MLCO - Why Casino Gaming Operator Melco Resorts & Entertainment Shares Are Down Today | Benzinga
Melco Resorts & Entertainment Limited (NASDAQ:MLCO) shares are trading lower after the company reported fourth-quarter FY23 results.
Sales growth of 224% Y/Y to $1.09 billion missed the analyst consensus estimate of $1.128 billion.
The Y/Y growth in revenues was primarily attributable to the improved performance in all gaming segments and non-gaming operations following the relaxation in Macau of COVID-19-related restrictions in January 2023 and the opening of Studio City Phase 2.
Revenue from City of Dreams increased to $559.8 million from $139.2 million a year ago, with rolling chip volume rising significantly to $5.19 ...