Quarterly ResultMay 29, 2026, 06:12 AM
Studio City Finance Q1 Net Income $2.9M; Revenue $176.7M; Debt Refinanced
AI Summary
Studio City Finance Limited reported a net income of $2.9 million for Q1 2026, a significant improvement from a net loss of $17.7 million in Q1 2025. Total operating revenues increased to $176.7 million, driven by better casino contract performance and higher non-gaming revenues. The company also undertook significant debt refinancing activities post-quarter end, including issuing new notes and tendering existing ones.
Key Highlights
- Net income attributable to Studio City Finance Limited was $2.9 million in Q1 2026, up from a net loss of $17.7 million in Q1 2025.
- Total operating revenues increased to $176.7 million in Q1 2026, compared to $161.7 million in Q1 2025.
- Gross gaming revenues at Studio City Casino rose to $373.5 million in Q1 2026 from $336.2 million in Q1 2025.
- Total non-gaming revenues increased to $89.8 million in Q1 2026, up from $85.8 million in Q1 2025.
- Net cash used in operating activities improved to $5.1 million in Q1 2026 from $6.6 million in Q1 2025.
- Issued $300.0 million in 2031 SCC Senior Secured Notes on May 15, 2026.
- Purchased $196.4 million of 2027 SCC Senior Secured Notes in May 2026 tender offer.
- Remaining $153.6 million of 2027 SCC Senior Secured Notes to be redeemed on June 5, 2026.
Price Impact
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