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Melco Crown Entertainment (MPEL) Stock Gains Despite Q2 Revenue Miss

NEW YORK (TheStreet) -- Shares of Melco Crown Entertainment (MPEL) were up in pre-market trading on Thursday despite reporting weaker-than-expected revenue for the 2016 second quarter.

Before the market open, the Hong Kong-based casino operator reported revenue that rose 17% year-over-year to $1.07 billion but fell short of analysts' projections of $1.09 billion.

Diluted earnings of 6 cents per ADS met analysts' estimates.

"Macau continues to face challenges in gaming demand," CEO Lawrence Ho said in a statement.

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