Melco expected to post gains in Macau

Melco Resorts and Entertainment Ltd. is expected to emerge as the largest share gainer in Macau during the second half of the year, according to Japanese brokerage firm Nomura. The performance of the Morpheus hotel at City of Dreams Macau would be the biggest factor behind this improvement.

Analysts Harry Curtis, Daniel Adam and Brian Dobson said: “We expect the roughly 10 basis points sequential decline in Melco Resorts’ second-quarter gross gaming revenue (GGR) share in Macau to reverse starting in the third quarter as Morpheus continues to ramp and with construction disruption no longer a headwind,” GGRAsia reported.

“Net revenue for the second quarter of 2018 was US$1,228.6 million, representing a decrease of approximately 5 per cent from US$1,298.2 million reported for the comparable period in 2017. Operating income for the second quarter of 2018 was US$118.1 million, compared with operating income of US$127.4 million in the second quarter of 2017, representing a decrease of 7 per cent,” said Melco in a press statement.

Source: focusgn.com