The casino company said the December quarter's increase in gross operating revenue was "mainly attributed to improved performance in all gaming segments and non-gaming operations, driven by a continued recovery in Macau inbound tourism."

The company posted a net loss of $81.3 million in the first quarter of 2023, compared to a net loss of $15.2 million for shareholders in the first quarter of 2023. Melco Resorts posted a net loss of $156.6 million in the fourth quarter of 2023.

Melco Resorts' operating profit for the three months to March 31 was $125.4 million, a sequential increase of 32.8% compared to $400,000 in the first quarter of 2023.

Total operating expenses for the first quarter were $987.1 million, a 16.8% decrease sequentially. The figure was 37.8% higher than the previous year.

Adjusted real estate earnings (EBITDA) for the first quarter before interest, taxation, depreciation and amortization fell 1.5% sequentially to $298.8 million, but increased 56.6% year over year.

Melco Resorts operates a casino in Macau in the Philippine capital of Manila and a gaming site in the Mediterranean island of Cyprus. The company announced its investment in a casino resort in the Sri Lankan capital of Colombo on Tuesday. It said local gaming operations are expected to begin "in the middle of 2025."

"We've had an eventful year so far. We've had a change of management, our sales force has been restructured, we've started tearing down walls and reconfiguring our gaming zones, and we've opened several new retail stores in Studio City," Lawrence Ho Yau Lung, president and CEO of Melco Resorts, said in a prepared speech

He added: "In terms of financing, we have repaid another $250 million in debt, raised $750 million in bonds, and extended the maturity of our $1.9 billion revolving credit facility, significantly reducing the risk of refinancing in 2025."

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