The jewel in the Crown loses its shine

Melco Crown's delisting from the Hong Kong stock exchange hints at harder times ahead in Macau, and comes at a difficult time for James Packer's sprawling casino empire.

Melco Crown Entertainment’s decision to delist from the Hong Kong stock exchange is the culmination of an annus horribilis for Macau’s casinos. It is also an indicator of the drag that Macau will exert on earnings for James Packer’s Crown Resorts.

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