Actionable news
0
All posts from Actionable news
Actionable news in MPEL: Melco Crown Entertainment Limited,

Melco Crown (MPEL) Stock Spikes on Macau Gaming Growth

NEW YORK (TheStreet) -- Shares of Melco Crown Entertainment (MPEL) were jumping 7.17% to $13.91 in early-afternoon trading on Thursday after Macau gaming posted its first growth in more than two years.

In August, gross gaming revenue at Macau increased 1.1% to $2.4 billion, which beat analysts' estimates for a drop of 1.5%.

This comes after the opening of Wynn Resorts' (WYNN) $4 billion Wynn Macau resort in the southern Chinese territory, Reuters reports.

Additionally, gambling revenue came in at 18.8 billion patacas ($2.4 billion) last month, according to...


More