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MACAU, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Studio City International Holdings Limited (NYSE: MSC) (“Studio City” or the “Company”), a world-class integrated resort located in Cotai, Macau, today reported its unaudited financial results for the fourth quarter and full year ended December 31, 2024.
Total operating revenues for the fourth quarter of 2024 were US$152.9 million, compared with total operating revenues of US$141.3 million in the fourth quarter of 2023. The increase was primarily attributable to the continued recovery in inbound tourism in Macau during the fourth quarter of 2024, which led to an increase in revenue from casino contract and higher non-gaming revenues.
Studio City Casino generated gross gaming revenues of US$321.8 million and US$294.8 million for the fourth quarters of 2024 and 2023, respectively.
Studio City Casino has strategically repositioned itself to focus on the premium mass and mass segments, and VIP rolling chip operations at Studio City Casino were transferred to City of Dreams in late October 2024. Studio City Casino’s rolling chip volume was US$165.0 million in the fourth quarter of 2024 versus US$566.0 million in the fourth quarter of 2023. The rolling chip win rate was 3.48% in the fourth quarter of 2024 versus 1.86% in the fourth quarter of 2023. The expected rolling chip win rate range is 2.85%-3.15%.
Mass market table games drop increased to US$891.7 million in the fourth quarter of 2024, compared with US$864.1 million in the fourth quarter of 2023. The mass market table games hold percentage was 32.1% in the fourth quarter of 2024, compared with 30.0% in the fourth quarter of 2023.
Gaming machine handle for the fourth quarter of 2024 was US$888.9 million, compared with US$778.3 million in the fourth quarter of 2023. The gaming machine win rate was 3.3% in the fourth quarter of 2024, compared with 3.2% in the fourth quarter of 2023.
Revenue from casino contract was US$63.6 million for the fourth quarter of 2024, compared with US$57.0 million for the fourth quarter of 2023. Revenue from casino contract is net of gaming taxes and the costs incurred in connection with the on-going operation of the Studio City Casino which are deducted by Melco Resorts (Macau) Limited, the gaming operator of the Studio City Casino (the “Gaming Operator”).
Total gaming taxes and the costs incurred in connection with the on-going operation of the Studio City Casino deducted from gross gaming revenues were US$258.2 million and US$237.8 million in the fourth quarters of 2024 and 2023, respectively.
Total non-gaming revenues at Studio City for the fourth quarter of 2024 were US$89.3 million, compared with US$84.3 million for the fourth quarter of 2023.
Operating income for the fourth quarter of 2024 was US$3.1 million, compared with US$13.3 million in the fourth quarter of 2023.
Studio City generated Adjusted EBITDA(1) of US$56.7 million in the fourth quarter of 2024, compared with US$64.8 million in the fourth quarter of 2023. The change was mainly attributable to higher operating costs, despite the increase in revenue from casino contract and higher non-gaming revenues.
Net loss attributable to Studio City International Holdings Limited for the fourth quarter of 2024 was US$27.7 million, compared with US$18.6 million in the fourth quarter of 2023. The net loss attributable to participation interest was US$2.6 million and US$1.8 million in the fourth quarters of 2024 and 2023, respectively.
Other Factors Affecting Earnings
Total net non-operating expenses for the fourth quarter of 2024 were US$33.3 million, which mainly included interest expense of US$32.4 million.
Depreciation and amortization costs of US$52.8 million were recorded in the fourth quarter of 2024, of which US$0.8 million was related to the amortization expense for the land use right.
The Adjusted EBITDA for Studio City for the three months ended December 31, 2024 referred to in the earnings release of Melco Resorts & Entertainment Limited (“Melco”) dated February 27, 2025 (“Melco’s Earnings Release”) was US$24.5 million more than the Adjusted EBITDA of Studio City contained in this press release. The Adjusted EBITDA of Studio City contained in this press release includes certain intercompany charges that are not included in the Adjusted EBITDA for Studio City contained in Melco’s Earnings Release. Such intercompany charges include, among other items, fees and shared service charges billed between the Company and its subsidiaries and certain subsidiaries of Melco. Additionally, Adjusted EBITDA of Studio City included in Melco’s Earnings Release does not reflect certain gaming concession related costs and certain intercompany costs related to the table games operations at Studio City Casino.
Financial Position and Capital Expenditures
Total cash and bank balances as of December 31, 2024 aggregated to US$127.8 million (December 31, 2023: US$228.2 million), including US$0.1 million of restricted cash (December 31, 2023: US$0.1 million). Total debt, net of unamortized deferred financing costs and original issue premiums, at the end of the fourth quarter of 2024 was US$2.16 billion (December 31, 2023: US$2.34 billion), a reduction of approximately US$12 million, compared to the total debt, net balance as of September 30, 2024. The reduction in total debt, net was primarily as a result of the repurchases of the Studio City Finance Limited 6.00% senior notes due 2025 during the fourth quarter of 2024.
On November 29, 2024, Studio City Company Limited entered into a senior secured revolving credit facilities agreement in aggregate amount of HK$1,945,000,000 (equivalent to US$250 million) for a term of five years (the “2029 Studio City Senior Secured Credit Facility”). At the same time, the terms of an existing senior secured credit facilities in an amount of HK$234 million (equivalent to US$30 million) were amended to be in line with the 2029 Studio City Senior Secured Credit Facility with the maturity date being extended to August 29, 2029. HK$1.0 million (equivalent to US$0.1 million) was drawn under these credit facilities as of December 31, 2024.
Capital expenditures for the fourth quarter of 2024 were US$25.6 million.
Full Year Results
For the year ended December 31, 2024, Studio City International Holdings Limited reported total operating revenues of US$639.1 million, compared with US$445.5 million in the prior year. The increase in total operating revenues was primarily attributable to the continued recovery in inbound tourism in Macau in 2024, and the ramp up of operations following the opening of Studio City Phase 2 starting in April 2023, which led to an increase in revenue from casino contract and higher non-gaming revenues.
Operating income for 2024 was US$38.1 million, compared with operating loss of US$29.0 million for 2023.
Studio City generated Adjusted EBITDA of US$245.3 million for the year ended December 31, 2024, compared with US$159.2 million for 2023. The change in Adjusted EBITDA was mainly attributable to higher revenue from casino contract and non-gaming revenues, partially offset by higher operating costs.
Net loss attributable to Studio City International Holdings Limited for 2024 was US$96.7 million, compared with US$133.5 million for 2023. The net loss attributable to participation interest for 2024 was US$9.1 million, compared with US$12.6 million for 2023.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Studio City International Holdings Limited (the “Company”) may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to, (i) changes in the gaming market and visitations in Macau, (ii) local and global economic conditions, (iii) capital and credit market volatility, (iv) our anticipated growth strategies, (v) risks associated with the implementation of the amended Macau gaming law by the Macau government, (vi) gaming authority and other governmental approvals and regulations, and (vii) our future business development, results of operations and financial condition. In some cases, forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “anticipate”, “target”, “aim”, “estimate”, “intend”, “plan”, “believe”, “potential”, “continue”, “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company undertakes no duty to update such information, except as required under applicable law.
Non-GAAP Financial Measures
| (1) |
| "Adjusted EBITDA" is defined as net income/loss before interest, taxes, depreciation, amortization, pre-opening costs, property charges and other and other non-operating income and expenses. Adjusted EBITDA is presented exclusively as supplemental disclosures because management believes it is widely used to measure the performance, and as a basis for valuation, of gaming companies. Management uses Adjusted EBITDA to measure our operating performance and to compare our operating performance with those of our competitors. |
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| (2) |
| “Adjusted net income/loss” is net income/loss before pre-opening costs, property charges and other and gain/loss on extinguishment of debt, net of participation interest and taxes. Adjusted net income/loss is presented as supplemental disclosure because management believes it provides useful information to investors and others in understanding and evaluating our performance, in addition to income/loss computed in accordance with U.S. GAAP. Adjusted net income/loss may be different from the calculation methods used by other companies and, therefore, comparability may be limited. Reconciliations of adjusted net income/loss attributable to Studio City International Holdings Limited with the most comparable financial measures calculated and presented in accordance with U.S. GAAP are provided herein immediately following the financial statements included in this press release. |
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About Studio City International Holdings Limited
The Company, with its American depositary shares listed on the New York Stock Exchange (NYSE: MSC), is a world-class integrated resort located in Cotai, Macau. For more information about the Company, please visit www.studiocity-macau.com.
The Company is majority owned by Melco Resorts & Entertainment Limited, a company with its American depositary shares listed on the Nasdaq Global Select Market (Nasdaq: MLCO).
For the investment community, please contact:
Jeanny Kim
Senior Vice President, Group Treasurer
Tel: +852 2598 3698
Email: jeannykim@melco-resorts.com
For media enquiries, please contact:
Chimmy Leung
Executive Director, Corporate Communications
Tel: +852 3151 3765
Email: chimmyleung@melco-resorts.com
| Studio City International Holdings Limited and Subsidiaries |
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| Condensed Consolidated Statements of Operations (Unaudited) |
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| (In thousands, except share and per share data) |
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| Three Months Ended |
| Year Ended |
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| December 31, |
| December 31, |
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| 2024 |
| 2023 |
| 2024 |
| 2023 |
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| Operating revenues: |
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| Revenue from casino contract | $ | 63,563 |
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| $ | 56,981 |
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| $ | 259,842 |
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| $ | 155,527 |
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| Rooms |
| 42,921 |
|
|
| 39,642 |
|
|
| 160,721 |
|
|
| 111,733 |
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| Food and beverage |
| 22,176 |
|
|
| 19,815 |
|
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| 89,660 |
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| 62,426 |
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| Entertainment |
| 4,311 |
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| 2,992 |
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| 47,533 |
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| 61,777 |
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| Services fee |
| 14,371 |
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| 17,904 |
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| 59,529 |
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| 40,473 |
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| Mall |
| 4,522 |
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|
| 3,161 |
|
|
| 18,289 |
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| 10,744 |
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| Retail and other |
| 999 |
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|
| 756 |
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|
| 3,571 |
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|
| 2,858 |
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| Total operating revenues |
| 152,863 |
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| 141,251 |
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| 639,145 |
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| 445,538 |
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| Operating costs and expenses: |
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| Costs related to casino contract |
| (8,781 | ) |
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| (7,582 | ) |
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| (34,704 | ) |
|
| (28,847 | ) |
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| Rooms |
| (14,130 | ) |
|
| (10,360 | ) |
|
| (51,614 | ) |
|
| (28,280 | ) |
|
| Food and beverage |
| (20,844 | ) |
|
| (17,652 | ) |
|
| (80,081 | ) |
|
| (54,741 | ) |
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| Entertainment |
| (7,179 | ) |
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| (3,704 | ) |
|
| (46,500 | ) |
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| (53,056 | ) |
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| Mall |
| (1,980 | ) |
|
| (1,442 | ) |
|
| (7,336 | ) |
|
| (4,212 | ) |
|
| Retail and other |
| (592 | ) |
|
| (443 | ) |
|
| (2,306 | ) |
|
| (1,986 | ) |
|
| General and administrative |
| (42,618 | ) |
|
| (35,299 | ) |
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| (171,271 | ) |
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| (115,203 | ) |
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| Pre-opening costs |
| 22 |
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|
| 169 |
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|
| (807 | ) |
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| (17,451 | ) |
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| Amortization of land use right |
| (832 | ) |
|
| (828 | ) |
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| (3,314 | ) |
|
| (3,302 | ) |
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| Depreciation and amortization |
| (51,934 | ) |
|
| (49,906 | ) |
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| (201,746 | ) |
|
| (166,095 | ) |
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| Property charges and other |
| (875 | ) |
|
| (867 | ) |
|
| (1,318 | ) |
|
| (1,407 | ) |
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| Total operating costs and expenses |
| (149,743 | ) |
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| (127,914 | ) |
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| (600,997 | ) |
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| (474,580 | ) |
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| Operating income (loss) |
| 3,120 |
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| 13,337 |
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| 38,148 |
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| (29,042 | ) |
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| Non-operating income (expenses): |
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| Interest income |
| 619 |
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| 2,502 |
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| 4,059 |
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| 10,675 |
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| Interest expense, net of amounts capitalized |
| (32,372 | ) |
|
| (35,761 | ) |
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| (133,594 | ) |
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| (129,567 | ) |
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| Other financing costs |
| (279 | ) |
|
| (106 | ) |
|
| (592 | ) |
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| (417 | ) |
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| Foreign exchange (losses) gains, net |
| (1,232 | ) |
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| (1,879 | ) |
|
| (5,500 | ) |
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| 642 |
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| Other expenses, net |
| - |
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|
| (6 | ) |
|
| - |
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| (67 | ) |
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| (Loss) gain on extinguishment of debt |
| (17 | ) |
|
| 1,531 |
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| (1,000 | ) |
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| 1,611 |
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| Total non-operating expenses, net |
| (33,281 | ) |
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| (33,719 | ) |
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| (136,627 | ) |
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| (117,123 | ) |
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| Loss before income tax |
| (30,161 | ) |
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| (20,382 | ) |
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| (98,479 | ) |
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| (146,165 | ) |
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| Income tax (expense) benefit |
| (199 | ) |
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| 4 |
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| (7,352 | ) |
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| 81 |
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| Net loss |
| (30,360 | ) |
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| (20,378 | ) |
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| (105,831 | ) |
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| (146,084 | ) |
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| Net loss attributable to participation interest |
| 2,612 |
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| 1,754 |
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| 9,105 |
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| 12,567 |
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| Net loss attributable to Studio City International Holdings Limited | $ | (27,748 | ) |
| $ | (18,624 | ) |
| $ | (96,726 | ) |
| $ | (133,517 | ) |
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| Net loss attributable to Studio City International Holdings Limited per Class A |
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| Basic and diluted | $ | (0.036 | ) |
| $ | (0.024 | ) |
| $ | (0.126 | ) |
| $ | (0.173 | ) |
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| Net loss attributable to Studio City International Holdings Limited per ADS: |
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| Basic and diluted | $ | (0.144 | ) |
| $ | (0.097 | ) |
| $ | (0.502 | ) |
| $ | (0.693 | ) |
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| Weighted average Class A ordinary shares outstanding used in net loss attributable to Studio City International Holdings Limited per Class A ordinary share calculation: |
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| Basic and diluted |
| 770,352,700 |
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| 770,352,700 |
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| 770,352,700 |
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| 770,352,700 |
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| Studio City International Holdings Limited and Subsidiaries |
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| Condensed Consolidated Balance Sheets |
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| December 31, |
| December 31, |
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| 2024 |
| 2023 |
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| (Unaudited) |
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| ASSETS |
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| Current assets: |
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| Cash and cash equivalents | $ | 127,634 |
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| $ | 228,040 |
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| Accounts receivable, net |
| 1,976 |
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| 2,281 |
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| Receivables from affiliated companies |
| 309 |
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| 40,969 |
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| Inventories |
| 7,306 |
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| 5,763 |
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| Prepaid expenses and other current assets |
| 29,140 |
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| 38,997 |
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| Total current assets |
| 166,365 |
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| 316,050 |
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| Property and equipment, net |
| 2,652,169 |
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| 2,775,806 |
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| Intangible assets, net |
| - |
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| 5 |
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| Long-term prepayments, deposits and other assets |
| 52,504 |
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| 27,787 |
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| Restricted cash |
| 130 |
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| 130 |
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| Operating lease right-of-use assets |
| 11,647 |
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| 11,619 |
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| Land use right, net |
| 102,629 |
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| 105,304 |
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| Total assets | $ | 2,985,444 |
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| $ | 3,236,701 |
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| LIABILITIES, SHAREHOLDERS’ EQUITY AND PARTICIPATION INTEREST |
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| Current liabilities: |
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| Accounts payable | $ | 3,285 |
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| $ | 2,454 |
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| Accrued expenses and other current liabilities |
| 118,117 |
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| 135,514 |
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| Income tax payable |
| 7,626 |
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| 10 |
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| Current portion of long-term debt, net |
| 21,597 |
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| - |
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| Payables to affiliated companies |
| 30,131 |
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| 18,799 |
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| Total current liabilities |
| 180,756 |
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| 156,777 |
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| Long-term debt, net |
| 2,141,750 |
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| 2,335,173 |
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| Other long-term liabilities |
| 4,115 |
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| 3,209 |
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| Deferred tax liabilities, net |
| 77 |
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| 309 |
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| Operating lease liabilities, non-current |
| 12,227 |
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| 12,250 |
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| Total liabilities |
| 2,338,925 |
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|
| 2,507,718 |
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| Shareholders’ equity and participation interest: |
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| Class A ordinary shares, par value $0.0001; 1,927,488,240 shares authorized; 770,352,700 shares issued and outstanding |
| 77 |
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| 77 |
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| Class B ordinary shares, par value $0.0001; 72,511,760 shares authorized; 72,511,760 shares issued and outstanding |
| 7 |
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| 7 |
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| Additional paid-in capital |
| 2,477,359 |
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| 2,477,359 |
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| Accumulated other comprehensive income (losses) |
| 8,701 |
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|
| (12,656 | ) |
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| Accumulated losses |
| (1,895,409 | ) |
|
| (1,798,683 | ) |
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| Total shareholders’ equity |
| 590,735 |
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|
| 666,104 |
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| Participation interest |
| 55,784 |
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| 62,879 |
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| Total shareholders’ equity and participation interest |
| 646,519 |
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|
| 728,983 |
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| Total liabilities, shareholders’ equity and participation interest | $ | 2,985,444 |
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| $ | 3,236,701 |
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| Studio City International Holdings Limited and Subsidiaries |
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| Reconciliation of Net Loss Attributable to Studio City International Holdings Limited to |
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| Adjusted Net Loss Attributable to Studio City International Holdings Limited (Unaudited) |
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| (In thousands, except share and per share data) |
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| Three Months Ended |
| Year Ended |
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| December 31, |
| December 31, |
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| 2024 |
| 2023 |
| 2024 |
| 2023 |
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| Net loss attributable to Studio City International Holdings Limited | $ | (27,748 | ) |
| $ | (18,624 | ) |
| $ | (96,726 | ) |
| $ | (133,517 | ) |
|
| Pre-opening costs |
| (22 | ) |
|
| (169 | ) |
|
| 807 |
|
|
| 17,451 |
|
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| Property charges and other |
| 875 |
|
|
| 867 |
|
|
| 1,318 |
|
|
| 1,407 |
|
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| Loss (gain) on extinguishment of debt |
| 17 |
|
|
| (1,531 | ) |
|
| 1,000 |
|
|
| (1,611 | ) |
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| Income tax impact on adjustments |
| (3 | ) |
|
| - |
|
|
| (15 | ) |
|
| - |
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| Participation interest impact on adjustments |
| (75 | ) |
|
| 71 |
|
|
| (269 | ) |
|
| (1,484 | ) |
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| Adjusted net loss attributable to Studio City International Holdings Limited | $ | (26,956 | ) |
| $ | (19,386 | ) |
| $ | (93,885 | ) |
| $ | (117,754 | ) |
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| Adjusted net loss attributable to Studio City International Holdings Limited per Class A ordinary share: |
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| Basic and diluted | $ | (0.035 | ) |
| $ | (0.025 | ) |
| $ | (0.122 | ) |
| $ | (0.153 | ) |
|
|
|
|
|
|
|
|
|
|
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|
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| ||||
| Adjusted net loss attributable to Studio City International Holdings Limited per ADS: |
|
|
|
|
|
|
|
|
|
|
|
| ||||
| Basic and diluted | $ | (0.140 | ) |
| $ | (0.101 | ) |
| $ | (0.487 | ) |
| $ | (0.611 | ) |
|
|
|
|
|
|
|
|
|
|
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|
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|
| ||||
| Weighted average Class A ordinary shares outstanding used in adjusted net loss attributable to Studio City International Holdings Limited per Class A ordinary share calculation: |
|
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|
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|
|
|
|
|
|
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| ||||
| Basic and diluted |
| 770,352,700 |
|
|
| 770,352,700 |
|
|
| 770,352,700 |
|
|
| 770,352,700 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
| Studio City International Holdings Limited and Subsidiaries | ||||||||||||||
| Reconciliation of Operating Income (Loss) to Adjusted EBITDA (Unaudited) | ||||||||||||||
| (In thousands) | ||||||||||||||
|
|
|
|
|
|
|
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|
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| |||
|
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|
|
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|
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|
|
|
| |||
|
| Three Months Ended |
| Year Ended | |||||||||||
|
| December 31, |
| December 31, | |||||||||||
|
| 2024 |
| 2023 |
| 2024 |
| 2023 | |||||||
|
|
|
|
|
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|
|
| |||||||
| Operating income (loss) | $ | 3,120 |
|
| $ | 13,337 |
|
| $ | 38,148 |
| $ | (29,042 | ) |
| Pre-opening costs |
| (22 | ) |
|
| (169 | ) |
|
| 807 |
|
| 17,451 |
|
| Depreciation and amortization |
| 52,766 |
|
|
| 50,734 |
|
|
| 205,060 |
|
| 169,397 |
|
| Property charges and other |
| 875 |
|
|
| 867 |
|
|
| 1,318 |
|
| 1,407 |
|
| Adjusted EBITDA | $ | 56,739 |
|
| $ | 64,769 |
|
| $ | 245,333 |
| $ | 159,213 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |||
| Studio City International Holdings Limited and Subsidiaries |
| |||||||||||||||
| Reconciliation of Net Loss Attributable to Studio City International Holdings Limited |
| |||||||||||||||
| to Adjusted EBITDA (Unaudited) |
| |||||||||||||||
| (In thousands) |
| |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
|
| Three Months Ended |
| Year Ended |
| ||||||||||||
|
| December 31, |
| December 31, |
| ||||||||||||
|
| 2024 |
| 2023 |
| 2024 |
| 2023 |
| ||||||||
|
|
|
|
|
|
|
|
|
| ||||||||
| Net loss attributable to Studio City International Holdings Limited | $ | (27,748 | ) |
| $ | (18,624 | ) |
| $ | (96,726 | ) |
| $ | (133,517 | ) |
|
| Net loss attributable to participation interest |
| (2,612 | ) |
|
| (1,754 | ) |
|
| (9,105 | ) |
|
| (12,567 | ) |
|
| Net loss |
| (30,360 | ) |
|
| (20,378 | ) |
|
| (105,831 | ) |
|
| (146,084 | ) |
|
| Income tax expense (benefit) |
| 199 |
|
|
| (4 | ) |
|
| 7,352 |
|
|
| (81 | ) |
|
| Interest and other non-operating expenses, net |
| 33,281 |
|
|
| 33,719 |
|
|
| 136,627 |
|
|
| 117,123 |
|
|
| Depreciation and amortization |
| 52,766 |
|
|
| 50,734 |
|
|
| 205,060 |
|
|
| 169,397 |
|
|
| Property charges and other |
| 875 |
|
|
| 867 |
|
|
| 1,318 |
|
|
| 1,407 |
|
|
| Pre-opening costs |
| (22 | ) |
|
| (169 | ) |
|
| 807 |
|
|
| 17,451 |
|
|
| Adjusted EBITDA | $ | 56,739 |
|
| $ | 64,769 |
|
| $ | 245,333 |
|
| $ | 159,213 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| ||||
| Studio City International Holdings Limited and Subsidiaries | |||||||||||||||||
| Supplemental Data Schedule | |||||||||||||||||
|
|
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|
|
|
|
| ||||||||
|
|
|
| Three Months Ended |
| Year Ended | ||||||||||||
|
|
|
| December 31, |
| December 31, | ||||||||||||
|
|
|
| 2024 |
| 2023 |
| 2024 |
| 2023 | ||||||||
| Room Statistics: |
|
|
|
|
|
|
| ||||||||||
|
|
| Average daily rate (3) | $ | 175 |
|
| $ | 163 |
|
| $ | 165 |
|
| $ | 153 |
|
|
|
| Occupancy per available room |
| 97 | % |
|
| 94 | % |
|
| 96 | % |
|
| 90 | % |
|
|
| Revenue per available room (4) | $ | 169 |
|
| $ | 154 |
|
| $ | 159 |
|
| $ | 137 |
|
|
|
|
|
|
|
|
|
|
|
| ||||||||
| Other Information: |
|
|
|
|
|
|
| ||||||||||
|
|
| Average number of table games |
| 253 |
|
|
| 246 |
|
|
| 251 |
|
|
| 246 |
|
|
|
| Average number of gaming machines |
| 797 |
|
|
| 643 |
|
|
| 709 |
|
|
| 661 |
|
|
|
| Table games win per unit per day (5) | $ | 12,563 |
|
| $ | 11,936 |
|
| $ | 13,091 |
|
| $ | 9,239 |
|
|
|
| Gaming machines win per unit per day (6) | $ | 401 |
|
| $ | 418 |
|
| $ | 431 |
|
| $ | 343 |
|
|
|
|
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|
|
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|
|
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| ||||||||
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|
|
| ||||||||
| (3) | Average daily rate is calculated by dividing total room revenues including complimentary rooms (less service charges, if any) by total occupied rooms including complimentary rooms | ||||||||||||||||
| (4) | Revenue per available room is calculated by dividing total room revenues including complimentary rooms (less service charges, if any) by total rooms available | ||||||||||||||||
| (5) | Table games win per unit per day is shown before discounts, commissions, non-discretionary incentives (including the point-loyalty programs) as administered by the Gaming Operator and allocating casino revenues related to goods and services provided to gaming patrons on a complimentary basis | ||||||||||||||||
| (6) | Gaming machines win per unit per day is shown before non-discretionary incentives (including the point-loyalty programs) as administered by the Gaming Operator and allocating casino revenues related to goods and services provided to gaming patrons on a complimentary basis | ||||||||||||||||
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