• It's Here!

    Etf Pro

    Get the big financial market moves right, bullish or bearish with Hedgeye’s ETF Pro.

  • It's Here


    Identify global risks and opportunities with essential macro intel using Hedgeye’s Market Edges.

We're pretty sure he was forced out.

MPEL announced that Simon Dewhurst resigned and a search for a new CFO is underway.  Management is recognizing that they have moved from a development company to a management company and that the role of the CFO has changed.  They want a more experienced gaming person - an operational person vs. capital markets.

This move should not have an impact other than providing a cheaper entry point into the stock.  Recent and current market share gains by MPEL in Macau could be a positive catalyst.  Moreover, assuming August finishes as it began, MPEL will have strung two straight quarters of good hold - somewhat impeding the bear thesis that chronic bad hold is indicative of a major structural business flaw.