Melco Resorts believes that the closure of Macau’s satellite casino sector will help drive business to its Altira property in Taipa.
Results at the property have plateaued somewhat with revenues of US$28.3m, compared with US$29.3m in the second quarter of 2024 with mass market table games drop down to US$119m from US$134.4m and slot handle down to US$114.9m.
Speaking at Melco’s latest earnings conference, Lawrence Ho, Chairman and Chief Executive Officer, commented: “We’re quite excited about some of the satellite closures. It’s an opportunity for Altira because, other than the Cotai mega integrated resorts and some of the casinos on Macau Peninsula, Altira will be effectively the only game in Taipa. We’re closing three Mocha units as well, and so we’re equally enthusiastic about what we can do to optimise our gaming unit by moving some of those gaming machines to City of Dreams and Studio City. All in all, it will consolidate the business at the remaining casinos and integrated resorts. I think with some of the satellites on the Peninsula side, we’ll see if we can try to draw some of them over to Taipa and Altira.”
Melco will cease operations of the Grand Dragon Casino and three Mocha Clubs before the end of 2025. It will be continuing operations of the other three Mocha Clubs, namely, Mocha Inner Harbour, Mocha Hotel Sintra and Mocha Golden Dragon.
The comments came as Melco delivered revenues for the second quarter of 2025 of US$1.33bn, representing an increase of approximately 15 per cent from US$1.16bn for the comparable period in 2024. The increase in total operating revenues was primarily attributable to the improved performance in both overall gaming and non-gaming operations in Macau.
Mr Ho said: “We achieved a strong set of results for the second quarter of 2025 in Macau. Macau Property EBITDA grew 35 per cent year-over-year and 13 per cent quarter-to-quarter. Gaming volumes and revenue increased, with City of Dreams Macau and Studio City setting new records in mass market table games revenue. This was further supported by increases in cost efficiencies leading to stronger margins. We are confident that the strategic initiatives we implemented have set us up on a solid foundation for continued growth.
Gaming volumes and revenues were up with mass table games revenue at both City of Dreams and Studio City reaching all-time highs. House of Dancing Water reopened in May with a refreshed storyline and enhanced visuals incorporating a variety of new technologies.
Mr Ho said: “We’ve had great feedback with occupancy of the theater at an average of around 98 per cent since the opening, contributing to growing non-gaming revenue and visitation into Macau. Visitation to COD Macau increased 31 per cent year-on-year over the second quarter. Average daily property visitation to our Macau properties has continued to grow, reaching record levels in July.
“We are continuing to work on a number of additional initiatives in Macau to drive traffic and revenue. We have started the renovation of the main entrance to City of Dreams, which will increase visibility and accessibility to the property. We are finalizing plans for the full renovation of the Countdown hotel, which we currently plan to open in the second — in the third quarter of 2026. The Macau will be newly branded with approximately 150 high-end luxury suites and an average room size in excess of 1,000 square feet. We believe the concept we have for this hotel will bring a one-of-a-kind experience to Macau and add to the high-end luxury hotel portfolio that we have at City of Dreams. Additionally, we continue to implement enhancements in our gaming areas across our Macau properties to broaden our service and product offerings and elevate the gaming experience for our premium mass customers.”
In the Philippines, Melco said the heightened competitive environment continued to impact performance in the second quarter of 2025. Revenue at City of Dreams Manila came in at US$98.5m, compared with US$109m due to primarily a result of softer performance in all gaming operations.
Mr Ho said: “In response, we have implemented various cost reduction initiatives, including rationalization of our patron reinvestment and marketing expenses. We are already seeing the results of these initiatives with higher profitability, along with a recovery in gaming revenue in July.”
In Cyprus, City of Dreams Mediterranean and the satellite casinos were impacted by the Iran-Israel war in June although revenues reached US$72.3m, compared with US$58.7m in the second quarter of 2024.
Mr Ho explained: “Recovery has been faster than expected and GGR has now surpassed pre-war levels. Based on our forward bookings for the remainder of the summer, we’re cautiously optimistic that the property can deliver strong results over the remainder of the peak season.”
The post Melco hopeful of driving business to Altira Macau following satellite closures appeared first on G3 Newswire.
Melco Resorts believes that the closure of Macau’s satellite casino sector will help drive business to its Altira property in Taipa. Results at the property have plateaued somewhat with revenues of US$28.3m, compared with US$29.3m in the second quarter of 2024 with mass market table games drop down to US$119m from US$134.4m and slot handle…
The post Melco hopeful of driving business to Altira Macau following satellite closures appeared first on G3 Newswire.