Macau’s Baccarat Boom Earns Melco Top Ranking Among Analysts
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The six-month rally that has sent casino operator Melco Crown Entertainment Ltd. to a record high isn’t scaring away stock analysts.
Melco Crown, which runs two gambling resorts in Macau, has the highest consensus analyst ranking among the city’s 10 casino companies with at least five ratings, according to data compiled by Bloomberg. Melco said in November it was making “significant progress” in construction of a third Macau resort as it taps into a baccarat boom that drove up gaming revenue 18 percent in the former Portuguese colony in 2013.