Melco Resorts & Entertainment ( (MLCO) ) has shared an announcement.
Melco Resorts & Entertainment reported a positive shift in its financial performance for the fourth quarter of 2024, with total operating revenues increasing by 9% to $1.19 billion compared to the same period in 2023. This improvement was driven by enhanced performance across all gaming segments and non-gaming operations. The company transitioned from an operating loss in the previous year to an operating income of $97 million. Despite a net loss of $20.3 million, this was a significant reduction from the $205.9 million loss in the fourth quarter of 2023. The company experienced growth in market share and property visitation in Macau, with City of Dreams Manila and City of Dreams Mediterranean showing strong results. Additionally, the development of the casino at City of Dreams Sri Lanka is on track, with operations expected to commence in the third quarter of 2025.
More about Melco Resorts & Entertainment
Melco Resorts & Entertainment Limited is a developer, owner, and operator of integrated resort facilities in Asia and Europe. The company focuses on providing gaming and non-gaming entertainment experiences, with a significant presence in Macau, Manila, and Cyprus.
YTD Price Performance: 1.09%
Average Trading Volume: 3,895,518
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $2.34B
For an in-depth examination of MLCO stock, go to TipRanks’ Stock Analysis page.
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