Mass market helps lift Melco Crown Entertainment

Melco Crown Entertainment Ltd. (Nasdaq: MPEL), the second-most expensive Chinese casino stock after last year’s 75 percent surge, will extend gains as recreational gamblers in Macau drive revenue growth, according to Union Gaming Group. Melco-Crown, a joint venture between Australian billionaire James Packer and Lawrence Ho, son of gambling tycoon Stanley Ho, has doubled its ADR price since reaching a seven-month low in July.