Melco Resorts & Entertainment

MLCO

Melco Resorts & Entertainment Limited is a developer, owner and operator of integrated resorts with entertainment and casino gaming facilities in Asia and Europe. Based in Hong Kong, the company is listed on the NASDAQ. Originally known as Melco Crown Entertainment (Melco Crown or MPEL), Melco Resorts was founded in 2004 as a joint venture between Melco International and Crown Limited. Melco Crown became Melco Resorts & Entertainment in May 2017 and currently operates as a subsidiary of Melco International. Melco Resorts owns a number of integrated casino resorts, having launched Altira Macau in 2007, City of Dreams Macau in 2009, City of Dreams Manila in 2015, and Studio City Macau in 2015. It also operates the Mocha Clubs slot machine brand and is in the process of constructing the City of Dreams Mediterranean resort in Cyprus, which will be the largest casino-resort in Europe. Other projects under construction include an onsen spa and a ski resort in Japan.

Melco Resorts & Entertainment has been a target of short sellers for a while. The current short interest of 1.59% is roughly at the average of the last 12 months (1.45%).