Melco Soothes Credit Concerns
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Editor's note: "Bricks and Mortar" is a series of columns written by real estate reporter Nicholas Yulico meant to help TheStreet.com readers generate real estate and gaming-related stock ideas.
Melco PBL(MPEL Quote) shares jumped 13% Friday after being slammed earlier this week, when rumors of a problem with the Macau casino owner's credit facility weighed on the stock.
Melco's second-quarter results, released Friday, were weak, as expected, because of the delayed opening of VIP game rooms at the company's first casino, Crown Macau.
However, the company -- which I've picked as a buy for my Bricks and Mortar mock portfolio -- reported positive July and August trends for the Crown, and management did its best to soothe investors about the credit facility fears. ...
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