Studio City International Holdings Limited Announces Unaudited Third Quarter 2024 Earnings
Studio City International Holdings reported its Q3 2024 financial results, showing total operating revenues of US$174.6 million, up from US$137.6 million in Q3 2023. The casino generated gross gaming revenues of US$335.5 million, compared to US$256.3 million in Q3 2023. The company achieved an Adjusted EBITDA of US$68.2 million, an improvement from US$56.3 million in Q3 2023. Despite revenue growth, the company recorded a net loss of US$21.0 million, reduced from US$28.4 million loss in Q3 2023. Total debt decreased by approximately US$60 million compared to Q2 2024.
Studio City International Holdings ha riportato i risultati finanziari del terzo trimestre del 2024, mostrando ricavi operativi totali di 174,6 milioni di dollari USA, in aumento rispetto ai 137,6 milioni di dollari USA del terzo trimestre del 2023. Il casinò ha generato ricavi lordi da gioco di 335,5 milioni di dollari USA, rispetto ai 256,3 milioni di dollari USA del terzo trimestre del 2023. L'azienda ha raggiunto un EBITDA rettificato di 68,2 milioni di dollari USA, migliorando rispetto ai 56,3 milioni di dollari USA del terzo trimestre del 2023. Nonostante la crescita dei ricavi, l'azienda ha registrato una perdita netta di 21,0 milioni di dollari USA, ridotta rispetto alla perdita di 28,4 milioni di dollari USA del terzo trimestre del 2023. Il debito totale è diminuito di circa 60 milioni di dollari USA rispetto al secondo trimestre del 2024.
Studio City International Holdings informó sus resultados financieros del tercer trimestre de 2024, mostrando ingresos operativos totales de 174,6 millones de dólares EE. UU., un aumento desde los 137,6 millones de dólares EE. UU. en el tercer trimestre de 2023. El casino generó ingresos brutos por juego de 335,5 millones de dólares EE. UU., en comparación con los 256,3 millones de dólares EE. UU. en el tercer trimestre de 2023. La compañía logró un EBITDA ajustado de 68,2 millones de dólares EE. UU., mejorando respecto a los 56,3 millones de dólares EE. UU. en el tercer trimestre de 2023. A pesar del crecimiento de los ingresos, la compañía registró una pérdida neta de 21,0 millones de dólares EE. UU., reducida desde una pérdida de 28,4 millones de dólares EE. UU. en el tercer trimestre de 2023. La deuda total disminuyó aproximadamente en 60 millones de dólares EE. UU. en comparación con el segundo trimestre de 2024.
스튜디오 시티 인터내셔널 홀딩스는 2024년 3분기 재무 결과를 발표하며 총 운영 수익이 1억 7460만 달러로 2023년 3분기의 1억 3760만 달러에서 증가했다고 보도했습니다. 카지노는 총 게임 수익이 3억 3550만 달러로 2023년 3분기의 2억 5630만 달러에 비해 증가했습니다. 회사는 조정된 EBITDA가 6820만 달러에 도달하였으며, 이는 2023년 3분기의 5630만 달러에서 개선된 것입니다. 매출 성장에도 불구하고, 회사는 순손실이 2100만 달러라고 기록하였으며, 이는 2023년 3분기 2840만 달러의 손실에서 줄어든 것입니다. 총 부채는 2024년 2분기 대비 약 6000만 달러 감소했습니다.
Studio City International Holdings a publié ses résultats financiers pour le troisième trimestre 2024, révélant des revenus opérationnels totaux de 174,6 millions de dollars US, en hausse par rapport à 137,6 millions de dollars US au troisième trimestre 2023. Le casino a généré des revenus bruts de jeu de 335,5 millions de dollars US, contre 256,3 millions de dollars US au troisième trimestre 2023. L'entreprise a atteint un EBITDA ajusté de 68,2 millions de dollars US, une amélioration par rapport à 56,3 millions de dollars US au troisième trimestre 2023. Malgré la croissance des revenus, l'entreprise a enregistré une perte nette de 21,0 millions de dollars US, réduite par rapport à une perte de 28,4 millions de dollars US au troisième trimestre 2023. La dette totale a diminué d'environ 60 millions de dollars US par rapport au deuxième trimestre 2024.
Studio City International Holdings hat seine Finanzzahlen für das dritte Quartal 2024 veröffentlicht und zeigt gesamt operative Einnahmen von 174,6 Millionen US-Dollar, ein Anstieg von 137,6 Millionen US-Dollar im dritten Quartal 2023. Das Casino erzielte brutto Spielereinnahmen von 335,5 Millionen US-Dollar, verglichen mit 256,3 Millionen US-Dollar im dritten Quartal 2023. Das Unternehmen erreichte ein bereinigtes EBITDA von 68,2 Millionen US-Dollar, eine Verbesserung im Vergleich zu 56,3 Millionen US-Dollar im dritten Quartal 2023. Trotz des Umsatzwachstums verzeichnete das Unternehmen einen Nettoverlust von 21,0 Millionen US-Dollar, reduziert von einem Verlust von 28,4 Millionen US-Dollar im dritten Quartal 2023. Die Gesamtschulden gingen im Vergleich zum zweiten Quartal 2024 um etwa 60 Millionen US-Dollar zurück.
- Operating revenues increased 27% YoY to US$174.6 million
- Gross gaming revenues grew 31% YoY to US$335.5 million
- Adjusted EBITDA improved 21% YoY to US$68.2 million
- Mass market table games drop increased to US$912.9 million from US$809.1 million
- Reduced total debt by US$60 million in Q3 2024
- Net loss of US$21.0 million in Q3 2024
- Total cash decreased to US$113.3 million from US$228.2 million in December 2023
- High interest expenses of US$32.8 million in Q3 2024
- Rolling chip volume declined to US$494.8 million from US$713.6 million YoY
Insights
Studio City's Q3 2024 results show significant operational improvements. Total operating revenues increased to
Notable financial metrics include Adjusted EBITDA of
The continued recovery in Macau's tourism sector is driving Studio City's performance improvements. The successful integration of Phase 2 operations, which opened in April 2023, has expanded revenue streams across both gaming and non-gaming segments. Non-gaming revenues reached
The mass market segment's robust performance, evidenced by increased table drop and higher hold percentages, aligns with Macau's strategic shift toward mass-market tourism. However, the decline in rolling chip volume from
MACAU, Nov. 05, 2024 (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 third quarter of 2024.
Total operating revenues for the third quarter of 2024 were US
Studio City Casino generated gross gaming revenues of US
Studio City Casino’s rolling chip volume was US
Mass market table games drop increased to US
Gaming machine handle for the third quarter of 2024 was US
Revenue from casino contract was US
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
Total non-gaming revenues at Studio City for the third quarter of 2024 were US
Operating income for the third quarter of 2024 was US
Studio City generated Adjusted EBITDA(1) of US
Net loss attributable to Studio City International Holdings Limited for the third quarter of 2024 was US
Other Factors Affecting Earnings
Total net non-operating expenses for the third quarter of 2024 were US
Depreciation and amortization costs of US
The Adjusted EBITDA for Studio City for the three months ended September 30, 2024 referred to in the earnings release of Melco Resorts & Entertainment Limited (“Melco”) dated November 5, 2024 (“Melco’s earnings release”) was US
Financial Position and Capital Expenditures
Total cash and bank balances as of September 30, 2024 aggregated to US
Capital expenditures for the third quarter of 2024 were US
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) the pace of recovery from the impact of COVID-19 on our business, our industry and the global economy, (ii) risks associated with the amended Macau gaming law and its implementation by the Macau government, (iii) changes in the gaming market and visitations in Macau, (iv) capital and credit market volatility, (v) local and global economic conditions, (vi) our anticipated growth strategies, (vii) gaming authority and other governmental approvals and regulations, and (viii) 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. The Company also presents Adjusted EBITDA because it is used by some investors as a way to measure a company’s ability to incur and service debt, make capital expenditures, and meet working capital requirements. Gaming companies have historically reported similar measures as supplements to financial measures in accordance with generally accepted accounting principles, in particular, U.S. GAAP or International Financial Reporting Standards. However, Adjusted EBITDA should not be considered as an alternative to operating income/loss as an indicator of the Company’s performance, as an alternative to cash flows from operating activities as a measure of liquidity, or as an alternative to any other measure determined in accordance with U.S. GAAP. Unlike net income/loss, Adjusted EBITDA does not include depreciation and amortization or interest expense and, therefore, do not reflect current or future capital expenditures or the cost of capital. The Company recognizes these limitations and uses Adjusted EBITDA as only one of several comparative tools, together with U.S. GAAP measurements, to assist in the evaluation of operating performance. Such U.S. GAAP measurements include operating income/loss, net income/loss, cash flows from operations and cash flow data. The Company has significant uses of cash flows, including capital expenditures, interest payments, debt principal repayments, taxes and other recurring and nonrecurring charges, which are not reflected in Adjusted EBITDA. Also, the Company’s calculation of Adjusted EBITDA may be different from the calculation methods used by other companies and, therefore, comparability may be limited. The use of Adjusted EBITDA has material limitations as an analytical tool, as Adjusted EBITDA does not include all items that impact our net income/loss. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measure to its most directly comparable GAAP financial measure. Reconciliations of Adjusted EBITDA 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. |
| (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. |
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 | |||||||||||||||
| Condensed Consolidated Statements of Operations (Unaudited) | |||||||||||||||
| (In thousands, except share and per share data) | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||
| September 30, | September 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Operating revenues: | |||||||||||||||
| Revenue from casino contract | $ | 67,312 | $ | 48,614 | $ | 196,279 | $ | 98,546 | |||||||
| Rooms | 41,602 | 32,819 | 117,800 | 72,091 | |||||||||||
| Food and beverage | 24,585 | 19,295 | 67,484 | 42,611 | |||||||||||
| Entertainment | 18,630 | 24,747 | 43,222 | 58,785 | |||||||||||
| Services fee | 16,395 | 8,307 | 45,158 | 22,569 | |||||||||||
| Mall | 5,055 | 2,945 | 13,767 | 7,583 | |||||||||||
| Retail and other | 1,051 | 859 | 2,572 | 2,102 | |||||||||||
| Total operating revenues | 174,630 | 137,586 | 486,282 | 304,287 | |||||||||||
| Operating costs and expenses: | |||||||||||||||
| Costs related to casino contract | (8,815 | ) | (7,297 | ) | (25,923 | ) | (21,265 | ) | |||||||
| Rooms | (13,506 | ) | (8,015 | ) | (37,484 | ) | (17,920 | ) | |||||||
| Food and beverage | (21,272 | ) | (16,319 | ) | (59,237 | ) | (37,089 | ) | |||||||
| Entertainment | (14,676 | ) | (17,870 | ) | (39,321 | ) | (49,352 | ) | |||||||
| Mall | (1,958 | ) | (1,282 | ) | (5,356 | ) | (2,770 | ) | |||||||
| Retail and other | (657 | ) | (589 | ) | (1,714 | ) | (1,543 | ) | |||||||
| General and administrative | (45,577 | ) | (29,943 | ) | (128,653 | ) | (79,904 | ) | |||||||
| Pre-opening costs | (23 | ) | (7,623 | ) | (829 | ) | (17,620 | ) | |||||||
| Amortization of land use right | (829 | ) | (826 | ) | (2,482 | ) | (2,474 | ) | |||||||
| Depreciation and amortization | (51,017 | ) | (44,557 | ) | (149,812 | ) | (116,189 | ) | |||||||
| Property charges and other | (323 | ) | (57 | ) | (443 | ) | (540 | ) | |||||||
| Total operating costs and expenses | (158,653 | ) | (134,378 | ) | (451,254 | ) | (346,666 | ) | |||||||
| Operating income (loss) | 15,977 | 3,208 | 35,028 | (42,379 | ) | ||||||||||
| Non-operating income (expenses): | |||||||||||||||
| Interest income | 524 | 2,821 | 3,440 | 8,173 | |||||||||||
| Interest expense, net of amounts capitalized | (32,785 | ) | (36,362 | ) | (101,222 | ) | (93,806 | ) | |||||||
| Other financing costs | (105 | ) | (105 | ) | (313 | ) | (311 | ) | |||||||
| Foreign exchange (losses) gains, net | (3,932 | ) | (692 | ) | (4,268 | ) | 2,521 | ||||||||
| Other expenses, net | - | - | - | (61 | ) | ||||||||||
| (Loss) gain on extinguishment of debt | (114 | ) | 80 | (983 | ) | 80 | |||||||||
| Total non-operating expenses, net | (36,412 | ) | (34,258 | ) | (103,346 | ) | (83,404 | ) | |||||||
| Loss before income tax | (20,435 | ) | (31,050 | ) | (68,318 | ) | (125,783 | ) | |||||||
| Income tax (expense) benefit | (2,507 | ) | 11 | (7,153 | ) | 77 | |||||||||
| Net loss | (22,942 | ) | (31,039 | ) | (75,471 | ) | (125,706 | ) | |||||||
| Net loss attributable to participation interest | 1,974 | 2,669 | 6,493 | 10,813 | |||||||||||
| Net loss attributable to Studio City International Holdings Limited | $ | (20,968 | ) | $ | (28,370 | ) | $ | (68,978 | ) | $ | (114,893 | ) | |||
| Net loss attributable to Studio City International Holdings Limited per Class A ordinary share: | |||||||||||||||
| Basic and diluted | $ | (0.027 | ) | $ | (0.037 | ) | $ | (0.090 | ) | $ | (0.149 | ) | |||
| Net loss attributable to Studio City International Holdings Limited per ADS: | |||||||||||||||
| Basic and diluted | $ | (0.109 | ) | $ | (0.147 | ) | $ | (0.358 | ) | $ | (0.597 | ) | |||
| Weighted average Class A ordinary shares outstanding used in net loss attributable to Studio City International Holdings Limited per Class A ordinary share calculation: | |||||||||||||||
| Basic and diluted | 770,352,700 | 770,352,700 | 770,352,700 | 770,352,700 | |||||||||||
| Studio City International Holdings Limited and Subsidiaries | |||||||
| Condensed Consolidated Balance Sheets | |||||||
| (In thousands, except share and per share data) | |||||||
| September 30, | December 31, | ||||||
| 2024 | 2023 | ||||||
| (Unaudited) | |||||||
| ASSETS | |||||||
| Current assets: | |||||||
| Cash and cash equivalents | $ | 113,199 | $ | 228,040 | |||
| Accounts receivable, net | 1,652 | 2,281 | |||||
| Receivables from affiliated companies | 278 | 40,969 | |||||
| Inventories | 6,651 | 5,763 | |||||
| Prepaid expenses and other current assets | 32,328 | 38,997 | |||||
| Total current assets | 154,108 | 316,050 | |||||
| Property and equipment, net | 2,679,718 | 2,775,806 | |||||
| Intangible assets, net | - | 5 | |||||
| Long-term prepayments, deposits and other assets | 32,662 | 27,787 | |||||
| Restricted cash | 130 | 130 | |||||
| Operating lease right-of-use assets | 11,645 | 11,619 | |||||
| Land use right, net | 103,322 | 105,304 | |||||
| Total assets | $ | 2,981,585 | $ | 3,236,701 | |||
| LIABILITIES, SHAREHOLDERS’ EQUITY AND PARTICIPATION INTEREST | |||||||
| Current liabilities: | |||||||
| Accounts payable | $ | 5,773 | $ | 2,454 | |||
| Accrued expenses and other current liabilities | 84,596 | 135,514 | |||||
| Income tax payable | 6,880 | 10 | |||||
| Current portion of long-term debt, net | 34,248 | - | |||||
| Payables to affiliated companies | 21,049 | 18,799 | |||||
| Total current liabilities | 152,546 | 156,777 | |||||
| Long-term debt, net | 2,141,002 | 2,335,173 | |||||
| Other long-term liabilities | 3,666 | 3,209 | |||||
| Deferred tax liabilities, net | 614 | 309 | |||||
| Operating lease liabilities, non-current | 11,975 | 12,250 | |||||
| Total liabilities | 2,309,803 | 2,507,718 | |||||
| Shareholders’ equity and participation interest: | |||||||
| Class A ordinary shares, par value | 77 | 77 | |||||
| Class B ordinary shares, par value | 7 | 7 | |||||
| Additional paid-in capital | 2,477,359 | 2,477,359 | |||||
| Accumulated other comprehensive income (losses) | 4,043 | (12,656 | ) | ||||
| Accumulated losses | (1,867,661 | ) | (1,798,683 | ) | |||
| Total shareholders’ equity | 613,825 | 666,104 | |||||
| Participation interest | 57,957 | 62,879 | |||||
| Total shareholders’ equity and participation interest | 671,782 | 728,983 | |||||
| Total liabilities, shareholders’ equity and participation interest | $ | 2,981,585 | $ | 3,236,701 | |||
| Studio City International Holdings Limited and Subsidiaries | |||||||||||||||
| Reconciliation of Net Loss Attributable to Studio City International Holdings Limited to | |||||||||||||||
| Adjusted Net Loss Attributable to Studio City International Holdings Limited (Unaudited) | |||||||||||||||
| (In thousands, except share and per share data) | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||
| September 30, | September 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Net loss attributable to Studio City International Holdings Limited | $ | (20,968 | ) | $ | (28,370 | ) | $ | (68,978 | ) | $ | (114,893 | ) | |||
| Pre-opening costs | 23 | 7,623 | 829 | 17,620 | |||||||||||
| Property charges and other | 323 | 57 | 443 | 540 | |||||||||||
| Loss (gain) on extinguishment of debt | 114 | (80 | ) | 983 | (80 | ) | |||||||||
| Income tax impact on adjustments | - | - | (12 | ) | - | ||||||||||
| Participation interest impact on adjustments | (40 | ) | (653 | ) | (194 | ) | (1,555 | ) | |||||||
| Adjusted net loss attributable to Studio City International Holdings Limited | $ | (20,548 | ) | $ | (21,423 | ) | $ | (66,929 | ) | $ | (98,368 | ) | |||
| Adjusted net loss attributable to Studio City International Holdings Limited per Class A ordinary share: | |||||||||||||||
| Basic and diluted | $ | (0.027 | ) | $ | (0.028 | ) | $ | (0.087 | ) | $ | (0.128 | ) | |||
| Adjusted net loss attributable to Studio City International Holdings Limited per ADS: | |||||||||||||||
| Basic and diluted | $ | (0.107 | ) | $ | (0.111 | ) | $ | (0.348 | ) | $ | (0.511 | ) | |||
| 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: | |||||||||||||||
| 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) | ||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||
| September 30, | September 30, | |||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||
| Operating income (loss) | $ | 15,977 | $ | 3,208 | $ | 35,028 | $ | (42,379 | ) | |||
| Pre-opening costs | 23 | 7,623 | 829 | 17,620 | ||||||||
| Depreciation and amortization | 51,846 | 45,383 | 152,294 | 118,663 | ||||||||
| Property charges and other | 323 | 57 | 443 | 540 | ||||||||
| Adjusted EBITDA | $ | 68,169 | $ | 56,271 | $ | 188,594 | $ | 94,444 | ||||
| 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 | Nine Months Ended | ||||||||||||||
| September 30, | September 30, | ||||||||||||||
| 2024 | 2023 | 2024 | 2023 | ||||||||||||
| Net loss attributable to Studio City International Holdings Limited | $ | (20,968 | ) | $ | (28,370 | ) | $ | (68,978 | ) | $ | (114,893 | ) | |||
| Net loss attributable to participation interest | (1,974 | ) | (2,669 | ) | (6,493 | ) | (10,813 | ) | |||||||
| Net loss | (22,942 | ) | (31,039 | ) | (75,471 | ) | (125,706 | ) | |||||||
| Income tax expense (benefit) | 2,507 | (11 | ) | 7,153 | (77 | ) | |||||||||
| Interest and other non-operating expenses, net | 36,412 | 34,258 | 103,346 | 83,404 | |||||||||||
| Depreciation and amortization | 51,846 | 45,383 | 152,294 | 118,663 | |||||||||||
| Property charges and other | 323 | 57 | 443 | 540 | |||||||||||
| Pre-opening costs | 23 | 7,623 | 829 | 17,620 | |||||||||||
| Adjusted EBITDA | $ | 68,169 | $ | 56,271 | $ | 188,594 | $ | 94,444 | |||||||
| Studio City International Holdings Limited and Subsidiaries | ||||||||||||||||||
| Supplemental Data Schedule | ||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||
| September 30, | September 30, | |||||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||||
| Room Statistics: | ||||||||||||||||||
| Average daily rate (3) | $ | 171 | $ | 167 | $ | 162 | $ | 148 | ||||||||||
| Occupancy per available room | 96 | % | 92 | % | 96 | % | 88 | % | ||||||||||
| Revenue per available room (4) | $ | 164 | $ | 155 | $ | 155 | $ | 129 | ||||||||||
| Other Information: | ||||||||||||||||||
| Average number of table games | 253 | 246 | 250 | 246 | ||||||||||||||
| Average number of gaming machines | 726 | 661 | 679 | 667 | ||||||||||||||
| Table games win per unit per day (5) | $ | 13,212 | $ | 10,380 | $ | 13,270 | $ | 8,331 | ||||||||||
| Gaming machines win per unit per day (6) | $ | 418 | $ | 352 | $ | 443 | $ | 319 | ||||||||||
| (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 | |||||||||||||||||
FAQ
What was Studio City's (MSC) revenue in Q3 2024?
What was Studio City's (MSC) EBITDA for Q3 2024?
How much debt did Studio City (MSC) reduce in Q3 2024?
What was Studio City's (MSC) net loss in Q3 2024?
