Asian gambling giant Melco Resorts and Entertainment has posted positive figures for Q3. The casino operator generated $.4 bn in revenue for Q3 representing a 16% year-on-year increase.
Melco’s operating income stood at $175.2m. The operating income was up 10.4 percent year-on-year. The company reported a net income of $83.2m.
The casino operator’s adjusted property EBITDA was $418.2m representing an increase of 39%.
Better performance in the rolling chip and mass market table game segments allowed Melco to post a strong performance despite troubles in the regional casino gambling markets including Macau.
Commenting on the company’s performance, Lawrence Ho, Chairman, and CEO of Melco Resorts and Entertainment said: “During the third quarter of 2019, Melco’s mass-market table games drop and gaming machine handle both reached all-time-record-highs.
“The third quarter of 2019 also marked 16 consecutive quarters of positive year-over-year growth in mass-market table games drop, highlighting the strength in Macau’s mass gaming market.”
The gambling operator also confirmed that they have dropped their plans for a casino license in Osaka.
Explaining the plan Melco Chairman and CEO Lawrence Ho said that their “Yokohama First” strategy means “the incredible team of experts and talents we have assembled will focus on bringing to Yokohama the best IR the world has ever seen.”