Professional
Added to YB: 2024-07-24
Pitch date: 2024-07-11
MLCO [bullish]
Melco Resorts & Entertainment Limited
+18.4%
current return
Author Info
No bio for this author
Company Info
Melco Resorts & Entertainment Limited develops, owns, and operates casino gaming and resort facilities in Asia and Europe.
Market Cap
$3.5B
Pitch Price
$6.74
Price Target
11.60 (+43%)
Dividend
N/A
EV/EBITDA
8.74
P/E
35.37
EV/Sales
1.98
Sector
Hotels, Restaurants and Leisure
Category
growth
Melco Returned to Net Profit; Liquidity Profile Improved
MLCO: Macao casino op w/ narrow moat, $11.60 PT. 8% rev CAGR 2023-33, EBITDA margin to 29%. Bull: China reopening, premium mass segment. Bear: Stricter license terms, competition. Risks: Regulatory, VIP crackdown. Studio City phase 2 (900 rooms) to drive share. Low 2% penetration vs 13% Vegas. High uncertainty rating.
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