Melco jumps as H1 returns to profit, Macau gambling revenue rise

About this update from Melco International Development Limited

** Shares of Melco International Development HKEX:200 jump 20.1% to HK$6.4, their highest level since May 2023, leading rise in Hong Kong-listed Macau gaming stocks** Melco stock on track for the biggest one-day pct rise since May 16, if gains hold** Melco said on Friday its H1 net profit amounted to HK$350.8 mln ($44.91 mln), as compared to net loss of HK$253.2 mln the same period a year ago, with net revenue up 12.4% y/y to HK$19.96 bln** Macau said on Monday its August gambling revenue up 12.2% y/y to 22.2 bln patacas ($2.76 bln)** Shares of Macau gaming shares climb with Galaxy HKEX:27, Wynn Macau HKEX:1128, SJM HKEX:880, MGM China HKEX:2282 up between 0.2% and 0.7%, while Sands China HKEX:1928 slips 0.4%** Hang Seng Commerce & Industry Index HSI:HSCI surges 3.1%, benchmark Hang Seng Index HSI:HSI rises 2.1%** YTD, Melco shares up 85.3%, Galaxy rose 24.6%, Wynn Macau surged 33.4%, SJM climbed 8.6%, MGM China jumped 61%, while Sand China down 3.2%($1 = 7.8113 Hong Kong dollars)($1 = 8.0460 patacas)

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