Asia
Melco Announces Unaudited Fourth Quarter 2023 Earnings
Melco Resorts & Entertainment Limited, a developer, owner, and operator of integrated resort facilities in Asia and Europe, today reported its unaudited financial results for the fourth quarter and full year ended December 31, 2023.
Total operating revenues for the fourth quarter of 2023 were US$1.09 billion, representing an increase of approximately 224% from US$337.1 million for the comparable period in 2022. The increase in total operating revenues was primarily attributable to the improved performance in all gaming segments and non-gaming operations following the relaxation of COVID-19 related restrictions in Macau in January 2023 and the opening of Studio City Phase 2.
Operating loss for the fourth quarter of 2023 was US$94.4 million, compared with operating loss of US$199.5 million in the fourth quarter of 2022.
Melco generated Adjusted Property EBITDA(1) of US$303.4 million in the fourth quarter of 2023, compared with negative Adjusted Property EBITDA of US$6.8 million in the fourth quarter of 2022.
Net loss attributable to Melco Resorts & Entertainment Limited for the fourth quarter of 2023 was US$156.6 million, or US$0.36 per ADS, compared with US$251.9 million, or US$0.57 per ADS, in the fourth quarter of 2022. Net loss attributable to noncontrolling interests was US$20.8 million and US$42.1 million during the fourth quarters of 2023 and 2022, respectively, all of which were related to Studio City, City of Dreams Manila, and City of Dreams Mediterranean and Other.
Mr. Lawrence Ho, our Chairman and Chief Executive Officer, commented, “Macau continues to demonstrate its extraordinary growth potential and has shown resilience despite China’s uncertain macro-economic outlook. Visitations to Macau during this month’s Chinese New Year holiday period were close to 2019 levels and the number of visitors from China exceeded 2019.
“2023 was a year of post-pandemic recovery and the debut of our new developments, including City of Dreams Mediterranean and Studio City Phase 2. 2024 is set to be another exciting year for us as we continue to develop new ideas and strategies to bring market leading leisure and entertainment offerings to our customers.
“As part of our initiatives to ensure Melco is leading the market in all areas of our business, we are making changes to management in Macau and bolstering the leadership team. We expect these changes will strengthen us as a team to secure a stronger and more competitive future.
“City of Dreams Manila in the Philippines has continued to show solid growth with significant market share gains in mass table games and slots. City of Dreams Mediterranean in Cyprus continues to be impacted by the conflicts in the region but is starting to show some signs of recovery so far this year.”
City of Dreams Fourth Quarter Results
For the quarter ended December 31, 2023, total operating revenues at City of Dreams were US$559.8 million, compared with US$139.2 million in the fourth quarter of 2022. City of Dreams generated Adjusted EBITDA of US$166.2 million in the fourth quarter of 2023, compared with negative Adjusted EBITDA of US$7.8 million in the fourth quarter of 2022. The year-over-year increase in Adjusted EBITDA was primarily a result of better performance in all gaming segments and non-gaming operations.
Rolling chip volume was US$5.19 billion for the fourth quarter of 2023 versus US$850.4 million in the fourth quarter of 2022. The rolling chip win rate was 2.55% in the fourth quarter of 2023 versus 4.47% in the fourth quarter of 2022. The expected rolling chip win rate range is 2.85%-3.15%.
Mass market table games drop increased to US$1.44 billion in the fourth quarter of 2023, compared with US$292.2 million in the fourth quarter of 2022. The mass market table games hold percentage was 31.6% in the fourth quarter of 2023, compared with 29.2% in the fourth quarter of 2022.
Gaming machine handle for the fourth quarter of 2023 was US$957.4 million, compared with US$194.7 million in the fourth quarter of 2022. The gaming machine win rate was 3.1% in the fourth quarter of 2023 versus 4.5% in the fourth quarter of 2022.
Total non-gaming revenue at City of Dreams in the fourth quarter of 2023 was US$80.1 million, compared with US$30.5 million in the fourth quarter of 2022.
Altira Macau Fourth Quarter Results
For the quarter ended December 31, 2023, total operating revenues at Altira Macau were US$33.6 million, compared with US$9.0 million in the fourth quarter of 2022. Altira Macau generated Adjusted EBITDA of US$0.3 million in the fourth quarter of 2023, compared with negative Adjusted EBITDA of US$9.5 million in the fourth quarter of 2022. The year-over-year change in Adjusted EBITDA was primarily a result of better performance in the mass market segment and non-gaming operations.
In the mass market table games segment, drop was US$149.0 million in the fourth quarter of 2023 versus US$31.9 million in the fourth quarter of 2022. The mass market table games hold percentage was 23.8% in the fourth quarter of 2023, compared with 20.6% in the fourth quarter of 2022.
Gaming machine handle for the fourth quarter of 2023 was US$87.8 million, compared with US$40.8 million in the fourth quarter of 2022. The gaming machine win rate was 3.2% in the fourth quarter of 2023 versus 3.0% in the fourth quarter of 2022.
Total non-gaming revenue at Altira Macau in the fourth quarter of 2023 was US$5.3 million, compared with US$2.1 million in the fourth quarter of 2022.
Mocha and Other Fourth Quarter Results
Total operating revenues from Mocha and Other were US$28.7 million in the fourth quarter of 2023, compared with US$19.5 million in the fourth quarter of 2022. Mocha and Other generated Adjusted EBITDA of US$6.0 million in the fourth quarter of 2023, compared with Adjusted EBITDA of US$1.8 million in the fourth quarter of 2022.
Mass market table games drop was US$49.6 million in the fourth quarter of 2023 versus US$21.0 million in the fourth quarter of 2022. The mass market table games hold percentage was 14.8% in the fourth quarter of 2023 versus 19.7% in the fourth quarter of 2022.
Gaming machine handle for the fourth quarter of 2023 was US$493.0 million, compared with US$372.7 million in the fourth quarter of 2022. The gaming machine win rate was 4.6% in the fourth quarter of 2023 versus 4.2% in the fourth quarter of 2022.
Studio City Fourth Quarter Results
For the quarter ended December 31, 2023, total operating revenues at Studio City were US$302.5 million, compared with US$43.4 million in the fourth quarter of 2022. Studio City generated Adjusted EBITDA of US$77.3 million in the fourth quarter of 2023, compared with negative Adjusted EBITDA of US$25.3 million in the fourth quarter of 2022. The year-over-year increase in Adjusted EBITDA was primarily a result of better performance in the mass market segment and non-gaming operations.
Studio City’s rolling chip volume was US$566.0 million in the fourth quarter of 2023 versus US$251.4 million in the fourth quarter of 2022. The rolling chip win rate was 1.86% in the fourth quarter of 2023 versus 2.70% in the fourth quarter of 2022. The expected rolling chip win rate range is 2.85%-3.15%.
Mass market table games drop increased to US$864.1 million in the fourth quarter of 2023, compared with US$113.5 million in the fourth quarter of 2022. The mass market table games hold percentage was 30.0% in the fourth quarter of 2023, compared with 27.1% in the fourth quarter of 2022.
Gaming machine handle for the fourth quarter of 2023 was US$778.3 million, compared with US$124.5 million in the fourth quarter of 2022. The gaming machine win rate was 3.2% in the fourth quarter of 2023, compared with 2.7% in the fourth quarter of 2022.
Total non-gaming revenue at Studio City in the fourth quarter of 2023 was US$65.3 million, compared with US$9.6 million in the fourth quarter of 2022.
City of Dreams Manila Fourth Quarter Results
For the quarter ended December 31, 2023, total operating revenues at City of Dreams Manila were US$120.5 million, compared with US$95.2 million in the fourth quarter of 2022. City of Dreams Manila generated Adjusted EBITDA of US$48.8 million in the fourth quarter of 2023, compared with Adjusted EBITDA of US$23.6 million in the comparable period of 2022. The year-over-year increase in Adjusted EBITDA was primarily a result of better performance in the mass market segment and non-gaming operations.
City of Dreams Manila’s rolling chip volume was US$416.5 million in the fourth quarter of 2023 versus US$940.7 million in the fourth quarter of 2022. The rolling chip win rate was 3.97% in the fourth quarter of 2023 versus 1.84% in the fourth quarter of 2022. The expected rolling chip win rate range is 2.85%-3.15%.
Mass market table games drop increased to US$198.2 million in the fourth quarter of 2023, compared with US$148.2 million in the fourth quarter of 2022. The mass market table games hold percentage was 29.1% in the fourth quarter of 2023, compared with 31.9% in the fourth quarter of 2022.
Gaming machine handle for the fourth quarter of 2023 was US$1.08 billion, compared with US$1.02 billion in the fourth quarter of 2022. The gaming machine win rate was 5.3% in the fourth quarter of 2023 versus 4.7% in the fourth quarter of 2022.
Total non-gaming revenue at City of Dreams Manila in the fourth quarter of 2023 was US$30.3 million, compared with US$24.5 million in the fourth quarter of 2022.
City of Dreams Mediterranean and Other Fourth Quarter Results
The Company operates three satellite casinos in Cyprus in conjunction with City of Dreams Mediterranean.
Total operating revenues at City of Dreams Mediterranean and Other for the quarter ended December 31, 2023 were US$47.3 million, compared with US$28.7 million in the fourth quarter of 2022. City of Dreams Mediterranean and Other generated Adjusted EBITDA of US$4.7 million in the fourth quarter of 2023, compared with Adjusted EBITDA of US$10.5 million in the fourth quarter of 2022.
Rolling chip volume was US$6.4 million for the fourth quarter of 2023 versus US$1.1 million in the fourth quarter of 2022. The rolling chip win rate was negative 8.85% in the fourth quarter of 2023, compared with 16.43% in the fourth quarter of 2022. The expected rolling chip win rate range is 2.85% – 3.15%.
Mass market table games drop was US$87.6 million in the fourth quarter of 2023, compared with US$38.0 million in the fourth quarter of 2022. The mass market table games hold percentage was 22.1% in the fourth quarter of 2023, compared with 24.9% in the fourth quarter of 2022.
Gaming machine handle for the fourth quarter of 2023 was US$492.8 million, compared with US$392.4 million in the fourth quarter of 2022. The gaming machine win rate was 5.0% in both the fourth quarters of 2023 and 2022.
Total non-gaming revenue at City of Dreams Mediterranean and Other in the fourth quarter of 2023 was US$13.0 million, compared with US$0.2 million in the fourth quarter of 2022.
BETER, the award-winning provider of fast betting content, data, and live streaming for esports and sports, will showcase its full suite of products at SiGMA Asia, which will take place in Manila, the Philippines, from June 2 to 4. The exhibition will draw over 20,000 delegates, including 450+ exhibitors and sponsors.
BETER will welcome attendees at stand 2085, presenting its newest products for esports and sports.
BETER’s proprietary ESportsBattle tournaments deliver non-stop betting action across popular titles such as eFootball, eBasketball, and eHockey, totaling more than 35,000 events per month. The portfolio has recently expanded to include eCricket and eTennis, and attendees will get an exclusive first look at additional new disciplines.
BETER’s sports content includes its world-renowned Setka Cup table tennis tournaments and BSKT Cup basketball league. The company will also showcase its latest sports additions, including a cricket series, the GTR Cup tennis tournaments, and proprietary Padel tennis tournaments. Collectively, these three new offerings will total over 3,000 sports matches per month.
In total, bettors can now wager on 50,000+ of BETER’s fast-paced esports and sports events each month, with up to 50 markets per event and an average operator margin of 7.5%+. All matches feature 24/7 live streaming, real-time data, and odds.
BETER will also showcase its Esports Odds Feed, which provides market-leading odds across 450+ tournaments globally, covering 40,000+ live and pre-match events annually. Additionally, delegates can explore BETER’s upgraded iFrame and Managed Trading Services, as well as its advanced Esports Widgets, developed through a data partnership with GRID.
BETER’s industry impact is further underscored by its shortlisting in three categories at the SiGMA Asia Awards: Best Esports Provider, Best Sportsbook Provider, and Most Innovative Sportsbook Feature.
Gal Ehrlich, CEO of BETER, commented: “We’re excited to attend SiGMA Asia and to showcase our esports and sports products. Asia is one of the fastest-growing betting markets, where players seek high-speed, engaging experiences—exactly what we deliver.
“We’re already a go-to provider of in-demand content worldwide, with a growing list of operator partners. We look forward to welcoming delegates to our stand and giving them a firsthand look at our thrilling offerings.”
Chuck Robinson, CRO at BETER, added: “We provide premium fast betting content with 24/7 live streaming and data with a sustained margin retention of 7.5%+ while our commitment to integrity means just 0.01% of matches are flagged for suspicious activity.
“That’s why operators turn to BETER—to deliver next-gen betting experiences across esports and sports. We’re eager to showcase our comprehensive offering to the SiGMA Asia audience.”
The post BETER to Exhibit at SiGMA Asia appeared first on European Gaming Industry News.
Banijay Asia, a part of Banijay Entertainment, and NODWIN Gaming, a material subsidiary of Nazara Technologies, today announced a strategic partnership to revolutionize esports, gaming and youth entertainment in India. This collaboration marks a significant step in blending cutting-edge content with the booming gaming and youth culture ecosystem. As part of this alliance, Banijay Asia will take the helm in producing Playground, NODWIN Gaming’s flagship gaming reality show that has redefined the intersection of gaming, entertainment, and influencer culture in the region. The partnership will also bring new scripted and captive reality shows to daylight, with both companies co-developing new intellectual properties (IPs) and pioneering fresh content concepts across gaming, esports and youth culture.
Deepak Dhar, Founder & Group CEO – Banijay Asia & Endemol Shine India, commented, “This collaboration with NODWIN Gaming is an exciting extension of our vision to create content that resonates with evolving youth audiences. Gaming is not just a sport; it’s a culture, a lifestyle, and a massive content opportunity. With Playground and our upcoming IPs, we aim to redefine engagement and storytelling in this space.” He further added, “I look forward to the creative collaboration with Akshat Rathee, and Joost Roset who we previously worked with, in bringing iconic global IPs to India. This is an invaluable opportunity to create clutter-breaking formats in the youth and gaming space.”
With a diverse portfolio of high-impact IPs including the televised esports tournament – BGMI Masters Series (BGMS), Comic Con India, NH7 Weekender, and more, NODWIN Gaming is a key player in the gaming, esports and youth entertainment ecosystem.
Talking about the partnership, Akshat Rathee, Co-Founder & MD, NODWIN Gaming, said, “Youth entertainment is evolving rapidly, and our partnership with Banijay Asia positions us perfectly to lead that change. With Playground, we’ve just begun to explore what’s possible. Backed by Banijay’s global expertise, we’re now set to scale the IP across multiple languages and markets, with the ambition of building an international format. At the heart of our approach is our philosophy of ‘timeshare of mindshare’. We’re not just creating content, we’re creating cultural moments. The Rusk creative team will stay actively involved as we expand the universe of Playground, aiming to grow from one show to between five and ten each year. This is just the beginning of a bold new chapter in gaming and youth content.”
With gaming emerging as one of the most influential youth-driven industries, this partnership is poised to set new benchmarks in how gaming and entertainment are consumed in India. By leveraging Banijay Asia’s expertise in content creation and NODWIN Gaming’s deep-rooted understanding of gaming communities, the collaboration promises to push creative boundaries and capture the imagination of young audiences nationwide.
Banijay Entertainment has strong expertise in the gaming space, via its global distribution arm Banijay Rights, with successful gaming activations leveraging key brands including Peaky Blinders, Black Mirror, Simon’s Cat and MasterChef.
The post Banijay Asia and NODWIN Gaming form Strategic Partnership to Amplify Youth Engagement in India appeared first on European Gaming Industry News.
NOVOMATIC enjoyed a highly successful presence at this year’s G2E Asia, which was held from May 7–9 at The Venetian Macao. The company impressed visitors with a well-curated portfolio of advanced gaming solutions that are specifically tailored to the Asian market – drawing a strong attendance, excellent customer engagement, and positive feedback across the board.
Strong customer interest in next-generation product highlights
This year’s showcase focused on delivering both innovation and regional relevance, with a lineup designed to elevate the player experience and boost operator performance. One of the standout attractions was the DIAMOND X™ 1.55J QUATTRO, which returned with significant upgrades in both design and performance. The cabinet was presented with the current Linked Progressive highlights, such as XTENSION LINK™ Volume 3 and Volume 4, while the all-new XTENSION LINK™ Evolution, proved especially popular for its eye-catching presence and engaging game mechanics. The DIAMOND X™ 2.32/3.32 multi-screen version, equipped with the GAMINATOR™ X5, showcased a versatile selection of entertaining titles that are tailored for the region.
Equally well-received was the BLACK EDITION II series: The BLACK EDITION II XL 2.32/3.32 captivated operators with the highly popular IMPERA LINK™ Series 2, while the BLACK EDITION II 1.49J brought together the powerful Impera PROLINK™ and the latest addition to the game portfolio, RISING TREASURES™. Proven performers like the MASTER SL™ 2.32/3.32, which also featured GAMINATOR™ X5, rounded out the offering and demonstrated NOVOMATIC’s strength in both innovation and reliability.
Casino solutions driving future growth
Further highlights included the NOVO UNITY™ PRO, NOVOMATIC’s advanced electronic table game (ETG) platform that enables players to join up to three live games simultaneously – such as Sic Bo, Baccarat, or Roulette – on one station. Highly customizable in its setup, the system allows operators to adapt game configurations, layouts, and betting options to local preferences and regulatory requirements. Its interactivity and flexibility were praised by operators as key advantages in engaging today’s players.
The NOVOVISION™ Casino Management System also made a strong impression with its comprehensive suite of functionalities: biometric access, single-wallet capabilities, advanced player loyalty features, and much more – all of which are aimed at delivering next-level efficiency and security in casino operations.
Kenan Bajram, Deputy Director Global Sales at NOVOMATIC AG, reflected on the successful event: “G2E Asia 2025 was once again an outstanding opportunity to engage with partners from across the region and present the full scope of our technology portfolio. Asia’s land-based gaming market is as diverse as it is dynamic – each country has its own regulatory framework, technical standards, and player preferences. Our success at this year’s show confirms that NOVOMATIC is well-positioned to meet these varied demands with tailored solutions that combine innovation, reliability, and full regulatory compliance. The positive feedback we received – especially for our DIAMOND X™ and BLACK EDITION II series, as well as for the NOVO UNITY™ PRO ETG solution – reinforces our commitment to supporting our customers in key markets such as Malaysia, the Philippines, and beyond.”
The post NOVOMATIC celebrates a successful showcase at G2E Asia 2025 appeared first on European Gaming Industry News.
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