MLCO found itself at the epicenter of growth in the former Portuguese colony. Founded through the collaboration of a Hong Kong-based company that originally specialized in electric utility service in Macau and the Australian gaming giant Crown LimitedMelco recently changed its name from Melco Crown Entertainment, reflecting Crown's decision to sell off a portion of its holdings to make Melco International Development the majority owner.
With Macau having gone through turbulent times, Melco stock fell sharply from tobut now, a rebound has lifted shares of the entertainment and casino stock.
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- Apr 5, The company announced it is changing its English-language name, as well as its ticker symbol and main website URL. Its new moniker is Melco Resorts & Entertainment; appropriately enough this sits at casinoslotluck.info The company's shares will remain on the Nasdaq, but trade.
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Looking forward, many think that Melco could see even greater gains ahead. In the early s, Melco benefited greatly from the rise of Macau as the gaming center of the world.
Impressive growth lifted shares of Melco and its rivals, and the potential Melco Crown the area seemed limitless. As China and other surrounding nations Slotocash Casino unprecedented levels of prosperity, interest in the region rose dramatically, and visitors saw Macau as a destination they couldn't miss. Within the casino industry, Melco had the virtue of being a nearly pure play on the Macau market.
LVS had more exposure to the global gaming industry, Melco Crown with all the action happening in Macau, operations in Las Vegas and in other slower-growth areas only held Sands back despite its first-mover status both with its Sands Macao resort and in moving to the Cotai Strip with its Sands Cotai Central property. By earlyMacau was the only place to be for gamingand Melco commanded considerable respect with a sky-high valuation.
Just when things seemed to be unstoppable for Melco, the bottom fell out of the Macau market. Gross revenue in the city topped out and started to decline, and Melco's response to push abroad and open its City of Dreams Manila resort had a diversifying impact but showed how quickly sentiment turned about Macau's prospects.
It took years for Macau to hit bottom, and Melco lost more than two-thirds of its value. Coming intoMelco faced a tough situation. New resorts from competitors threatened to make its market-share decline even further.
Changing strategies among other casino players led to a greater emphasis on the mass market, which had been Melco's strong suit. Yet the stock has bounced back, and optimism among investors is behind the move. Part of the positive mood comes from hopes that Melco can win entry Melco Crown the long-closed Japanese marketwhere the government is expected to allow at least one gaming license for a major resort.
It will likely be the end of before Japan moves forward, but a Melco win on the island nation could be a huge growth driver going forward. Also, Melco's rebranding effort is driving interest in the company. The departure of Crown gives Melco the chance to polish its image, and that could give it a competitive advantage as visitors look for innovation and novelty rather than history.
Finally, Macau itself has recovered sharplywith double-digit gains in revenue.
Melco Crown Studio City Macau
Melco is getting its fair share of that rising revenue, and the prospect for non-gaming operations to bring in greater sales appears likely to be the long-term driver of true growth for Macau.
Melco Resorts and Entertainment has a lot further to go before its stock can regain its past heights. However, now that Macau has gone through the depths of its business cycle and appears to Melco Crown on a sustained upswing, Melco will have the opportunity to prove that it can move ahead of its industry rivals and stake its claim to healthier conditions -- not just in the former Portuguese colony but also throughout the booming Asia-Pacific region more broadly.
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Dan Caplinger has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Macau will be key inbut a new market may open up that could really boost prospects for casino resort operators.
Melco Resorts is even willing to move its headquarters to Japan if William Hill Vegas Slots wins a casino resort license in the country.
Melco Resorts has a presence in some of the most attractive gaming markets in the world, but that doesn't mean it's a great stock to buy today. Dan Caplinger has been a contract writer for the Motley Fool since As the Fool's Director of Investment Planning, Dan oversees much of the personal-finance and investment-planning content published daily on Fool. With a background as an estate-planning Silverfang and independent financial consultant, Dan's articles are based on more than 20 years of experience from all angles of the financial world.
Skip to main content The Motley Fool Melco Crown. Stock Advisor Flagship service. Rule Breakers High-growth stocks. Income Investor Dividend stocks. Hidden Gems Small-cap stocks. Inside Value Undervalued stocks. View all Motley Fool Services. Learn How to Invest. Jun 9, at 9: What to Watch in Travis Hoium Dec 21, Macau will be key inbut a new market may open up that could really boost prospects for Melco Crown resort operators.
Is Melco Resorts a Buy? Travis Hoium Sep 19, Melco Resorts has a presence in some of the most attractive gaming markets in the world, but that doesn't mean it's a great stock to buy today.
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