRemaining equity repurchase authority was up to approximately US$487.0 million on November 3, 2026.
- Minor pointMediterranean and Other Q3 revenue rose to US$96.7 million from US$85.8 million in 2025.
- Minor pointMediterranean and Other Q3 adjusted EBITDA rose to US$25.7 million from US$23.2 million in 2025.
16 minor points
- Minor pointOther Operations Q3 revenue increased to US$17.6 million from US$6.1 million in 2025.
- Minor pointOther Operations Q3 adjusted EBITDA reached US$4.0 million, versus negative US$0.6 million in 2025.
- Minor pointAltira Macau Q3 revenue increased to US$31.3 million from US$25.6 million in 2025.
- Minor pointAltira Macau Q3 adjusted EBITDA improved to negative US$0.3 million from negative US$0.7 million in 2025.
- Minor pointCity of Dreams Q3 gaming machine win rate increased to 3.6% from 3.2% in 2025.
- Minor pointStudio City Q3 mass-market table hold increased to 34.3% from 33.1% in 2025.
- Minor pointStudio City Q3 gaming machine wagers increased to US$892.9 million from US$873.3 million in 2025.
- Minor pointAltira Macau Q3 mass-market table buy-ins increased to US$145.2 million from US$112.6 million in 2025.
- Minor pointAltira Macau Q3 mass-market table hold increased to 20.0% from 19.4% in 2025.
- Minor pointAltira Macau Q3 gaming machine wagers increased to US$240.4 million from US$119.6 million in 2025.
- Minor pointAltira Macau Q3 non-gaming revenue increased to US$5.5 million from US$5.1 million in 2025.
- Minor pointMediterranean and Other Q3 mass-market table buy-ins increased to US$220.6 million from US$188.5 million in 2025.
- Minor pointMediterranean and Other Q3 mass-market table hold increased to 22.6% from 21.8% in 2025.
- Minor pointMediterranean and Other Q3 gaming machine wagers increased to US$759.0 million from US$690.9 million in 2025.
- Minor pointMediterranean and Other Q3 non-gaming revenue increased to US$33.6 million from US$30.4 million in 2025.
- Minor pointQ3 net foreign exchange gains of US$3.7 million partially offset non-operating expenses.
Negative
- Major pointQ3 attributable net income fell to US$34 thousand from US$74.7 million in 2025.
- Major pointQ3 adjusted property EBITDA declined to US$287.6 million from US$380.4 million in 2025.
- Major pointQ3 net facility drawdowns added US$555.0 million at MCO Nominee One and US$135.4 million at SCC.
- Moderate pointQ3 operating revenue fell approximately 10% to US$1.17 billion from US$1.31 billion in 2025.
- Moderate pointQ3 operating income declined to US$100.2 million from US$184.5 million in 2025.
- Moderate pointDebt, net of unamortized financing costs and original issue premiums, totaled US$6.98 billion at September 30, 2026.
- Moderate pointQ3 interest expense, net of capitalized amounts, was US$110.8 million.
34 minor points
- Minor pointQ3 earnings per ADS fell to US$0.00009 from US$0.19124 in 2025.
- Minor pointQ3 depreciation and amortization costs totaled US$138.3 million.
- Minor pointCity of Dreams Q3 revenue fell to US$566.2 million from US$672.6 million in 2025.
- Minor pointCity of Dreams Q3 adjusted EBITDA fell to US$130.3 million from US$206.9 million in 2025.
- Minor pointStudio City Q3 revenue declined to US$346.2 million from US$375.3 million in 2025.
- Minor pointStudio City Q3 adjusted EBITDA declined to US$90.6 million from US$104.7 million in 2025.
- Minor pointManila Q3 revenue fell to US$99.0 million from US$110.7 million in 2025.
- Minor pointManila Q3 adjusted EBITDA fell to US$32.9 million from US$41.3 million in 2025.
- Minor pointMocha Q3 revenue was US$15.3 million, versus US$28.6 million for Mocha and Other in 2025.
- Minor pointMocha Q3 adjusted EBITDA was US$4.3 million, versus US$5.8 million for Mocha and Other in 2025.
- Minor pointGrand Dragon closed in September 2025; three Mocha Clubs ceased operations September–December 2025 under government-mandated closures.
- Minor pointStudio City's land-concession renewal required a special contribution of MOP85.7 million, equivalent to US$10.6 million.
- Minor pointQ3 capital expenditures totaled US$83.0 million, mainly for property enhancement projects.
- Minor pointCity of Dreams Q3 rolling-chip betting volume fell to US$4.63 billion from US$5.58 billion in 2025.
- Minor pointCity of Dreams Q3 rolling-chip win rate fell to 2.49% from 3.68%; expected range: 2.85%–3.15%.
- Minor pointCity of Dreams Q3 mass-market table buy-ins fell to US$1.63 billion from US$1.66 billion in 2025.
- Minor pointCity of Dreams Q3 mass-market table hold fell to 29.5% from 29.8% in 2025.
- Minor pointCity of Dreams Q3 gaming machine wagers fell to US$1.01 billion from US$1.04 billion in 2025.
- Minor pointCity of Dreams Q3 non-gaming revenue fell to US$88.4 million from US$94.8 million in 2025.
- Minor pointStudio City Q3 mass-market table buy-ins fell to US$846.3 million from US$942.5 million in 2025.
- Minor pointStudio City Q3 gaming machine win rate fell to 3.4% from 3.7% in 2025.
- Minor pointStudio City Q3 non-gaming revenue fell to US$80.4 million from US$85.9 million in 2025.
- Minor pointAltira Macau Q3 gaming machine win rate fell to 2.8% from 3.1% in 2025.
- Minor pointMocha Q3 gaming machine wagers fell to US$386.8 million from US$522.6 million in 2025.
- Minor pointManila Q3 rolling-chip betting volume fell to US$484.5 million from US$516.9 million in 2025.
- Minor pointManila Q3 rolling-chip win rate fell to 4.09% from 4.37%, remaining above the expected 2.85%–3.15% range.
- Minor pointManila Q3 mass-market table buy-ins fell to US$134.9 million from US$144.1 million in 2025.
- Minor pointManila Q3 mass-market table hold fell to 33.6% from 36.0% in 2025.
- Minor pointManila Q3 gaming machine wagers fell to US$954.4 million from US$985.7 million in 2025.
- Minor pointManila Q3 non-gaming revenue fell to US$22.8 million from US$24.1 million in 2025.
- Minor pointMediterranean and Other Q3 rolling-chip betting volume fell to US$0.3 million from US$1.4 million in 2025.
- Minor pointMediterranean and Other Q3 rolling-chip win rate fell to negative 15.34% from 6.94%, reflecting low volumes.
- Minor pointMediterranean and Other Q3 gaming machine win rate fell to 5.0% from 5.3% in 2025.
- Minor pointMCO Nominee One drew another HK$118.0 million, equivalent to US$15.0 million, on October 28, 2026.
News Explained
The note redemptions are completed, while up to US$487.0 million of remaining repurchase authority is permission for possible future purchases.
Melco reports completed redemptions of
The 2027 notes were funded with a
As of
Key Figures
- Total operating revenues
- US$1.17 billion
- Q3 2026; compared with US$1.31 billion in Q3 2025
- Operating income
- US$100.2 million
- Q3 2026; compared with US$184.5 million in Q3 2025
- Adjusted Property EBITDA
- US$287.6 million
- Q3 2026; compared with US$380.4 million in Q3 2025
- Net income attributable
- US$34 thousand; US$0.00009 per ADS
- Q3 2026; compared with US$74.7 million and US$0.19124 per ADS in Q3 2025
- Net non-operating expenses
- US$107.7 million
- Q3 2026
- Cash and bank balances
- US$886.6 million, including US$124.2 million of restricted cash
- As of September 30, 2026
- Total debt
- US$6.98 billion
- At the end of Q3 2026; net of unamortized deferred financing costs and original issue premiums
Previous Earnings Reports
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Revenue and Adjusted Property EBITDA declined, while attributable net income increased.
-
Revenue, operating income, Adjusted Property EBITDA and attributable net income were reported higher.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
ads financial
non-gaap financial measures financial
senior notes financial
revolving credit facilities financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
MACAU, Nov. 04, 2026 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (“Melco Resorts” or the “Company”), a developer, owner, and operator of integrated resort facilities in Asia and Europe, today reported its unaudited financial results for the third quarter of 2026.
Total operating revenues for the third quarter of 2026 were US
Operating income for the third quarter of 2026 was US
Melco Resorts’ Adjusted Property EBITDA(1) was US
Net income attributable to Melco Resorts & Entertainment Limited for the third quarter of 2026 was US
Mr. Lawrence Ho, our Chairman and Chief Executive Officer, commented, “We continue to be confident in the long-term prospects of our businesses in Macau. We are focused on disciplined execution of our strategy to drive strong returns. Our distinctive product portfolio in Macau reflects the best in luxury and innovation. Coupled with the opening of our newly branded hotel REM and the renovation of our retail space at City of Dreams, we believe we are well positioned to capture the demands of our evolving customer base, supporting long-term growth.
“In the Philippines and Cyprus, our properties continued to demonstrate resilience despite the ongoing headwinds in those countries and regions. In particular, City of Dreams Mediterranean and our satellite casinos delivered its highest quarterly EBITDA on record.”
City of Dreams Third Quarter Results
For the quarter ended September 30, 2026, total operating revenues at City of Dreams were US
Rolling chip volume decreased to US
Mass market table games drop decreased to US
Gaming machine handle for the third quarter of 2026 was US
Total non-gaming revenue at City of Dreams in the third quarter of 2026 was US
Studio City Third Quarter Results
For the quarter ended September 30, 2026, total operating revenues at Studio City were US
Mass market table games drop was US
Gaming machine handle for the third quarter of 2026 was US
Total non-gaming revenue at Studio City was US
Altira Macau Third Quarter Results
For the quarter ended September 30, 2026, total operating revenues at Altira Macau were US
Mass market table games drop was US
Gaming machine handle for the third quarter of 2026 was US
Total non-gaming revenue at Altira Macau was US
Mocha Third Quarter Results
Prior to the fourth quarter of 2025, the Mocha and Other segment included the operations of Grand Dragon Casino before its closure in September 2025. This segment has been renamed to the Mocha segment from the fourth quarter of 2025 onwards.
Following the government mandated closures of three Mocha Clubs ceasing operations from September to December 2025, the Mocha segment now includes results for the remaining three Mocha Clubs, namely Mocha Inner Harbour, Mocha Golden Dragon and Mocha Hotel Sintra.
Total operating revenues from Mocha were US
Gaming machine handle for the third quarter of 2026 was US
City of Dreams Manila Third Quarter Results
For the quarter ended September 30, 2026, total operating revenues at City of Dreams Manila were US
City of Dreams Manila’s rolling chip volume was US
Mass market table games drop decreased to US
Gaming machine handle for the third quarter of 2026 was US
Total non-gaming revenue at City of Dreams Manila in the third quarter of 2026 was US
City of Dreams Mediterranean and Other Third Quarter Results
The Company operates City of Dreams Mediterranean in conjunction with three satellite casinos in Cyprus.
Total operating revenues at City of Dreams Mediterranean and Other for the quarter ended September 30, 2026 were US
Rolling chip volume was US
Mass market table games drop was US
Gaming machine handle for the third quarter of 2026 was US
Total non-gaming revenue at City of Dreams Mediterranean and Other in the third quarter of 2026 was US
Other Operations
Other Operations include the Company’s casino operations and provision of management services to the Nüwa hotel at City of Dreams Sri Lanka.
Total operating revenues from Other Operations were US
Other Factors Affecting Earnings
Total net non-operating expenses for the third quarter of 2026 were US
Depreciation and amortization costs of US
Adjusted EBITDA for Studio City for the three months ended September 30, 2026 referred to above was US
Financial Position and Capital Expenditures
Total cash and bank balances as of September 30, 2026 aggregated to US
Total debt, net of unamortized deferred financing costs and original issue premiums, was US
On July 18, 2026, Studio City Finance Limited redeemed an aggregate principal amount of US
On September 23, 2026, Melco Resorts Finance Limited early redeemed its outstanding aggregate principal amount of US
During the quarter ended September 30, 2026, MCO Nominee One Limited drew down HK
Subsequent to quarter end, on October 28, 2026, MCO Nominee One Limited drew down HK
Available liquidity, including cash and undrawn revolving credit facilities as of September 30, 2026, was approximately US
Capital expenditures for the third quarter of 2026 were US
Share Repurchase Programs
During the period from July 1, 2026 to November 3, 2026, Melco Resorts repurchased approximately 33.1 million ADSs (representing approximately 99.2 million ordinary shares) from the open market at an aggregate purchase price of approximately US
Recent Developments
The land concession for the land on which Studio City is located was renewed for a term of ten years from October 17, 2026 to October 16, 2036 pursuant to the payment of a special contribution in the amount of MOP85.7 million (equivalent to US
Conference Call Information
Melco Resorts & Entertainment Limited will hold a conference call to discuss its third quarter 2026 financial results on Wednesday, November 4, 2026 at 8:30 a.m. Eastern Time (or 9:30 p.m. Singapore Time).
To join the conference call, please register in advance using the below Online Registration Link. Upon registering, each participant will receive the dial-in numbers, passcode and a unique Personal PIN which can be used to join the conference.
Online Registration Link: https://s1.c-conf.com/diamondpass/10057839-p2o4ar.html
An audio webcast and replay of the conference call will also be available at http://www.melco-resorts.com.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Melco Resorts & Entertainment Limited (the “Company”) may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to, (i) changes in the gaming market and visitations in Macau, the Philippines, the Republic of Cyprus and Sri Lanka, (ii) local and global economic conditions, (iii) capital and credit market volatility, (iv) our anticipated growth strategies, (v) risks associated with the implementation of the amended Macau gaming law by the Macau government, (vi) gaming authority and other governmental approvals and regulations, and (vii) our future business development, results of operations and financial condition. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company undertakes no duty to update such information, except as required under applicable law.
Non-GAAP Financial Measures
| (1) | “Adjusted EBITDA” is net income/loss before interest, taxes, depreciation, amortization, pre-opening costs, development costs, property charges and other, share-based compensation, payments to the Philippine parties under the cooperative arrangement (the “Philippine Parties”), integrated resort and casino rent and other non-operating income and expenses. “Adjusted Property EBITDA” is net income/loss before interest, taxes, depreciation, amortization, pre-opening costs, development costs, property charges and other, share-based compensation, payments to the Philippine Parties, integrated resort and casino rent, Corporate and Other expenses and other non-operating income and expenses. Adjusted EBITDA and Adjusted Property EBITDA, which are non-GAAP financial measures, are presented as supplemental disclosures because management believes they are widely used to measure the performance, and as a basis for valuation, of gaming companies. Management uses Adjusted EBITDA and Adjusted Property EBITDA to measure the operating performance of our segments and to compare the operating performance of our properties with those of our competitors. The Company also presents Adjusted EBITDA and Adjusted Property EBITDA because they are used by some investors as ways to measure a company’s ability to incur and service debt, make capital expenditures, and meet working capital requirements. Gaming companies have historically reported similar measures as supplements to financial measures in accordance with generally accepted accounting principles, in particular, U.S. GAAP or International Financial Reporting Standards. However, Adjusted EBITDA and Adjusted Property EBITDA should not be considered as alternatives to operating income/loss as indicators of the Company’s performance, as alternatives to cash flows from operating activities as measures of liquidity, or as alternatives to any other measure determined in accordance with U.S. GAAP. Unlike net income/loss, Adjusted EBITDA and Adjusted Property EBITDA do not include depreciation and amortization or interest expense and, therefore, do not reflect current or future capital expenditures or the cost of capital. The Company recognizes these limitations and uses Adjusted EBITDA and Adjusted Property EBITDA as only two of several comparative tools, together with U.S. GAAP measurements, to assist in the evaluation of operating performance. Such U.S. GAAP measurements include operating income/loss, net income/loss, cash flows from operations and cash flow data. The Company has significant uses of cash flows, including capital expenditures, interest payments, debt principal repayments, taxes and other recurring and nonrecurring charges, which are not reflected in Adjusted EBITDA or Adjusted Property EBITDA. Also, the Company’s calculation of Adjusted EBITDA and Adjusted Property EBITDA may be different from the calculation methods used by other companies and, therefore, comparability may be limited. The use of Adjusted Property EBITDA and Adjusted EBITDA has material limitations as an analytical tool, as Adjusted Property EBITDA and Adjusted EBITDA do not include all items that impact our net income/loss. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measure to its most directly comparable GAAP financial measure. Reconciliations of Adjusted EBITDA and Adjusted Property EBITDA with the most comparable financial measures calculated and presented in accordance with U.S. GAAP are provided herein immediately following the financial statements included in this press release. |
| (2) | “Adjusted net income/loss attributable to Melco Resorts & Entertainment Limited” is net income/loss attributable to Melco Resorts & Entertainment Limited before pre-opening costs, development costs, property charges and other and loss on extinguishment of debt, net of noncontrolling interests and taxes calculated using specific tax treatments applicable to the adjustments based on their respective jurisdictions. Adjusted net income/loss attributable to Melco Resorts & Entertainment Limited and adjusted net income/loss attributable to Melco Resorts & Entertainment Limited per share (“EPS”), which are non-GAAP financial measures, are presented as supplemental disclosures because management believes they are widely used to measure the performance, and as a basis for valuation, of gaming companies. These measures are used by management and/or evaluated by some investors, in addition to income/loss and EPS computed in accordance with U.S. GAAP, as an additional basis for assessing period-to-period results of our business. Adjusted net income/loss attributable to Melco Resorts & Entertainment Limited and adjusted net income/loss attributable to Melco Resorts & Entertainment Limited per share may be different from the calculation methods used by other companies and, therefore, comparability may be limited. Reconciliations of adjusted net income/loss attributable to Melco Resorts & Entertainment Limited with the most comparable financial measures calculated and presented in accordance with U.S. GAAP are provided herein immediately following the financial statements included in this press release. |
About Melco Resorts & Entertainment Limited
The Company, with its American depositary shares listed on the Nasdaq Global Select Market (Nasdaq: MLCO), is a developer, owner and operator of integrated resort facilities in Asia and Europe. The Company currently operates City of Dreams (www.cityofdreamsmacau.com) and Altira Macau (www.altiramacau.com), integrated resorts located in Cotai and Taipa, Macau, respectively. Its business also includes the Mocha Clubs (www.mochaclubs.com), the only non-casino based operation of electronic gaming machines in Macau. In addition, the Company operates Studio City (www.studiocity-macau.com), a cinematically-themed integrated resort in Cotai, Macau. In the Philippines, the Company operates and manages City of Dreams Manila (www.cityofdreamsmanila.com), an integrated resort in the Entertainment City complex in Manila. In Europe, the Company operates City of Dreams Mediterranean, an integrated resort in Limassol, in the Republic of Cyprus (www.cityofdreamsmed.com.cy) and licensed satellite casinos in other cities in Cyprus (the “Cyprus Casinos”). In South Asia, the Company operates the casino and manages the Nüwa hotel at City of Dreams Sri Lanka (www.cityofdreamssrilanka.com), an integrated resort in Colombo, Sri Lanka. For more information about the Company, please visit www.melco-resorts.com.
The Company is majority owned by Melco International Development Limited, a company listed on the Main Board of The Stock Exchange of Hong Kong Limited, which is in turn majority owned and led by Mr. Lawrence Ho, who is the Chairman, Executive Director and Chief Executive Officer of the Company.
For the investment community, please contact:
Jeanny Kim
Senior Vice President, Group Treasurer
Tel: +852 2598 3698
Email: jeannykim@melco-resorts.com
For media enquiries, please contact:
Chimmy Leung
Executive Director, Corporate Communications
Tel: +852 3151 3765
Email: chimmyleung@melco-resorts.com
| Melco Resorts & Entertainment Limited and Subsidiaries | ||||||||||||||||
| Condensed Consolidated Statements of Operations (Unaudited) | ||||||||||||||||
| (In thousands, except share and per share data) | ||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Operating revenues: | ||||||||||||||||
| Casino | $ | 939,192 | $ | 1,061,469 | $ | 3,124,625 | $ | 3,181,389 | ||||||||
| Rooms | 122,523 | 118,577 | 343,284 | 332,634 | ||||||||||||
| Food and beverage | 71,197 | 73,270 | 203,660 | 219,766 | ||||||||||||
| Entertainment, retail and other | 40,603 | 56,191 | 120,858 | 136,237 | ||||||||||||
| Total operating revenues | 1,173,515 | 1,309,507 | 3,792,427 | 3,870,026 | ||||||||||||
| Operating costs and expenses: | ||||||||||||||||
| Casino | (625,100 | ) | (674,624 | ) | (2,046,454 | ) | (2,033,228 | ) | ||||||||
| Rooms | (41,290 | ) | (38,623 | ) | (120,247 | ) | (111,186 | ) | ||||||||
| Food and beverage | (62,874 | ) | (60,041 | ) | (185,480 | ) | (181,779 | ) | ||||||||
| Entertainment, retail and other | (26,864 | ) | (27,560 | ) | (73,549 | ) | (74,078 | ) | ||||||||
| General and administrative | (165,423 | ) | (167,005 | ) | (511,281 | ) | (480,449 | ) | ||||||||
| Payments to the Philippine Parties | (8,155 | ) | (10,213 | ) | (24,292 | ) | (28,514 | ) | ||||||||
| Pre-opening costs | (1,676 | ) | (7,393 | ) | (3,269 | ) | (50,416 | ) | ||||||||
| Development costs | (1,706 | ) | (996 | ) | (4,134 | ) | (6,266 | ) | ||||||||
| Amortization of land use rights | (4,962 | ) | (4,984 | ) | (14,903 | ) | (14,966 | ) | ||||||||
| Depreciation and amortization | (133,347 | ) | (133,323 | ) | (400,140 | ) | (387,687 | ) | ||||||||
| Property charges and other | (1,902 | ) | (234 | ) | (1,705 | ) | (47,420 | ) | ||||||||
| Total operating costs and expenses | (1,073,299 | ) | (1,124,996 | ) | (3,385,454 | ) | (3,415,989 | ) | ||||||||
| Operating income | 100,216 | 184,511 | 406,973 | 454,037 | ||||||||||||
| Non-operating income (expenses): | ||||||||||||||||
| Interest income | 919 | 1,057 | 3,089 | 5,620 | ||||||||||||
| Interest expense, net of amounts capitalized | (110,839 | ) | (113,261 | ) | (333,642 | ) | (350,650 | ) | ||||||||
| Other financing costs | (1,767 | ) | (992 | ) | (5,044 | ) | (4,970 | ) | ||||||||
| Foreign exchange gains (losses), net | 3,656 | (9,296 | ) | 9,343 | 9,605 | |||||||||||
| Other income, net | 1,628 | 1,410 | 10,725 | 3,399 | ||||||||||||
| Loss on extinguishment of debt | (1,259 | ) | (524 | ) | (2,639 | ) | (524 | ) | ||||||||
| Total non-operating expenses, net | (107,662 | ) | (121,606 | ) | (318,168 | ) | (337,520 | ) | ||||||||
| (Loss) income before income tax | (7,446 | ) | 62,905 | 88,805 | 116,517 | |||||||||||
| Income tax expense | (1,655 | ) | (845 | ) | (16,476 | ) | (17,355 | ) | ||||||||
| Net (loss) income | (9,101 | ) | 62,060 | 72,329 | 99,162 | |||||||||||
| Net loss attributable to noncontrolling interests | 9,135 | 12,626 | 27,198 | 25,248 | ||||||||||||
| Net income attributable to Melco Resorts & Entertainment Limited | $ | 34 | $ | 74,686 | $ | 99,527 | $ | 124,410 | ||||||||
| Net income attributable to Melco Resorts & Entertainment Limited per share: | ||||||||||||||||
| Basic | $ | 0.00003 | $ | 0.06375 | $ | 0.08684 | $ | 0.10356 | ||||||||
| Diluted | $ | 0.00003 | $ | 0.06307 | $ | 0.08644 | $ | 0.10303 | ||||||||
| Net income attributable to Melco Resorts & Entertainment Limited per ADS: | ||||||||||||||||
| Basic | $ | 0.00009 | $ | 0.19124 | $ | 0.26051 | $ | 0.31067 | ||||||||
| Diluted | $ | 0.00009 | $ | 0.18922 | $ | 0.25933 | $ | 0.30909 | ||||||||
| Weighted average shares outstanding used in net income attributable to Melco Resorts & Entertainment Limited per share calculation: | ||||||||||||||||
| Basic | 1,104,504,749 | 1,171,585,944 | 1,146,144,003 | 1,201,377,034 | ||||||||||||
| Diluted | 1,108,390,113 | 1,184,132,090 | 1,151,344,779 | 1,207,524,521 | ||||||||||||
| Melco Resorts & Entertainment Limited and Subsidiaries | ||||||||
| Condensed Consolidated Balance Sheets (Unaudited) | ||||||||
| (In thousands, except share and per share data) | ||||||||
| September 30, | December 31, | |||||||
| 2026 | 2025 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 762,448 | $ | 1,023,199 | ||||
| Accounts receivable, net | 129,567 | 126,405 | ||||||
| Receivables from affiliated companies | 402 | 887 | ||||||
| Inventories | 37,252 | 36,919 | ||||||
| Prepaid expenses and other current assets | 71,963 | 81,790 | ||||||
| Total current assets | 1,001,632 | 1,269,200 | ||||||
| Property and equipment, net | 4,977,928 | 5,157,443 | ||||||
| Intangible assets, net | 258,490 | 270,903 | ||||||
| Goodwill | 23,294 | 23,490 | ||||||
| Long-term prepayments, deposits and other assets | 170,295 | 129,428 | ||||||
| Restricted cash | 124,198 | 125,235 | ||||||
| Operating lease right-of-use assets | 75,554 | 76,935 | ||||||
| Land use rights, net | 525,622 | 545,054 | ||||||
| Total assets | $ | 7,157,013 | $ | 7,597,688 | ||||
| LIABILITIES AND DEFICIT | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 19,224 | $ | 25,910 | ||||
| Accrued expenses and other current liabilities | 1,005,568 | 1,076,150 | ||||||
| Income tax payable | 30,277 | 29,208 | ||||||
| Operating lease liabilities, current | 21,636 | 18,998 | ||||||
| Finance lease liabilities, current | 32,057 | 33,327 | ||||||
| Payables to affiliated companies | 236 | 719 | ||||||
| Total current liabilities | 1,108,998 | 1,184,312 | ||||||
| Long-term debt, net | 6,978,551 | 6,747,918 | ||||||
| Other long-term liabilities | 281,454 | 309,799 | ||||||
| Deferred tax liabilities, net | 34,092 | 34,590 | ||||||
| Operating lease liabilities, non-current | 75,222 | 76,108 | ||||||
| Finance lease liabilities, non-current | 128,360 | 148,590 | ||||||
| Total liabilities | 8,606,677 | 8,501,317 | ||||||
| Deficit: | ||||||||
| Ordinary shares, par value | ||||||||
| 1,351,540,382 and 1,351,540,382 shares issued; | ||||||||
| 1,073,746,657 and 1,172,055,466 shares outstanding, respectively | 13,515 | 13,515 | ||||||
| Treasury shares, at cost; 277,793,725 and 179,484,916 shares, respectively | (526,099 | ) | (356,835 | ) | ||||
| Additional paid-in capital | 2,609,853 | 2,988,714 | ||||||
| Accumulated other comprehensive losses | (118,727 | ) | (63,712 | ) | ||||
| Accumulated losses | (3,728,757 | ) | (3,828,284 | ) | ||||
| Total Melco Resorts & Entertainment Limited shareholders’ deficit | (1,750,215 | ) | (1,246,602 | ) | ||||
| Noncontrolling interests | 300,551 | 342,973 | ||||||
| Total deficit | (1,449,664 | ) | (903,629 | ) | ||||
| Total liabilities and deficit | $ | 7,157,013 | $ | 7,597,688 | ||||
| Melco Resorts & Entertainment Limited and Subsidiaries | ||||||||||||||||
| Reconciliation of Net Income Attributable to Melco Resorts & Entertainment Limited to | ||||||||||||||||
| Adjusted Net Income Attributable to Melco Resorts & Entertainment Limited (Unaudited) | ||||||||||||||||
| (In thousands, except share and per share data) | ||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Net income attributable to Melco Resorts & Entertainment Limited | $ | 34 | $ | 74,686 | $ | 99,527 | $ | 124,410 | ||||||||
| Pre-opening costs | 1,676 | 7,393 | 3,269 | 50,416 | ||||||||||||
| Development costs | 1,706 | 996 | 4,134 | 6,266 | ||||||||||||
| Property charges and other | 1,902 | 234 | 1,705 | 47,420 | ||||||||||||
| Loss on extinguishment of debt | 1,259 | 524 | 2,639 | 524 | ||||||||||||
| Income tax impact on adjustments | (50 | ) | (12 | ) | (72 | ) | (811 | ) | ||||||||
| Noncontrolling interests impact on adjustments | (41 | ) | (138 | ) | (670 | ) | (1,190 | ) | ||||||||
| Adjusted net income attributable to Melco Resorts & Entertainment Limited | $ | 6,486 | $ | 83,683 | $ | 110,532 | $ | 227,035 | ||||||||
| Adjusted net income attributable to Melco Resorts & Entertainment Limited per share: | ||||||||||||||||
| Basic | $ | 0.006 | $ | 0.071 | $ | 0.096 | $ | 0.189 | ||||||||
| Diluted | $ | 0.006 | $ | 0.071 | $ | 0.096 | $ | 0.188 | ||||||||
| Adjusted net income attributable to Melco Resorts & Entertainment Limited per ADS: | ||||||||||||||||
| Basic | $ | 0.018 | $ | 0.214 | $ | 0.289 | $ | 0.567 | ||||||||
| Diluted | $ | 0.018 | $ | 0.212 | $ | 0.288 | $ | 0.564 | ||||||||
| Weighted average shares outstanding used in adjusted net income attributable to Melco Resorts & Entertainment Limited per share calculation: | ||||||||||||||||
| Basic | 1,104,504,749 | 1,171,585,944 | 1,146,144,003 | 1,201,377,034 | ||||||||||||
| Diluted | 1,108,390,113 | 1,184,132,090 | 1,151,344,779 | 1,207,524,521 | ||||||||||||
| Melco Resorts & Entertainment Limited and Subsidiaries | |||||||||||||||||||||||||||||||||||||
| Reconciliation of Operating Income to Adjusted EBITDA and Adjusted Property EBITDA (Unaudited) | |||||||||||||||||||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||||||||||||||||
| Three Months Ended September 30, 2026 | |||||||||||||||||||||||||||||||||||||
| City of Dreams | Studio City | Altira Macau | Mocha(3) | City of Dreams Manila | City of Dreams Mediterranean and Other | Other Operations(4) | Corporate and Other | Total | |||||||||||||||||||||||||||||
| Operating income (loss) | $ | 71,571 | $ | 34,984 | $ | (2,000 | ) | $ | 3,269 | $ | 17,554 | $ | 12,232 | $ | (853 | ) | $ | (36,541 | ) | $ | 100,216 | ||||||||||||||||
| Payments to the Philippine Parties | - | - | - | - | 8,155 | - | - | - | 8,155 | ||||||||||||||||||||||||||||
| Integrated resort and casino rent(5) | - | - | - | - | 1,463 | - | 1,828 | - | 3,291 | ||||||||||||||||||||||||||||
| Pre-opening costs | 1,555 | 92 | - | - | - | - | - | 29 | 1,676 | ||||||||||||||||||||||||||||
| Development costs | - | - | - | - | - | - | - | 1,706 | 1,706 | ||||||||||||||||||||||||||||
| Depreciation and amortization | 54,461 | 55,436 | 887 | 1,025 | 4,448 | 13,293 | 3,008 | 5,751 | 138,309 | ||||||||||||||||||||||||||||
| Share-based compensation | 1,903 | 551 | 132 | 38 | 1,115 | 88 | 31 | 5,568 | 9,426 | ||||||||||||||||||||||||||||
| Property charges and other | 854 | (496 | ) | 693 | - | 186 | 47 | - | 618 | 1,902 | |||||||||||||||||||||||||||
| Adjusted EBITDA | 130,344 | 90,567 | (288 | ) | 4,332 | 32,921 | 25,660 | 4,014 | (22,869 | ) | 264,681 | ||||||||||||||||||||||||||
| Corporate and Other expenses | - | - | - | - | - | - | - | 22,869 | 22,869 | ||||||||||||||||||||||||||||
| Adjusted Property EBITDA | $ | 130,344 | $ | 90,567 | $ | (288 | ) | $ | 4,332 | $ | 32,921 | $ | 25,660 | $ | 4,014 | $ | - | $ | 287,550 | ||||||||||||||||||
| Three Months Ended September 30, 2025 | |||||||||||||||||||||||||||||||||||||
| City of Dreams | Studio City | Altira Macau | Mocha and Other(3) | City of Dreams Manila | City of Dreams Mediterranean and Other | Other Operations(4) | Corporate and Other(4) | Total | |||||||||||||||||||||||||||||
| Operating income (loss) | $ | 153,803 | $ | 45,914 | $ | (2,275 | ) | $ | 4,252 | $ | 24,272 | $ | 9,537 | $ | (11,119 | ) | $ | (39,873 | ) | $ | 184,511 | ||||||||||||||||
| Payments to the Philippine Parties | - | - | - | - | 10,213 | - | - | - | 10,213 | ||||||||||||||||||||||||||||
| Integrated resort and casino rent(5) | - | - | - | - | 1,390 | - | 1,788 | - | 3,178 | ||||||||||||||||||||||||||||
| Pre-opening costs(6) | 410 | 31 | - | - | - | - | 6,359 | - | 6,800 | ||||||||||||||||||||||||||||
| Development costs | - | - | - | - | - | - | - | 996 | 996 | ||||||||||||||||||||||||||||
| Depreciation and amortization | 52,242 | 58,152 | 604 | 1,448 | 4,977 | 13,291 | 2,318 | 5,275 | 138,307 | ||||||||||||||||||||||||||||
| Share-based compensation | 1,601 | 416 | 115 | 47 | 271 | 107 | 25 | 5,142 | 7,724 | ||||||||||||||||||||||||||||
| Property charges and other | (1,176 | ) | 158 | 849 | 26 | 138 | 239 | - | - | 234 | |||||||||||||||||||||||||||
| Adjusted EBITDA | 206,880 | 104,671 | (707 | ) | 5,773 | 41,261 | 23,174 | (629 | ) | (28,460 | ) | 351,963 | |||||||||||||||||||||||||
| Corporate and Other expenses(4) | - | - | - | - | - | - | - | 28,460 | 28,460 | ||||||||||||||||||||||||||||
| Adjusted Property EBITDA | $ | 206,880 | $ | 104,671 | $ | (707 | ) | $ | 5,773 | $ | 41,261 | $ | 23,174 | $ | (629 | ) | $ | - | $ | 380,423 | |||||||||||||||||
| (3) | Mocha and Other segment included the operation of the Grand Dragon Casino before its closure and was changed to Mocha segment effective on September 23, 2025. | |||||||||||||||||||||||||||||||
| (4) | Effective from August 1, 2025, the Company’s casino operations at City of Dreams Sri Lanka, which commenced business on August 1, 2025, and provision of management services to operate certain floors of the hotel tower at City of Dreams Sri Lanka which opened to the public on July 15, 2025 were previously reported under the Corporate and Other category, has been included in the Other Operations segment for the three months and nine months ended September 30, 2025. City of Dreams Sri Lanka is an integrated resort in Colombo, Sri Lanka, developed by a subsidiary of John Keells Holdings PLC, an independent third party. | |||||||||||||||||||||||||||||||
| (5) | Integrated resort and casino rent represents land rent and variable lease costs to Belle Corporation and casino rent to a subsidiary of John Keells Holdings PLC. | |||||||||||||||||||||||||||||||
| (6) | Certain amounts of pre-opening costs are grouped and reported under the line item Integrated resort and casino rent. | |||||||||||||||||||||||||||||||
| Melco Resorts & Entertainment Limited and Subsidiaries | |||||||||||||||||||||||||||||||||||
| Reconciliation of Operating Income to Adjusted EBITDA and Adjusted Property EBITDA (Unaudited) | |||||||||||||||||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||||||||||||||
| Nine Months Ended September 30, 2026 | |||||||||||||||||||||||||||||||||||
| City of Dreams | Studio City | Altira Macau | Mocha(3) | City of Dreams Manila | City of Dreams Mediterranean and Other | Other Operations(4) | Corporate and Other | Total | |||||||||||||||||||||||||||
| Operating income (loss) | $ | 325,788 | $ | 128,938 | $ | (623 | ) | $ | 8,809 | $ | 56,755 | $ | 13,983 | $ | (7,033 | ) | $ | (119,644 | ) | $ | 406,973 | ||||||||||||||
| Payments to the Philippine Parties | - | - | - | - | 24,292 | - | - | - | 24,292 | ||||||||||||||||||||||||||
| Integrated resort and casino rent(5) | - | - | - | - | 4,477 | - | 5,394 | - | 9,871 | ||||||||||||||||||||||||||
| Pre-opening costs | 3,070 | 120 | - | - | - | - | 33 | 46 | 3,269 | ||||||||||||||||||||||||||
| Development costs | - | - | - | - | - | - | - | 4,134 | 4,134 | ||||||||||||||||||||||||||
| Depreciation and amortization | 161,409 | 167,879 | 2,628 | 3,082 | 13,850 | 40,226 | 9,327 | 16,642 | 415,043 | ||||||||||||||||||||||||||
| Share-based compensation | 5,071 | 1,411 | 360 | 111 | 1,620 | 213 | 80 | 14,443 | 23,309 | ||||||||||||||||||||||||||
| Property charges and other | (2,853 | ) | (530 | ) | 3,564 | 543 | 257 | 106 | - | 618 | 1,705 | ||||||||||||||||||||||||
| Adjusted EBITDA | 492,485 | 297,818 | 5,929 | 12,545 | 101,251 | 54,528 | 7,801 | (83,761 | ) | 888,596 | |||||||||||||||||||||||||
| Corporate and Other expenses | - | - | - | - | - | - | - | 83,761 | 83,761 | ||||||||||||||||||||||||||
| Adjusted Property EBITDA | $ | 492,485 | $ | 297,818 | $ | 5,929 | $ | 12,545 | $ | 101,251 | $ | 54,528 | $ | 7,801 | $ | - | $ | 972,357 | |||||||||||||||||
| Nine Months Ended September 30, 2025 | |||||||||||||||||||||||||||||||||||
| City of Dreams | Studio City | Altira Macau | Mocha and Other(3) | City of Dreams Manila | City of Dreams Mediterranean and Other | Other Operations(4) | Corporate and Other(4) | Total | |||||||||||||||||||||||||||
| Operating income (loss) | $ | 454,663 | $ | 131,376 | $ | (4,753 | ) | $ | (41,496 | ) | $ | 50,565 | $ | 8,317 | $ | (25,303 | ) | $ | (119,332 | ) | $ | 454,037 | |||||||||||||
| Payments to the Philippine Parties | - | - | - | - | 28,514 | - | - | - | 28,514 | ||||||||||||||||||||||||||
| Integrated resort and casino rent(5) | - | - | - | - | 4,192 | - | 5,367 | - | 9,559 | ||||||||||||||||||||||||||
| Pre-opening costs(6) | 28,871 | 500 | - | - | - | - | 16,873 | - | 46,244 | ||||||||||||||||||||||||||
| Development costs | - | - | - | - | - | - | - | 6,266 | 6,266 | ||||||||||||||||||||||||||
| Depreciation and amortization | 153,001 | 171,826 | 1,709 | 3,552 | 15,482 | 38,444 | 2,318 | 16,321 | 402,653 | ||||||||||||||||||||||||||
| Share-based compensation | 4,498 | 1,182 | 327 | 137 | 756 | 312 | 63 | 14,885 | 22,160 | ||||||||||||||||||||||||||
| Property charges and other | (12,608 | ) | 2,319 | 2,162 | 55,583 | 224 | 128 | - | (388 | ) | 47,420 | ||||||||||||||||||||||||
| Adjusted EBITDA | 628,425 | 307,203 | (555 | ) | 17,776 | 99,733 | 47,201 | (682 | ) | (82,248 | ) | 1,016,853 | |||||||||||||||||||||||
| Corporate and Other expenses(4) | - | - | - | - | - | - | - | 82,248 | 82,248 | ||||||||||||||||||||||||||
| Adjusted Property EBITDA | $ | 628,425 | $ | 307,203 | $ | (555 | ) | $ | 17,776 | $ | 99,733 | $ | 47,201 | $ | (682 | ) | $ | - | $ | 1,099,101 | |||||||||||||||
| Melco Resorts & Entertainment Limited and Subsidiaries | ||||||||||||||||
| Reconciliation of Net Income Attributable to Melco Resorts & Entertainment Limited to | ||||||||||||||||
| Adjusted EBITDA and Adjusted Property EBITDA (Unaudited) | ||||||||||||||||
| (In thousands) | ||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, | September 30, | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Net income attributable to Melco Resorts & Entertainment Limited | $ | 34 | $ | 74,686 | $ | 99,527 | $ | 124,410 | ||||||||
| Net loss attributable to noncontrolling interests | (9,135 | ) | (12,626 | ) | (27,198 | ) | (25,248 | ) | ||||||||
| Net (loss) income | (9,101 | ) | 62,060 | 72,329 | 99,162 | |||||||||||
| Income tax expense | 1,655 | 845 | 16,476 | 17,355 | ||||||||||||
| Interest and other non-operating expenses, net | 107,662 | 121,606 | 318,168 | 337,520 | ||||||||||||
| Depreciation and amortization | 138,309 | 138,307 | 415,043 | 402,653 | ||||||||||||
| Property charges and other | 1,902 | 234 | 1,705 | 47,420 | ||||||||||||
| Share-based compensation | 9,426 | 7,724 | 23,309 | 22,160 | ||||||||||||
| Development costs | 1,706 | 996 | 4,134 | 6,266 | ||||||||||||
| Pre-opening costs(6) | 1,676 | 6,800 | 3,269 | 46,244 | ||||||||||||
| Integrated resort and casino rent(5) | 3,291 | 3,178 | 9,871 | 9,559 | ||||||||||||
| Payments to the Philippine Parties | 8,155 | 10,213 | 24,292 | 28,514 | ||||||||||||
| Adjusted EBITDA | 264,681 | 351,963 | 888,596 | 1,016,853 | ||||||||||||
| Corporate and Other expenses(4) | 22,869 | 28,460 | 83,761 | 82,248 | ||||||||||||
| Adjusted Property EBITDA | $ | 287,550 | $ | 380,423 | $ | 972,357 | $ | 1,099,101 | ||||||||
| Melco Resorts & Entertainment Limited and Subsidiaries | |||||||||||||||||||||
| Supplemental Data Schedule | |||||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||
| September 30, | September 30, | ||||||||||||||||||||
| 2026 | 2025 | 2026 | 2025 | ||||||||||||||||||
| Room Statistics: | |||||||||||||||||||||
| City of Dreams | |||||||||||||||||||||
| Average daily rate(7) | $ | 221 | $ | 218 | $ | 225 | $ | 218 | |||||||||||||
| Occupancy per available room | 98 | % | 98 | % | 98 | % | 98 | % | |||||||||||||
| Revenue per available room(8) | $ | 218 | $ | 212 | $ | 221 | $ | 213 | |||||||||||||
| Studio City | |||||||||||||||||||||
| Average daily rate(7) | $ | 176 | $ | 178 | $ | 175 | $ | 170 | |||||||||||||
| Occupancy per available room | 97 | % | 97 | % | 97 | % | 98 | % | |||||||||||||
| Revenue per available room(8) | $ | 171 | $ | 174 | $ | 170 | $ | 166 | |||||||||||||
| Altira Macau | |||||||||||||||||||||
| Average daily rate(7) | $ | 134 | $ | 135 | $ | 134 | $ | 133 | |||||||||||||
| Occupancy per available room | 100 | % | 96 | % | 99 | % | 97 | % | |||||||||||||
| Revenue per available room(8) | $ | 134 | $ | 130 | $ | 132 | $ | 129 | |||||||||||||
| City of Dreams Manila | |||||||||||||||||||||
| Average daily rate(7) | $ | 140 | $ | 158 | $ | 144 | $ | 160 | |||||||||||||
| Occupancy per available room | 96 | % | 90 | % | 96 | % | 93 | % | |||||||||||||
| Revenue per available room(8) | $ | 134 | $ | 142 | $ | 138 | $ | 150 | |||||||||||||
| City of Dreams Mediterranean and Other | |||||||||||||||||||||
| Average daily rate(7) | $ | 611 | $ | 595 | $ | 546 | $ | 493 | |||||||||||||
| Occupancy per available room | 83 | % | 72 | % | 65 | % | 64 | % | |||||||||||||
| Revenue per available room(8) | $ | 509 | $ | 425 | $ | 354 | $ | 315 | |||||||||||||
| Other Information: | |||||||||||||||||||||
| City of Dreams | |||||||||||||||||||||
| Average number of table games | 450 | 437 | 448 | 435 | |||||||||||||||||
| Average number of gaming machines | 814 | 615 | 814 | 619 | |||||||||||||||||
| Table games win per unit per day(9) | $ | 14,406 | $ | 17,583 | $ | 16,531 | $ | 18,239 | |||||||||||||
| Gaming machines win per unit per day(10) | $ | 489 | $ | 586 | $ | 588 | $ | 533 | |||||||||||||
| Studio City | |||||||||||||||||||||
| Average number of table games | 249 | 253 | 252 | 253 | |||||||||||||||||
| Average number of gaming machines | 953 | 726 | 951 | 749 | |||||||||||||||||
| Table games win per unit per day(9) | $ | 12,663 | $ | 13,572 | $ | 13,734 | $ | 13,680 | |||||||||||||
| Gaming machines win per unit per day(10) | $ | 351 | $ | 484 | $ | 417 | $ | 485 | |||||||||||||
| Altira Macau | |||||||||||||||||||||
| Average number of table games | 35 | 29 | 34 | 32 | |||||||||||||||||
| Average number of gaming machines | 282 | 148 | 284 | 138 | |||||||||||||||||
| Table games win per unit per day(9) | $ | 9,004 | $ | 8,188 | $ | 9,923 | $ | 8,199 | |||||||||||||
| Gaming machines win per unit per day(10) | $ | 258 | $ | 274 | $ | 278 | $ | 275 | |||||||||||||
| Mocha and Other(3) | |||||||||||||||||||||
| Average number of table games | - | 15 | - | 15 | |||||||||||||||||
| Average number of gaming machines | 429 | 850 | 426 | 847 | |||||||||||||||||
| Table games win per unit per day(9) | $ | - | $ | 6,884 | $ | - | $ | 6,623 | |||||||||||||
| Gaming machines win per unit per day(10) | $ | 392 | $ | 269 | $ | 396 | $ | 276 | |||||||||||||
| City of Dreams Manila | |||||||||||||||||||||
| Average number of table games | 264 | 262 | 264 | 265 | |||||||||||||||||
| Average number of gaming machines | 2,275 | 2,264 | 2,268 | 2,265 | |||||||||||||||||
| Table games win per unit per day(9) | $ | 2,682 | $ | 3,089 | $ | 2,667 | $ | 2,740 | |||||||||||||
| Gaming machines win per unit per day(10) | $ | 232 | $ | 241 | $ | 237 | $ | 238 | |||||||||||||
| City of Dreams Mediterranean and Other | |||||||||||||||||||||
| Average number of table games | 108 | 106 | 108 | 106 | |||||||||||||||||
| Average number of gaming machines | 971 | 888 | 950 | 886 | |||||||||||||||||
| Table games win per unit per day(9) | $ | 4,996 | $ | 4,231 | $ | 4,140 | $ | 3,674 | |||||||||||||
| Gaming machines win per unit per day(10) | $ | 429 | $ | 446 | $ | 413 | $ | 408 | |||||||||||||
| (7) | Average daily rate is calculated by dividing total room revenues including complimentary rooms (less service charges, if any) by total occupied rooms including complimentary rooms | ||||||||||||||||||||
| (8) | Revenue per available room is calculated by dividing total room revenues including complimentary rooms (less service charges, if any) by total rooms available | ||||||||||||||||||||
| (9) | Table games win per unit per day is shown before discounts, commissions, other incentives and allocating casino revenues related to goods and services provided to gaming patrons on a complimentary basis | ||||||||||||||||||||
| (10) | Gaming machines win per unit per day is shown before other incentives and allocating casino revenues related to goods and services provided to gaming patrons on a complimentary basis | ||||||||||||||||||||
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were Melco Resorts' third-quarter 2026 earnings and revenue?
Melco reported US$1.17 billion in revenue and US$34 thousand in attributable net income for the third quarter of 2026. Revenue declined approximately 10% from US$1.31 billion a year earlier, while attributable net income fell from US$74.7 million. Earnings per ADS were US$0.00009, compared with US$0.19124.
How much cash did Melco Resorts have at September 30, 2026?
Melco held US$886.6 million in cash and bank balances at September 30, 2026, including US$124.2 million of restricted cash. Available liquidity, including cash and undrawn revolving credit facilities, was approximately US$1.95 billion.
How did Melco Resorts fund its 2026 senior-note redemptions?
Melco subsidiaries funded the redemptions with credit-facility drawdowns and cash on hand. Studio City Finance redeemed US$165.0 million of 6.500% notes due 2028 on July 18, using a US$150.5 million-equivalent drawdown and cash. Melco Resorts Finance redeemed US$600.0 million of 5.625% notes due 2027 on September 23, funded by a US$600.3 million-equivalent revolving-facility drawdown.
Why does Melco's Studio City adjusted EBITDA differ from Studio City International's figure?
Melco's Studio City adjusted EBITDA was US$25.0 million higher because the two presentations treat certain charges differently. Studio City International's figure includes intercompany fees and shared-service charges excluded from Melco's presentation. Melco's figure also excludes certain gaming-concession costs and intercompany costs related to Studio City Casino's gaming operations.