Melco International Development Limited — Cyborg Score 5/10
Mixed
Gaming, Hospitality & Entertainment - Casino Resorts and Integrated Entertainment Destinations
Strategic Profile
The company operates through a Casino and Hospitality segment providing casino operations and hospitality services through Melco Resorts and ICR Group, and an Others segment comprising other gaming, leisure and entertainment, and property investments. Its flagship properties include City of Dreams in Macau, Studio City, Altira Macau, and City of Dreams Manila and City of Dreams Mediterranean. The company benefits from Macau's recovery as a gaming destination while diversifying internationally.
Cyborg Score Rationale
Melco operates in highly cyclical gaming and hospitality sectors with significant exposure to Macau regulatory and economic factors. While the company shows strong EBITDA of 8.09B HKD with a 36.79% EBITDA margin, recent financial performance has been volatile with recent losses. The company's recovery depends heavily on Macau tourism recovery post-pandemic.
Top Insights
Stock has shown a negative return of 25.02% over the last year, though recent monthly performance showed a 45.11% rise, indicating volatile sentiment around Macau reopening
Operations span Macau, Hong Kong, the Philippines, Cyprus, and Japan with maximum revenue derived from Macau, creating significant geographic concentration risk
The company employs 21,800 people as of May 2025, indicating substantial operational scale across multiple jurisdictions
Portfolio diversification into non-casino entertainment and property development provides revenue stability beyond pure gaming exposure
Named Competitors
Galaxy Entertainment Group — Major Macau casino operator with multiple integrated resorts
Sands China — US-based operator of The Venetian and Parisian Macau properties
MGM Resorts International — US casino operator with MGM Grand Macau operations
City of Dreams Manila — Melco's premier integrated resort in the Philippines
Recent Developments
(May 2025) Stock trading at HK$3.84 with 52-week range of HK$3.12-HK$6.95 reflecting market volatility and recovery expectations
(2025) EBITDA margin of 36.79% demonstrates operational efficiency despite recent net income challenges
(2025) Continued expansion of City of Dreams branded properties across Asia-Pacific region as core growth strategy
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