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Friday, March 24, 2006

Melco Shares Up

As reported by the China Standard: "Shares of Melco International Development, controlled by the family of casino tycoon Stanley Ho, soared by more than a quarter to a record HK$14.60, after the company said it has clinched the last available gambling subconcession in Macau.

"The stock rose as much as 27.7 percent to HK$14.75 during Friday's morning trading session and closed at HK$14.60, up 26.41 percent and the largest single-day gain since the company entered the gaming sector.

"Melco shares have gained 63 percent so far this year, outpacing the 3.4 percent gain in the Hang Seng Index

"The surge in Melco's shares also boosted other Macau gaming stocks Friday. Shares of Galaxy Entertainment, a casino operator, rose 6.8 percent to HK$5.45 while Shun Tak Holdings, which holds an indirect stake in casino owner Sociedade de Jogos de Macau, gained 7 percent to HK$9.10"

posted by Jerry "Jet" Whittaker at 3/24/2006 05:24:00 PM

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Friday, March 24, 2006

Melco Shares Up

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