Melco Resorts & Entertainment Limited (NASDAQ:MLCO) Q3 2024 Earnings Conference Call November 5, 2024 8:30 AM ET
Company Participants
Jeanny Kim - Senior Vice President, Group Treasurer
Evan Winkler - President
Lawrence Ho - Chairman and CEO
Geoffrey Davis - EVP and CFO
Conference Call Participants
George Choi - Citi
John DeCree - CBRE
Luis Ricardo Chinchilla - Deutsche Bank
Praveen Choudhary - Morgan Stanley
Simon Cheung - Goldman Sachs
Operator
Ladies and Gentlemen, thank you for participating in the Third Quarter 2024 Earnings Conference Call of Melco Resorts and Entertainment Limited. At this time, all participants are in a listen-only mode. After the call, we will conduct a question-and-answer session. Today's conference is being recorded.
I'll now turn the call over to Ms. Jeanny Kim, Senior Vice President, Group Treasurer of Melco Resorts and Entertainment Limited. Please go ahead.
Jeanny Kim
Thank you, Operator, and thank you all for joining us today for our third quarter 2024 earnings call. On the call are Lawrence Ho, Geoff Davis, Evan Winkler and our Property Presidents in Macau, Manila and Cypress.
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 now turn the call over to Mr. Lawrence Ho.
Lawrence Ho
Thank you, Jeanny, and thank you all for joining us today. Our initiatives to activate areas throughout our properties and drive visitation are coming together. In September, we launched a revamped loyalty program including the Signature Club for our Premium mass customer base. As part of this relaunch, we also introduced a new tier for our highest level of premium mass player that offers exclusive benefits and personalized experiences.
This renewed loyalty program is starting to show the benefits of increasing efficiency in our player reinvestment. We opened a new signature premium slot area at City of Dreams and at Studio City we opened the Dragon Zone, a highly themed slot area in partnership with Aristocrat Gaming.
We are enhancing accessibility into City of Dreams starting with the entrance on the corner across from the MGM Cotai and Wynn Palace, which benefits from the highest footfall. We completed a new light tunnel at that entrance, which is complemented by live performances.