Melco Resorts & Entertainment Ltd (MLCO) Launches First Integrated Resort Hospital in Macau

Melco Resorts & Entertainment Ltd (NASDAQ:MLCO) is one of the most undervalued Hong Kong stocks to buy, according to analysts. On October 6, the company launched the world’s first and Macau’s only integrated resort Hospital in partnership with iRad, Hong Kong’s largest MRI diagnostic services provider.

Melco Resorts & Entertainment Ltd (MLCO) Launches First Integrated Resort Hospital in Macau

Credit: Park Hotels & Resorts

The hospital will feature MRI & CT facilities, world-class screening and diagnostic imaging, aesthetic medicine, longevity treatments, and medical concierge services. The iRad hospital will enhance the city’s tourism infrastructure by introducing a robust medical and wellness ecosystem.

Lawrence Ho, Chairman & CEO, Melco Resorts & Entertainment, said:

“By launching the world’s first and Macau’s only hospital with MRI & CT facilities within an integrated resort, we strive to contribute to the advancement of medical tourism in Macau. This project aligns with the SAR government’s ‘1+4’ economic diversification strategy, and we are thankful for the government’s support and guidance throughout the development process.”

By offering a cutting-edge medical tourism experience, the company hopes to attract regional and overseas visitors. It also hopes to encourage longer stays in its hotels and higher spending while attracting repeat and long-term guests.

Later, on October 14, JP Morgan analyst DS Kim reiterated a Buy rating on Melco Resorts & Entertainment Ltd (NASDAQ:MLCO) and cut the price target to $10.5 from $12.

Melco Resorts & Entertainment Ltd (NASDAQ:MLCO) develops, owns, and operates integrated resorts in Asia and Europe, featuring casinos, luxury hotels, dining, entertainment, and retail. It offers premium and mass-market gaming experiences, and also operates Mocha Clubs, providing electronic gaming in a cafe-style setting.

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Disclosure: None. This article is originally published at Insider Monkey.