According to the Zhitong Finance App, Melco International Development (00200) announced the results of the first quarter of 2024. The total operating revenue was US$1,112 million, an increase of about 55.26% over the previous year. The increase in total operating revenue is mainly due to the continued recovery in inbound visitors to Macau in the first quarter of 2024, which led to an improvement in the performance of all gaming divisions and non-gaming operations.
The net income attributable to MIA Entertainment for the first quarter of 2024 was US$15.2 million, or US$0.03 per ADR share, while the first quarter of 2023 was a net loss of US$81.3 million, or negative $0.18 per ADR share. Net losses attributable to non-controlling interests for the first quarter of 2024 and 2023 were US$14.6 million and US$19.4 million, respectively, all related to Studio City, City of Dreams (Manila), City of Dreams Mediterranean and others.