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Citi Maintains Melco Resorts and Entertainment(MLCO.US) With Buy Rating, Maintains Target Price $14
Citi analyst George Choi maintains $Melco Resorts and Entertainment(MLCO.US)$ with a buy rating, and maintains the target price at $14.According to TipRanks data, the analyst has a success rate of 45.
Morgan Stanley predicts that MGM China Holdings (00027.HK) and Melco Resorts & Entertainment Limited (MLCO.US) will both increase their market share in the second quarter.
According to a report by Macquarie, gambling revenue for the second quarter in Macau was 3% lower than the bank's expectations, although it rebounded to 77% of 2019 levels, but only slightly higher than the 75% level in the first quarter of this year. The weak performance of gambling revenue is mainly due to the 2024 European Cup opening on June 14, which will shift entertainment demand to online sports gambling, and the game will end on July 14; Jacky Cheung's concert was held from June 9 to July 2 last year, making the base high; the promotional environment of the gambling industry this season is more rational, and the government has required casinos to stop providing free snacks to visitors. The bank lowered the adjusted property EBITDA in Macau for the second quarter by 6%.
Asian Equities Traded in the US as American Depositary Receipts Open Week Slightly Higher in Monday Trading
Asian equities traded in the US as American depositary receipts opened the week trending slightly higher Monday morning, rising 0.14% to 2,020.67 on the S&P Asia 50 ADR Index.From North Asia, the gain
Morgan Stanley Maintains Melco Resorts and Entertainment(MLCO.US) With Buy Rating, Maintains Target Price $9.6
Morgan Stanley analyst Praveen Choudhary maintains $Melco Resorts and Entertainment(MLCO.US)$ with a buy rating, and maintains the target price at $9.6.According to TipRanks data, the analyst has a su
"Dahang" UBS Group: Macau's June gambling revenue meets expectations, with Sands China (MLCO.US) and Galaxy Entertainment (00027.HK) as the top choices.
UBS Group pointed out that Macau's total gambling revenue in June recorded 17.7 billion Macau dollars, an increase of 16% year-on-year and a decrease of 12% month-on-month. The average daily gambling revenue decreased by 9% to 590 million yuan per month, roughly in line with expectations and about 75% of the level in 2019. The slowdown in the previous month was consistent with seasonal factors from 2015 to 2019. Based on its tracking of 33 hotels, the bank expects the average hotel room price to be 3,200 Hong Kong dollars per night in the next month, up 6% year-on-year and down 5% week-on-week. The bank expects that the increase in tourists will benefit from the addition of 8 more cities and aviation flights for mainland tourists in the summer.
Shares of Gambling Stocks Are Trading Lower After Macau Revenue Fell in June.
Shares of Gambling Stocks Are Trading Lower After Macau Revenue Fell in June.