里昂：澳博控股市场份额及利润受压 续予“持有”评级

Group 1 - The core viewpoint of the report is that the market share and profits of Melco Resorts & Entertainment (00880) are under pressure, leading to a 15% year-on-year decline in adjusted EBITDA to HKD 881 million for the third quarter [1] - The continued suspension of satellite casinos is expected to drag down the company's market share in the short term [1] - The company has not established a clear timeline for the resumption of dividend payments, indicating a lack of short-term catalysts [1] Group 2 - The report maintains a "Hold" rating for Melco Resorts & Entertainment with a target price of HKD 3.2 [1]