Melco Resorts and Entertainment (MLCO.US) announced unaudited financial results for the second quarter of 2024 on August 4. Total revenue for the second quarter of 2024 was US$1.16 billion, an increase of about 22% year-on-year. In the second quarter of 2024, the net income attributable to the parent company was US$21.4 million, and the net loss attributable to non-controlling interests was US$22.7 million, compared to US$27.7 million in the same period last year. Each American depositary share (ADS) is US$0.05.
"In the second quarter of 2024, we continue expanding our revenue and profitability, promoting growth strategic initiatives," said Lawrence Ho, Chairman and Chief Executive Officer of the Company. "We are investing in talent and enhancing our properties to offer our customers the best high-end experience in Macau. We have seen sequential quarterly and year-on-year growth in GGR, and our team is focused on advancing our continued expansion in the market."
"City of Dreams Manila in the Philippines has always shown solid performance. The Mediterranean City of Dreams and our satellite casinos in Cyprus also saw continuous growth in the past quarter, and fortunately, each adjusted EBITDA per share increased by more than 30% quarter-on-quarter."