Melco Needs Macau Momentum

Editor's note: "Bricks and Mortar" is a mock portfolio created by reporter Nicholas Yulico that is meant to help generate real estate and gaming-related stock ideas. In keeping with TSC's editorial policy, Yulico doesn't own or short individual stocks.

Melco PBL's(MPEL Quote) attempts to dominate the VIP segment of the booming Macau casino market have taken a positive turn.

Yet, for all the supposed good news, the stock is stuck in neutral, trading at levels seen six months ago. Once again, the word is "manana." I can't help but wonder: How long will long-term investors stick around?

I've been bullish on Melco since March, when I rated the stock own and included it in the Bricks and Mortar mock portfolio. At the time, many investors had given up on the name -- as did our own Jim Cramer. ...