Tag Archives: China
The Best Stock to own for the “Las Vegas of China” has 50% Upside
While taking time out on a trip to Hong Kong a few years ago, I took a ferry over to the island protectorate of Macau. The place felt like a ghost town, with few tourists, though the locals said that would soon change. They were right. A few years later, Macau has finished up the first phase of a building boom that has made it the "Las Vegas of Asia."
Indeed, Macau has quickly emerged as one of the top vacation destinations for Chinese citizens, which is why I thought Melco Crown Entertainment (Nasdaq: MPEL) would make a great investment. I profiled this up-and-coming casino operator more than a year ago, and its shares subsequently zoomed from around $ 4.50 in the fall of 2010 to around $ 16 this past summer — a gain of 255%.
Investors went on to lock in profits on this highflying stock, but with shares back below $ 10, it's now a bargain once again. In a few years time, this stock could hit that 52-week high again as investors start to understand the wild card this company has up its sleeve.
