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TheStreet Open House

5 Casino Stocks to Bet On in 2012

Stocks in this article: IGT LVS MGM MPEL PNK

2. Melco Crown Entertainment (MPEL - Get Report) is a Hong-Kong based developer and owner of casino gaming and entertainment resorts focused on the Macau market. The company operates its facilities through its subsidiary Melco Crown Gaming, one of the six companies granted concessions or sub concessions to operate casinos in Macau.

Of the 19 analysts covering the stock, 79% recommend a buy and 21% rate a hold. Analysts' average 12-month price target of $14.88 for the stock is 70.6% higher than the current price, according to a Bloomberg consensus.

For the third quarter of 2011, the company reported net revenue at $1.05 billion, growing 44.6% from $726 million in the same period previous year. Record net income attributable to Melco Crown Entertainment for the third quarter of 2011 was $113.3 million, or 21 cents per ADS, compared with net income attributable to Melco Crown Entertainment of $15.8 million, or 3 cents per ADS, in the third quarter of 2010.

Melco Crown successfully listed on the Stock Exchange of Hong Kong and started trading on the main board of SEHK on Dec. 7.

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