Rochester,NY 7/11/2009 10:35:17 PM
Week End Stock Report - MPEL - Las Vegas Sands Talks Up Macau Deals - Sourced WhisperFromWallStreet.com
Melco Crown Entertainment Ltd.
Week End Stock Report - MPEL - Las Vegas Sands Talks Up Macau Deals - Sourced WhisperFromWallStreet.com
Melco Crown Entertainment Ltd. MPEL
When I read about a possible IPO of Las Vegas Sands' (NYSE: LVS) Macau operation, I couldn't help but think of The Producers, the 1968 Mel Brooks film and, later, a Broadway musical.
In the Mel Brooks incarnation, a theater producer named Max Bialystock tries to make money by creating a flop. Las Vegas Sands chairman and CEO Sheldon Adelson is trying to avoid a balance-sheet flop by raising funds and/or selling assets. Bialystock sold more than 100% of the shares in his theater production, which he expected to fail. Adelson isn't selling that much; he wants his production to succeed.
Last Trade: 4.24
Day's Range: 4.15 - 4.31
52wk Range: 2.27 - 7.99
Volume: 2,131,022
ABOUT - Melco Crown Entertainment Ltd.
Melco Crown Entertainment Limited, through its subsidiaries, engages in the development, ownership, and operation of casino gaming and entertainment resort facilities in Macau. The company owns and operates Crown Macau resort that features a casino area of approximately 183,000 square feet with approximately 255 gaming tables and 95 gaming machines, as well as hotel rooms, fine dining and casual restaurants, recreation and leisure facilities, and meeting facilities; Mocha Clubs, which provide single player machines with various games, including progressive jackpots; and multi-player games where players on linked machines play against each other in electronic roulette, baccarat, and sicbo. As of March 9, 2009, the company operated 8 Mocha Clubs in Macau with a total of approximately 1,345 gaming machines. In addition, it owns and operates Taipa Square Casino with approximately 18,300 sq. ft. of gaming space and features approximately 31 gaming tables servicing rolling chip and mass market patrons.
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