Macau International Development (00200) announced its 2023 results, with net revenue of HK$29.53 billion, an increase of 1 per cent over the previous year...
According to the Zhitong Finance App, Melco International Development (00200) announced its 2023 results, with net revenue of HK$29.53 billion, an increase of 179.5% over the previous year. The loss attributable to the owners of the company was HK$1,744 million, a year-on-year decrease of 65.89%; the basic loss per share was HK$1.16.
According to the announcement, the increase in net revenue is mainly due to Macau's easing of restrictions related to COVID-19 in January 2023 and the opening of the second phase of City of Dreams Mediterranean and Studio City, as well as the opening of the Studio City Superstar Exclusive concert series in 2023, which led to an increase in the performance of casino and hotel operations in 2023.
The narrowing of losses was mainly due to an increase in net income, but the increase was partially offset by an increase in net interest expenses and an increase in asset impairment in Macau's Melco.