Melco Resorts buys back USD45 million in shares

Melco Resorts & Entertainment has repurchased approximately USD8.33 million shares for nearly $44.5 million, according to a filing from parent company Melco International Development Limited (0200.HK). This buyback is part of a three-year, $500 million program initiated in June 2024. The American Depositary Shares (ADS) purchased are equivalent to three ordinary shares each. The company expressed confidence in its long-term growth strategy through this move. In the second quarter of 2024, Melco reported a net profit of $21.39 million, a significant recovery from a loss of $23.44 million a year earlier. The buyback program, coupled with positive earnings forecasts, positions Melco favorably for potential stock price appreciation in the near term.

Melco Resorts buys back USD45 million in shares

Melco Resorts buys back USD45 million in shares

Melco Resorts buys back USD45 million in shares

Melco Resorts buys back USD45 million in shares

Melco Resorts buys back USD45 million in shares