DALLAS, June 29, 2011 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces a stock report featuring Melco Crown Entertainment Ltd. (ADR) (Nasdaq:MPEL). The report briefly notes the company's most recent developments and news, and outlines its financial position, market performance, and comparison against industry peers.
The full report is available at: www.microstockprofit.com/lp/MPEL
Melco Crown Entertainment Ltd. (MPEL) develops, owns and, through its subsidiary Melco Crown Gaming, operates casino gaming and entertainment casino resort facilities. Melco Crown Gaming is one of the six companies licensed, through concessions or sub-concessions, to operate casinos in Macau. MPEL currently operates Altira Macau (formerly Crown Macau), a casino hotel located at Taipa, Macau and City of Dreams, an integrated urban casino resort located in Cotai, Macau. The Company's business also includes the Mocha Clubs.
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In the report, the analyst notes:
"MPEL shares gained after the Macau casino operator announced its acquisition of a majority stake in the developer of Macau Studio City project almost two weeks ago. Sterne Agee & Leach analyst David Bain, who kept a Buy rating and $17.85 price target on MPEL stock, said it was good move for the Company because Macau Studio City has the best location on the Cotai Strip."
"MPEL reported net revenue of $806.6 million for the first quarter of 2011, up 42% from the same period last year. The Company attributed the increase to several factors, including the continuing ramp up of the rolling chip, mass market and hotel operations at City of Dreams, contribution from The House of Dancing Water and substantial improvement in Altira Macau's rolling chip volume."
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