Melco’s Cyprus resort posts record quarter as weak Macau and poor VIP luck hit group profit

Melco Resorts' Cyprus business grew in the third quarter of 2026 while poor VIP results and a softer Macau market pushed group net income close to zero. The split matters for anyone tracking land-based casino investment in Europe. Melco Resorts & Entertainment’s Macau flagship stumbled in the three months to 30 September 2026, while its European business moved the other way. City of Dreams Mediterranean in Limassol, Europe’s largest integrated resort, and its Cyprus satellite casinos produced their highest quarterly EBITDA on record. At group level, earnings almost disappeared.