MPEL has been down and up this morning and trading flat and currently and up a penny Melco Crown Entertainment Announces Unaudited First Quarter 2016 Earnings and Declares Quarterly Dividend http://finance.yahoo.com/news/melco-crown-entertainment-announces-unaudited-121711735.html Melco Crown Entertainment Strike A Deal With Crown Asia Investments To Buy Back Shares http://finance.yahoo.com/news/melco-crown-entertainment-strike-deal-104006714.html
This a little better break down on earnings Melco Crown (MPEL) Q1 Earnings Beat Estimates Melco Crown Entertainment Limited (MPEL - Snapshot Report) operates casino gaming and entertainment resort facilities in Asia. In order to cash in on a fast growing Philippine economy and increased tourism, Melco Crown launched its long-awaited new integrated casino resort, City of Dreams Manila. It is a part of the company’s plans to have casinos across Asia. Meanwhile, Melco Crown earns a better part of its revenues from Macau, the only gambling destination in China. However, gambling revenues in Macau are currently slowing down due to anti-graft corruption drive undertaken by the Chinese government. China's crackdown on illegal money transfers; credit growth issues and tighter restrictions on visas have had a negative impact on revenues in this region. The weakening of yuan further dent Macau’s gambling revenues as it gets more expensive for Chinese gamblers to place bets. Also, slowdown in the Chinese economy is hurting the mass market segment. Investors should also note that the earnings estimates for MPEL have remained stable over the past 30 days. Meanwhile, MPEL has a poor history in earnings season. Melco Crown has missed earnings results in two of the last four quarters, making for an average negative surprise of 12.12%. Currently, MPEL has a Zacks Rank #3 (Hold) but that could change following Melco Crown’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below: Earnings: MPEL beats on adjusted earnings. Our consensus earnings estimate called for EPS of 5 cents per share, and the company reported adjusted earnings per share of 7 cents instead. Investors should note that these figures take out stock option expenses. Revenues: MPEL reported revenues of $1.10 billion. This missed our consensus estimate of $1.23 billion. Key Stats to Note: Adjusted Property EBITDA was $248.8 million, down 2% year over year due to lower contribution from the group-wide rolling chip segment, partially offset by the contribution from the newly launched Studio City and the City of Dreams Manila. http://www.zacks.com/stock/news/216162/melco-crown-mpel-q1-earnings-beat-estimates
Casino race in Cyprus may be down to Larnaca and Limassol The competition is heightening among the large property owners in Cyprus as the three contenders for the sole casino license on the eastern Mediterranean island prepare to choose the location for their investment. Cyprus Weekly was told by an inside source that, “Two of the bidders are holding talks with large property owners in Larnaca and one in Limassol.” The Church of Cyprus and almost all of the big developers comprise the island’s large property owners. The preferred bidders were announced in March 2015 and consist of Philippine casino developer, Bloomberry Resorts Corporation; NagaCorp Ltd., the Hong Kong stock exchange listed Cambodian casino operator; and Melco/Hard Rock Resort Cyprus Consortium, a venture of Macau’s Lawrence Ho and the U.S. based Hard Rock International. According to their initial bid, Limassol was chosen by the Melco/Hard Rock Resort Cyprus Consortium and Larnaca was NagaCorp Ltd’s choice. And while Bloomberry Resorts Corporation decided not to specify a location, last year when the final three contenders for the license were announced local sources indicated that Bloomberry was eyeing Paphos. More: https://news.worldcasinodirectory.c...rus-may-be-down-to-larnaca-and-limassol-26724
MELCO CROWN ENTERTAINMENT LTD (MPEL) EARNS “OUTPERFORM” RATING FROM SANFORD C. BERNSTEIN http://www.lmkat.com/2016-06-08-mel...s-outperform-rating-from-sanford-c-bernstein/ With markets red MPEL starting to go positive on rating
Melco Crown Entertainment (MPEL) Stock Rising on Spinoff Shares of Melco Crown Entertainment (MPEL) are climbing as Crown Resorts spins off its assets in the company's Macau casino NEW YORK (TheStreet) -- Shares of Melco Crown Entertainment (MPEL) are higher by 2.07% to $13.81 on Wednesday morning, as Crown Resorts plans to spin off all of its international investments from its Australian assets, which includes a $2 billion stake in the Hong Kong-based operator of Macau casinos, Bloomberg reports. The spinoff comes as controlling shareholder James Packer seeks to protect his Australian assets from a downturn in Chinese gambling. Nasdaq-listed Melco has fallen 6% from its 2013 highs, as gambling in Macau continues to slow due to government curbs on illicit money flows and a recent anti-corruption campaign, according to Bloomberg. In May, Crown sold an $800 million stake in Melco due to the gambling downturn at Macau. https://www.thestreet.com/story/136...rising-on-spinoff.html?puc=yahoo&cm_ven=YAHOO
Thanks Gil, it was up over 7% until the Fed sunk the market. The analyst's are split on June but if Macau does beat on YOY (even if less bad) we could see significant gains for MPEL, WYNN, LVS, and MGM
For the last few weeks I have let myself stop out on 25% of my MPEL position and funneling the funds into MGM. With that I think MPEL has much potential on a future Macau rebound and the upcoming Casino in Cypress with Hardrock as a partner. I will probably buy back the shares when the market see's it as I do.
Slightly down on WYNN's downgrade Melco Crown draws bulls before earnings Melco Crown Entertainment is seeing upside option activity ahead of quarterly results expected early next month. optionMONSTER's tracking program detected the purchase of 2,000 Weekly 13 calls expiring on Aug. 5 for $0.37 to $0.39. Volume was more than 21 times open interest at the strike, which indicates new money was put to work. http://finance.yahoo.com/news/melco-crown-draws-bulls-earnings-163729580.html
Bulls place more bets on Melco Crown Melco Crown Entertainment is drawing upside option activity for the second time this week. optionMONSTER's tracking program detected the purchase of 11,900 January 16 calls for $0.55 in the last half-hour of trading yesterday. This represents new positions, as open interest in the http://finance.yahoo.com/news/bulls-place-more-bets-melco-121454320.html
Looks like all those bullish calls are on the right track. Currently MPEL leads the gaming sector as the broader markets are down
Im liking MPEL weekly chart - sort of double bottom. At current level seems a low risk bet; you will know easily when this trade will became no longer valid.
Melco Crown Entertainment Ltd. (MPEL) Lifted to “Buy” at Zacks Investment Research Melco Crown Entertainment Ltd. (NASDAQ:MPEL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $14.00 target price on the stock. Zacks Investment Research’s price objective indicates a potential upside of 11.55% from the company’s current price. http://baseballnewssource.com/marke...ed-to-buy-at-zacks-investment-research/39740/
That may just happen Rg. Besides LVS up 4.5% in AH after weak earnings there have been some sizable $13 call placed on MPEL. As MPEL led MGM today I think there is something going on in Macau Short-term wagers placed on Melco Crown Melco Crown Entertainment has fallen sharply in recent months, but traders are looking for a bounce by the end of next week. optionMONSTER's monitoring system detected the purchase of 5,000 Weekly 13 calls expiring on Aug. 5 for $0.35 to $0.41. Volume surpassed open interest of 1,860 contracts, an indication new money was put to work Short-term wagers placed on Melco Crown
Out of all the big casino stocks, MPEL is the only showing green as the DOW and SP are down. This is another good sign with earnings on tap on August 4th
