Melcro Crown, Casinos Lower On China Crackdown Fear
Melco Crown Entertainment (MPEL) fell hard and other casinos slid early Wednesday on a report that China will crack down on casino gambling junkets to Macau. Shares of companies with ties to Macau, including Las Vegas Sands (LVS), MGM Resorts International (MGM) and Wynn Resorts (WYNN), were all trading lower although the U.S. casinos recovered a bit in the afternoon. Hong Kong-based Melco Crown was hardest hit, trading down nearly 6% intraday
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