[ET Net News Agency, 15 January 2020] Goldman Sachs lifted its target price for Melco
International Development (00200) to HK$27.6 from HK$22 and maintained its "buy" rating.
The research house sees upside to Macau's mass-market GGR especially in Cotai as the
launch of Light Rail Transit (LRT) last December and the scheduled completion of the
high-speed rail extension to Hengqin Island by mid-2020 will likely draw more inbound
visitation via the Lotus bridge border gate and accelerate GGR shift from Peninsula to
Cotai. Among the six Macau operators, MLCO (Melco Resorts & Entertainment) has high
exposure in Cotai contributing 100% of group EBITDA in 2019. (KL)