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…"
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