Despite a stellar 6 month run Crown (CWN) is still receiving strong support from analysts on the back of booming trade in Macau

James Marlay

Livewire Markets

Despite a stellar 6 month run Crown (CWN) is still receiving strong support from analysts on the back of booming trade in Macau. Melco Crown, which runs two gambling resorts in Macau, has the highest consensus analyst ranking among the city's 10 casino companies. Grant Govertsen a Macau-based analyst at Union Gaming Group told Bloomberg Macau has a ton of momentum right now and trends have never been stronger, hence, valuations have never been higher. Goverston believes that despite recent revisions most analyst estimates for 2014 are still to low. Melco said in November it was making significant progress in construction of a third Macau resort as it taps into a baccarat boom that drove up gaming revenue 18 percent in 2013. (VIEW LINK)


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