shares 'may rise 50% in few years' - 5th May 2008
The Sydney Morning Herald)
The shares of Macau casino operator
Melco PBL Entertainment could rise 50 per cent
or more in the next few years as China indulges
its love of gambling, financial weekly Barron's
and several rivals have been hit hard in the last
year as more casinos opened in Macau, increasing
competition and driving down margins as they fought
recently, Melco has found ways to grab more customers
and has a huge new casino on tap. The Chinese
government is now limiting new competition, aiding
all the local houses.
Las Vegas Sands Corp and Wynn Resorts Ltd shares
are getting pounded by fears of a weak US economy.
hunters have begun to take note, the report said.
is a very interesting story and one worth beginning
to start revisiting," Philip Ehrmann, an
Asia specialist and long-term Macau skeptic at
Jupiter Asset management in London, told Barron's.
report also said other analysts say Melco's stock,
which has risen from a low of $US8.20 to $US13
recently, could top its recent high of $US19,
a gain of about 50 per cent, and even go well
beyond that in the next few years.
shares closed at $US13.43 in Friday trading on