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 "
<< Home