Shares of Melco PBL Entertainment Ltd. slipped Friday after an agent that planned to steer more business to the casino operator was unable to raise cash to expand its business.A-Max runs a company that packages deals on travel fare and hotel rooms into “junkets,” or paid trips that businesses offer clients. The company has an exclusive deal to offer junkets that send customers to Melco PBL’s Crown Macau casino and was poised to raise $375 million in financing Thursday night, analysts said.
That deal fell through, analysts say. Deutsche Bank analyst Karen Tang in a research report estimated the additional junkets A-Max would bring Melco through the expansion would have added $3 to $4 to Melco’s stock price.
Tang still thinks A-Max will be able to raise the cash, probably next week.
Melco’s stock slipped 51 cents, or 3.4 percent, to $14.49 Friday. The shares have traded in a range of $9.95 and $23.55 in the past year.
Related Posts- Melco PBL Changes Name to Melco Crown Entertainment
Melco PBL Entertainment (Macau) Limited, a developer and owner of casino gaming and entertainment resort facilities, announced today that its... - Crown Macau to Open May 9, 2007
Melco PBL Entertainment (Macau) Limited ("Melco PBL Entertainment"), a developer and owner of casino gaming and entertainment resort facilities focused... - All Not Rosy at Crown Macau
Costs at James Packer's Macau casino business have blown out by another $90 million over the past three months as...
- Get the Best Office Phone System
Purchasing an office phone system is one of the important decisions of an organization or business. Telephone is essential equipment that helps to easily run... - The Chocolate Nut fudge for Labor day
The US Coffee Chocolate Giant Kraft bid for the global leader Cadbury's over the weekend with a $16.7 billion bid over the Labor Day weekend... - Online Faxing and the Small Business Start-Up
Online fax does play a significant role in the start-up of many small businesses and companies, mainly because it is a cheap alternative to the...









