SOURCE: The Bedford Report

The Bedford Report

October 11, 2011 08:16 ET

Asian Gaming Still Strong -- Melco Crown Entertainment and MGM Resorts Eye Expansion

The Bedford Report Provides Equity Research on Melco Crown Entertainment & MGM Resorts

NEW YORK, NY--(Marketwire - Oct 11, 2011) - Despite the current economic downturn in the US, Resorts and Casinos with operations in Macau are continuing to post record results. Cash-rich mainland gamblers, who contribute the bulk of earnings in Macau, have helped the tiny island maintain stellar gaming revenue since the start of the year. The Bedford Report examines the outlook for companies in the Resorts and Casinos Industry and provides equity research on Melco Crown Entertainment Ltd. (NASDAQ: MPEL) and MGM Resorts International (NYSE: MGM). Access to the full company reports can be found at:

Macau's Gaming Inspection and Coordination Bureau reported earlier this month that gambling revenue on the small island jumped 39 percent to 21.2 billion patacas ($2.6 billion) in September, reflecting continued growth in the world's largest gambling market despite plunging casino stocks. September's revenue figure was expected to fall short of August's record $3.1 billion due to seasonal factors.

Asia's strong growth in the gaming industry stands in contrast to the Las Vegas Strip, which is now suffering the effects of the global downturn. Casino stocks have had a fairly difficult two months on fears that a potential slowdown in the Chinese economy might affect companies' operations in Macau.

The Bedford Report releases investment research on the Resorts and Casinos industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

Melco Crown Entertainment recently announced that it will pay $360 million for a controlling stake in a new gaming resort in Macau -- the company's second resort in the Asian gaming hub. Melco Crown will spend $1.7 billion developing the 2,000-room resort, with construction starting as early as next year to meet a 2015 completion date, group chief executive Lawrence Ho said.

MGM Resorts intends to expand further in Asia and the first hotel is expected to come on stream this year in Sanya on Hainan Island, China. MGM also expects to have its properties in several other cities in China such as Beijing, Chengdu, Tianjin and Nanjing.

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