Melco Resorts & Entertainment (MLCO) — Research Summary as of August 11, 2026

Recent Catalysts (Last ~1–3 Months)

Q1 2026 Earnings (reported April 30, 2026): Melco's Macau EBITDA grew 16% year-over-year in Q1 2026, which analysts interpreted as a clear recovery signal [2]. The company's Macau properties generated 87% of group gross gaming revenue and 75% of EBITDA, with both metrics expanding year-on-year and quarter-on-quarter. Notably, Melco gained 1.3 percentage points of Macau gross gaming revenue market share during the quarter [5]. This market share gain is particularly significant in a competitive six-operator market.