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Images Image source: Melco Crown. The draw of this new resort from an investing standpoint is that it's meant to attract mass-market travelers more than VIP gamblers, which seems to be the future of growth in Macau as the Chinese government continues to seek ways to make Macau even less focused on VIP gambling.Of course, Studio City isn't the only new casino to open in Macau. Both Las Vegas Sands and Wynn Resorts opened casinos there by the end of 2016, and MGM Resorts is working on its own resort, which is expected to open mid-2017. These new resorts are also hoping to attract mass-market and non-gambling market. Melco Crown earnings analysis Melco Crown has been able to beat earnings expectations multiple times in recent quarters. In the most recently reported quarter, it posted sales up 22%, year over year, and earnings of $0.04 per share, double the prior-year quarter. The strong quarter was attributed to Studio City's success, as well as growth at the company's resort in the Philippines, though those operations make up only about 11% of total revenue. Additionally, a share buyback program started in May 2015 has reduced share count by about 10%, helping drive earnings per share slightly higher. Regardless of stronger-than-expected earnings growth, Melco Crown stock still looks expensive based on price-to-earnings ratios. Even though the company has been able to grow earnings while its stock is still priced at a nearly all-time low, its P/E remains an industry high.

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Istanbul suspect a Kyrgyzstan man: media The Islamic State group has claimed responsibility for the nightclub massacre, saying the attack in the first hours of Jan. 1 was in reprisal for Turkish military operations in northern Syria. The man identified as the suspect had been on the run since the attack. Hurriyet newspaper and other media have identified the gunman as Abdulkadir Masharipov, an Uzbekistan national.The suspect was to undergo medical checks before being taken to police headquarters for questioning, the paper said in its online edition. Dogan news agency published what it said was the first image of the attacker. It showed a bruised, black-haired man in a grey, bloodiedshirt being held by his neck. Private NTV television said the gunman had resisted arrest. NTV reported that the alleged gunman's Kyrgyz friend and three other people also were detained. His 4-year-old child, who was with him at the home, was taken into protective custody. Hurriyet newspaper said the alleged gunman's wife and 1-year old daughter were caught in a police operation on Jan. 12.

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