Lawrence Ho smiles
Melco Crown Entertainment Limited yesterday reported its unaudited financial results for the second quarter of the 2016 financial year. According to a statement issued by the gaming operator, net revenue for the quarter was USD1,070.4 million, demonstrating an increase of approximately 17 percent from USD916.8 million in the previous corresponding period.
“The increase in net revenue was primarily attributable to the net revenue generated by Studio City, which started operations in October 2015; and the increase in casino revenues at City of Dreams Manila, partially offset by lower casino revenues at City of Dreams and Altira Macau,” said Melco.
The company’s board approved the declaration and payment of a quarterly dividend of USD0.0063 per share.
“We delivered a 20 percent year-over-year increase in adjusted property EBITDA during the second quarter of 2016 as a result of our commitment to controlling costs and increased exposure to the higher margin mass market segment in Macau, together with a strong performance at our integrated resort in Manila,” commented Lawrence Ho, chairman and chief executive officer of Melco Crown Entertainment.
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