Melco International profit up post Melco Crown control Melco International Development Ltd, controlled by gaming entrepreneur Lawrence Ho Yau Lung (pictured), reported on Wednesday a net profit of HKD10.37 billion (US$1.34 billion) for the first half of 2016. That compares to a net profit of HKD111.1 million in the prior-year period, the company said in a filing to the Hong Kong Stock Exchange. The company said the strong profit growth was mainly due to a special gain as a result of having taken control of Asian casino developer Melco Crown Entertainment Ltd. http://www.ggrasia.com/melco-int-profit-up-post-melco-crown-control/
:Now I see why MPEL ran hard today Packer left the party too early even though he is still has a smaller stake in the company Macau On The Cusp Of Mass Recovery, Says Long-Time Bear Deutsche Deutsche Bank‘s Karen Tang has been a Macau skeptic for as long as this blogger can remember. But she changed her mind today, upgrading Sands China (1928.Hong Kong), MGM China (2282.Hong Kong) and Melco Crown (MPEL) to buy. http://blogs.barrons.com/asiastocks...time-bear-deutsche/?mod=yahoobarrons&ru=yahoo
Looking strong during broader market meltdown Melco Crown Entertainment Ltd. (NASDAQ: MPEL) was raised to Buy from Hold and the price target was raised to $17 from $14 (versus a $15.17 close) at Deutsche Bank. The 52-week range is $11.91 to $20.23. http://247wallst.com/investing/2016...ar-randgold-silver-wheaton-verifone-and-more/
MPEL was my sole winner today and I think a 5% pop would have been in order if the markets did not fall off a cliff. Anyone else playing this?
MGM is one of my long term holds > I like MPEL quite a bit and another that I am actively tracking for entry is PENN
Same here I am long MGM. If Macau does as good as the analyst's think, MGM could get a nice boost when they open their new casino in Macau next year. Looks like the Friday's market meltdown pushed PENN near or at a buy. I might look into to some calls.
After giving back some of the gains this morning, MPEL has broke the 15.70 resistance and nearing the upper BB
PENN w/ ugly candle today. On the oposite side I was looking at weekly chart from MPEL and is indeed tempting.
With no news, MPEL getting a nice pop this morning with markets down and most of the gaming stocks down
Considering the markets worsening on Friday a decent close for MPEL on some promising Macau numbers Macau’s mainland overnighters exceed day type in Aug The total number of overnight visitors to Macau in August grew by 3.7 percent year-on-year to just under 1.48 million, which the statistics service said was the highest single-month figure since January 2008. The number of same-day visitors dropped by 12.6 percent year-on-year to 1,405,647. The average length of stay of all types of visitor during August increased by 0.1 day judged year-on-year, to 1.2 days. The average stay of overnight visitors and same-day visitors was 2.1 days and 0.2 day respectively. Overnight visitors to the city typically spend more than same-day ones, surveys have shown. And a number of investment analysts have recently said they see encouraging signs of improvement in terms of the quality of Macau visitors. More: http://www.ggrasia.com/category/latest-news/macau/
As the numbers are getting better out of Macau, MPEL leads the gaming sector this morning. It is too early to tell, but if GGR keeps climbing, $20 will not be out of the question in the mid-term for MPEL
