Latest news with #MelcoResorts
Yahoo
05-07-2025
- Business
- Yahoo
Macau's Recovery Accelerates: Will Melco's Top Line Keep Up?
Macau's recovery from pandemic-era lows is gaining steam and Melco Resorts & Entertainment MLCO appears to be riding that wave. Melco delivered a strong performance in the first quarter, beating revenue and earnings estimates. The company benefited from a sharp rise in visitation during peak travel periods, such as Golden Week, reflecting a renewed momentum in tourism in Macau. Strong demand in the mass gaming segment lifted table drop volumes at its flagship properties, City of Dreams and Studio City. But as investor optimism returns, the key question is whether this top-line strength is sustainable. CEO Lawrence Ho emphasized that recent gains are not just recovery-driven but also the result of operational improvements, like property renovations and the relaunch of 'House of Dancing Water.' These moves are helping to differentiate Melco's offerings and tap into China's shifting consumer preference for experiences over luxury retail. Still, high-end shopping remains a drag, especially at City of Dreams, while Studio City's more mass-focused retail has performed tailwind is China's current pro-consumption policy environment, which supports domestic tourism and discretionary spending. Yet challenges loom. Non-Macau assets, such as Manila, face a tougher competitive landscape, prompting cost revisions and strategic reviews. Furthermore, while Macau gaming spend shows resilience, the broader recovery could be vulnerable to macro headwinds and shifts in top line looks stable with further gains in first-quarter 2025. However, sustaining this momentum long-term will hinge on disciplined reinvestment, further diversification of non-gaming revenues and navigating regional volatility. The company's strong liquidity and ongoing buybacks provide a cushion, but investors should keep an eye on execution risk and competitive pressures as the post-recovery phase matures. As Melco rebuilds momentum in Macau, it faces growing competition from other U.S.-listed operators with deep pockets and established brand power, namely, Wynn Resorts WYNN and MGM Resorts MGM. Wynn, with a stronghold in the premium segment, continues to attract high-end clientele through its luxury positioning and high-quality service at Wynn Palace and Wynn Macau. Its emphasis on mass premium and operational discipline could challenge Melco's efforts to retain its share among affluent MGM China has been aggressively expanding its market share, recently surpassing 17% thanks to the strong mass-market appeal and rising contributions from non-gaming segments. MGM's alignment with local policy, especially its focus on family-friendly, non-gaming attractions, mirrors Melco's diversification strategy, intensifying the all three push forward in a more rational, cost-conscious environment, maintaining top-line growth will depend on differentiated offerings, operational excellence and effective targeting of the evolving consumer of China. Shares of MLCO have gained 84.8% in the past three months compared with the industry's growth of 40.3%. Image Source: Zacks Investment Research MLCO's current valuation looks promising for investors. The stock is currently trading at a discount compared with the industry peers, with a forward 12-month price-to-sales ratio of 0.73X. Image Source: Zacks Investment Research The Zacks Consensus Estimate for MLCO's 2025 and 2026 earnings implies a year-over-year uptick of 52.6% and 56.3%, respectively. Image Source: Zacks Investment Research Melco currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Wynn Resorts, Limited (WYNN) : Free Stock Analysis Report MGM Resorts International (MGM) : Free Stock Analysis Report Melco Resorts & Entertainment Limited (MLCO) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
04-07-2025
- Business
- Yahoo
Melco Resorts (MLCO) Rallies 11.5% on Higher Price Target, Rosy Macau Gaming
Melco Resorts & Entertainment Ltd. (NASDAQ:MLCO) is one of . Melco Resorts & Entertainment jumped by 11.48 percent on Tuesday to close at $8.06 apiece amid a flurry of catalysts, including a price and rating upgrade, that boosted investing appetite. In its market note, investment firm JPMorgan upgraded its rating and price target for Melco Resorts & Entertainment Ltd. (NASDAQ:MLCO) to 'overweight' from 'neutral' previously, with a higher price target of $9.5 versus $7.2 prior on expectations that the stock still has room to grow higher. The new price target marked a 17.86 percent upside from its latest closing price. Meanwhile, investor sentiment was further supported by Macau's announcement earlier in the week that gross gaming revenues across the industry surged by 19 percent to 21.06 billion patacas or $2.6 billion, partly driven by the series of concerts by Cantopop icon Jacky Cheung, which began in mid-June and will continue until early July. A bustling casino table surrounded by players, highlighting the gaming entertainment offered by the resort. Investors expected higher GGR revenues for June to reflect in Melco Resorts & Entertainment Ltd.'s (NASDAQ:MLCO) financial performance during the past quarter. While we acknowledge the potential of MLCO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
South China Morning Post
10-06-2025
- Business
- South China Morning Post
As Macau seeks economic diversification, 11 satellite casinos to cease operations
By the end of the year, 11 satellite casinos in Macau will cease operations, as the government seeks an economic diversification away from gambling and into exhibitions, entertainment and technology. Satellite casinos are small casinos operated by third parties but under concessionaires' licences. Analysts said the impact on concessionaires was 'broadly neutral', but some firms should see a more immediate increase in table yields. SJM Holdings said it would shut down seven of its nine satellites this year and buy the two others, Ponte 16 and L'Arc Macau, before directly managing them. Galaxy Entertainment Group said it would close the Waldo Casino 'due to commercial considerations', and Melco Resorts & Entertainment said it would shut down the Grand Dragon Casino along with three Mocha Club slot venues: the Mocha Hotel Royal, Mocha Kuong Fat, and Mocha Grand Dragon Hotel. On Monday, Tai Kin Ip, Macau's secretary for economy and finance, said there were around 5,600 local employees at the satellite casinos. He said 4,800 were employed by the concessionaires and 800 worked for the satellite casino operators. In 2022, the Macau government amended its gaming laws before granting six new 10-year casino concessions. It gave satellite casinos three years to shift from a profit-sharing model to a structure where they are directly owned by licensees.
South China Morning Post
10-06-2025
- Business
- South China Morning Post
3 gambling giants to close 11 satellite casinos in Macau amid industry shake-up
Three gaming concession holders in Macau will shut down 11 satellite casinos by the end of this year, when a three-year transition period outlined in amended legislation is set to expire, with local authorities to monitor the impact on the venues' more than 5,000 affected employees. Advertisement Macau authorities announced on Monday that the government had been officially notified by SJM Resorts, Melco Resorts (Macau) and Galaxy Casino that the satellite casinos would cease operations by December 31. The venues set to close include the Grandview, Legend Palace, Fortuna, Landmark, Ponte 16, Le Royal Arc, Emperor Palace, Kam Pek Paradise and Casino Casa Real under SJM Resorts, as well as Grand Dragon of Melco Resorts (Macau) and Galaxy Casino's Waldo. The government said it respected the commercial decisions of the three gaming concessionaires and urged them to treat affected employees properly. Cheong Weng-chon, Macau's administration and justice minister, said: 'The government requires the three gaming concessionaires to properly settle the employees of the satellite casinos and will closely monitor the development of the relevant situation.' Advertisement Secretary for Economy and Finance Tai Kin-ip said that staff at the 11 satellite casinos comprised 5,600 local employees and about 400 imported workers.
Yahoo
09-06-2025
- Business
- Yahoo
Melco Announces Developments in Relation to Mocha Clubs and Grand Dragon Casino
MACAU, June 09, 2025 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment Limited (Nasdaq: MLCO) ('Melco' or the 'Company'), a developer, owner and operator of integrated resort facilities in Asia and Europe, announced that, after considering the Company's overall development strategy and in accordance with Macau law, Grand Dragon Casino and three Mocha Clubs, namely Mocha Hotel Royal, Mocha Kuong Fat and Mocha Grand Dragon Hotel, will cease operations before the end of 2025. The employees working at these venues will be assigned to work at other properties of the Company in Macau, which will secure continued employment for these employees within their current job duties. Gaming tables and electronic gaming machines operating at the above-mentioned affected venues will also be re-allocated to, and continue operations at, other casinos or gaming areas of the Company in Macau. In addition, the Company will apply for the relevant authorizations and approvals from the Macau SAR government for three Mocha Clubs, namely Mocha Inner Harbour, Mocha Hotel Sintra and Mocha Golden Dragon, to continue operations after December 2025, subject to compliance with all legal and regulatory requirements. Safe Harbor Statement This press release contains forward-looking statements. These statements are made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995. Melco Resorts & Entertainment Limited (the 'Company') may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the 'SEC'), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to, (i) changes in the gaming market and visitations in Macau, the Philippines and the Republic of Cyprus, (ii) local and global economic conditions, (iii) capital and credit market volatility, (iv) our anticipated growth strategies, (v) risks associated with the implementation of the amended Macau gaming law by the Macau government, (vi) gaming authority and other governmental approvals and regulations, and (vii) our future business development, results of operations and financial condition. In some cases, forward-looking statements can be identified by words or phrases such as 'may', 'will', 'expect', 'anticipate', 'target', 'aim', 'estimate', 'intend', 'plan', 'believe', 'potential', 'continue', 'is/are likely to' or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company undertakes no duty to update such information, except as required under applicable law. About Melco Resorts & Entertainment Limited The Company, with its American depositary shares listed on the Nasdaq Global Select Market (Nasdaq: MLCO), is a developer, owner and operator of integrated resort facilities in Asia and Europe. The Company currently operates City of Dreams ( and Altira Macau ( integrated resorts located in Cotai and Taipa, Macau, respectively. Its business also includes the Grand Dragon Casino, a casino located in Taipa, Macau and Mocha Clubs ( the largest non-casino based operator of electronic gaming machines in Macau. In addition, the Company operates Studio City ( a cinematically-themed integrated resort in Cotai, Macau. In the Philippines, the Company operates and manages City of Dreams Manila ( an integrated resort in the Entertainment City complex in Manila. In Europe, the Company operates City of Dreams Mediterranean, an integrated resort in Limassol, in the Republic of Cyprus ( and licensed satellite casinos in other cities in Cyprus (the 'Cyprus Casinos'). For more information about the Company, please visit The Company is majority owned by Melco International Development Limited, a company listed on the Main Board of The Stock Exchange of Hong Kong Limited, which is in turn majority owned and led by Mr. Lawrence Ho, who is the Chairman, Executive Director and Chief Executive Officer of the Company. For the investment community, please contact:Jeanny Kim Senior Vice President, Group TreasurerTel: +852 2598 3698Email: jeannykim@ For media enquiries, please contact:Chimmy LeungExecutive Director, Corporate Communications Tel: +852 3151 3765Email: chimmyleung@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
