Morningstar
•
Nov 06, 2026
Melco Resorts & Entertainment Limited: Melco Resorts Earnings: Cost Saving Not Enough to Offset Demand Weakness; Reducing Fair Value by 19%
Symbols
MLCOSector(s)
Consumer Cyclical
Rating
Current Price
4.51
Fair Value
Economic Moat
Stewardship
Summary
Melco Resorts & Entertainment is one of only six licensed casino operators in Macao. It operates Altira, a complex focused on premium customers; City of Dreams, an integrated resort in Cotai serving both mass-market and premium patrons; and Mocha Clubs' electronic gaming
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Jennifer Song
Equity Analyst
Jennifer Song is an equity analyst for Morningstar (Shenzhen) Ltd., a wholly owned subsidiary of Morningstar, Inc. She covers industrials and utilities securities listed in Hong Kong and China.Prior to joining Morningstar in 2012, Song was an investment manager at Royal Bank of Canada (Asia) and was responsible for discretionary portfolio investment in global equities. Before joining RBC Asia in 2011, she worked for China BOCOM Insurance as a portfolio manager, investing in Hong Kong equities. Song began her career in 2006 as a research analyst for Marco Polo Pure Asset Management, covering China and Hong Kong securities.Song holds a master's degree in actuarial studies from the University of New South Wales.
