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DIDI - Melco Resorts & Entertainment Ltd.: An Overlooked Casino Recovery Play With Immediate Catalyst
DiDi Global Inc. American Depositary Shares (each four representing one Class A)
Melco Resorts & Entertainment Ltd is a US-listed pure play for the recovery of the Macau gaming market.
Its stock has underperformed the market and its peers over the past 12 months despite the post-pandemic gaming market recovery in Macau.
Pent-up demand in Mainland China could lead to significant seasonal growth of gaming revenues in August and October, likely a surprising boost to Melco’s stock price.
The immediate catalyst will be its next earnings call which is scheduled for July 27, 2021.