Trouble in Taiwan weighs on Melco Crown


The Taipei District Prosecutors Office indictment against Melco Crown (NASDAQ:MPEL) accuses the company of funneling hundreds of millions of dollars between its properties in Macau and Taiwan on behalf of high-rollers against local regulations, according to the Sydney Morning Herald.

Four present or former Melco Crown employees have been charged.

The big picture: Crackdown on money transfers in China could pressure growth in the VIP segment as junkets become harder to finance.

MPEL -1.7% premarket after falling 7.2% late last week.

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Comments (1)
  • NYer1
    , contributor
    Comments (2812) | Send Message
     
    Oops..another reason why growth will be slowing (or maybe contraction is coming)
    Any strength should be used to sell into (or short) IMO
    11 Aug 2014, 11:00 PM Reply Like
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