By late morning, shares had fallen 5.9% to $33.51.
Gross gaming revenue over the month climbed 9.3% year over year, below an average estimate of 14.5% according to analysts surveyed by Bloomberg. Slower-than-expected growth is a concern after April gross gaming revenue rose a comparatively-soft 10.6% from a year earlier.
TheStreet Ratings team rates MELCO CROWN ENTMT LTD as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate MELCO CROWN ENTMT LTD (MPEL) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company shows low profit margins."
Highlights from the analysis by TheStreet Ratings Team goes as follows: