Posted on Saturday, 30th January 2010 by admin
Melco Crown Entertainment Melco Crown Entertainment became the latest gaming stock to have their price shoot up in early trading this week. Melco stock rose almost ten percent, closing the day at $4.09.
For a company that has struggled with their stock price for much of the past year, Tuesday’s jump brought some hope to investors of Melco Crown. The stock increased by $.33, a jump of $8.78 a share.
There was good news from the market for some other US-based gaming companies as well. Ameristar Casinos had their stock price rise 5.31%, to $16.27. Century Casinos jumped to $2.56 a share, up 2.81%.
MGM Mirage, the latest company to announce plans for an initial public offering in Asia, increased slightly after a major jump on Monday. MGM stock was up less than one percent at the close of the trading day Tuesday, finishing at $11.88.
The news was not as good for a couple of companies that completed Asian IPO’s last year. Wynn Resorts and Las Vegas Sands both had their stocks drop on Tuesday. Wynn stock was down 1.07%, to $64.84, and Sands stock closed at $16.95, down .94%.
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