Melco Resorts Recorded Profit Growth
Melco resorts and entertainment ltd reported profit growth in the 4th quarter of 2018 by 57.7%.
The company registered on nasdaq exchange reported that net profit for the three months ended on december 31 was $ 128 million. The same period of 2017 amounted to $ 81.2 million.
The board of directors melco resorts also announced an increase in quarterly dividends for $ 0.0517 per share. The dividend policy of the company was revised last year. They will be paid to shareholders on march 4.
Melco resorts manages three integrated resorts in macao: city of dreams macau, studio city and altira macau, as well as city of dreams manila in the philippines.
Pure revenue for the fourth quarter of 2018 amounted to about $ 1.40 billion, which is 4.8% more than in the previous year. The company’s press release states that improving productivity «first of all, it is associated with an increase in gross revenue from slot machines and board games for the mass market».
Operating profit for the reporting period amounted to $ 204 million, of which $ 129 million (an increase of 58.One%) – in the fourth quarter of 2018.
Adjusted profit from the property to the deduction of interest, taxation, depreciation and depreciation (ebitda) for three months amounted to $ 425.2 million, which is 25.1% more than in the previous year. The indicator has become a new record for melco resorts.
«The results were influenced by reserves for doubtful debts. In the fourth quarter of 2018, melco resorts received a refund over this point in the amount of $ 11 million», – market analysts sanford bernstein vitaly umansky, unice lee and kelsy zhu.
Recall that the profit is kangwon land inc – operator of the only casino resort casino operator in south korea, open for locals, – fell by 75.8% in the fourth quarter of 2018.