"No, I don't like that one or Las Vegas Sands (LVS). Let's get out of these." "'Mad Money Lightning Round': Take a Ride on Union Pacific," 6-12-09

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China Watch: MPEL's Not so Dreamy: Melco Crown Entertainment's saying recently that its fourth-quarter loss narrowed and its City of Dreams project is on time and on budget doesn't make RealMoney.com Contributor David Sterman as upbeat on the company as some analysts. Sterman explains why investors need to be cautious for now and where he believes this stock could go.
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play on macau

growth

Overwieght - Price 5.64 on Sept. 10
by JPMorgan

MPEL trades at 13.7 times, 12.4 times, and 6.2 times our 2008, 2009, and 2010 Ebitda estimates, respectively. We forecast 3Q Ebitda (post-corporate expense) of $51.5 mm and EPS of 3 cents. We [note] MPEL's strong position in the VIP gaming segment, the fastest-growing in...Macau; its exclusive relationship with a large junket consolidator; solid, underappreciated pipeline; a balance sheet [with] capital to fund the...pipeline, and tempered investor expectations...allow[ing] for upside surprises and out-of-the-gate results at new hotel-casino, City of Dreams, to open 2Q09. Market cap: $2.1 billion.

7.5

Shares of Melco PBL Entertainment could rise 50% or more as China indulges its love of gambling.

Macau Says No Dice to More Casinos
Macau officials are saying no to new game licenses and casinos, but reporter Nick Yulico says several casino companies that will benefit from this.

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Gaming / New China

risky

lost money

A Gambling nightmare

Going nowhere fast. Spending money on cost overruns faster than they will ever be able to recoup. May be a take-over soon by Steve Wynn or someone similar.

ouch!

growth

I sold in the house of pain

over building of casinos in Macao.

lots of hype with poor results

it's a dud