According to Citigroup's estimates, the market share of gross gaming revenue in the third quarter of 2024 was basically the same as the previous period, about 14.5%.
The Zhitong Finance App learned that Citi released a research report saying that the third quarter results of Melco International Development (00200), a US listed subsidiary of Melco International Development (00200), slightly exceeded expectations. In addition, the group's subsidiary, Melco Boya is considering repaying dividends in the second half of 2025. Coupled with the current low valuation providing investors with attractive entry opportunities, the bank maintained a “buy” rating for Melco International and a target price of HK$6.3.
According to the bank, the adjusted EBITDA of Melco Asia's adjusted properties increased 2% year over year to reach 0.296 billion yuan (USD. same below), exceeding the bank's earlier forecast of 0.292 billion yuan. The adjusted EBITDA margin for properties declined slightly to 27.4% from 27.6% in the third quarter of 2023. The bank estimates that Melco's gross gaming revenue market share for the third quarter of 2024 was basically the same as the previous period, about 14.5%.
