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Melco Announces Unaudited Second Quarter 2023 Earnings
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.

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Genting Casino Launches the £20k Spin Leaderboard Challenge with VIP finale at Resorts World Birmingham
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Premium online casino brand Genting Casino has announced the launch of its headline £20k Spin Leaderboard Challenge, an exciting promotion offering players the chance to spin for £20,000 grand prize in a roulette showdown at Resorts World Birmingham in December.
Live now until 17 November 2025, this exclusive multi-channel promotion gives eligible UK online casino customers the opportunity to get free spins on deposit, compete in a leaderboard by playing selected games, and secure a place in a live-filmed casino tournament, culminating in a single spin worth £20,000.
Players can opt in by making a deposit of £10 or more at Genting Casino using the bonus code WIN20K, which grants 150 free spins on Big Bass Splash, 10 leaderboard points and a shot at climbing the top 50.
The top five players on the leaderboard will be invited to Resorts World Birmingham for a VIP experience including an overnight stay on the 13th December, up to £150 travel reimbursement and entry into a high-stakes live roulette tournament. The overall tournament winner will claim the Grand Prize Spin which could be worth £20,000.
Those finishing between 6th and 50th place on the leaderboard will receive 100 free spins on Fishin’ Frenzy The Big Catch 2.
Mike Vella from Genting Casino said: “We’re thrilled to offer our unique £20k spin promotion to online customers again, culminating in our unique live finale. The campaign brings players from screen to casino floor in a spectacular fashion and is part of our commitment to capitalise on the exclusive journey we can offer our online customers thanks to our partners at Resorts World Birmingham.”
Leaderboard points are earned playing Online Slot Games and selected Live Tables. Double points are available on specific games on certain weeks with eligible titles including Genting Live Roulette from Manchester, Lucky Lady’s Charm Deluxe and Fishin Frenzy The Big Splash.
The final five players will participate in a filmed, bracket-style live roulette tournament at Resorts World Birmingham, with one last spin deciding who walks away with the life-changing top prize.
Winners will be contacted on 19 November 2025, and the live tournament date will be on 13 December 2025.
This is another example of Genting Casino offering customers a chance to play their favourite online games in order to climb the leaderboard to win prizes from cash following on from previous promotions which offered winners experiences including trips to see some of the world’s most prestigious sporting events.
Genting Casino offer a premium online experience with over 7,000 casino games ranging from the classic casino table games including live roulette, blackjack and a catalogue of online slots and instant win games from leading studios and providers, including favourites like Starburst, Fishin’ Frenzy and Book of Dead, all within a safe and secure gaming environment.
The post Genting Casino Launches the £20k Spin Leaderboard Challenge with VIP finale at Resorts World Birmingham appeared first on European Gaming Industry News.
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Shaping the Future of iLottery: 7777 gaming’s Izabel Hakim on Innovation and Engagement
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Izabel Hakim, Head Project Manager at 7777 gaming, joins us for an exclusive conversation ahead of HIPTHER’s European Gaming Congress – HIPTHER Warsaw Summit 2025.
A recognized professional with a strong background in Product Development and Business Management, Izabel has nearly a decade of leadership experience in the iGaming sector. At 7777 gaming, she plays a pivotal role in driving product innovation across the company’s two key verticals: lottery and online casino.
As a General Sponsor of EGC 2025, 7777 gaming will showcase its cutting-edge iLottery solutions and 200+ game portfolio, reflecting its mission to create games for every player, niche, and taste.
Izabel, as Head Project Manager at 7777 gaming, you’ve been shaping product development in both lottery and online casino. From your perspective, how is iLottery evolving today, and why is it becoming such a central pillar of iGaming?
iLottery has evolved far beyond its traditional image of paper tickets and live draws. What we’re seeing today is the transformation of lottery into a dynamic, digital-first experience, one that resonates with modern players who value interaction, instant results, and engagement.
At 7777 gaming, we see iLottery as a bridge between tradition and innovation. It retains the thrill of chance that people love, but now enhanced with engaging visuals, storytelling, and personalized digital features. This evolution makes iLottery not just another vertical, but a central pillar of iGaming’s future, one that connects generations of players through technology and creativity.
7777 gaming is known for its bold creativity – from cinematic storytelling and unique mechanics to the expansive 7777 Multiverse. How do these innovations translate specifically into your iLottery products?
Creativity is our universal language, it flows through everything we create. The 7777 Multiverse isn’t just a feature, it’s a philosophy that connects our entire portfolio. Within iLottery, that means moving beyond static experiences and turning every game into a journey.
We weave storytelling and visual immersion into lottery formats that feel alive, games where the player isn’t just waiting for numbers but engaging with dynamic worlds, symbols, and rewarding mechanics. Our goal is simple: To make every draw feel like part of a bigger, evolving adventure. You can already see that spirit in one of our newest fully customizable Raffle Lottery products.
Only five years after launching, 7777 gaming is certified in 14 regulated jurisdictions and continues to expand globally. How does compliance ensure your iLottery solutions fit the specific needs of each market?
Compliance is one of our strongest assets. We don’t view it as a limitation, we see it as the framework that allows sustainable innovation to thrive. Every product we build is designed with regulation in mind from day one, ensuring that creativity and compliance evolve hand in hand.
When working with lotteries, the regulatory landscape can be even more complex, as in many cases the country itself is the regulatory body. That’s where our experience truly shines. We’ve successfully customized our iLottery solutions for national operators such as the National Lottery in Moldova, Azerloterya, the National Ukrainian Lottery, and others, each with its own technical, legal, and local specifics.
This hands-on experience enables us to adapt quickly to diverse jurisdictions while maintaining the creative quality, reliability, and security that define 7777 gaming. Our compliance-first mindset ensures that wherever our partners operate, our products not only meet the highest standards but also deliver the same trusted, engaging experience to every player.
Lottery has traditionally been seen as more static compared to casino gaming. How are you and your team reimagining iLottery to make it more engaging for the next generation of players?
We’re reimagining iLottery as something vibrant, social, and interactive, but also as a bridge between traditional and digital play. Many players are still accustomed to the offline lottery experience, so our goal is to guide that transition online by offering products that feel familiar, yet reimagined with fresh, engaging, and interactive twists that keep them playing longer.
Our strategy is built on variety and adaptability. We offer everything from instant win games and keno, to bingo, raffle lotteries, and themed or localized content tailored to specific markets with over 70 games for our lottery vertical. This range ensures that every player, whether they’re just discovering iLottery or already part of the digital ecosystem, can find something that resonates with their habits and preferences.
It’s all about giving players agency, connection, and excitement. We want iLottery to feel not just like a game of chance, but an evolving experience that fits naturally into how people play, connect, and engage today.
Community engagement and mentorship are passions you’ve personally championed. How do these values influence the way 7777 gaming develops products and connects with players in the iLottery space?
I’ve always believed that great products come from great teams, and great teams are built on trust, mentorship, and shared curiosity. At 7777 gaming, we nurture that culture through open collaboration, cross-functional creativity, and constant learning. Every project is a collective effort, shaped by diverse ideas and perspectives.
This mindset directly influences how we build our iLottery products. When your team feels empowered and inspired, it reflects in the final result – games that are thoughtful, well-crafted, and full of personality. It’s that internal synergy that allows us to consistently innovate and deliver experiences that stand out in the market.
Looking ahead, what can we expect next from 7777 gaming in the iLottery vertical? Are there particular innovations, markets, or partnerships that excite you most as you expand further?
The next phase of our lottery journey is all about personalization and deeper player engagement. We’re using data-driven insights to understand what excites players most and to craft experiences that truly speak to their preferences, blending the best of both verticals we work with – lottery and casino into fresh, hybrid formats that feel modern and intuitive.
We’re also entering new regulated markets and strengthening strategic partnerships that reflect our vision of responsible, engaging, and borderless entertainment. The opportunities ahead are exciting and 7777 gaming will continue to set new standards for innovation and creativity in future.
Thank you, Izabel, for sharing your insights on how 7777 gaming is redefining iLottery with innovation, compliance, and a people-first approach. We look forward to hearing more from you on stage at the European Gaming Congress 2025!
Join us at the European Gaming Congress 2025 | 30–31 October | Warsaw
Meet 7777 gaming and discover how they’re shaping the future of iLottery and iGaming.
The post Shaping the Future of iLottery: 7777 gaming’s Izabel Hakim on Innovation and Engagement appeared first on European Gaming Industry News.
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BongoBongo Partnership Boosts GR8 Tech’s Expansion in Africa
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GR8 Tech has joined forces with East African iGaming brand BongoBongo. Active across Uganda, Zambia, Tanzania, and Kenya, BongoBongo is known for its bold growth strategy and sharp market focus. Now, that momentum continues with the launch of GR8 Tech’s ULTIM8 Sportsbook—a high-performance solution built for ultimate speed, scale, and competitive edge.
While the iFrame integration already powers live operations, BongoBongo is also one of the first brands to leverage GR8 Tech’s robust backend integration via API. This will enable BongoBongo to take full control of the front end, tailoring the player experience to its brand vision while relying on GR8 Tech’s infrastructure under the hood. It’s a heavyweight blend of freedom and firepower, built for operators ready to differentiate and dominate.
“As we continue to grow across Africa and expand our local teams, having a high-performance sportsbook that complements our casino-first strategy is key. GR8 Tech gives us exactly that: the freedom to shape our frontend on top of a powerful, scalable engine. With the ULTIM8 solution and API, we’re ready to raise the bar for our players,” said Randy Heyrowsky, CEO at BongoBongo.
GR8 Tech’s Proven Success in Africa
GR8 Tech has already demonstrated strong traction in Africa by delivering a custom light sportsbook frontend for a regional operator in 2024. Designed for real-world conditions typical for the region, such as slow networks, older devices, and limited bandwidth, the solution prioritized speed and performance. The results were striking: conversion from registration to first deposit rose by 12% and user retention more than doubled, from 10% to 25%.
It was a strategic localization. GR8 Tech’s ability to blend performance engineering with market-specific UX shows what’s possible when products are built to meet the moment. In Africa and beyond, this is how heavyweight platforms win.
“Every market has its own demands, and success comes from listening closely and building accordingly. With Africa, we’ve proven that smart technical decisions drive long-term value. Now, with BongoBongo, we’re doubling down on that principle. They have bold plans and deep market insight, and we’re excited to support their next phase with tech that’s fast, flexible, and built to scale with their vision,” said Yevhen Krazhan, CSO at GR8 Tech.
Connect with GR8 Tech at the upcoming SiGMA Central Europe to discover new developments and explore opportunities.
The post BongoBongo Partnership Boosts GR8 Tech’s Expansion in Africa appeared first on European Gaming Industry News.
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