Seeking Alpha

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.
Comments (1)
  • NYer1
    , contributor
    Comments (798) | 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, 11:00 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|