Tag: macau wynn
Melco Crown Chasing Wynn and Las Vegas Sands
February 13, 2014
247 Wall Street – Melco Crown Entertainment Ltd. (NASDAQ: MPEL), one of Macau’s biggest casino operators, said profit doubled in the fourth quarter, thanks to its ability to attract so-called premium mass market gamblers. The company is now even moving toward paying its shareholders a dividend. Melco Crown declared a special dividend of $0.34 per American Depositary Receipt (ADR), or $0.115 a share. The company also proposed a dividend policy of 30% of net income. This dividend news has been floated ahead of time by some analysts, but a 30% payout of income initially is strong. The company earned $0.40…