QUOTE AND NEWS
TheStreet.com  Apr 9  Comment 
NEW YORK (TheStreet) -- Shares of Melco Crown Entertainment Ltd.  may move higher today after the company said it was prepared to invest $5 billion to open a casino in Japan if the country were to lift its ban on casinos, CEO Lawrence Ho told...
newratings.com  Apr 9  Comment 
HONG KONG (dpa-AFX) - Macau gaming company Melco Crown Entertainment Ltd (MPEL) is in partnership talks with several Japanese companies and plans to open a casino in the country with an investment of at least $5 billion, Nikkei reported. Melco...
Reuters  Apr 8  Comment 
Melco Crown Entertainment will invest at least $5 billion to open a casino in Japan if the country lifts its ban on gambling resorts, The Nikkei said, citing an interview with the...
TheStreet.com  Apr 7  Comment 
NEW YORK (TheStreet) -- Shares of Melco Crown Entertainment Ltd. are down 4.5% to $35.50 after an early check on casino revenue growth by Wells Fargo suggests revenue growth for Macau Gaming for April is in the low to mid-teens. As a result,...
The Australian  Apr 2  Comment 
SHARES in the James Packer-backed Melco Crown Entertainment jumped to their highest level in two months overnight as Macau gaming revenues rose.
TheStreet.com  Apr 1  Comment 
NEW YORK (TheStreet) -- Melco Crown Entertainment Ltd. shares were up 4.8% to $40.49 in trading Tuesday. The jump follows an announcement that the company plans to hire up to 5,000 employees for its sprawling casino resort City of Dreams Manila...
newratings.com  Mar 24  Comment 
HONG KONG (dpa-AFX) - Melco Crown Entertainment Ltd. (MPEL) posted a rise in annual net income attributable to the company to $637.5 million, or $0.383 per share, from $417.2 million, or $0.252 per share, last year. Net revenues for the year 2013...
Benzinga  Feb 25  Comment 
Melco Crown Entertainment Limited (SEHK:6883) (Nasdaq: MPEL) ("Melco Crown Entertainment" or the "Company"), a developer and owner of casino gaming and entertainment resort facilities in Asia, today announced that at a meeting of the Board held on...
StreetInsider.com  Feb 25  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Dividends/Melco+Crown+%28MPEL%29+Declares+%240.3441+Special+Dividend%3B+0.8%25+Yield/9212176.html for the full story.




 
TOP CONTRIBUTORS

Melco-PBL Entertainment (NASDAQ: MPEL) develops, owns and operates casinos in Macau, China. It is the only pure-play Macau casino traded on U.S. exchanges, and one of only six companies authorized to run casinos on the island (others include MGM, Wynn and Las Vegas Sands). MPEL owns and operates the Crown Macau Hotel Casino. MPEL draws day-trippers and tourists of all economic background with its various gambling establishments due to its strategic proximity to China and other fast-growing Asian economies.

Business Overview

The great majority of MPEL’s revenue is generated from its casinos. Income from other sources, including rooms, food and entertainment remains insignificant.[1] It is also important to note that MPEL’s only source of income is from Macau.[2]

Business & Financial Metrics[3]

In 2009, MPEL incurred a net loss of $308.5 million on revenues of $1.33 billion. This represents a significant increase in net loss from 2008, when the company lost $2.5 million on $1.42 billion in revenue.

Key Trends & Forces

  • Chinese Tourism: The Chinese government has eased its regulations on travel permits to Macau in recent years. This phenomenon, along with a rapid increase of wealth and disposable income of Chinese citizens , will significantly fuel Macau’s gaming industry. This trend will also be affected by the ease of currency exchange between the Chinese Yuan and the Hong Kong dollar used in Macau.[5]

Competition

MPEL holds one of only 6 authorizations to operate casinos in Macau, a privilege that serves as a significant competitive barrier against other potential market participants. Nevertheless, MPEL’s operations compete with 25 other casinos in the city. In addition, the government of Macau may allow other companies to enter the market in the future, further intensifying competition. [6]

  • Las Vegas Sands (LVS): This company owns and operates The Sands Macao. It is also developing The Venetian Macau.
  • Wynn Resorts (WYNN): Since the opening of Wynn Macau in 2006, this company has actively pursued additional opportunities, and is currently building another large resort casino.
  • MGM MIRAGE (MGM): This company opened the MGM Grand Macau in late 2007. However, like most of American companies operating in Macau, MGM operates primarily in Las Vegas, Nevada.
  • Sociedade de Turismo e Diversoes de Macau: One of the most prominent companies in Macau, This company controls 18 casinos in the city, most prominent of which is the Grand Lisboa.
  • Galaxy Casinos: Similar to MPEL, this company currently operates five casinos and is in the process of developing three more on the Cotai Strip.

References

  1. 2007 MPEL 6-k, Pg. 13
  2. 2006 MPEL 20-f, Pg. 25
  3. MPEL 2009 20-F pg. 3  
  4. "Tiny Macau Overtakes Vegas Strip", BBC News
  5. 2006 MPEL 20-f, Pg. 26
  6. 2006 MPEL 20-f, Pg. 20
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