Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Q3 2023 Earnings Conference Call November 7, 2023 8:30 AM ET
Company Participants
Jeanny Kim - Senior Vice President, Group Treasurer
Lawrence Ho - Chairman & Chief Executive Officer
Geoffrey Davis - Executive Vice President & Chief Financial Officer
David Sisk - Chief Operating Officer, Macau Resorts
Evan Winkler - President
Conference Call Participants
George Choi - Citigroup Inc.
Joseph Greff - JPMorgan
Ricardo Chinchilla - Deutsche Bank
John DeCree - CBRE Securities
Praveen Choudhary - Morgan Stanley
Antonio Luiz Gomes - Ninety One
Operator
Ladies and gentlemen, thank you for standing by in the Third Quarter 2023 Earnings Conference Call of Melco Resorts & Entertainment Limited. At this time, all participants are in a listen-only mode. After the call, we will conduct a question-and-session. Today's conference call is being recorded.
I would now like to turn the call over to Ms. Jeanny Kim, Senior Vice President, Group Treasurer of Melco Resorts & Entertainment Limited. Thank you. Please go ahead.
Jeanny Kim
Thank you, operator, and thank you, everybody, for joining us today for our third quarter 2023 earnings call. On the call are Lawrence Ho, Geoff Davis, Evan Winkler, and our Property Presidents in Macau, Manila and Cyprus.
Before we get started, please note that today's discussion may contain forward-looking statements made under the safe harbor provision of Federal Securities Laws. Our actual results could differ from our anticipated results.
In addition, we may discuss non-GAAP measures. A definition and reconciliation of each of these measures to the most comparable GAAP financial measures are included in the earnings release.
Finally, please note that our supplementary earnings slides are posted on our Investor Relations website.
With that, I'll turn that over to Mr. Lawrence Ho.
Lawrence Ho
Thank you, Jeanny. Macau's recovery continued to grow from strength to strength into the third quarter of 2023, especially during the summer months with our property visitation and casino player hours benefiting from this growth. We had solid performance over the October Golden Week and saw a robust recovery during the remainder of October, with GGR excluding junkets reaching close to 2019 levels.
Both gaming and non-gaming revenues improved, and this was reinforced by our commitment to invest in world-class entertainment and enhance our non-gaming amenities. Our market-leading design standards were recognized last month by Prix Versailles with Morpheus being the only hotel in Macau to have the honor of being included as one of the World's Most Beautiful Hotels.