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Morningstar•March 22, 2024
Morningstar•March 22, 2024Melco Resorts & Entertainment Limited: Macao Gaming: MGM China and Wynn Macau’s DPS a Positive Surprise, Lifting Investors' Confidence
Summary
Melco Resorts & Entertainment is one of only six licensed casino operators in Macao. It operates Altira, a complex focused on premium customers; City of Dreams, an integrated resort in Cotai serving both mass-market and premium patrons; and Mocha Clubs electronic gaming machines. The company also has a majority interest in Studio City, which opened in 2015. Outside Macao, Melco owns City of Dreams Manila in the Philippines and City of Dreams M
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Analyst Profile
Jennifer Song
Equity AnalystJennifer Song is an equity analyst for Morningstar (Shenzhen) Ltd., a wholly owned subsidiary of Morningstar, Inc. She covers industrials and utilities securities listed in Hong Kong and China.Prior to joining Morningstar in 2012, Song was an investment manager at Royal Bank of Canada (Asia) and was responsible for discretionary portfolio investment in global equities. Before joining RBC Asia in 2011, she worked for China BOCOM Insurance as a portfolio manager, investing in Hong Kong equities. Song began her career in 2006 as a research analyst for Marco Polo Pure Asset Management, covering China and Hong Kong securities.Song holds a master's degree in actuarial studies from the University of New South Wales.