Core Viewpoint - Studio City International Holdings Limited reported a positive financial performance for the third quarter of 2025, with increased revenues and improved operating income compared to the same period in 2024. Financial Performance - Total operating revenues for Q3 2025 were US$182.5 million, up from US$174.6 million in Q3 2024, primarily driven by better mass market operations [2][6] - Studio City Casino generated gross gaming revenues of US$344.4 million in Q3 2025, compared to US$335.5 million in Q3 2024 [2] - Revenue from casino contracts increased to US$77.3 million in Q3 2025 from US$67.3 million in Q3 2024 [5] - Total non-gaming revenues for Q3 2025 were US$105.2 million, slightly down from US$107.3 million in Q3 2024 [6] Gaming Operations - Mass market table games drop was US$942.5 million in Q3 2025, up from US$912.9 million in Q3 2024, with a hold percentage of 33.1% compared to 30.7% in the previous year [3] - Gaming machine handle for Q3 2025 was US$873.3 million, an increase from US$853.0 million in Q3 2024, with a win rate of 3.7% compared to 3.3% in Q3 2024 [3] Operating Income and EBITDA - Operating income for Q3 2025 was US$23.9 million, compared to US$16.0 million in Q3 2024 [7] - Adjusted EBITDA for Q3 2025 was US$78.1 million, up from US$68.2 million in Q3 2024, attributed to increased revenue from casino contracts [7] Net Loss - Net loss attributable to Studio City for Q3 2025 was US$18.6 million, or US$0.10 per ADS, an improvement from a net loss of US$21.0 million, or US$0.11 per ADS, in Q3 2024 [8] Non-Operating Expenses - Total net non-operating expenses for Q3 2025 were US$41.1 million, including interest expense of US$30.9 million and net foreign exchange losses of US$10.1 million [9] Financial Position - Total cash and bank balances as of September 30, 2025, were US$99.6 million, down from US$127.8 million at the end of 2024 [12] - Total debt at the end of Q3 2025 was US$2.06 billion, a reduction from US$2.16 billion at the end of 2024 [12] Capital Expenditures - Capital expenditures for Q3 2025 were US$9.7 million [13]

Core Viewpoint - Studio City International Holdings Limited reported a year-over-year increase in total operating revenues for Q1 2025, driven by improved gaming and non-gaming operations, despite a net loss attributable to the company. Financial Performance - Total operating revenues for Q1 2025 were US$161.7 million, up from US$150.2 million in Q1 2024, reflecting a growth of approximately 11.0% [2] - Studio City Casino generated gross gaming revenues of US$336.2 million in Q1 2025, compared to US$318.4 million in Q1 2024, marking an increase of about 5.5% [2] - Revenue from casino contracts was US$75.9 million in Q1 2025, up from US$66.9 million in Q1 2024, indicating a growth of approximately 13.4% [5] - Total non-gaming revenues for Q1 2025 were US$85.8 million, compared to US$83.3 million in Q1 2024, showing an increase of about 3.0% [6] Gaming Operations - Mass market table games drop was US$923.9 million in Q1 2025, slightly up from US$923.3 million in Q1 2024, with a hold percentage of 32.8% in Q1 2025 compared to 29.5% in Q1 2024 [3] - Gaming machine handle for Q1 2025 was US$871.5 million, an increase from US$824.3 million in Q1 2024, with a win rate of 3.8% in Q1 2025 compared to 3.2% in Q1 2024 [3] Operating Income and Loss - Operating income for Q1 2025 was US$15.3 million, down from US$16.1 million in Q1 2024 [7] - Adjusted EBITDA for Q1 2025 was US$69.9 million, compared to US$66.2 million in Q1 2024, reflecting an increase of approximately 4.0% [7] - Net loss attributable to Studio City for Q1 2025 was US$16.0 million, or US$0.08 per ADS, compared to a net loss of US$14.6 million, or US$0.08 per ADS, in Q1 2024 [8] Non-Operating Expenses - Total net non-operating expenses for Q1 2025 were US$30.8 million, primarily due to interest expenses of US$32.5 million, partially offset by net foreign exchange gains of US$2.0 million [9] Financial Position - Total cash and bank balances as of March 31, 2025, were US$98.0 million, down from US$127.8 million as of December 31, 2024 [12] - Total debt at the end of Q1 2025 remained stable at US$2.16 billion [12] - Capital expenditures for Q1 2025 were US$16.1 million [12] Room and Gaming Statistics - Average daily rate for rooms was US$169 in Q1 2025, up from US$159 in Q1 2024 [29] - Occupancy per available room was 99% in Q1 2025, compared to 96% in Q1 2024 [29] - Average number of table games increased to 253 in Q1 2025 from 246 in Q1 2024 [29]