Studio City Q2 Revenue Falls 2% as Mass Gaming Weakens
MSC is trading near its 52-week low of $1.57 (8.0% above the low).
Summary
Studio City reported Q2 revenue of $164.6 million, down year-over-year, driven by softer mass market table games and non-gaming operations. Adjusted EBITDA fell to $67 million, and net loss widened to $15.6 million, reflecting lower casino contract revenue and higher non-operating expenses. The company provided no specific guidance for future quarters. This follows the Q1 return to profitability and recent debt redemptions, but the Q2 decline signals renewed pressure on Macau operations. Watch for management commentary on the earnings call for any stabilization in mass gaming trends.
At the time of this announcement, MSC was trading at $1.70 on NYSE in the Trade & Services sector, with a market capitalization of approximately $366.6M. The 52-week trading range was $1.57 to $6.63. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.