Melco Resorts Upped to Outperform by Credit Suisse

Equity analyst Fong pointed to Melco's non-gaming assets speeding up the recovery of mass gaming as one of the factors behind the decision.

Developer, owner and operator of integrated casino resorts in Asia and Europe, Melco Resorts & Entertainment, has seen its rating upped from Neutral to Outperform by Credit Suisse.

Summer Holidays and Chinese Policy
Credit Suisse said in its report that summer holidays and developments around Chinese policy were behind the decision to raise the rating of Melco Resorts to buy, considering these developments as positive catalysts.

Commenting in the report, Credit Suisse equity analyst, Kenneth Fong, outlined that a better-than-expected rate of recovery of the gambling industry in Macau, together with a supportive government in the SAR are the factors that should provide support for Melco shares.
 

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