Melco to lead market in Macau
The company is expected to be the biggest share gainer in Macau during the second half of the year.
Macau.- Japanese brokerage Nomura has reported that Melco Resorts and Entertainment Ltd is expected to be the share gainer in Macau during the second half of 2018. The performance of the Morpheus hotel at City of Dreams Macau is expected to help with 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.
