Melco Resorts Reports Near-Breakeven Third-Quarter Net Income

Melco Resorts & Entertainment Ltd has reported net income of just US$34,000 for the third quarter, a sharp decline that reflects softened operating conditions across its two principal markets, Macau and Manila. The result stands in contrast to the stronger earnings recorded in the same period a year earlier, when the company benefited from more favorable gaming volumes. Total operating revenues for the quarter reached US$1.17 billion, representing a decrease of approximately 10 percent from the US$1.31 billion reported in the prior-year period.