Melco Crown Entertainment said in a statement on Thursday that its operating income for the third quarter was US$108.9 million, up 22 per cent year-on-year.
The company’s net revenue between July and September rose 22 per cent year-on-year to US$1.15 billion, according to the statement.
The increase in net revenue was primarily attributable to the net revenue generated by Studio City in Cotai, which started operations in October last year, and the increase in casino revenues at City of Dreams Manila, partially offset by casino revenues at City of Dreams in Macau and Altira Macau, the statement said.
Adjusted property Ebitda rose 22 per cent year-on-year to US$289 million.
The company’s net loss attributable to non-controlling interests during the third quarter of US$18.3 million was related to Studio City and City of Dreams Manila, the statement said.
The statement quoted Lawrence Ho Yau-lung, the company’s chairman and CEO, as saying that “as trends stabilise in Macau, Melco Crown Entertainment is positioned to benefit from Macau’s evolution into a mass-focused, multi-day stay destination”.
(Macau News / The Macau Post Daily)
