Asia

Melco expected to post gains in Macau

Published

7 years ago

July 31, 2018

Niji Narayan

Photo source: Focus Gaming News - Melco is expected to report good financial results. Credits: rojourbano.com

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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

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.