Melco International to rake benefits from Philippines' rising gaming market
Its pipeline of fresh initiatives will remain strong, says analyst.
According to Maybank Kim Eng, it likes MID’s portfolio of leisure and entertainment companies, which has given the holding company handsome rewards.
Maybank noted that Melco Crown (6883 HK, Not Rated), its 34%-owned key associate, is making strategic investments in areas offering longterm growth, namely, the rising Philippine gaming market (Belle Grande in 2014), Studio City (in 2015) and City of Dreams (Phase 3 development in 2016).
It also added that this pipeline of new growth initiatives between now and 2016 will continue to drive performance and consequently stock price.