Macau gaming stocks end first week of 2014 mixed

    Published in: Latest IntelligenceShares in Macau’s six gaming operators closed mixed in the week ending Jan. 3, despite news of record 2013 gross gaming revenue of $45.2 billion in the former Portuguese enclave.Hong Kong-listed Galaxy Entertainment, Melco Crown Entertainment and MGM China – reached their 52-week highs, extending gains after their share prices doubled last year. Notably, shares in Galaxy rose 5.45 percent to a record of HK$70.5, taking its one-month gain to almost 15 percent. Galaxy clinched the title of best-performing blue-chip stock in the Hang Seng Index in 2013 with a gain of 129 percent.Despite a stellar performance since listing last July, Macau Legend, the casino operator owned by David Chow, saw its shares retreat by 1.85 percent to HK$7.98, with turnover dropping sharply. Investors may be pausing until they get more clarity in corporate earnings.According to a preliminary schedule, Macau Legend may release its full-year earnings on...

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