Asian casino operator Melco Resorts & Entertainment (MRE) enjoyed double-digit gains in revenue and earnings in 2017, while net income nearly doubled year-on-year.
Figures released Thursday show MRE’s group-wide revenue hitting $1.332b in the three months ending December 31, 2017, while adjusted earnings gained 12% to $340m and net income surged 87.5% to $81.2m.
For the year as a whole, revenue rose nearly 18% to $5.3b, adjusted earnings gained 31% to $1.42b and net income very nearly doubled to $347m. MRE investors rejoiced as the company decided to share the wealth by boosting its quarterly dividends by 50%.
MRE CEO Lawrence Ho credited the gains to the Macau market having “rebounded strongly” last year following three years of decline, while MRE’s Philippine operations enjoyed “robust” growth across all gaming segments.