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Melco Announces Unaudited Second Quarter 2023 Earnings

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Melco Resorts & Entertainment Limited, a developer, owner, and operator of integrated resort facilities in Asia and Europe, reported its unaudited financial results for the second quarter of 2023.

Total operating revenues for the second quarter of 2023 were US$947.9 million, representing an increase of approximately 220% from US$296.1 million for the comparable period in 2022. The increase in total operating revenues was primarily attributable to the improved performance in all gaming segments and non-gaming operations primarily due to the relaxation of COVID-19 related restrictions in Macau in January 2023, the openings of Studio City Phase 2’s Epic Tower and indoor waterpark in April 2023, as well as the launch of residency concerts at Studio City in the same month.

Operating income for the second quarter of 2023 was US$64.3 million, compared with operating loss of US$209.2 million in the second quarter of 2022.

Melco generated Adjusted Property EBITDA(1) of US$267.3 million in the second quarter of 2023, compared with negative Adjusted Property EBITDA of US$13.8 million in the second quarter of 2022.

Net loss attributable to Melco Resorts & Entertainment Limited for the second quarter of 2023 was US$23.4 million, or US$0.05 per ADS, compared with US$251.5 million, or US$0.53 per ADS, in the second quarter of 2022. The net loss attributable to noncontrolling interests was US$27.7 million and US$43.2 million during the second quarters of 2023 and 2022, respectively, all of which were related to Studio City, City of Dreams Manila, and City of Dreams Mediterranean and Other.

Mr. Lawrence Ho, our Chairman and Chief Executive Officer, commented, “The strength of our Macau recovery is evident in the 43% increase in gross gaming revenue in the second quarter of 2023 compared to the first quarter of 2023. We’ve seen mass drop increase month-to-month and turnover in our premium direct VIP segment continued to exceed 2019 during the second quarter.

“Labor supply issues in Macau have been largely resolved. We have been able to provide our customers with Melco’s full suite of services and amenities. We expect to add another 560 hotel rooms to our portfolio with the opening of W Macau at Studio City in September and are well positioned to support the continuing increase of customers in Macau.

“The mass segment is also leading the recovery in the Philippines, continuing to outperform 2019 in the second quarter of 2023. And in Cyprus, we opened City of Dreams Mediterranean to the public in July after a successful soft opening in June, and we’re excited for its prospects as we ramp up our operations.

“Environmental sustainability is built into the core of our business and embedded in our operations. Examples of this include the sophisticated water filtration system installed in our waterpark at Studio City to reduce water consumption and improve water reuse and meticulously-designed sustainable packaging and amenities that are free of single-use plastics. We are also continuing our work towards achieving BREEAM certifications for Studio City Phase 2 and City of Dreams Mediterranean following the construction completion of these properties.”

City of Dreams Second Quarter Results

For the quarter ended June 30, 2023, total operating revenues at City of Dreams were US$506.2 million, compared with US$97.3 million in the second quarter of 2022. City of Dreams generated Adjusted EBITDA of US$161.2 million in the second quarter of 2023, compared with negative Adjusted EBITDA of US$28.5 million in the second quarter of 2022. The year-over-year increase in Adjusted EBITDA was primarily a result of better performance in all gaming segments and non-gaming operations.

Rolling chip volume was US$5.76 billion for the second quarter of 2023 versus US$748.1 million in the second quarter of 2022. The rolling chip win rate was 2.88% in the second quarter of 2023 versus 2.57% in the second quarter of 2022. The expected rolling chip win rate range is 2.85% – 3.15%.

Mass market table games drop increased to US$1.24 billion in the second quarter of 2023, compared with US$209.1 million in the second quarter of 2022. The mass market table games hold percentage was 32.0% in the second quarter of 2023, compared with 33.0% in the second quarter of 2022.

Gaming machine handle for the second quarter of 2023 was US$771.5 million, compared with US$217.1 million in the second quarter of 2022. The gaming machine win rate was 2.8% in the second quarter of 2023 versus 2.7% in the second quarter of 2022.

Total non-gaming revenue at City of Dreams in the second quarter of 2023 was US$68.9 million, compared with US$24.3 million in the second quarter of 2022.

Altira Macau Second Quarter Results

For the quarter ended June 30, 2023, total operating revenues at Altira Macau were US$29.3 million, compared with US$7.2 million in the second quarter of 2022. Altira Macau generated Adjusted EBITDA of US$4.3 million in the second quarter of 2023, compared with negative Adjusted EBITDA of US$11.3 million in the second quarter of 2022. The year-over-year increase in Adjusted EBITDA was primarily a result of better performance in all gaming segments and non-gaming operations.

In the mass market table games segment, drop was US$116.6 million in the second quarter of 2023 versus US$29.3 million in the second quarter of 2022. The mass market table games hold percentage was 24.2% in the second quarter of 2023, compared with 17.5% in the second quarter of 2022.

Gaming machine handle for the second quarter of 2023 was US$82.0 million, compared with US$41.5 million in the second quarter of 2022. The gaming machine win rate was 3.3% in the second quarter of 2023 versus 4.2% in the second quarter of 2022.

Total non-gaming revenue at Altira Macau in the second quarter of 2023 was US$4.9 million, compared with US$1.9 million in the second quarter of 2022.

Mocha and Other Second Quarter Results

Total operating revenues from Mocha and Other were US$28.8 million in the second quarter of 2023, compared with US$17.0 million in the second quarter of 2022. Mocha and Other generated Adjusted EBITDA of US$6.7 million in the second quarter of 2023, compared with Adjusted EBITDA of US$2.5 million in the second quarter of 2022.

Mass market table games drop was US$41.4 million in the second quarter of 2023 versus US$0.4 million in the second quarter of 2022. The mass market table games hold percentage was 18.2% in the second quarter of 2023 versus 26.9% in the second quarter of 2022.

Gaming machine handle for the second quarter of 2023 was US$502.8 million, compared with US$406.8 million in the second quarter of 2022. The gaming machine win rate was 4.5% in the second quarter of 2023 versus 4.2% in the second quarter of 2022.

Studio City Second Quarter Results

For the quarter ended June 30, 2023, total operating revenues at Studio City were US$236.0 million, compared with US$35.9 million in the second quarter of 2022. Studio City generated Adjusted EBITDA of US$41.1 million in the second quarter of 2023, compared with negative Adjusted EBITDA of US$31.1 million in the second quarter of 2022. The year-over-year increase in Adjusted EBITDA was primarily a result of better performance in the mass market table games segment and non-gaming operations.

Studio City’s rolling chip volume was US$789.5 million in the second quarter of 2023 versus US$104.1 million in the second quarter of 2022. The rolling chip win rate was 1.43% in the second quarter of 2023 versus 5.33% in the second quarter of 2022. The expected rolling chip win rate range is 2.85% – 3.15%.

Mass market table games drop increased to US$716.6 million in the second quarter of 2023, compared with US$93.2 million in the second quarter of 2022. The mass market table games hold percentage was 25.5% in the second quarter of 2023, compared with 25.7% in the second quarter of 2022.

Gaming machine handle for the second quarter of 2023 was US$595.4 million, compared with US$201.7 million in the second quarter of 2022. The gaming machine win rate was 3.4% in the second quarter of 2023, compared with 2.5% in the second quarter of 2022.

Total non-gaming revenue at Studio City in the second quarter of 2023 was US$74.3 million, compared with US$8.3 million in the second quarter of 2022.

City of Dreams Manila Second Quarter Results

For the quarter ended June 30, 2023, total operating revenues at City of Dreams Manila were US$116.4 million, compared with US$111.7 million in the second quarter of 2022. City of Dreams Manila generated Adjusted EBITDA of US$47.0 million in the second quarter of 2023, compared with Adjusted EBITDA of US$49.0 million in the comparable period of 2022.

City of Dreams Manila’s rolling chip volume was US$520.2 million in the second quarter of 2023 versus US$771.3 million in the second quarter of 2022. The rolling chip win rate was 3.10% in the second quarter of 2023 versus 2.95% in the second quarter of 2022. The expected rolling chip win rate range is 2.85% – 3.15%.

Mass market table games drop increased to US$194.5 million in the second quarter of 2023, compared with US$178.4 million in the second quarter of 2022. The mass market table games hold percentage was 31.3% in the second quarter of 2023, compared with 29.0% in the second quarter of 2022.

Gaming machine handle for the second quarter of 2023 was US$1.01 billion, compared with US$925.6 million in the second quarter of 2022. The gaming machine win rate was 4.8% in the second quarter of 2023 versus 5.3% in the second quarter of 2022.

Total non-gaming revenue at City of Dreams Manila in the second quarter of 2023 was US$28.7 million, compared with US$27.3 million in the second quarter of 2022.

City of Dreams Mediterranean and Other Second Quarter Results

City of Dreams Mediterranean officially opened to the public on July 10, 2023, after a soft opening in June. The Company continues to operate three satellite casinos in Cyprus in conjunction with City of Dreams Mediterranean (collectively, the “Cyprus Casinos”).

Total operating revenues at the Cyprus Casinos for the quarter ended June 30, 2023 were US$30.9 million, compared with US$21.7 million in the second quarter of 2022. The Cyprus Casinos generated Adjusted EBITDA of US$6.9 million in the second quarter of 2023, compared with Adjusted EBITDA of US$5.6 million in the second quarter of 2022. The year-over-year increase in Adjusted EBITDA was primarily a result of better performance in the mass market segment.

Rolling chip volume was US$0.1 million in both the second quarters of 2023 and 2022. The rolling chip win rate was 2.52% in the second quarter of 2023, compared with negative 6.12% in the second quarter of 2022. The expected rolling chip win rate range is 2.85% – 3.15%.

Mass market table games drop was US$47.0 million in the second quarter of 2023, compared with US$31.4 million in the second quarter of 2022. The mass market table games hold percentage was 21.9% in the second quarter of 2023, compared with 19.5% in the second quarter of 2022.

Gaming machine handle for the second quarter of 2023 was US$391.7 million, compared with US$315.9 million in the second quarter of 2022. The gaming machine win rate was 5.1% in the second quarter of 2023 versus 5.0% in the second quarter of 2022.

Total non-gaming revenue at City of Dreams Mediterranean and Other in the second quarter of 2023 was US$1.9 million, compared with US$0.1 million in the second quarter of 2022.

Other Factors Affecting Earnings

Total net non-operating expenses for the second quarter of 2023 were US$116.5 million, which mainly included interest expenses of US$123.5 million, net of amounts capitalized, partially offset by interest income of US$5.0 million.

Depreciation and amortization costs of US$136.5 million were recorded in the second quarter of 2023, of which US$5.7 million related to the amortization expense for land use rights.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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EGT Digital to present its brand-new products designed to perform at iGB Live 2025

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This year’s iGB Live is the next destination where EGT Digital will present a selection of impressive new releases, product upgrades and popular bestsellers from its portfolio. Visitors will have the opportunity to explore the company’s latest innovations at stand N50.

Part of the exciting new lineup is the upcoming slot Power & Glory: Athena, which will be launched as part of the popular Clover Chance jackpot series. The game invites players to challenge the Greek goddess in exchange for a rich mix of cascading wins and dynamic bonus features.

Together with it, guests can explore EGT Digital’s extensive portfolio of over 140 in-house developed casino titles, covering a wide variety of themes and mechanics. On display will be also the company’s standout jackpot solutions Bell Link, High Cash, Single Progressive Jackpot, and the latest Gods & Kings Link.

EGT Digital’s iGaming platform X-Nave will demonstrate how its modular architecture helps operators build and grow successful online businesses. Its 4 main modules – Sport Product, Gaming Aggregator, CRM Engine, and Payment Gateway, can be used as part of the complete solution or integrated individually into third-party platforms. Each module has been upgraded with new functionalities, which will be showcased at iGB Live 2025.

New features are coming to the Sport Product module, bringing a more dynamic and personalized betting experience. Among the highlights is the Early Payout option for live events, giving players the chance to lock in a win as soon as their team takes a 2-goal lead. The updated eSports menu introduces a new visually engaging layout that makes browsing and navigation effortless. To further tailor the experience, the new Sports Recommendation Engine delivers real-time, personalized suggestions based on individual betting history and behavior. A predefined multiple bets container now appears in the Sports lobby, displaying both original and boosted odds. With the enhanced Quick Deposit feature, players can top up their accounts instantly while staying within their financial limits.

X-Nave’s Gaming Aggregator will present its expanded game library, which now includes more than 24,000 titles from over 150 providers. Attendees will get acquainted with the Client Hub, which offers easy access to game resources and features, jackpots, documentation, and certificates. In addition, now operators will be able to manage bonuses through the Aggregator, thanks to the module’s built-in bonus support.

The Payment Gateway will introduce several important upgrades designed to improve flexibility and player convenience. One of the latest additions is the Stacking Deposits feature, which allows multiple consecutive deposits to be combined toward activating a bonus. The PIX method now enables players to make deposits straight from the game window, while the Quick Deposit functionality continues to support fast and seamless top-ups. The platform users will also have at their disposal Google Pay as a deposit option and Apple Pay as a withdrawal option. Fully automated deposits and withdrawals via bank transfer will be also available.

Last but not least, the Standalone payment gateway will be presented too. This is a new separate product, which includes all features of the Payment Gateway: transaction monitoring, rule engine, integrations with payment methods, and allows integration with X-Nave and platforms of other providers.

Tsvetomira Drumeva, Head of Sales at EGT Digital, commented: “I always look forward to iGB Live, as this event traditionally provides us with the chance to showcase our innovative solutions to a wide range of professionals from all over the world and to strengthen our existing partnerships, as well as start new high-potential collaborations. This year, my excitement is even greater as the show will be held in a new place – London, which has already established itself over the years as a preferred location for holding large-scale gaming exhibitions. I am confident that our participation in iGB Live 2025 will be a great success, meeting and even exceeding our expectations.”

The post EGT Digital to present its brand-new products designed to perform at iGB Live 2025 appeared first on European Gaming Industry News.

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iGaming Trends 2025: First Half-Year Regulations Recap

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SOFTSWISS, a global tech provider of iGaming software solutions, releases a fresh regulatory update as part of its renowned iGaming Trends 2025 report. With regulation remaining one of the industry’s most pressing topics, the company highlights the latest developments from key markets worldwide.

The full recap is divided by countries, covering 24 jurisdictions in total. Below is a condensed selection of insights into the iGaming regulatory landscape by region – the complete breakdown is available for free in the full report.

Europe

  • The UK rolled out stake limits for slots, deposit prompts, bonus restrictions, and a new statutory levy. Tighter oversight of suppliers and affordability checks are also underway.
  • The Netherlands proposed universal spending limits, stricter ad rules, and gave regulators powers to block unlicensed operators.
  • Germany approved a state monopoly model for online table games in Baden-Württemberg, applying a progressive tax.
  • Curacao now shifts toward an EU-aligned, reputation-focused framework, operating under a revamped regime with on-site inspections, ad code updates, and mandatory compliance standards.
  • Malta faces EU infringement proceedings over a legal shield that protects Malta-licensed online operators from foreign claims, which could be overturned.

Asia-Pacific

  • The Philippines exited the offshore gaming model with a POGO ban and introduced domestic reforms, including a GGR tax cut and the launch of a verified list of licensed online operators
  • India awaits a Supreme Court ruling on €11.5B in back taxes and is cracking down on illegal gambling ads.

Middle East

  • UAE signals future digital expansion with iGaming-related hiring, although online licences are not yet issued.

Africa

  • Nigeria restructured gambling taxes and banned Google gambling ads, shifting regulation to states.
  • South Africa introduced a Remote Gambling Bill to establish a regulated online gambling framework, which is now pending approval.

South America

  • Brazil is raising its gross gaming revenue (GGR) tax to 18%, expanding betting regulations, tightening oversight of advertising and payment systems, and introducing new restrictions on influencer marketing, including a ban on the use of celebrities and athletes in gambling promotions.
  • Peru reduced its iGaming tax temporarily and expanded IP-blocking measures.

North America

  • The USA (New York) moved to ban sweepstakes casinos and passed legislation targeting social gambling models.

SOFTSWISS continues to monitor the global regulatory environment to guide its partners through compliance shifts and regional opportunities. 

 

About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 30,000 casino games, the Affilka Affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team counts over 2,000 employees.

The post iGaming Trends 2025: First Half-Year Regulations Recap appeared first on European Gaming Industry News.

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Esports World Cup 2025 Unveils Official Song of the Year and Full Opening Ceremony Line-up

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Til My Fingers Bleed” featuring DINO of SEVENTEEN, Duckwrth, and Telle Smith to debut live alongside Post Malone, Alesso, and Tina Guo at the Opening Ceremony in Riyadh on 10 July

The Esports World Cup Foundation (EWCF) today announced the release of “Til My Fingers Bleed”, the official Song of the Year for Esports World Cup 2025, alongside the full artist line-up for the tournament’s Opening Ceremony. Taking place on 10 July in Riyadh, the ceremony will feature live performances from DINO of SEVENTEEN, Duckwrth, and Telle Smith of The Word Alive, as well as GRAMMY-nominated producer and electronic music sensation Alesso, virtuoso cellist Tina Guo, and global music icon Post Malone, who headlines the event.

“Til My Fingers Bleed” is a high-energy, cross-genre collaboration that fuses K-pop, hip-hop, and rock, capturing the emotion, ambition, and global spirit of the world’s largest esports event. DINO, genre-blending rapper Duckwrth, and metalcore frontman Telle Smith each bring deep ties to gaming culture, from major esports performances to in-game collaborations.

Their live debut of the track will help open a seven-week tournament that is redefining the role of gaming in mainstream culture. The song was written and produced by Alex Karlsson and T.Ma, known for their work with BTS, G.E.M. and ATEEZ, along with Jared Lee (Duckwrth), who wrote the track’s rap verse.

“At its heart, the Esports World Cup is a global celebration of community – where gaming, creativity, and culture converge on the world’s biggest stage,” said Mike McCabe, Chief Operating Officer, Esports World Cup Foundation. “EWC Music, our official song, and the Opening Ceremony help define the identity of the tournament. They reflect the spirit of shared passion and the connective power of music and esports, setting the tone for an unforgettable summer and celebrating how music can elevate competition and deepen fans’ emotional connection to the sport.”

Of the exciting new track, Telle Smith of The Word Alive commented ‘Gaming has been a part of my life for as long as music has, so getting to bring a genre bending song to a global stage like this feels surreal. I’m honored to share the moment in Riyadh with Duckwrth and Dino, I think fans all over the world will love “Til My Fingers Bleed”’.

“From day one, the Esports World Cup has been created as a global stage for gaming culture across all genres.”, said Ariel Horn, Executive Producer, Esports World Cup Foundation. “Each artist on ‘Til My Fingers Bleed’ brings a unique sound that connects with players, whether they’re into sports, fighting, or action games. We’re excited to see how players and fans pick this track up around the world and hope they will embrace it.”

Viranda Tantula, Executive Creative Director, EWC Music, added: “Music is a universal language, and this is something it shares with gaming. What inspires us at this intersection of music and esports is the opportunity to shape new sounds for a truly global audience. We’ve always been drawn to creative experimentation, and with “Til My Fingers Bleed’, we wanted the collision of genres and international artists to reflect the same global mix of games and players that defines the Esports World Cup. The whole team has poured their hearts into this project, and we hope the community,  k-pop, hip-hop, and rock fans feel the energy in both the track and the show.”

Now available across all major streaming platforms, the song is accompanied by a cinematic visualiser on YouTube, and will be featured throughout EWC broadcasts, social content, and live performances throughout the seven-week event.

The release follows “Ascension (Alesso Remix)”, a reimagining of the Esports World Cup’s orchestral theme by Alesso, featuring acclaimed cellist Tina Guo. Both tracks are part of EWC Music, a long-term initiative launched in April 2025 to develop an original music identity for the tournament. The programme began with the recording of a four-track suite at Abbey Road Studios by award-winning composers 2WEI and Hollywood Scoring, and continues with global artist collaborations and live performances.

Through original scores, artist-led tracks, and live performances, EWC Music aims to elevate every moment of the Esports World Cup – from broadcast highlights to trophy lifts and stadium shows.

The Esports World Cup 2025 Opening Ceremony will be headlined by Post Malone. A nine-times diamond-certified artist and lifelong gamer, he has deep ties to the esports world – from streaming Warzone and PUBG to collaborating on in-game events, including his recent Apex Legends crossover. His exclusive performance at EWC 2025 will blend chart-topping sound with a tribute to gaming culture on the world’s biggest esports stage.

The official Song of the Year artists also bring strong music ties to gaming: Duckwrth’s “Start a Riot” featured on the Spider-Verse soundtrack, while The Word Alive’s “RISE” was the 2018 League of Legends Worlds anthem, now streamed over 300 million times.

The Esports World Cup 2025 will once again unite the global esports community in Riyadh, Saudi Arabia, bringing together over 2,000 elite players and 200 Clubs from more than 100 countries. Players will compete in 25 tournaments across 24 titles for a record-breaking $70+ million prize pool – the largest in esports history.

Tickets, including access to the Opening Ceremony, are now available at esportsworldcup.com.

To learn more about the Esports World Cup, visit esportsworldcup.com and follow the Esports World Cup Foundation on LinkedIn. Esports World Cup: Level Up, the five-part documentary directed by Emmy Award-winner R.J. Cutler, is now streaming exclusively on Prime Video.

The post Esports World Cup 2025 Unveils Official Song of the Year and Full Opening Ceremony Line-up appeared first on European Gaming Industry News.

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