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Melco Crown Entertainment Limited

5/21/2013, 12:28 AM ET

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Monday, May 20, 1:54 PM The latest batch of data on gambling revenue from Macau looks promising with the average daily rate over a 7-day tracking period ending yesterday coming in ahead of expectations. If the MTD trend holds, May could be Macau's second best month and help boost the bottom lines for Melco Crown (MPEL +2.4%), Wynn Resorts (WYNN +1.4%), MGM Resorts (MGM +1.5%), and Las Vegas Sands (LVS +0.3%) during the quarter. Comment! [Consumer]
Wednesday, May 15, 7:42 AM Nomura increases its estimate for 2013 Macau gaming revenue to 15% growth from a previous forecast calling for a 13% gain. Estimates for the calendar year from investment firms carry a little more weight now with the revenue haul from Golden Week and the Chinese New Year factored in more accurately. The revised forecast is positive for Macau-sensitive stocks such as Melco Crown (MPEL), Las Vegas Sands (LVS), MGM Resorts (MGM), and Wynn Resorts (WYNN). 2 Comments [Consumer]
Wednesday, May 8, 8:17 AM More on Melco Crown's (MPEL) Q1: The casino operator says revenue was boosted by higher rolling chip volumes and mass market gaming sales which partially offset a lower rolling chip win rate. The City of Dreams property delivered 35% Y/Y revenue growth while Alitira Macau showed a modest 1.6% revenue gain. Cash on hand at the end of quarter totaled $2.5B. MPEL +1.2% premarket. (PR) 1 Comment [Consumer, On the Move]
Wednesday, May 8, 8:08 AM Melco Crown Entertainment (MPEL): Q1 Earning per ADS of $0.24 in-line. Revenue of $1.14B beats by $0.02B. (PR) Comment! [Earnings, Breaking News]
Wednesday, May 8, 12:05 AM Notable earnings before Wednesday’s open: AOL, ARQL, CTSH, CWH, DTEGY.PK, ENB, EZCH, FSYS, FUN, KRO, LMCA, LSE, MPEL, NAVB, NICE, POZN, SODA, STWD, THI, TTI, VVUS, WEN, WMC Comment! [Earnings]
Tuesday, May 7, 5:30 PM Notable earnings before Wednesday’s open: AOL, ARQL, CTSH, CWH, DTEGY.PK, ENB, EZCH, FSYS, FUN, KRO, LMCA, LSE, MPEL, NAVB, NICE, POZN, SODA, STWD, THI, TTI, VVUS, WEN, WMC Comment! [Earnings]
Tuesday, May 7, 1:20 PM Analysts are already out with early estimates for gaming revenue in Macau for May. Wells Fargo sees a 13% to 17% increase to potentially pass the $3.75B mark - to easily beat the sub-$1B Vegas casinos will bring in. Naturally, the news is of interest to Melco Crown (MPEL -1.4%), MGM Resorts (MGM -0.5%), Las Vegas Sands (LVS +0.3%), Wynn Resorts (WYNN +0.5%) with every passing month seeing a higher percentage of the group's total revenue Macau-based. 3 Comments [Consumer, Global & FX]
Thursday, April 25, 10:12 AM Casino watch: JPMorgan tips off that Las Vegas Sands (LVS +2.6%) could see an unexpected Q1 surprise from the Venetian Macao as the new property generates mass revenue at a faster pace than rival casinos. The first quarter earnings parade for the Macau gaming sector (MPEL, MGM, [{WYNN]]) launches today with Wynn Resorts. While channel checks by investment firms indicate strong April traffic in Macau despite the avian bird flu concerns, a confirmation from Wynn could really light up the sector. 3 Comments [Consumer]
Wednesday, April 24, 9:02 AM The channel checks are in but analyst estimates for Macau gaming revenue in April still vary widely. At the top end is CLSA Asia Pacific Markets with an estimate for 10%-15% growth, while Nomura only sees a 8% to 12% gain. What to watch: Despite the monthly jumps which rattle Macau casino players (MPEL, WYNN, MGM,LVS), the long-term trend looks positive as worries that a government crackdown on corruption would affect high rollers fade. Comment! [Consumer]
Tuesday, April 23, 7:36 AM The World Health Organization confirms that there is no evidence the H7N9 avian bird virus spreads from human to human contact. The news is good for Macau-based casinos (MPEL, WYNN, MGM) but won't do much to help Yum Brands (YUM) in the region. The company said earlier this month it suffered a "significant, negative impact" on KFC sales due to worries of chicken contamination in China, but investors are still waiting to hear just how bad the hit will be. Comment! [Consumer, Global & FX]
Monday, April 22, 11:46 AM Gaming revenue is tracking 13% to 15% higher Y/Y in Macau, according to estimates from Wells Fargo. The projection falls in line with numbers from other investment firms and is another indication that the avian bird flu situation in China isn't cutting into Macau traffic dramatically. 1 Comment [Consumer]
Tuesday, April 16, 12:45 PM Melco Crown (MPEL +2%) says it will fund its new casino venture in the Philippines through a private placement of shares. The company aims to raise $377M by selling shares on the Manila exchange. Comment! [Consumer]
Monday, April 15, 2:26 PM RBC Capital Markets says gambling revenue rose in Macau 14.6% during the first week in April despite concerns over the bird flu epidemic. The overall sense from the region is that casino traffic will remain strong unless a human-to-human transmission of the illness is reported. 2 Comments [Consumer]
Wednesday, April 10, 10:17 AM Casino stocks (BJK) are reacting to a report from the Nevada Gaming Control Board that revenue on the Las Vegas Strip rose 31.7% Y/Y in February to $696M. The news helps take much of the sting off of the poor performance for January. (full gaming win report .pdf) 3 Comments [Consumer]
Tuesday, April 9, 9:21 AM Wells Fargo thinks Las Vegas Sands (LVS), Melco Crown (MPEL), and Wynn Resorts (WYNN) should be bought on any weakness tied to the bird flu in China. The investment firm notes that with no human-to-human transmission being reported, traffic trends at Macau casinos should remain strong. 1 Comment [Consumer]
Monday, April 8, 12:15 PM The avian virus in China won't escalate to a wide breakout and hurt traffic to Macau casinos, according to RBC Capital Markets. The rosy forecast falls in line with separate reports from Fitch and Citigroup pointing to strong revenue growth potential in the sector. 2 Comments [Global & FX, Consumer]

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