Melco Crown Shares Dip Amid Concerns with Macau Junket Operators
Shares of Melco Crown Entertainment (NASDAQ: MPEL) are down more than 7 percent Tuesday following a WSJ piece from last night which suggested police in both mainland China and Macau have detained people from at least three large junket operators recently. The report may indicate Chinese officials could boost scrutiny of these junket operators.
An analyst from Nomura Securities earlier said reports of the junket regulation tightening would be "more of an annoyance and not life threatening." The analyst reiterated Buy ratings on both Las Vegas Sands (NYSE: LVS) and Wynn Resorts (NASDAQ: WYNN), but did not mention Melco.
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