Melco International Development （0200.HK） GGR Rally Underperformed Sector’s in 2Q24
Huatai Financial Holdings （Hong Kong） Limited·2024-08-15 03:19
Equity Research Report Melco International Development (200 HK) GGR Rally Underperformed Sector's in 2024 Huatai Research 15 August 2024 | China (Hong Kong) Quick Take Gambling BUY, target price of HKD5.60 based on 2025E EV/EBITDA of 7.0x Melco Resorts & Entertainment (MLCO US), subsidiary of Melco International Development, has released 2Q24 results; net income was USD1,160mn (+4.3% qoq), adjusted property EBITDA was USD303mn (+1.3% gog; 68% of 2Q19 level), and property EBITDA margin was 26.2% (2Q19/1Q24: ...