Friday, May 16, 2008

MPEL Melco Update

Melco reported earnings Wednesday. The company reported that net revenue was $480 million dollars, which is up two and a half times last quarter. Melco generated over $28,000 per table each day at the Crown Macau. This is three times the macau market average. The company reports it has cash of $949 million and debt of $616 million. Crown Macau has the highest gaming volume in the world.

The company traded at unusually high volume the past two days. The stock is now at $13.11 in after hours trading. The stock is still recommended by several analysts including one on If you have not done so please click on the MPEL label for my full review and price target. I still think the stock will double and has the most upside of any casino related stock.

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