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Macau's Studio City Q3 revenue falls on weaker mass market

By Reuters News


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


Reuters Recommended Reads

  • Nov 3 - SGHC Q3 revenue rises 10% but misses estimates

  • Nov 3 - Red Rock Resorts Q3 revenue beats estimates on Las Vegas growth

  • Nov 4 - Flutter pauses share buybacks to focus on deleveraging, cost savings


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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