Melco International Group Chairman and CEO Lawrence Ho Yau Lung reported yesterday “a gradual recovery in business levels at our integrated resorts during the second quarter of this year.
A statement by the resort operator, which owns four casinos in Macau, also quoted Ho as saying that “with the most notable recovery currently being driven by mass and premium mass-market players, we will continue to focus on the development of these market segments going forward.”
Ho also announced that his company “will move forward with the strategic repositioning of Altira Macau to cater to the premium mass segments from the third quarter of this year.”
According to the statement, net revenues rose year on year by 9.7 percent to HK$8.43 billion in the first half of the year. Loss after tax was HK$3.75 billion vs HK$7.06 billion for the first half of last year.
Adjusted EBITDA was HK$732.5 million vs negative Adjusted EBITDA of HK$886.2 million for the first six months of last year.
The statement also underlined the company’s 16 million pataca “Get the Jab” immunity incentive programme to support the government efforts for widespread vaccination against COVID-19. As of yesterday, the statement said, over 70 percent of its staff members in Macau and Hong Kong had been vaccinated against the novel coronavirus.
The statement also said that the company is tapping in to the Greater Bay Area (GBA) by developing a “multi-billion world-class residential, entertainment and hospitality mixed-use complex” in Zhonghan city, some 40 kilometres north of Macau. The majority of the project, according to the statement, is expected to be completed by 2025, including its theme park.
This undated handout photo provided by Melco International in July shows its Morpheus and City of Dreams integrated resort in Cotai.
