Where Will Melco Resorts Stock Be In 5 Years?
Shares of Melco Resorts (NASDAQ: MLCO) are 76% off their all-time high despite a massive bounce the last few weeks. Few companies have been affected by the pandemic more than Melco Resorts, which relies on the Chinese administrative region of Macao for the majority of its revenue.
But the tides may be turning for Melco as China's economy slowly opens up and travel begins to pick up around what was recently the world's largest gambling market. In five years, this could be a very different company than it is today.
In 2019, Melco Resorts generated $1.7 billion in adjusted EBITDA, a proxy for cash flow from a resort or casino. But early in 2020, the company's properties shut down because of COVID-19, and even when they opened again they weren't the same.
Source Fool.com
