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Melco Resorts & Entertainment Ltd (MLCO) stock has reached a new 52-week high, hitting $9.00. This milestone reflects a significant upswing for the company, marking a 48.6% increase over the past year. The stock’s performance highlights a robust recovery and growing investor confidence in the company’s prospects, supported by revenue growth of 14% and positive earnings expectations. As Melco continues to navigate the complexities of the global entertainment and hospitality industry, this achievement underscores its resilience and potential for future growth. InvestingPro subscribers can access 8 additional key insights and a comprehensive analysis report about MLCO’s future prospects.
In other recent news, Melco Resorts & Entertainment Limited has been in the spotlight with several key developments. Citi has reiterated its Buy rating on Melco Resorts, raising its price target to $11 from $8.60, citing a strong EBITDA outlook. The firm projects a 12% year-over-year increase in adjusted property EBITDA for the second quarter of 2025, attributing this growth to successful initiatives such as the re-opening of the House of Dancing Water at City of Dreams. In corporate governance updates, Melco Resorts announced the appointment of John Peter Ben Wang as an independent non-executive director, where he will chair the audit and risk committee. His return to the board is expected to bring valuable financial expertise. Furthermore, the company has made operational updates concerning its Mocha Clubs and Grand Dragon Casino (EPA:CASP), though specific details were not disclosed. These adjustments are part of Melco’s strategy to adapt to the evolving gaming landscape and regulatory environment. The company remains committed to transparency and regulatory compliance, as evidenced by its recent SEC filings. Investors and stakeholders are advised to review these filings for further details on Melco’s strategic direction and governance practices.
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