Welcome to our dedicated page for Melco Resorts & Entertainment American Depositary Shares news (Ticker: $MLCO), a resource for investors and traders seeking the latest updates and insights on Melco Resorts & Entertainment American Depositary Shares stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Melco Resorts & Entertainment American Depositary Shares's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Melco Resorts & Entertainment American Depositary Shares's position in the market.
Melco Resorts & Entertainment announced a partnership with John Keells Holdings PLC to develop the 'City of Dreams Sri Lanka', an integrated resort in central Colombo. The project includes a casino license, hotel rooms, retail outlets, and more.
Melco Resorts & Entertainment reported impressive unaudited financial results for the first quarter of 2024, with a significant increase in total operating revenues, operating income, and adjusted property EBITDA compared to the same period in 2023. The positive performance was driven by the recovery in inbound tourism to Macau. Net income also improved, with a shift from a net loss in the first quarter of 2023 to a net income in the first quarter of 2024. The company highlighted various strategic initiatives taken during the period, including management changes, restructuring of sales force, and expansion of retail outlets. Melco's chairman expressed optimism about the company's growth prospects and market leadership in the gaming, entertainment, and leisure sectors.