City Of Dreams was Melco Resorts & Entertainment’s largest segment in fiscal 2025, bringing in $2.74B of $5.15B (53%).
| Segment | FY 2012 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| City Of Dreams | $559.68M | $1.93B | $2.28B | $2.74B | ||||||||
| Studio City | $175.98M | $958.35M | $1.39B | $1.48B | ||||||||
| City Of Dreams Manila | $396.39M | $495.10M | $472.34M | $411.10M | ||||||||
| Altira Macau | $32.62M | $110.83M | $125.10M | $107.02M | ||||||||
| City Of Dreams Mediterranean & Other | $91.26M | $159.36M | $234.58M | $300.17M | ||||||||
| Mocha Clubs | — | — | — | — | ||||||||
| Mocha & Other | $76.40M | $117.70M | $122.60M | $107.05M | ||||||||
| Cyprus Operations | — | — | — | — | ||||||||
| Corporate & Other | — | — | — | — | ||||||||
| Corporate & Others | — | — | — | — | ||||||||
| Other Operation | — | — | — | $12.51M | ||||||||
| Total | $1.33B | $3.77B | $4.63B | $5.15B |
Melco Resorts & Entertainment brought in $5.15B from its seven segments in fiscal 2025, the year ended December 31, 2025. Melco Resorts & Entertainment regrouped these segments after fiscal 2024, so the total does not compare directly with that year's $4.63B. City Of Dreams was the largest at $2.74B (53.1%), ahead of Studio City at $1.48B (28.7%) and City Of Dreams Manila at $411.10M (8.0%). The other four segments brought in $526.76M combined.
Compared with fiscal 2024, City Of Dreams Mediterranean & Other grew fastest, up 28.0% to $300.17M, while Altira Macau fell the most, down 14.4% to $107.02M.
Melco Resorts & Entertainment began breaking out Other Operation in fiscal 2025, when it brought in $12.51M.
Macau was Melco Resorts & Entertainment’s largest region in fiscal 2025, bringing in $4.43B of $5.16B (86%).
| Geography | FY 2012 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Macau | $844.69M | $3.12B | $3.92B | $4.43B | ||||||||
| The Philippines | $396.39M | $495.10M | $472.34M | $411.10M | ||||||||
| Cyprus | $91.26M | $159.36M | $234.58M | $300.17M | ||||||||
| Other | $17.65M | $3.43M | $11.01M | $22.82M | ||||||||
| Total | $1.35B | $3.78B | $4.64B | $5.16B |
Melco Resorts & Entertainment brought in $5.16B from its four regions in fiscal 2025, the year ended December 31, 2025. That was up 11.3% from $4.64B in fiscal 2024. Macau was the largest at $4.43B (85.8%), ahead of The Philippines at $411.10M (8.0%) and Cyprus at $300.17M (5.8%). The remaining region, Other, brought in $22.82M.
Compared with fiscal 2024, Cyprus grew fastest, up 28.0% to $300.17M, while The Philippines fell the most, down 13.0% to $411.10M. From fiscal 2022 to 2025, combined revenue from these regions grew from $1.35B to $5.16B, a compound annual growth rate of 56.4%. Macau's share of the total rose from 62.6% to 85.8%.
Casino was Melco Resorts & Entertainment’s largest product and service line in fiscal 2025, bringing in $4.25B of $5.16B (82%).
| Product and Service | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Casino | $1.08B | $3.08B | $3.77B | $4.25B | ||||
| Rooms | $116.55M | $338.22M | $422.57M | $443.99M | ||||
| Food & Beverage | $85.52M | $208.89M | $285.93M | $290.72M | ||||
| Entertainment, Retail & Other | $71.51M | $150.83M | $157.06M | $181.57M | ||||
| Total | $1.35B | $3.78B | $4.64B | $5.16B |
Melco Resorts & Entertainment brought in $5.16B from its four product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 11.3% from $4.64B in fiscal 2024. Casino was the largest at $4.25B (82.3%), ahead of Rooms at $443.99M (8.6%) and Food & Beverage at $290.72M (5.6%). The remaining line, Entertainment, Retail & Other, brought in $181.57M.
Compared with fiscal 2024, Entertainment, Retail & Other grew fastest, up 15.6% to $181.57M. Every line above 2% of revenue grew. From fiscal 2022 to 2025, combined revenue from these lines grew from $1.35B to $5.16B, a compound annual growth rate of 56.4%. Casino's share of the total rose from 79.7% to 82.3%.
Melco Resorts & Entertainment (MLCO) reports its revenue by segment, by geography and by product and service. In fiscal 2025, City Of Dreams was its largest segment, bringing in $2.74B (53.1% of the total), followed by Studio City at $1.48B (28.7%).
City Of Dreams was Melco Resorts & Entertainment's largest segment in fiscal 2025, bringing in $2.74B, or 53.1% of the $5.15B total across its seven segments.
Macau was Melco Resorts & Entertainment's largest region in fiscal 2025, bringing in $4.43B, or 85.8% of the $5.16B total across its four regions.
Casino was Melco Resorts & Entertainment's largest product and service line in fiscal 2025, bringing in $4.25B, or 82.3% of the $5.16B total across its four product and service lines.
Among Melco Resorts & Entertainment's regions that make up at least 2% of revenue, Cyprus grew fastest in fiscal 2025, up 28.0% from $234.58M to $300.17M.
Every figure comes from Melco Resorts & Entertainment's annual financial filings, as reported. Each line keeps the name Melco Resorts & Entertainment gives it, and years follow its fiscal calendar.
Melco Resorts & Entertainment's revenue by segment goes back to fiscal 2012, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.