Melco Resorts and Entertainment Ltd Shs Sponsored American Deposit Receipt Repr 3 Shs Stock News

Melco Resorts & Entertainment Limited (NASDAQ:MLCO ) Q3 2024 Earnings Conference Call November 5, 2024 8:30 AM ET Company Participants Jeanny Kim - Senior Vice President, Group Treasurer Evan Winkler - President Lawrence Ho - Chairman and CEO Geoffrey Davis - EVP and CFO Conference Call Participants George Choi - Citi John DeCree - CBRE Luis Ricardo Chinchilla - Deutsche Bank Praveen Choudhary ...

MACAU, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment Limited (Nasdaq: MLCO) (“Melco” or the “Company”), a developer, owner, and operator of integrated resort facilities in Asia and Europe, today reported its unaudited financial results for the third quarter of 2024.

MACAU, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Melco Resorts & Entertainment Limited (Nasdaq: MLCO), a developer, owner and operator of integrated resort facilities in Asia and Europe, today announces that it will release its unaudited financial results for the third quarter of 2024 on Tuesday, November 5, 2024 to be followed by a conference call on the same day at 8:30 a.m. Eastern Time (or 9:30 p.m...

Since China launched a series of stimulus measures, US-listed casino and copper stocks have performed exceptionally well. A research company is suggesting investors consider buying these stocks.

Melco Resorts & Entertainment has faced significant challenges in past years from China's response to COVID, as tourism in Macau has suffered greatly. While Macau's tourism has recovered and the Chinese economy looks to gain from stimulus measures, remaining strict VIP casino guidelines continue to pressure the overall performance. Melco's relatively low margin level and high debt leverage risk...

China announced a stimulus that is aimed at reaching the country's 5% GDP growth goal. Investors are betting that one area to benefit from stimulus is Macao's casinos.

China will provide "necessary fiscal spending" to kick-start a sluggish economy. The stock market in China has struggled recently, and this news brought it back to life.

The People's Bank of China has announced a series of stimulus measures to boost GDP growth in 2024. Reuters calls the measures, which include interest rate cuts and new financing for stock buybacks, China's "biggest stimulus since the pandemic.