Future Looking Bright for Macau Casino Industry
According to Melco Resorts and Entertainment, the future is looking bright for the Macau casino industry, despite the travel restrictions band quarantine measures which are still in place.
The third-quarter revenue figures for Melco Resorts and Entertainment increased by 110% compared to the same period in 2020 and has been attributed to an all-round increase in gaming and non-gaming operations due to the improved tourism in Macau.
A slight loss was reported for the group’s Cypris casinos, with an overall operating loss for the group when adjusted EBITDA is taken into account.
Macau remains one of the safest regions in the world thanks to the government’s careful handling of the global pandemic, and we applaud the government’s effort to further increase vaccination rates towards the goal of increasing immunity in Macau. At Melco, we continue to encourage vaccination uptake as a key company objective that will help to ensure a safe environment for colleagues, guests, and the community at large. Thanks to strong participation in our “Get the Jab” vaccination incentive campaign, Melco’s vaccination rate in Macau has reached close to 95 percent.
We look forward to further travel integration between mainland China and Macau, once Macau achieves an acceptable vaccination rate, and we remain fully committed to doing our part for the betterment of the community.
It has also been reported that the group continues to be committed to their Macau investment, where they are regarded as a leader behind the growth in the Macau economy.
Their Studio City project is due for completion by the end of 2022, and in Europe, City of Dreams Mediterranean is on course for opening in the second half of 2022.