Melco Crown Entertainment (MPEL) Misses Q2 EPS by 6c
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Melco Crown (MPEL) Approves $500M Buyback Plan
August 7, 2014 8:26 AM EDTMelco Crown Ent. (Nasdaq: MPEL) announced that its Board of Directors has authorized a program to carry out on-market repurchases of up to an aggregate of US$500 million of their trading value until the expiry of the Company's current share repurchase mandate granted to the Board of Directors at the Company's annual... More
Macau 2014 Revenue Growth Forecast Reduced to 6.5% at Deutsche Bank (LVS) (MGM) (WYNN) (MPEL)
August 6, 2014 11:05 AM EDTDeutsche Bank analyst Carlo Santarelli revised his Macau 3Q and 2014 revenue forecast to -0.9% and +6.5%, respectively (prior +3.0% and +8.6%). Comments follow July's 3.6% year-over-year drop in total GGR.
"We are now estimating 3Q14 VIP and mass revenue comparisons of -10.3% and +16.3%, respectively, versus our prior estimates of -8.0% and +23.2%, respectively. Our full year 2014 forecast for mass revenue goes to +24.3% from +27.9% while our VIP revenue forecast goes to -2.6% from - 1.3%. Our 2015 growth forecast is +11.5%, down from +11.6%," said Santarelli.
"We... More
