Price Volume Alerts: Macau Casino Plays (LVS, WYNN, MPEL)

Posted in General 
November 11th, 2008

Casino stocks, particularly those with a Macau angle are active in trading today.  There are concerns that Singapore’s government will enter a venture to take over the Las Vegas Sands Corp. (NYSE: LVS) resort in Macau if the company is unable to fight off loan defaults.

As Wynn Resorts (NASDAQ: WYNN) is supposed to be better off in the pocket book, it is actually being deemed a winner.  Its shares are up almost 4% pre-market at 8:55 AM EST on only about 13,500 shares. This was added to the S&P 500 as well, and that may be helping more than anything.

Melco Crown Entertainment Ltd. (NASDAQ: MPEL) is deemed the more speculative play for macau, and its shares are being hit over the fallout.  Its shares are down a sharp 18% at $3.32 on only about 3,500 shares at 8:55 AM EST.

Las Vegas Sands (NYSE: LVS) is seeing its shares trade down 6% at $7.50 pre-market at 8:55 AM EST on almost 160,000 shares.

Jon C. Ogg
November 11, 2008

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