21.64 0.00 (0.00%)
After hours: 4:00PM EDT
|Bid||21.66 x 4000|
|Ask||21.67 x 2200|
|Day's Range||21.59 - 22.49|
|52 Week Range||15.33 - 30.15|
|Beta (3Y Monthly)||1.55|
|PE Ratio (TTM)||33.29|
|Earnings Date||Jul 22, 2019 - Jul 26, 2019|
|Forward Dividend & Yield||0.62 (3.12%)|
|1y Target Est||27.63|
Melco Resorts & Entertainment Limited (“Melco”) announces the continuation of “The House of Dancing Water” show, an award-winning spectacle at City of Dreams Macau following its nine years of success. Melco’s successful relation with Dragone started with the premiere of “The House of Dancing Water” in 2010. With the initial 10-year contract up for renewal, Melco and Dragone have mutually decided to continue the show under a new operational structure launched under the new agreement.
Moody's Investors Service says that Melco Resorts Finance Limited's (MRF) Ba2 corporate family and senior unsecured ratings are not immediately affected by the announcement on 30 May that its parent, Melco Resorts & Entertainment Limited (MRE), will acquire a 19.99% stake in Crown Resorts Limited (Baa2 stable) for AUD1.8 billion ($1.2 billion). "The acquisition of a 19.99% stake in Crown will significantly increase the Melco group's debt leverage, but the group's adequate financial flexibility and Crown's good credit quality mitigate this risk," says Sean Hwang, a Moody's Analyst. Moody's expects MRE will fund the majority of the stake purchase with additional debt, while also utilizing part of its internally generated cash and cash on hand, which amounted to $1.5 billion on a consolidated basis as of 31 March 2019.
For many, the main point of investing is to generate higher returns than the overall market. But in any portfolio...
Gambling revenue in the Chinese territory of Macau hit a five-month high in May, although softer demand from high rollers amid a slowdown in the world's No.2 economy and a Sino-U.S. trade war continued to keep a lid on gains. Revenue was 25.95 billion patacas ($3.21 billion), the highest this year, Macau's Gaming Inspection and Coordination said on Saturday, versus 25.5 billion patacas a year ago and also up from April's monthly haul of 23.6 billion patacas. As the special administrative region marks 20 years since its handover from Portuguese rule, slower mainland economic growth, a weaker yuan and a simmering trade war threaten to derail growth.
An Australian regulator said it will review its approval for Crown Resorts' $1.5 billion casino being built in Sydney, after the gambling giant's founder James Packer sold nearly half his stake in the company to Hong Kong's Melco Resorts. The New South Wales gambling regulator had given its nod in 2014 to Crown's prized growth prospect on condition Crown would not do business with the father of Melco CEO Lawrence Ho, Stanley Ho, who at the time under investigation in Australia and the United States for possible ties to organised crime.
HONG KONG/BENGALURU (Reuters) - Melco Resorts & Entertainment will buy a 20% stake in Australia's Crown Resorts from casino mogul James Packer for A$1.76 billion ($1.22 billion), the U.S. company said, months after Wynn Resorts withdrew an offer to buy Crown. The deal presents a great opportunity for Melco, Chief Executive Lawrence Ho told Reuters, as the operator of casinos across Asia, including in Macau and the Philippines, eyes further expansion. Crown's proposed deal with Wynn, the world's No. 2 casino operator, fell through in early April after details were leaked to the media, denying Packer a huge payout as he continues his withdrawal from business life because of mental health issues.
While the announced transaction does not require regulatory approval to be consummated, Melco, its Chairman and Chief Executive Officer, Lawrence Ho, and select Melco executives will promptly submit applications to the gaming regulatory authorities in each of Victoria, Western Australia, New South Wales and any other relevant jurisdictions. Following approval from these authorities, Melco intends to pursue board representation on Crown’s board of directors commensurate with its ownership position. Additionally, subject to obtaining requisite regulatory approvals, Melco welcomes the opportunity to increase its ownership in Crown.
Macau's casino operators have pledged billions of dollars to develop non-gaming attractions in a bid to secure new licences, but analysts predict only the more efficient like Sands China and Galaxy will be able to curb losses and emerge winners. The spending frenzy comes as Beijing pushes to rebrand Macau as a family-friendly destination.
Disappointing performances by gambling stocks over the last five trading days result from concerns over the trade war between Beijing and Washington.
Wins both Best IR Non-Gaming Attraction and Best Corporate Social Responsibility Contribution awards MACAU, May 27, 2019 -- Melco Resorts & Entertainment Limited has been.
Melco Resorts & Entertainment Limited is excited to announce Morpheus as winner of Best Hotel Architecture Macau and Best New Hotel Construction & Design Macau at Asia Pacific Property Awards 2019. Morpheus is part of Melco’s flagship integrated resort, City of Dreams Macau.
Disappointing performances by gambling stocks over the last five trading days can be attributed to concerns over the trade war between Beijing and Washington.
Melco (MLCO) delivered earnings and revenue surprises of 12.00% and 3.43%, respectively, for the quarter ended March 2019. Do the numbers hold clues to what lies ahead for the stock?
On a per-share basis, the Hong Kong-based company said it had profit of 25 cents. Earnings, adjusted for non-recurring costs, were 28 cents per share. The results exceeded Wall Street expectations. The ...
MACAU, May 07, 2019 -- Studio City International Holdings Limited (NYSE: MSC) (“Studio City” or the “Company”), a world-class gaming, retail and entertainment resort located in.
MACAU, May 07, 2019 -- Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (“Melco” or the “Company”), a developer, owner and operator of casino gaming and entertainment.
Marriott's (MAR) first-quarter 2019 revenues are likely to gain from system-wide North America RevPAR growth, courtesy favorable timing of Easter group business.
It's hard to resist bad puns when you're talking about Macau's casino industry. , filed this week for Chapter 11 bankruptcy protection in New York. Will there be more companies to fall, as Macau suffers through a particularly poor patch of form?
Studio City International Holdings Limited (MSC) (“Studio City” or the “Company”), a world-class gaming, retail and entertainment resort located in Cotai, Macau today announced that the Company is aware that New Cotai, LLC (“New Cotai”), a shareholder of Studio City, and certain of New Cotai’s affiliates have commenced a voluntary Chapter 11 bankruptcy petition in the Southern District of New York. The Company does not anticipate that the bankruptcy of New Cotai will have any material impact on the business or operations of Studio City or the funding or the timing of the development and construction of Studio City’s Phase II expansion.