Melco Resorts & Entertainment Press Release, 27 February 2025
https://ir.melco-resorts.com/news-releases/news-release-details/melco-announces-unaudited-fourth-quarter-2024-earnings
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, 2024 were US$59.2 million, compared with US$47.3 million in the fourth quarter of 2023. City of Dreams Mediterranean and Other generated Adjusted EBITDA of US$11.8 million in the fourth quarter of 2024, compared with Adjusted EBITDA of US$4.7 million in the fourth quarter of 2023. The year-over-year increase in Adjusted EBITDA was primarily attributable to the continued ramp up of operations following the opening of City of Dreams Mediterranean in mid-2023, which led to a better performance in the mass market segment and non-gaming operations.
Rolling chip volume was US$5.2 million for the fourth quarter of 2024 versus US$6.4 million in the fourth quarter of 2023. The rolling chip win rate was 3.06% in the fourth quarter of 2024, compared with negative 8.85% in the fourth quarter of 2023. The expected rolling chip win rate range is 2.85%-3.15%.
Mass market table games drop was US$126.5 million in the fourth quarter of 2024, compared with US$87.6 million in the fourth quarter of 2023. The mass market table games hold percentage was 21.8% in the fourth quarter of 2024, compared with 22.1% in the fourth quarter of 2023.
Gaming machine handle for the fourth quarter of 2024 was US$567.3 million, compared with US$492.8 million in the fourth quarter of 2023. The gaming machine win rate was 5.2% in the fourth quarter of 2024 versus 5.0% in the fourth quarter of 2023.
Total non-gaming revenue at City of Dreams Mediterranean and Other in the fourth quarter of 2024 was US$19.4 million, compared with US$13.0 million in the fourth quarter of 2023.