Motley Fool  Oct 9  Comment 
Wall Street is extremely bullish on Melco Crown, and here's why.
Benzinga  Oct 3  Comment 
Melco Crown Entertainment Ltd (NASDAQ: MPEL) was downgraded from Overweight to Equal-weight by Morgan Stanley Friday. The firm issued a $28 price target for the casino developer and operator. Morgan Stanley reported that key value drivers...
Motley Fool  Sep 30  Comment 
The Macau casino specialist has finally hit tough times, but will it recover?
Market Intelligence Center  Sep 30  Comment 
After closing Monday at $25.73, Melco Crown Entertainment Ltd (MPEL) presents an attractive opportunity to get a 6.61% return in just 109 days, which is an annualized return of 22.15% (for comparison purposes only). To enter this trade, sell one...
TheStreet.com  Sep 26  Comment 
NEW YORK (TheStreet) --Shares of Melco Crown Entertainment Ltd. are higher by 2.03% to $26.64 in mid morning trading on Friday, as Macau based casino stocks get a boost from CEO Sheldon Adelson of Las Vegas Sands' comments that the Chinese...
Market Intelligence Center  Sep 24  Comment 
Melco Crown Entertainment Ltd (MPEL) presents a trading opportunity that offers a 7.39% return in just 115 days. A covered call on Melco PBL Entertainment Macau at the $26.00 level expiring on Jan. '15 offers an assigned return rate of 7.39% or...
Motley Fool  Aug 27  Comment 
While other companies look to growth in Las Vegas, Melco Crown looks for growth in Macau, the Philippines, Russia, and Japan.
Benzinga  Aug 26  Comment 
Morgan Stanley upgraded Melco Crown Entertainment (NASDAQ: MPEL) on Tuesday morning. In a note highlighting the recent decline in appeal coming from the Macau gaming sector, Morgan Stanley raised Melco Crown from Equal-weight to Overweight....
Benzinga  Aug 26  Comment 
StreetInsider.com  Aug 26  Comment 
UPGRADES UBS upgrades Arcelor Mittal (NYSE: MT) from Sell to Buy. Jefferies moves InterMune Inc. (Nasdaq: ITMN) from Underperform to Hold and adjusts its price target from $25 up to $74. Click Here for more color. Morgan Stanley lifts Melco...
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...


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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