Earnings ForecastAnalyst raises 2025-26E property EBITDA for Melco by 9% and cash earnings by 27-29% due to higher sector GGR forecast.
Reinvestment StrategyThe Q2 results show that Melco is making progress in its reinvestment strategy, even though cost increase initially ramped up faster than revenues.
Stock RepurchaseThe company announced it has acquired 8.3mn ADSs (1.9% of the total outstanding) in the open market for an aggregate consideration of US$44.5mn, which should support the stock valuation.