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Key facts: Melco Q3 Revenue Falls 10%; Cyprus EBITDA Record; Macau Soft
Melco Resorts reported third-quarter 2026 revenue of $1.17 billion, down 10% from a year earlier. Operating income was $100.2 million and adjusted property EBITDA was $287.6 million. Cyprus casinos reached record adjusted EBITDA of $25.7 million, while management said Macau's October market weakened.
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What happened
Melco Resorts reported third-quarter 2026 revenue of $1.17 billion, down 10% from a year earlier. Operating income was $100.2 million and adjusted property EBITDA was $287.6 million. Cyprus casinos reached record adjusted EBITDA of $25.7 million, while management said Macau’s October market weakened.
Confirmed
Global impact / market context
Lower group revenue and operating income point to weaker returns from Melco’s casino business, while Cyprus provided a contrasting source of growth. In Macau, limiting player incentives may help protect profit per sale, but could also affect customer activity and revenue.
Analyst inference
The reported results show different conditions across Melco’s regions: Cyprus revenue rose on stronger mass-market play, while management described Macau as weaker across customer segments. That split makes regional performance and the cost of customer incentives important to the company’s earnings outlook.
Analyst inference
What to watch
- Whether Melco’s next results show Macau revenue stabilizing after management described October as weaker across customer segments. Analyst inference
- Whether limiting player reinvestment and launching a targeted-incentives club protects profit without weakening customer activity or revenue. Proposed
- Whether Cyprus sustains revenue growth and record adjusted property EBITDA after its stronger mass-market play in the third quarter. Analyst inference
Evidence
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