ResortsThe casino and hotels operator recorded an uptick in 3Q 2021, and will proceed with plans for new theme park in Zhongshan.

Macau's Melco International reports a "gradual recovery"

Melco also runs City of Dreams (pictured), Studio City and Morpheus on Cotai.
Melco also runs City of Dreams (pictured), Studio City and Morpheus on Cotai.

Melco International, which owns four casinos in Macau and hotels, has reported a "gradual recovery in business levels" in 3Q 2021, notably driven by mass and premium mass-market players, said Chairman and CEO Lawrence Ho Yau Lung.

Net revenues rose year-on-year by 9.7 per cent to HK$8.43 billion (US$1.08 billion) in the first half of the year, according to a company statement. Company loss was also halved (HK$3.75 billion), compared to HK$7.06 billion for the first half of 2020.

As such, the company will be placing its future focus on the development of these two market segments, including the repositioning of Altira Macao to cater to the premium mass segments from the third quarter of this year.

Melco, which also runs City of Dreams, Studio City and Morpheus on Cotai will also be extending its portfolio to theme park operator, when a mixed-use development in Zhongshan in China's Guangdong province opens in 2025.

Power to the People
April - June 2022 eBook

Tough times never last, but tough people do. Just look to these resilient travel agents, who bounce back stronger from the pandemic.

Read Now

JDS Travel News JDS Viewpoints JDS Africa/MI