Actionable news
All posts from Actionable news
Actionable news in MPEL: Melco Crown Entertainment Limited,

One Reason Melco Crown Entertainment (MPEL) Stock is Falling Today

NEW YORK (TheStreet) -- Shares of Melco Crown Entertainment (MPEL - Get Report) are lower by 7.3% to $15.51 on Thursday morning, as some stocks within the casino and gaming sector take a hit from Las Vegas Sands' (LVS) decline in profit.

Las Vegas Sands reported 2016 first quarter profit of $320.2 million, or 40 cents per share, below the $511.9 million, or 64 cents per share it reported for the 2015 first quarter. Adjusted earnings slumped to 45 cents from 66 cents per share, below the 63 cents per share analysts had forecast.

Casino operators with operations in China's Macau gaming hub, such as Las Vegas Sands and Melco Crown, have been struggling in that market due to an anticorruption crackdown by China's government.

Back by Popular Demand…“Confessions of a Street Addict” Get a FREE signed...