The Bedford Report Provides Analyst Research on Melco Crown Entertainment
Mar. 8, 2011 (Marketwire) --
NEW YORK, NY -- (Marketwire) -- 03/08/11 -- Back in 2006 the tiny island of Macau surpassed the Las Vegas Strip as the world's gambling core after the government allowed overseas casino operators to enter the region. Over the last five years Macau revenues have continued to surge, while Las Vegas gaming has struggled amidst surging unemployment numbers. With Vegas still posting disappointing numbers, casino operators have begun looking elsewhere for possible revenues comparable to Macau. The Bedford Report examines the outlook for companies in the Resorts and Casinos Industry and provides research reports on MGM Resorts International (NYSE: MGM) and Melco Crown Entertainment Ltd. (NASDAQ: MPEL). Access to the full company reports can be found at:
One hundred percent of Melco Crown's revenue is derived from Macau. The company operates the Crown Macau and Mocha Club gaming interests in Macau and is developing the City of Dreams casino and resort complex.
MGM's Chairman and Chief Executive Jim Murren is confident that Las Vegas' fortunes are turning around, claiming "the recovery that has been long awaited and frustrating in its timing is gaining momentum." MGM reported a loss of $139 million, or 29 cents a share, for the fourth quarter, compared with a loss of $433.9 million, or 98 cents a share, a year earlier.
The Bedford Report releases regular market updates on the Resorts and Casinos Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.bedfordreport.com and get exclusive access to our numerous analyst reports and industry newsletters.
Las Vegas could face more national competition as Florida is currently seeking to lure more gamblers to its state. Two state senators announced last Friday that they filed legislation that would allow five Las Vegas-style casino hotels in Florida, spaced across the state.
Last year Florida expanded their gambling industry when they reached a compact agreement with the Seminole Indians, authorizing blackjack and baccarat at Seminole casinos. Lawmakers also lowered the gambling tax rate that pari-mutuels pay, and eliminated limits in poker rooms across the state. In its first year of its expanded gambling deal with the state, the Seminole Tribe took in $2 billion.
The Bedford Report provides Analyst Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. The Bedford Report has not been compensated by any of the above-mentioned publicly traded companies. The Bedford Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at http://www.bedfordreport.com/disclaimer
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