Macau's Studio City Q3 revenue falls on weaker mass market
Overview
Macau integrated resort's Q3 revenue fell yr/yr on softer mass market and non-gaming performance
Adjusted EBITDA declined yr/yr, reflecting lower casino contract and non-gaming revenue
Net loss attributable narrowed from prior year despite lower revenues
Outlook
Company did not provide specific financial guidance for future quarters or the full year in the press release
Result Drivers
MASS MARKET SLOWDOWN - Co said softer performance in mass market operations led to lower casino contract revenue
NON-GAMING WEAKNESS - Co reported lower non-gaming revenues compared to prior year
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | $163.30 mln | ||
Q3 Net Loss attributable to company | $13.10 mln | ||
Q3 Adjusted EBITDA | $65.50 mln | ||
Q3 Capex | $6.10 mln | ||
Q3 Operating Income | $14.70 mln |
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)