Melco parent posts strong 2025 rebound, eyes luxury expansion in 2026
Hong Kong-listed parent company of Melco Resorts, Melco International Development Limited, announced robust annual results for the year ended December 31, 2025, marking a turnaround from the prior year.
The group posted net revenues of HKD40.24 billion, up 11.2% from HKD36.17 billion in 2024, driven by improved casino and hospitality performance. Adjusted EBITDA rose to HKD10.62 billion, compared with HKD9.03 billion in 2024, while profit attributable to owners reached HKD1.06 billion, reversing a loss of HKD0.78 billion in 2024.
According to the statement, the board did not recommend a final dividend for the year.
Lawrence Ho, group chairman and CEO, described 2025 as a “pivotal year of robust recovery and strategic expansion.”
“Through disciplined cost management, margin expansion and an unwavering commitment to operational excellence, we have strengthened our financial foundations while sustaining positive momentum across our global portfolio,” he said.
In Macau, the return of House of Dancing Water at City of Dreams in May reinforced its status as a world-class entertainment icon, earning the Macau government’s 2025 Medal of Merit – Tourism.
Meanwhile, property upgrades included enhanced entrances at City of Dreams, new facilities at Studio City, and iRad Hospital, Macau’s first integrated resort hospital, alongside the city’s first rooftop skatepark.
“Together, these transformative upgrades reaffirm our dedication to expanding our industry-leading non-gaming offerings,” he noted.
Beyond Macau, Melco expanded its global footprint under a capital-light strategy.
City of Dreams Sri Lanka, South Asia’s first integrated resort, opened in the third quarter, while City of Dreams Manila and City of Dreams Mediterranean maintained operational stability amid competitive and regional headwinds through cost optimization and operational refinements.
Looking ahead, Melco plans the launch of its new luxury hotel, REM, at City of Dreams in the second half of 2026, alongside revitalization of retail and dining precincts.
“We remain focused on advancing our robust pipeline of transformative initiatives to strengthen our market leadership. A key highlight for 2026 is the launch of our new luxury hotel project REM at City of Dreams in the second half of the year, alongside the ongoing revitalization of the property’s retail and dining precincts,” he said.
