Melco International Development Limited, the Hong Kong-listed parent company of Macau concessionaire Melco Resorts & Entertainment, reported a 2.7% year-on-year increase in net revenues to HK$20.5 billion (US$2.62 billion) for the six months to 30 June 2026, boosted by the improved performance of its gaming operations in Macau, Manila and Cyprus.
However, profit attributable to owners of the company fell by 11.8% to HK$309.5 million (US$39.5 million) and Adjusted EBITDA by 5.8% to HK$5.06 billion (US$646 million), with the company citing higher operating costs for the increase in business activity.
It also pointed to a HK$25.4 million (US$3.2 million) impairment of non-financial assets, an additional HK$25.4 million impairment related to the under-performance of Altira Macau and a HK$27.4 million (US$3.5 million) impairment for the trademarks of Mocha Clubs after three of its Mocha Clubs venues ceased operations late last year.
The results, filed overnight, come after Melco Resorts previously reported a 10.9% year-on-year increase in 1Q26 operating revenues to US$1.37 billion but a 5.7% decline in operating revenues to US$1.25 billion in 2Q26.
Melco International said it has not declared an interim dividend for the period.
“In the first half of 2026, following a solid start to the year in Macau, the Group’s operating performance moderated in the second quarter amid near-term headwinds,” said Group Chairman and CEO, Lawrence Ho.
“During this period, the Group maintained a disciplined approach to operations and capital allocation, with a focus on margin management, operational efficiency and targeted investments aimed at enhancing the guest experience.
“In Macau, we are pursuing targeted, experience-led initiatives to capture emerging opportunities as the city’s tourism momentum continues to gain momentum. At City of Dreams, the phased opening of REM has commenced in the third quarter of 2026. Together with the new gaming area near the southwest entrance and the transformation of the retail area, these developments are expected to further broaden the property’s appeal to high-value customer segments.
“Furthermore, Studio City continues to diversify Macau’s tourism landscape with family‑friendly attractions including the ‘Studio City Stardust’ 4D entertainment experience, alongside a vibrant line‑up of major international sporting events and top‑tier concerts.
“Beyond Macau, our diversified portfolio continued to demonstrate resilience amid varying market conditions. City of Dreams Manila achieved year-on-year growth amidst macroeconomic pressures and a highly competitive gaming landscape. In Cyprus, City of Dreams Mediterranean and our satellite casinos recorded improved performance as regional travel disruptions eased, though we continue to navigate geopolitical uncertainties with prudent cost management and targeted marketing.
“Meanwhile, City of Dreams Sri Lanka continues to build momentum following its first full year of operations, further establishing itself as a premier destination in South Asia and validating our international growth strategy.
“Looking ahead, competition remains intense, yet meaningful growth opportunities persist across the Group’s markets. We remain focused on disciplined execution, strategic investment and operational excellence to further enhance the guest experience, strengthen market positioning and drive long-term value creation.”
