Monday, July 15, 2024

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Melco project in Sri Lanka poised to capitalize on burgeoning Indian outbound tourism: MS

The new Melco Resorts & Entertainment City of Dreams project in central Colombo, Sri Lanka, could benefit from burgeoning wealth and outbound tourism from India, with its casino possibly helping to generate around 50 percent of the property's EBITDA, brokerage Morgan Stanley predicts.

Melco’s buyback program accounts for about 15% of its market cap: UBS

Nasdaq-listed Melco Resorts & Entertainment Limited's $500 million share buyback program accounts for about 15 percent of its market cap, notes UBS in its investment memo released following the company's announcement.

Melco’s strategic investments and market positioning helped enhance performance: Bank of America

Melco Resorts & Entertainment received an upgrade from Bank of America in a decision said to reflect the gaming operator's strategic investments and market positioning.

Melco’s The House of Dancing Water revamp to be supported by Our Legacy Creations

Melco Resorts & Entertainment will partner with Our Legacy Creations (OLC) to revive the City of Dreams 'The House of Dancing Water' show.

Melco Resorts and Group design one-stop ultra-luxury package for influencers

Melco Resorts & Entertainment and Group recently collaborated to host a lavish three-day, two-night trip in Macau for a select group of artists and influencers from Mainland China and Hong Kong.

Debt reductions on track to improve Melco’s financial stability: CEO

A debt reduction of some $250 million has helped Melco Resorts & Entertainment to mitigate its refinancing risks and bolster the company's financial stability, says the group's CEO Lawrence Ho in its recent conference call.

City of Dreams Sri Lanka could achieve up to $250M in GGR: Melco Resorts CFO

The recently announced City of Dreams Sri Lanka project could achieve Gross Gaming Revenue (GGR) ranging between $200 million to $250 million on a run-rate basis, the group's management revealed.

Melco launching City of Dreams Sri Lanka, casino to open mid-2025

Melco has been awarded a 20-year casino license to operate City of Dreams Sri Lanka, in the country’s capital of Colombo.

Melco could resume dividend payments in FY25: Bank of America 

The investment unit of Bank of America says that it expects Melco will resume dividend payments from FY25 onwards. This forecast has brought forward the timing compared to the previous expectation of only in FY26.

Melco Resorts senior notes should help finances, possible EBITDA of $1.3B in 2024: Moody’s

Both Moody's Ratings and S&P Global Ratings issued evaluations on the recently announced senior notes linked to Melco Resorts & Entertainment Limited, stating the move should help the group repay its debt and improve financial leverage.