QUOTE AND NEWS
SeekingAlpha  Aug 18  Comment 
By Jason Meissner: Background Melco Crown Entertainment (NASDAQ:MPEL) is a casino company operating in Macau, China and soon in Manila, Philippines. It was formed in 2006 by Melco and Crown Resorts. MPEL has had a presence in Macau since 2008...
Market Intelligence Center  Aug 15  Comment 
The patented option-trade picking algorithms that power MarketIntelligenceCenter.com's Artificial Intelligence Center  are highlighting two trades on Melco Crown Entertainment Ltd (MPEL) today after it closed at $29.78 on Thursday. For more...
SeekingAlpha  Aug 13  Comment 
By Zacks Investment Research: The Macau gaming scene has seen a slow decline this year due to various factors affecting tourism and the Chinese economy. And this drop was mirrored in the shares of casino stocks like Wynn Resorts (NASDAQ:WYNN),...
The Australian  Aug 8  Comment 
THE Macau joint venture between Crown and Lawrence Ho, Melco Crown, has unveiled a slide in second-quarter profit.
Benzinga  Aug 7  Comment 
Following Melco Crown Entertainment's (NASDAQ: MPEL) second quarter earnings miss Thursday morning, stocks across the casino sector have taken a hit. However, if you were to ask the team at Craig-Hallum, they might suggest buying the dip, at...
TheStreet.com  Aug 7  Comment 
NEW YORK (TheStreet) -- Melco Crown Entertainment fell Thursday after the company reported second-quarter results that missed analysts' expectations and announced prosecutors had indicted its Taiwan office. The company's net income declined 20%...
Benzinga  Aug 7  Comment 
Melco Crown Entertainment Ltd. (NASDAQ: MPEL) missed second-quarter Street views Thursday and disclosed that Taipei prosecutors have indicted its Taiwan office and certain employees there for allegedly violating banking and foreign exchange...
Benzinga  Aug 7  Comment 
Thoratec (NASDAQ: THOR) fell 26.01% to $24.10 in pre-market trading after the company reported downbeat second-quarter sales and issued a disappointing 2014 earnings outlook.. PhotoMedex (NASDAQ: PHMD) shares declined 5.91% to $10.18 in...
TheStreet.com  Aug 6  Comment 
NEW YORK (TheStreet) -- Shares of Melco Crown Entertainment Ltd  closed down -5.64% to $30.02 today following a casino revenue decline of -3.6% in June on an annual basis in the Macau region.The decline was its first in more than four years...




 
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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