Gaming operator Melco Resorts & Entertainment Limited, which runs casinos in Macau, Manila and Cyprus, said in a statement today that its total operating revenues for the third quarter amounted to US$241.8 million, a 46-percent decline year on year.
According to the statement, the decrease "was primarily attributable to the government-mandated temporary closure of our casinos in Macau [for 12 days] in July and heightened travel restrictions in Macau and mainland Chin related to COVID-19 during the quarter which led to softer performance in the rolling chip and mass-market table games segment."
The company generated negative adjusted Ebitda of US$34.9 million in the third quarter, compared with US$31.9 million in the same quarter of last year.
Operating loss for the third quarter was US$198.5 million, compared with an operating loss of US$182.2 million in the third quarter of 2021.
Net loss attributable to the company for the third quarter was US$243.8 million, compared with a net loss of US$233.2 million in the same quarter of 2021.
The statement quoted Melco Resorts & Entertainment Limited Chairman and CEO Lawrence Ho Yau Lung as saying that he was "cautiously optimistic" that the renewed granting of electronic travel permits for individual tourists and tour groups by the mainland authorities for trips to Macau, which took effect Tuesday, "will lead to a gradual increase in visitation."
Melco Crown & Entertainment owns four of Macau's 37 casinos. It also owns the local chain of Mocha slot-machine parlours.
