Intraday data show MLCO stock price reacting positively to upward revisions in Macau’s visitation forecast. A sustained recovery in premium mass gaming segment could further underpin price stability. Overall, hotel investors are feeling positive about the market for 2024. In the US, many investors are eager to increase their investments in hotels. Melco Resorts & Entertainment ( NASDAQ:MLCO - Get Free Report ) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.14. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.20 billion. Melco Resorts & Entertainment had a negative return on equity of 18.47% and a net margin of 1.15%.The company's revenue was up 14.5% on a year-over-year basis. During the same period last year, the company earned $0.05 earnings per share. Sell-side analysts anticipate that Melco Resorts & Entertainment Limited will post 0.16 earnings per share for the current fiscal year. MLCO stock price’s near-term trajectory may hinge on upcoming Chinese holiday travel data, as previous years’ surges in visitation have translated directly into higher casino gaming volumes.