Labour supply issues at Melco have now mostly been resolved as Melco opens its doors wider to meet the growing customer demand in Macau, chairman and CEO Lawrence Ho said in Melco’s revenue report.
The group’s revenues for the first six months of the year totaled HKD13.04 billion, an increase of 116.4% compared to the HKD6.03 billion recorded in the corresponding period of 2022.
Aside from the relaxation of Covid-19 related restrictions in January, the gaming operator attributed the improved performance to openings of Studio City Phase 2’s Epic Tower and indoor waterpark in April 2023, as well as the launch of residency concerts at Studio City in the same month.
Losses for the period were HKD1.40 billion, compared with a loss of HKD4.58 billion in the same period of 2022.
“The group was able to swiftly launch several exciting new initiatives once the markets recovered. […] With most labour supply issues now largely resolved, the group has the operational capacity in place to meet the growing customer demand across Macau.”
This September, Melco will launch W Macau at Studio City, adding approximately 560 hotel rooms to its portfolio.
Outside of Macau, the mass market segment is also driving recovery in the Philippines, with gaming volume at City of Dreams Manila continuing to outperform 2019 levels, according to the chairman.
