Good morning. The proof is in the performance. Melco posted net income of $76.8 million in 1Q26, more than doubling year over year, with revenue reaching $1.37 billion on stronger mass market demand. EBITDA rose to $381 million, led by Macau operations. The company also announced a $375 million trademark acquisition from its parent, a move expected to eliminate royalty payments and boost EBITDA and cash flow. Meanwhile, Macau recorded more than 630,000 inbound visitors over the first three days of the Labor Day holiday, with May 2nd setting a new single-day arrival record.
What you need to know
- Melco 1Q26 revenue rises 11% and profit jumps 136%, led by Macau mass segment, as international portfolio shows mixed performance.
- Melco agrees $375M IP acquisition to replace licensing fees, boost EBITDA and cash flow, with dividend resumption still targeted in 2026
- Macau logs over 630K arrivals in first 3 days of Golden Week, with May 2nd setting a new single-day record amid peak travel demand.
On the radar
- Melco beats estimates on Macau share gains, Manila strength.
- SkyCity lowers FY26 earnings guidance on macro pressures and costs.
- Macau posts softer April GGR as low hold hits VIP segment: Seaport.
- Macau international hotel guests jump 16% in 1Q26, occupancy at 92.3%.
- Kangwon Land 1Q26 net profit falls nearly half despite revenue growth.
- Macau April GGR totals $2.47B, up 5.5% year-on-year.
AGB Intelligence
RESULTS
Melco 1Q boosted by Macau, Philippines strength
Melco Resorts & Entertainment reported a strong start to 2026, with net income rising 136 percent year-over-year to $76.8 million and revenue up 11 percent to $1.37 billion, driven by mass market growth. Macau remained the core earnings driver, with improved margins and higher EBITDA. While the Philippines delivered solid gains, Cyprus faced geopolitical headwinds. Newly opened Sri Lanka operations contributed modestly as the property continues ramping up.
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