Melco Crown Entertainment(MPEL) has benefited from being the only pure-play on Macau gaming, and is expected to be one of the biggest winners of 2011.
"We continue to believe Melco Crown Entertainment ... is undervalued given its positioning on the Island, Macau market growth and continued improvements at its flagship City of Dreams property," Bain wrote in a note last week.
One tailwind for Melco is its upgrade to its flagship City of Dreams property. The company plans on rolling out 18 additional tables. The company plans on rolling out 18 additional VIP tables by the first quarter of 2011 and has land to open up additional hotel capacity. The VIP arena is expected to be the biggest area of growth in Macau in 2011, so the timing of these new tables perfectly coincides.
Melco is scheduled to release its fourth quarter results on Wednesday, and Wall Street is looking for a profit of 1 cent a share on revenue of $725 million.
NEW YORK, Jan. 26, 2010 (GLOBE NEWSWIRE) -- Melco Crown Entertainment Limited (Nasdaq:MPEL), a developer and owner of casino gaming and entertainment resort facilities focused on the Macau market, today announced that it will file its fourth quarter results for 2009 on Form 6-K with the U.S. Securities and Exchange Commission on February 2, 2010, to be followed by a conference call on the same day at 8:30 a.m. Eastern Time (or 9:30 p.m. Hong Kong Time).
To join the conference call, please use the dial-in details below:
U.S. Toll Free 1 866 543 6403 U.S. Toll / International 1 617 213 8896 HK Toll 852 3002 1672 HK Toll Free 800 96 3844 UK Toll Free 00 800 280 02002 Australia Toll Free 1 800 002 971