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According to a Melco press release, 130 staff members were made redundant and 51 employees on probation did not have their contracts extended.
Source: https://cyprus-mail.com/2023/11/20/melco-casino-in-limassol-fires-181-citing-war-in-israel/
According to MarketBeat, Melco Resorts & Entertainment currently has an average rating of “Moderate Buy” and a consensus price target of $14.
California State Teachers Retirement System’s holdings in Melco Resorts & Entertainment were worth $2,863,000 at the end of the most recent quarter.
Credit Suisse Group raised shares of Melco Resorts & Entertainment from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $14.00 to $18.20 in a report on Tuesday, June 20th.
Cubist Systematic Strategies LLC lifted its stake in Melco Resorts & Entertainment Limited () by 79.5% during the 3rd quarter, reports.
Melco added that beyond its legal requirements, it would “offer impacted colleagues additional ex-gratia packages which are beyond the legal minimum and above industry practices”.
Source: https://cyprus-mail.com/2023/11/20/melco-casino-in-limassol-fires-181-citing-war-in-israel/
Mr. Lawrence Ho, Chairman and Chief Executive Officer of Melco said, “We are honored and thankful to be awarded a ten-year gaming Concession by the Macau SAR government.
Sell-side analysts forecast that Melco Resorts & Entertainment Limited will post 0.03 earnings per share for the current fiscal year.