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MACAU - Melco Resorts & Entertainment Limited (NASDAQ:MLCO) reported second-quarter revenue that exceeded analyst expectations, driven by strong performance in its Macau operations, sending shares up 4.3% following the announcement.
The casino operator posted revenue of $1.33 billion for the second quarter of 2025, surpassing the consensus estimate of $1.24 billion and representing a 15% increase from $1.16 billion in the same period last year. However, adjusted earnings per share came in at $0.04, missing analyst expectations of $0.09.
Melco’s Macau properties were the standout performers, with Macau Property EBITDA growing 35% YoY and 13% quarter-to-quarter. City of Dreams Macau and Studio City both set new records in mass market table games revenue, contributing significantly to the overall revenue growth.
"We are confident that the strategic initiatives we implemented have set us up on a solid foundation for continued growth," said Lawrence Ho, Chairman and Chief Executive Officer of Melco Resorts.
The company’s performance in the Philippines was challenged by increased competition, while its Cyprus operations showed solid results despite Middle East tensions in June 2025. Melco is also expanding its footprint with City of Dreams Sri Lanka, which opened on August 1, 2025, representing the first integrated resort in Sri Lanka and South Asia.
City of Dreams, the company’s flagship property in Macau, generated $710.5 million in operating revenue, up from $576.4 million a year earlier, with Adjusted EBITDA rising to $225.6 million from $165.1 million in the second quarter of 2024.
Total (EPA:TTEF) operating income for the second quarter was $124.7 million, slightly higher than the $123.7 million reported in the same period last year, while Adjusted Property EBITDA increased to $377.7 million from $302.8 million a year ago.
The company maintained a solid financial position with total cash and bank balances of $1.24 billion as of June 30, 2025, and available liquidity of approximately $2.27 billion.
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