Melco International revenue up 10% in H1 2021

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    Melco International revenue up 10% in H1 2021

    Melco International Development has reported revenue of HK$8.43bn (US$1.08bn) for the first half of 2021, a 10% increase from the prior-year period.

    The company, which owns four casinos in Macau, reported adjusted EBITDA of HK$732.5m, compared to a negative adjusted EBITDA of HK$886.2m for the first six months of 2020.

    The group’s loss after tax meanwhile was HK$3.75bn, compared to HK$7.06bn for the first half of last year.

    Melco Chairman and CEO Lawrence Ho welcomed the gradual return of visitors and the easing of travel restrictions, and pointed to the areas which the company will focus on in the coming months.

    “Macau has enjoyed a steady recovery in its overall economy as travel restrictions loosen and visitors gradually return,” said 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.”

    Meanwhile, Melco’s Get the Jab immunity incentive program to support the Government’s efforts for vaccination against Covid-19 has been widely praised, with over 70% of the company’s staff in Macau and Hong Kong now vaccinated.

    “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,” added Ho.