Kpax, I tend to agree. The MPEL price reflects the Macau/Philippines operations only, whilst CWN reflects 34% of Macau/Philippines and 66% Australian operations. I understand Australia is trending above GDP growth so by my calculations, CWN should be outperforming MPEL in terms of share price. I think the underperformance right now is unfounded and should correct itself shortly.
Re MPEL, my charts are telling me $24 target if it can break above $19, so there is still some good short to medium term upside potential there.
250 tables have been allocated, so they will need to get the banks, that lent $1.4 bill towards the building of Studio City, to waive their conditions, which were previously predicated on 400 tables. Whilst it is less than the original number of table sought, I think the banks will be happy with 250 (which in itself is not a small number). we should hear this week.
