Melco Resorts Reports Strong Q2 Growth
Company Announcements

Melco Resorts Reports Strong Q2 Growth

Melco Resorts & Entertainment (MLCO) has released an update.

Melco Resorts & Entertainment Limited reported a robust financial performance for the second quarter of 2024, with total operating revenues increasing by 22% to US$1.16 billion, driven by a recovery in tourism and strong mass market and non-gaming segments. Operating income more than doubled to US$123.7 million, and the company turned a net profit of US$21.4 million, reversing the previous year’s loss. Notable growth was seen in City of Dreams Mediterranean and satellite casinos in Cyprus, alongside solid results from other properties.

For further insights into MLCO stock, check out TipRanks’ Stock Analysis page.

Related Articles
TheFlyMelco Resorts put volume heavy and directionally bearish
TheFlyMacau reports September casino revenue up 15.5% to 17.25B patacas
TheFlyUnusually active option classes on open September 27th
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App