---
title: "Melco Macau Resorts Drive Q1 Growth Amid Varid International Performance"
description: "Melco Resorts posts 10.8% year-on-year revenue growth to $1.23 billion in Q1 2025, fueled by robust gaming and non-gaming performance across its properties."
author: "Lucas Dunn"
date: "2025-05-11T09:35:03+03:00"
url: "https://www.casino.com/news/world/melco-macau-resorts-drive-q1-growth-amid-varid-international-performance/"
source: "https://instantly-lasting-parrot.edgecompute.app/news/world/melco-macau-resorts-drive-q1-growth-amid-varid-international-performance/"
---

## Key Takeaways

-   Melco Resorts achieved 10.8% year-on-year revenue surge

-   Net income rose to $32.5 million from $15.2 million in Q1 2024

-   The operator’s Manila revenue dropped 13% to $101.6 million

[Melco Resorts & Entertainment Ltd.](https://www.casino.com/news/world/melco-resorts-pursues-casino-opportunities-and-partnerships-in-thailand/) announced robust Q1 2025 results, with operating revenues rising **10.8% year-on-year to $1.23 billion**. The boost was driven by strengthened gaming and non-gaming assets across its global portfolio. Net income more than doubled to $32.5 million, up from $15.2 million in Q1 2024, while adjusted EBITDA grew 14.1% to $341 million.

The company’s Macau operations led the charge, delivering $1.02 billion in gaming revenue— **a 12.2% annual increase**. Melco, operating in Macau, the Philippines, Cyprus, and [Sri Lanka](https://www.casino.com/news/world/cinnamon-life-at-city-of-dreams-sri-lanka-begins-commercial-operations/), continues to demonstrate post-pandemic recovery momentum in key Asian markets.

## Impressive Macau Momentum

Melco Resorts’ Macau operations drove Q1 2025 success, with property EBITDA surging 32% quarter-on-quarter. Chairman and CEO Lawrence Ho highlighted sustained mass market strength, noting, “ _Mass drop increased each month during the quarter, and we recorded our highest daily mass drop ever_.”

At City of Dreams Macau, operating revenues jumped **19.5% year-on-year** to $658.1 million, fueled by $6.05 billion in rolling chip volume and a 3.74% win rate. Mass table games drop rose 7.4% to $1.59 billion, reinforcing sector resilience. Adjusted EBITDA for the property climbed 27.5% to $195.9 million compared to Q1 2024, while slot gross gaming revenue grew 3% annually.

## Studio City Gains, Altira Declines

Studio City posted a **6% year-on-year revenue increase** to $336 million in Q1 2025. It was powered by an 11% surge in mass gaming GGR to $303 million and a 23% jump in slot revenue to $33 million. The property’s adjusted EBITDA rose 11% to $97 million, signaling sustained recovery.

Altira Macau, however, did not reflect similar beaming results. The resort saw operating revenues plummet **24% to $28 million** with a negative adjusted EDIBTA of $0.7 million. The downturn stemmed from weaker mass table performance as game volume fell 22.6% to $108.8 million from $140.7 million in Q1 2024.

## Regional Performance Contrast

Melco’s global portfolio showed uneven results beyond Macau. City of Dreams Manila saw operating revenues fall **13% year-on-year** to $101.6 million. Adjusted EBITDA was down 21% to 30.1 million amid heightened competition and a 17% mass table revenue decline.

This contrasted with Cyprus operations, where gross gaming revenue rose **10% to $58.5 million** and non-gaming revenue surged 59% to $18.8 million. Mass market table drop rose 34% to $145 million, driving a 10% EBITDA increase to $12 million, balancing Asian market pressures.