House Loses in Melco Quarter

Updated from 11:34 AM EDT

It wasn't a good quarter for the house at Melco Crown Entertainment(MPEL Quote).

Citing an "abnormally high win rate" by players, the Hong Kong-based casino operator posted a loss of $35.3 million, or 8 cents per American depositary share in the first quarter, compared with net income of $43.2 million, or 10 cents per share a year ago.

Revenue came in at $216.5 million.

Analysts polled by Thomson Reuters were expecting the 8 cents-a-share loss on revenue of $251 million.

Melco shares were up 1% to close at $5.85.

In other casino news, MGM Mirage's(MGM Quote) partner in Macau, Pansy Ho, is considering responding to a finding by the New Jersey Division of Gaming Enforcement that she is an "unsuitable" partner for MGM because of her father's alleged ties to organized crime.

"I and my advisers will need time to read and consider the contents of the report and decide how best to respond to it in due course," Ho said in a statement reported by The Associated Press.

Her father, Stanley Ho, a Macau casino mogul, is ranked 113th on Forbes' billionaires list with a net worth of $8 billion.

MGM Mirage shares were down 2% to $8.17. Las Vegas Sands(LVS Quote) was up 2.2% to $9.79.

Wynn Entertainment(WYNN Quote) was down 2.2% to $39.18.

Boyd Gaming(BYD Quote) was down 1.5% to $10.52.

Penn National Gaming(PENN Quote) was down 1.2% to $31.48.

Ameristar Casinos(ASCA Quote) was down 2.6% to $19.72.

Isle of Capri Casinos(ISLE Quote) was up 6.7% to $13.61.

Pinnacle Entertainment(PNK Quote) was down 2.8% to $11.28.