Melco Resorts Stock's Big Boost From China's Stimulus Plans
Melco Resorts & Entertainment(MLCO) The Motley Fool·2024-09-27 04:29
Macao looks poised to benefit.Shares of gambling company Melco Resorts & Entertainment (MLCO 15.93%) jumped as much as 17% in trading on Thursday after news broke that China's political leadership, known as the Politburo, said it would provide "necessary fiscal spending" to meet 5% GDP growth targets. Investors think that could mean more visits to gambling hub Macao, a special administrative region of China, which would help a still-recovering gambling industry. Melco's shares closed the day up roughly 16%. ...