Melco Resorts Philippines has posted a net loss of P2.4 billion (US$49.3 million) in the three months ended June 30, 2020, due to the temporary closure of its casino amidst the COVID-19 outbreak in the Philippines.
The company, which operates the City of Dreams Manila in Entertainment City, saw a significant drop in total net operating revenues as a result of the temporary closure of business and the imposition of prohibition measures.
Total net operating revenues were P387.2 million, down from P9.2 billion. Melco said this was partially offset by lower operating costs and expenses during the period.
Adjusted EBITDA was negative P1.1 billion, compared to P4.3 billion in the prior-year period.
Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.
ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264