The Australian  Jul 22  Comment 
JAMES Packer’s Melco Crown joint venture is broadening the focus of its push to secure a lucrative gaming licence in Japan.
Motley Fool  Jul 19  Comment 
Following a few quarters of great profits, investors have taken notice of Melco Crown and its share price has increased. Has it become overvalued, or does plenty of growth remain to cover this bet on Asian gaming?
Benzinga  Jul 17  Comment 
Las Vegas Sands' (NYSE: LVS) big miss early sent competitors' shares reeling in Thursday's pre-market trading. Sands' slower-than-expected revenue growth from Macau operations resulted in second-quarter adjusted earnings that were $0.04 below...
Market Intelligence Center  Jul 17  Comment 
After closing Wednesday at $33.04, Melco Crown Entertainment Ltd (MPEL) presents an attractive opportunity to get a 7.18% return in just 93 days, which is an annualized return of 28.17% (for comparison purposes only). To enter this trade, sell one...
Motley Fool  Jul 14  Comment 
Las Vegas Sands and Melco Crown have each posted incredible revenue for 2013 and the first quarter of 2014. Each company will jump in this year and the next as well, but if you have to choose one, which company is your best bet now?
Market Intelligence Center  Jul 14  Comment 
Last week, share price of Isle of Capri Casinos, Inc. (ISLE) plunged after the company announced a few changes in management. Further, Pinnacle Entertainment Inc. (PNK) provided an estimate for its consolidated adjusted EBITDA and income from...
Motley Fool  Jul 13  Comment 
They say the house always wins -- and casino operators Melco Crown, Las Vegas Sands, and Wynn Resorts look well positioned to continue winning over the long term.
Market Intelligence Center  Jul 10  Comment 
A covered call identified by MarketIntelligececenter.com's patented algorithms on Melco Crown Entertainment Ltd (MPEL) could yield about 8.97% (32.73% annualized, for comparison purposes only) in 100 days. Pair a long position in the stock with...
Motley Fool  Jul 8  Comment 
Wal-Mart finishes as the Dow's top performer on a day where 27 of 30 blue chips declined
TheStreet.com  Jul 8  Comment 
NEW YORK (TheStreet) -- Shares of Melco Crown Entertainment LTD  are lower as Macau is facing competition from other countries, and seeing fewer high-stakes gamblers, amid a cooling Chinese economy, Bloomberg said.Melco Crown currently operates...


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]


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.


  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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