NEW YORK (TheStreet) --Shares of Melco Crown Entertainment Ltd. (MPEL) are higher by 2.03% to $26.64 in mid morning trading on Friday, as Macau based casino stocks get a boost from CEO Sheldon Adelson of Las Vegas Sands' (LVS) comments that the Chinese week long national holiday, China's Golden Week, will fill his China Sands Ltd. business to capacity, Bloomberg reports.
China's holiday celebration will run from Oct. 1 through Oct. 7, and is a time in which mainland residents go on vacation, CNBC.com said.
Some analysts expect China's Golden Week to generate revenue for the struggling Macau gambling district, while others caution that vacationers traveling at this time are looking for more family oriented activities, and may avoid the tables, Bloomberg noted.
Separately, 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 several positive factors, 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 largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."