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Melco Crown Entertainment Limited

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MPEL.O

ISIN: US5854641009
SEDOL: B1KYHF2

Rating:

HOLD

Target Price:

6.17 USD

Investment Horizon:

6 to 24 months
21st May 2009 View Report   Download

1Q 09 News Alert

Melco Crown Entertainment Ltd. (Melco) recorded a significant deterioration in net revenues and operating performance in 1Q 09. However, although net revenues fell short, earnings beat our expectations. City of Dreams remains scheduled to open on 01 June 2009. In view of lower-thananticipated revenues and given the current price level, we are downgrading our rating for the ADR from a BUY to a HOLD. We will reassess the ADR1 rating for Melco in our next full update report....

8th May 2009 View Report   Download

4Q 08 & FY 2008 Update Report

In the context of economic downturn, the gaming sector in Macau has been beset by declining visitor numbers and gaming revenues. Coupled with the financial crunch, this has stalled the construction of a number of new projects in the sector. Melco too had faced the brunt of strict Chinese visa regulations and economic downturn, experiencing a q-o-q drop in its high-end rolling chip volume in 4Q 08....

14th Apr 2009 View Report   Download

Company News Alert

Melco Crown Entertainment Limited’s (Melco) ADR1 achieved our target price on 09 April 2009 after a significant price appreciation. This rise in ADR price reflects the general revival in market confidence and a slowdown in decline of Melco’s monthly casino revenues. Following the price appreciation and given limited visibility of gaming…

25th Feb 2009 View Report   Download

4Q 08 & FY 2008 News Alert

Melco Crown Entertainment Ltd. (Melco) recorded significant growth in net revenues and experienced an improved operating performance in 4Q 08. Although net revenues fell short, earnings beat our expectations in 4Q 08. The Melco ADR rocketed 31.2% in a single trading session on 24 February 2009 following its narrowed net loss in the quarter. In view of the better-than-expected 4Q 08 operating performance and in anticipation of the launch of the City of Dreams project on…

2nd Feb 2009 View Report   Download

Company News Alert

CLICK VIEW REPORT TO READ FREE REPORT

Melco Crown Entertainment Limited’s (Melco) ADR price has declined significantly since our previous update report dated 23 December 2008. The gaming industry in Macau has witnessed a severe slowdown in revenues in 4Q 08 as a result of dampened consumer spending and tightening of Chinese visa restrictions. However, despite the global credit market turmoil, which has affected the funding of new projects in Macau, Melco is on track…