Melco parent reports rising revenues, narrowed loss in first half of 2021

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Melco International Development, the parent company of Melco Resorts & Entertainment, has reported a 9.7% increase in net revenues to HK$8.43 billion for the six months to 30 June 2021.

The increase was largely due to an improvement in performance across the mass market table games segment at Melcos Macau integrated resorts, plus and non-gaming operations, owing to an increase in inbound tourism in Macau, the company said.

Loss after tax narrowed from HK$7.06 billion in 1H20 to HK$3.75 billion.

Macau has enjoyed a steady recovery in its overall economy as travel restrictions loosen and visitors gradually return, said Melco Chairman and CEO, Lawrence Ho.

This also led to a gradual recovery in business levels at our integrated resorts during the second quarter of 2021. With the most notable recovery currently being driven by mass and premium mass-market players, we will continue to focus on the development of these market segments going forward.

We are encouraged by the progress of the COVID-19 vaccine rollouts in Macau, Hong Kong and China, and, along with the increasing vaccination rates across the globe, the relaxation of current travel restrictions is becoming more likely, and the recovery of the tourism industry edges closer. In the meantime, the Group will continue to ensure the safety of its guests and employees around the world and utilize its wealth of experience to remain resilient in the face of the current challenging operating environment.