Melco Resorts & Entertainment's (NASDAQ:MLCO) Q2 2019 Earnings Conference Call July 24, 2019 8:30 AM ET
Company Participants
Richard Huang - Director, IR
Lawrence Ho - Chairman & CEO
Geoff Davis - EVP & CFO
David Sisk - Property President, City of Dreams, Macau
Kevin Benning - COO & SVP, Melco Resorts & Entertainment (Philippines) Corp.
Andrew Choy's - Property President, Altira Macau
Conference Call Participants
Joseph Greff - JP Morgan
Anil Daswani - Citigroup
Billy Ng - Bank of America Merrill Lynch
Harry Curtis - Instinet
Praveen Choudhary - Morgan Stanley
Edward Engel - Macquarie
Operator
Ladies and gentlemen, thank you for participating in the Second Quarter 2019 Earnings Conference Call of Melco Resorts & Entertainment's Limited. [Operator Instructions] And today's conference is being recorded. I would now like to turn the call over to Mr. Richard Huang, Director of Investor Relations of Melco Resorts & Entertainment Limited. Thank you.
Richard Huang
Thank you, operator. Thank you all for joining us today for our second quarter 2019 earnings call. On the call today are Lawrence Ho; Geoff Davis; and our Property Presidents in Macau and Manila. Before we get started, please note that today's discussion may contain forward-looking statements may under the Safe Harbor provision of Federal Securities Law. Our actual results could differ from anticipated results.
I'll now turn the call over to Lawrence.
Lawrence Ho
Thank you, Richard, and hello, everyone. During the second quarter, despite macroeconomic headwinds, Melco reported record property EBITDA of $442 million, which represents year-over-year growth of 24%. On Macau, integrated resorts have gone from strength to strength, with mass table gaming revenue growth having more than tripled from 3% to 9% in the first quarter to 29% in the second quarter. Also, despite market wide VIP softness, Melco still managed to deliver modest VIP revenue growth, which implies that the company took significant market share in both the math and
- Read more current MLCO analysis and news
- View all earnings call transcripts