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Melco Crown Entertainment Limited (MPEL) develops, owns, and operates casino gaming and entertainment resort facilities in Macau.
It owns and operates City of Dreams, an integrated casino resort that has 450 gaming tables and 1,400 gaming machines; guest rooms; a wet stage performance theater with approximately 2,000 seats; approximately 20 restaurants and bars, 70 retail outlets, and an audio visual multimedia experience; and recreation and leisure facilities, including health and fitness clubs, swimming pools, spa and salons, and banquet and meeting facilities.
The company also operates Altira Macau, a casino hotel, which has approximately 170 gaming tables; 200 guest rooms; and various non-gaming entertainment venues comprising spa, gymnasium, outdoor garden podium, and sky terrace lounge. In addition, it owns and operates Mocha Clubs that provide non-casino based operations of 1,993 gaming machines. Further, the company is developing the Studio City Project, a cinematically-themed integrated entertainment, retail, and gaming resort. Additionally, it operates Taipa Square casino in Taipa Island, Macau.
Shares have formed a bullish "cup & handle" and higher share prices are expected for this stock.
52-Week Trading Range: $12.50 - $31.95
Entry Point: $30.75
Stop Loss: $29.20
Target Price: $33.83
MPEL exceeded our target price. Position closed at $33.89. If you elect to stay in the position, raise your stop loss to $32.75 to protect your gains!
