Melco Resorts & Entertainment Limited MLCO shares are trading higher on Thursday.
The company reported fourth-quarter adjusted loss per ADS of $0.005, compared with the analyst consensus estimate of $0.08 earnings. Quarterly sales of $1.19 billion (up 9% year over year) outpaced the analyst consensus of $1.17 billion.
The increase in total operating revenues was primarily attributable to the improved performance in all gaming segments and non-gaming operations.
Operating income for the fourth quarter was $97.0 million, compared with an operating loss of $94.4 million in the year-ago period.
Melco generated Adjusted Property EBITDA of $295.4 million, lower than $303.4 million in the year-ago period.
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“We are committed to continuing to deliver on our strategic objectives and expect to continue to unveil new and exciting projects to support the ongoing growth in Macau,” Lawrence Ho, Chairman and Chief Executive Officer, commented.
“And last, but not least, the development of the casino at City of Dreams Sri Lanka is progressing well and we expect to commence casino operations in the third quarter of 2025,” Ho added.
Total cash and bank balances, as of December 31, aggregated to $1.27 billion, including $125.9 million of restricted cash.
Long-term prepayments (deposits and other assets) expanded to $131.85 million from $100.320 million in the year-ago period.
Melco Resorts also announced that it is evaluating potential strategic alternatives in relation to City of Dreams Manila.
Price Action: MLCO shares are trading higher by 1.83% at $5.835 at the time of publication.
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