HK Stock Market Move | MELCO INT'L DEV(00200) rose more than 5%, with adjusted EBITDA for the first quarter of its subsidiary Studio City increasing by 14%. The company's market share continues to rise.

MELCO INT'L DEV (00200) rose more than 5%, and as of the time of writing, it was up 5.57% at 3.98 Hong Kong dollars, with a turnover of 40.6447 million Hong Kong dollars. On the news front, MELCO INT'L DEV recently announced the first quarter performance of its subsidiary Studio City Entertainment, with total operating revenue of 1.23 billion US dollars, an 11% year-on-year increase, mainly due to improvements in both gaming and non-gaming operations. Net income reached 32.5 million US dollars, up 113.8%. The adjusted property EBITDA for the quarter was 341 million US dollars, a 14.1% increase. CICC Research Report pointed out that based on the continuous increase in market share, the adjusted EBITDA forecast for MELCO INT'L DEV in 2025 and 2026 was raised by 2% to 14.01 billion Hong Kong dollars and 13.452 billion Hong Kong dollars, respectively. The CICC Research Report stated that management indicated that the company's market share in the Macau gaming market reached 15.7% in April 2025, with the high-end market segment driving performance growth; "The House of Dancing Water" premiered at Studio City Macau on May 7, 2025; the reinvestment rate in the Macau gaming industry has started to become more rational compared to a year ago, and management hopes the industry can maintain this trend; hotel bookings at Studio City Cyprus have increased; management expects Studio City Sri Lanka to open in August 2025; potential buyers for Studio City Manila have signed confidentiality agreements and are conducting due diligence.