Benzinga  Sep 23  Comment 
Diana Containerships Inc (NASDAQ: DCIX) shares touched a new 52-week low of $1.39. Diana Containerships' trailing-twelve-month ROE is 1.28 percent. Helmerich & Payne, Inc. (NYSE: HP) shares declined 1.27 percent to reach a new 52-week low of...
Market Intelligence Center  Sep 16  Comment 
Melco Crown Entertainment Ltd (MPEL) is a good candidate for a covered call at the $16.00 level. The Apr. '16 call at that price should fetch a credit of about $3.10, which means the entire position has a net debit of about $14.23. This trade has...
TheStreet.com  Sep 1  Comment 
NEW YORK (TheStreet) --Shares of Melco Crown Entertainment finished the day down by 3.97% to $16.92 on strong trading volume on Tuesday afternoon, as casino stocks struggled from the latest revenue results out of China's Macau gambling...
Market Intelligence Center  Aug 25  Comment 
After Monday’s trading in Melco Crown Entertainment Ltd (MPEL) the algorithms behind MarketIntelligenceCenter.com's Artifical Intelligence Center picked out a trade that offers a 7.67% or 19.58% (for comparison purposes only), while providing...
Benzinga  Aug 12  Comment 
In a report issued Wednesday, Deutsche Bank analyst Karen Tang reiterated a Sell rating and $20.00 price target on shares of Melco Crown Entertainment Ltd (ADR) (NASDAQ: MPEL). The rating and price target come after the company announced that...
TheStreet.com  Aug 12  Comment 
NEW YORK (TheStreet) -- Shares of Melco Crown Entertainment  are lower by 7.09% to $21.35 in early afternoon trading on Wednesday, as revenue in China's Macau gaming hub is off to a slow start in August. For the first nine days of the month...
Benzinga  Aug 12  Comment 
Studio City International Holdings Limited, a joint venture in which Melco Crown Entertainment Limited (Nasdaq: MPEL) owns a 60% interest issued the following press release today: Studio City International Holdings Limited announced today that...
The Australian  Aug 12  Comment 
Moelis “to assist with contingency planning” ahead of a decision on the number of gaming tables to be allocated to Melco’s Studio City.
Motley Fool  Aug 9  Comment 
Table games could make or break Melco Crown's latest project in Macau.
Benzinga  Aug 6  Comment 
Despite the fact that Macau casino operator Melco Crown Entertainment Ltd (NASDAQ: MPEL) reported a Q2 earnings and revenue miss this week, the company’s stock has been on fire, gaining about 7.0 percent over the last five trading...


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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