MCArmel1
9 years ago
Melco Crown Entertainment misses by $0.05, misses on revenue
Nov 5 2015, 08:12 ET | About: Melco Crown Entertainme... (MPEL) | By: Mohit Manghnani, SA News Editor
Melco Crown Entertainment (NASDAQ:MPEL): Q3 EPS of $0.06 misses by $0.05.
Revenue of $945.7M (-15.6% Y/Y) misses by $8.09M.
Press Release
http://seekingalpha.com/news/2901256-melco-crown-entertainment-misses-by-0_05-misses-on-revenue?uprof=45#email_link
Melco Crown Entertainment Announces Unaudited Third Quarter 2015 Earnings and Declares Quarterly Dividend
Thu November 5, 2015 8:10 AM|GlobeNewswire | About: MPEL
MACAU, Nov. 05, 2015 (GLOBE NEWSWIRE) -- Melco Crown Entertainment Limited (MPEL) (Melco Crown Entertainment or the Company or we), a developer, owner and operator of casino gaming and entertainment resort facilities in Asia, today reported its unaudited financial results for the third quarter of 2015.
Net revenue for the third quarter of 2015 was US$945.7 million, representing a decrease of approximately 16% from US$1,124.1 million for the comparable period in 2014. The decline in net revenue was primarily attributable to lower rolling chip revenues and mass market table games revenues in Macau, partially offset by the net revenue generated by City of Dreams Manila, which started operations in December 2014.
Adjusted property EBITDA(1) was US$237.3 million for the third quarter of 2015, as compared to Adjusted property EBITDA of US$305.7 million in the third quarter of 2014. The 22% year-over-year decline in Adjusted property EBITDA was attributable to lower contribution from the group-wide rolling chip segment and mass market table games segment.
On a U.S. GAAP basis, net income attributable to Melco Crown Entertainment for the third quarter of 2015 was US$33.2 million, or US$0.06 per ADS, compared with net income attributable to Melco Crown Entertainment of US$132.2 million, or US$0.24 per ADS, in the third quarter of 2014. The net loss attributable to noncontrolling interests during the third quarter of 2015 of US$34.1 million was related to Studio City and City of Dreams Manila.
Mr. Lawrence Ho, Co-Chairman and Chief Executive Officer of Melco Crown Entertainment, commented, Our results in the third quarter of 2015 were impressive, particularly given the challenging demand backdrop in Macau, with our Macau Property EBITDA expanding over 10% sequentially. This performance highlights our world-class gaming and non-gaming amenities and market-leading, premium-positioned flagship integrated resort, City of Dreams, together with our ongoing commitment to managing costs.
Our ability to compete strongly in the mass segment in a disciplined manner and our strict approach to cost management, particularly in marketing, player reinvestment and payroll expenses, is demonstrated by a greater than 200 basis point increase in our Macau Property EBITDA margins during the recent quarter.
I am delighted to announce the recent successful opening of our highly anticipated integrated resort in Macau, Studio City, which brings to Macau the most diversified entertainment-focused property ever contemplated in Macau. Our newest large-scale property represents a major milestone for our Company that enables us to further diversify our offering of entertainment-focused non-gaming attractions, which are unrivalled in Macau.
Studio City features a wide array of entertainment options for visitors of all ages to enjoy. The art-deco inspired façade houses the iconic Golden Reel the worlds only figure-8 Ferris wheel, as well as a 4D flight simulation ride, Batman Dark Flight; a 40,000-square-foot family entertainment center, Warner Bros. Fun Zone; an incredible live magical experience showcasing the world's greatest magicians, The House of Magic; Macaus first-ever Ibiza-style nightclub, Pacha Macau; and a 5,000-seat multi-purpose entertainment center, Studio City Event Center, hosting exciting live concerts, theatrical and top sports offerings in addition to award shows and other special feature events.
The property also delivers world-class accommodation at the approximately 1,600-room Studio City Hotel, and a diverse range of international restaurants, cafes and relaxed bars and lounges. Studio City also significantly expands our Companys retail capacity in Macau with over 35,000 square meters of distinctive retail showcasing sophisticated and prestigious fashion brands.
Studio Citys location directly adjacent to the Lotus Bridge immigration point, which connects with Hengqin Island, and a future station-point for the Macau Light Rapid Transit, provides a strategic location in Cotai, enabling the property to enjoy ideal access to visitors from the fast growing and increasingly important Hengqin Island.
We anticipate that Studio City will provide a strong complement to our current operating assets in Macau, allowing us to deepen our customer mix. The opening of Studio City highlights our Companys commitment to help evolve and greatly enhance Macaus non-gaming entertainment proposition, which in turn supports Macaus evolution into a multi-faceted entertainment destination. Studio City also deepens our investment in the local community by offering unique and rewarding career opportunities not currently available in Macau.
We thank the Macau and Central governments for their support and recognition of our Companys contribution to the true diversification of Macau into a world leading leisure and tourism destination.
In Manila, City of Dreams delivered 93% sequential growth in Property EBITDA, as a result of strong traction in the rolling chip segment and further expansion of its mass table and slot machine revenue. Hotel occupancy was maintained at a high 88% for the quarter. City of Dreams Manila maintained strong visitation statistics, leading all other integrated resorts in Manila, as its unique array of gaming and entertainment offerings continued to captivate patrons, both domestic and international. We believe that City of Dreams Manila is well positioned for long term success as Manila transforms into an exciting and diverse tourism destination for the region.
City of Dreams Third Quarter Results
For the quarter ended September 30, 2015, net revenue at City of Dreams was US$665.6 million compared to US$911.6 million in the third quarter of 2014. City of Dreams generated Adjusted EBITDA of US$191.5 million in the third quarter of 2015, representing a decrease of 31% compared to US$276.0 million in the comparable period of 2014. The decline in Adjusted EBITDA was primarily a result of lower rolling chip revenues and mass market table games revenues.
Rolling chip volume totaled US$9.3 billion for the third quarter of 2015 versus US$17.3 billion in the third quarter of 2014. The rolling chip win rate was 2.9% in the third quarter of 2015 versus 2.7% in the third quarter of 2014. The expected rolling chip win rate range is 2.7%-3.0%.
Mass market table games drop decreased to US$1,190.3 million compared with US$1,340.4 million in the third quarter of 2014. The mass market table games hold percentage was 35.1% in the third quarter of 2015 compared to 38.9% in the third quarter of 2014.
Gaming machine handle for the third quarter of 2015 was US$1,211.3 million, compared with US$1,551.7 million in the third quarter of 2014.
Total non-gaming revenue at City of Dreams in the third quarter of 2015 was US$66.8 million, compared with US$74.2 million in the third quarter of 2014.
Altira Macau Third Quarter Results
For the quarter ended September 30, 2015, net revenue at Altira Macau was US$140.3 million compared to US$160.4 million in the third quarter of 2014. Altira Macau generated Adjusted EBITDA of US$13.3 million in the third quarter of 2015 compared with Adjusted EBITDA of US$20.3 million in the third quarter of 2014. The year-over-year decrease in Adjusted EBITDA was primarily a result of lower rolling chip revenues.
Rolling chip volume totaled US$5.2 billion in the third quarter of 2015 versus US$7.2 billion in the third quarter of 2014. The rolling chip win rate was 3.0% in the third quarter of 2015 versus 2.7% in the third quarter of 2014. The expected rolling chip win rate range is 2.7%-3.0%.
In the mass market table games segment, drop totaled US$156.7 million in the third quarter of 2015, a decrease from US$181.4 million generated in the comparable period in 2014. The mass market table games hold percentage was 19.4% in the third quarter of 2015 compared with 16.2% in the third quarter of 2014.
Gaming machine handle for the third quarter of 2015 was US$11.2 million.
Total non-gaming revenue at Altira Macau in the third quarter of 2015 was US$8.1 million compared with US$9.0 million in the third quarter of 2014.
Mocha Clubs Third Quarter Results
Net revenue from Mocha Clubs totaled US$36.1 million in the third quarter of 2015 as compared to US$38.5 million in the third quarter of 2014. Mocha Clubs generated US$8.5 million of Adjusted EBITDA in the third quarter of 2015 compared with US$9.9 million in the same period in 2014.
The number of gaming machines in operation at Mocha Clubs averaged approximately 1,200 in the third quarter of 2015, compared to approximately 1,300 in the comparable period in 2014. The reduction in gaming machines reported by Mocha Clubs was primarily due to the transfer of the reporting of one club to Altira Macau in 2015. The net win per gaming machine per day was US$318 in the third quarter of 2015, as compared with US$306 in the comparable period in 2014.
City of Dreams Manila Third Quarter Results
For the third quarter of 2015, net revenue at City of Dreams Manila was US$91.7 million. City of Dreams Manila generated Adjusted EBITDA of US$24.4 million in the third quarter of 2015.
Rolling chip volume totaled US$1.2 billion for the third quarter of 2015. The rolling chip win rate was 2.9% in the third quarter of 2015. The expected rolling chip win rate range is 2.7%-3.0%.
Mass market table games drop was US$116.7 million and the mass market table games hold percentage was 27.0% in the third quarter of 2015.
Gaming machine handle for the third quarter of 2015 was US$508.4 million. The number of gaming machines in operation at City of Dreams Manila averaged approximately 1,700 in the third quarter of 2015. The net win per gaming machine per day was US$184 for the third quarter of 2015.
Total non-gaming revenue at City of Dreams Manila in the third quarter of 2015 was US$26.4 million.
Other Factors Affecting Earnings
Total net non-operating expenses for the third quarter of 2015 were US$34.6 million, which mainly included interest income of US$4.2 million and interest expenses, net of capitalized interest, of US$23.2 million, US$9.5 million of other finance costs and US$6.5 million of net foreign exchange loss. We recorded US$40.3 million of capitalized interest during the third quarter of 2015, primarily relating to Studio City and the fifth hotel tower at City of Dreams.
The year-on-year decrease of US$4.2 million in net non-operating expenses was primarily due to higher capitalized interest in the current quarter, partially offset by higher interest expenses resulted from the drawdown of the Studio City US$1.3 billion term loan facility in late July 2014.
Depreciation and amortization costs of US$114.3 million were recorded in the third quarter of 2015, of which US$14.3 million was related to the amortization of our gaming subconcession and US$16.1 million was related to the amortization of land use rights.
More...
http://seekingalpha.com/pr/15253756-melco-crown-entertainment-announces-unaudited-third-quarter-2015-earnings-and-declares-quarterly-dividend
MCArmel1
9 years ago
Melco Crown Entertainment misses by $0.04, misses on revenue
Aug 6 2015, 08:20 ET | About: Melco Crown Entertainme... (MPEL) | By: Mohit Manghnani, SA News Editor
Melco Crown Entertainment (NASDAQ:MPEL): Q2 EPS of $0.05 misses by $0.04.
Revenue of $916.8M (-23.6% Y/Y) misses by $55.49M.
Shares -2.3% PM.
Press Release
http://seekingalpha.com/news/2703156-melco-crown-entertainment-misses-by-0_04-misses-on-revenue?uprof=45#email_link
Melco Crown Entertainment Announces Unaudited Second Quarter 2015 Earnings and Declares Quarterly Dividend
Thu August 6, 2015 8:17 AM|GlobeNewswire | About: MPEL
MACAU, Aug. 6, 2015 (GLOBE NEWSWIRE) -- Melco Crown Entertainment Limited (MPEL) ("Melco Crown Entertainment" or the "Company" or "we"), a developer, owner and operator of casino gaming and entertainment resort facilities in Asia, today reported its unaudited financial results for the second quarter of 2015.
Net revenue for the second quarter of 2015 was US$916.8 million, representing a decrease of approximately 24% from US$1,199.5 million for the comparable period in 2014. The decline in net revenue was primarily attributable to lower rolling chip revenues and mass market table games revenues in Macau, partially offset by the net revenue generated by City of Dreams Manila, which started operations in December 2014.
Adjusted property EBITDA(1) was US$204.9 million for the second quarter of 2015, as compared to Adjusted property EBITDA of US$313.6 million in the second quarter of 2014. The 35% year-over-year decline in Adjusted property EBITDA was attributable to lower group-wide rolling chip volumes and rolling chip win rate, together with a lower contribution from the mass market table games segment.
On a U.S. GAAP basis, net income attributable to Melco Crown Entertainment for the second quarter of 2015 was US$24.3 million, or US$0.05 per ADS, compared with net income attributable to Melco Crown Entertainment of US$143.6 million, or US$0.26 per ADS, in the second quarter of 2014. The net loss attributable to noncontrolling interests during the second quarter of 2015 of US$30.0 million was related to Studio City and City of Dreams Manila.
Mr. Lawrence Ho, Co-Chairman and Chief Executive Officer of Melco Crown Entertainment, commented, "We delivered a solid operating and financial performance in the second quarter of 2015 in what continues to be a challenging environment for Macau.
"During the quarter, we maintained our company-wide cost control focus, including continuous strong discipline on marketing costs, player reinvestment and payroll costs. While we are focused on managing costs during this challenging demand environment, we remain fully committed to the long term development of our employees.
"As an employer of choice with a strong and deep heritage in Macau, we believe that our long term success is dependent on the hard work and dedication of our employees, and the development of Macau into a leading, multi-faceted leisure and tourism destination. The development of our employees and the ongoing support of the local community are evident in our market-leading training and community programs.
"The imminent opening of Studio City has created new and exciting employment opportunities for the community and our existing employees. We expect a meaningful number of our experienced colleagues to choose to take advantage of the new opportunities and new avenues to professional growth and development available at Studio City. Studio City will benefit from the sharing of the Company's core values and community spirit, and the industry expertise necessary to deliver market-leading services upon its opening. The lateral movement of employees facilitates the rationalization of our work force and is expected to allow us to realize potential cost-savings across all the relevant businesses at the time of opening.
"We are very excited about Studio City as our subsidiary embarks on the next major stage of development, with the opening of the Hollywood-inspired integrated resorton October 27, 2015. This latest large-scale integrated resort is designed to introduce to Macau a more diversified mix of entertainment than ever before and set to become a catalyst to the market, and substantially enhance Macau's appeal to an increasingly sophisticated Asian consumer who is continually seeking world-class, multi-faceted tourism experiences.
"Studio City, on track to meet its design and construction budget of US$2.3 billion, will complement our already unique and innovative portfolio of assets including City of Dreams, which remains the leading premium-focused integrated resort in Macau.
"Macau is currently experiencing a difficult period. However, we believe that through the strong leadership from the Macau and Chinese governments, the ongoing build-out of significant local and regional infrastructure, together with an expanding and increasingly affluent Chinese middle-to-upper-class, Macau remains the world's most important and exciting gaming market. We look forward to continuing our leadership role in the development of Macau into a truly diversified tourist destination.
"In Manila, City of Dreams continues to grow revenues across all business segments, with the rolling chip segment gaining meaningful traction last month. The property's world-class array of gaming and non-gaming attractions enables City of Dreams Manila to enjoy market-leading visitation in Manila, positioning the property for long term success as the city develops into one of the leading tourism destinations in Asia."
City of Dreams Second Quarter Results
For the quarter ended June 30, 2015, net revenue at City of Dreams was US$654.2 million compared to US$967.5 million in the second quarter of 2014. City of Dreams generated Adjusted EBITDA of US$179.0 million in the second quarter of 2015, representing a decrease of 38% compared to US$290.2 million in the comparable period of 2014. The decline in Adjusted EBITDA was primarily a result of lower rolling chip revenues and mass market table games revenues.
Rolling chip volume totaled US$11.1 billion for the second quarter of 2015 versus US$22.1 billion in the second quarter of 2014. The rolling chip win rate was 2.7% in both quarters ended June 30, 2015 and 2014. The expected rolling chip win rate range is 2.7%3.0%.
Mass market table games drop decreased to US$1,198.8 million compared with US$1,330.8 million in the second quarter of 2014. The mass market table games hold percentage was 32.4% in the second quarter of 2015 compared to 37.4% in the second quarter of 2014.
Gaming machine handle for the second quarter of 2015 was US$1,116.7 million, compared with US$1,511.4 million in the second quarter of 2014.
Total non-gaming revenue at City of Dreams in the second quarter of 2015 was US$63.8 million, compared with US$67.2 million in the second quarter of 2014.
More...
http://seekingalpha.com/pr/14333596-melco-crown-entertainment-announces-unaudited-second-quarter-2015-earnings-and-declares-quarterly-dividend
MCArmel1
10 years ago
Melco Crown Entertainment misses by $0.08, misses on revenue
May 7 2015, 08:53 ET | About: Melco Crown Entertainme... (MPEL) | By: Mohit Manghnani, SA News Editor
Melco Crown Entertainment (NASDAQ:MPEL): Q1 EPS of $0.11 misses by $0.08.
Revenue of $1.05B (-22.8% Y/Y) misses by $30M.
Shares -1.9% PM.
Press Release
http://seekingalpha.com/news/2500856-melco-crown-entertainment-misses-by-0_08-misses-on-revenue?auth_param=ano5b:1akmo2v:6189da66869a7553f7ce7a64e03da791&uprof=45#email_link
Melco Crown Entertainment Announces Unaudited First Quarter 2015 Earnings
Thu May 7, 2015 8:16 AM|GlobeNewswire
MACAU, May 7, 2015 (GLOBE NEWSWIRE) -- Melco Crown Entertainment Limited (MPEL) ("Melco Crown Entertainment" or "the Company" or "we") (SEHK:6883) (Nasdaq:MPEL), a developer, owner and operator of casino gaming and entertainment resort facilities in Asia, today reported its unaudited financial results for the first quarter of 2015.
Net revenue for the first quarter of 2015 was US$1,054.3 million, representing a decrease of approximately 22% from US$1,357.3 million for the comparable period in 2014. The decline in net revenue was primarily attributable to lower group-wide rolling chip revenues and mass market table games revenues.
Adjusted property EBITDA(1) was US$253.3 million for the first quarter of 2015, as compared to Adjusted property EBITDA of US$387.5 million in the first quarter of 2014. The 35% year-over-year decline in Adjusted property EBITDA was attributable to lower group-wide rolling chip volumes and rolling chip win rate, together with a lower contribution from the mass market table games segment.
On a U.S. GAAP basis, net income attributable to Melco Crown Entertainment for the first quarter of 2015 was US$60.6 million, or US$0.11 per ADS, compared with net income attributable to Melco Crown Entertainment of US$239.5 million, or US$0.44 per ADS, in the first quarter of 2014. The net loss attributable to noncontrolling interests during the first quarter of 2015 of US$36.8 million related to Studio City and City of Dreams Manila.
Mr. Lawrence Ho, Co-Chairman and Chief Executive Officer of Melco Crown Entertainment, commented, "I am pleased to report a solid operating and financial performance for Melco Crown Entertainment in what continues to be a challenging period for Macau.
"While the demand environment in Macau remains challenging, we are firmly committed to maximizing customer experience and loyalty by leveraging our premium hotel rooms, food and beverage amenities and entertainment attractions. We are also firmly committed to maintaining a strict discipline on player reinvestment and operating costs, as demonstrated by our Macau Property EBITDA margins which remained flat sequentially despite declining revenues.
"With a market-leading array of premium non-gaming amenities, Melco Crown Entertainment once again received more Forbes-5 star awards than any other company in Macau. We believe this highlights City of Dreams and Altira's unique appeal to the most discerning and sophisticated customers in Macau.
"We have always strived to offer visitors a multi-faceted experience and have consistently supported the Macau Government's long term vision for Macau as a world-class leisure and tourism destination. Our support and commitment are highlighted by the diverse non-gaming amenities we offer, including our award winning The House of Dancing Water show which required an investment of over US$300 million to design and produce and has been viewed by over 3.2 million guests, Club Cubic, Macau's only cabaret show, Taboo, and our SOHO food and beverage and entertainment precinct.
"Studio City, which remains on budget and on schedule, signifies our Company's continued commitment to the diversification of Macau and it highlights our ability to bring unique, market-leading attractions to Macau. Studio City will provide a diverse and exciting mix of entertainment in Macau, including a Warner Bros. Batman-themed motion ride, a 40,000-square-foot family entertainment center, Asia's highest Ferris wheel, a TV production studio, a 5,000-seat multi-purpose live entertainment center, a live magic show precinct and Pacha nightclub.
"Studio City is conveniently located on Cotai and is directly adjacent to the Lotus Bridge immigration point connecting Hengqin Island and a future station-point for the Macau Light Rapid Transit. We believe that Studio City with its Hollywood-inspired design and exciting attractions will attract new customers and visitors to Macau.
"We remain firm believers in Macau's long term positioning as the leading leisure and tourism destination in the region. We believe that Macau's unique geographical position, the Macau and Central Government's forward-thinking and expansive infrastructure and development plan, and the diversification of the city's leisure and tourism offering all together provide a sustainable long term growth model. We look forward to continuing our leadership role as a provider of unique and world-class entertainment attractions and non-gaming amenities in Macau and our support for the long term vision for Macau.
"City of Dreams Manila continues to build on its early success, with its mass market gaming operations and non-gaming attractions delivering robust growth since its opening in December 2014. We believe that this growth, together with the junket business that is anticipated to develop over the coming months, positions the property to realize its potential as the leading integrated resort in the Philippines.
"City of Dreams Manila represents an important milestone for Melco Crown Entertainment as we embark on our plans to become the leading gaming, leisure and entertainment company in Asia. We are proud to be the first integrated resort operator in Entertainment City to be awarded a regular license from the Philippines government. We believe the Philippines offers a unique opportunity to participate in the expected strong consumer-led growth in Asia and we look forward to contributing to the expansion of the Philippines as a leading, multi-faceted tourist destination in the region."
Community Support and Investment
As an employer of choice with a strong and deep heritage in Macau, we have always maintained a steadfast commitment to the long term development of our employees and support of the local community. This is highlighted by the following initiatives we have recently instituted or expanded:
• We recently announced the "Foundation Acceleration Program," a new management development program for our local employees. It aims to enhance preparedness for management responsibilities through a structured program.
• In 2009, we established Macau's first "In-house Learning Academy," offering over 200 courses each year to all our employees who are wanting to expand their education and widen their career path. These programs will now be offered to employees of local business and SMEs as a commitment to developing a longer term sustainable economic model in Macau.
• Our "Back-to-School" program, which started in 2010 in partnership with the Department of Education, is Macau's first and only in-house high school diploma program, giving our employees a chance to complete high school education.
• Our "Dare to Dream" series, which began in 2012, offered Macau youths a once-in-a-lifetime opportunity to study with international maestros including Franco Dragone, the creator of The House of Dancing Water show, legendary piano master Yundi Li, and Dame Zaha Hadid, the world-renowned architect.
City of Dreams First Quarter Results
For the quarter ended March 31, 2015, net revenue at City of Dreams was US$805.9 million compared to US$1,074.0 million in the first quarter of 2014. City of Dreams generated Adjusted EBITDA of US$235.8 million in the first quarter of 2015, representing a decrease of 31% compared to US$341.4 million in the comparable period of 2014. The decline in Adjusted EBITDA was primarily a result of lower rolling chip revenues and mass market table games revenues.
Rolling chip volume totaled US$13.5 billion for the first quarter of 2015 versus US$24.6 billion in the first quarter of 2014. The rolling chip win rate was 3.2% in the first quarter of 2015 versus 3.0% in the first quarter of 2014. The expected rolling chip win rate range is 2.7%-3.0%.
Mass market table games drop decreased to US$1,199.0 million compared with US$1,299.1 million in the first quarter of 2014. The mass market table games hold percentage was 35.9% in the first quarter of 2015 compared to 37.5% in the first quarter of 2014.
Gaming machine handle for the first quarter of 2015 was US$1,242.0 million, compared with US$1,489.7 million in the first quarter of 2014.
Total non-gaming revenue at City of Dreams in the first quarter of 2015 was US$66.7 million, compared with US$70.6 million in the first quarter of 2014.
Altira Macau First Quarter Results
For the quarter ended March 31, 2015, net revenue at Altira Macau was US$148.7 million compared to US$229.8 million in the first quarter of 2014. Altira Macau generated Adjusted EBITDA of US$6.8 million in the first quarter of 2015 compared with Adjusted EBITDA of US$34.8 million in the first quarter of 2014. The year-over-year decrease in Adjusted EBITDA was primarily a result of lower rolling chip revenues.
Rolling chip volume totaled US$7.4 billion in the first quarter of 2015 versus US$10.1 billion in the first quarter of 2014. The rolling chip win rate was 2.5% in the first quarter of 2015 versus 2.9% in the first quarter of 2014. The expected rolling chip win rate range is 2.7%-3.0%.
In the mass market table games segment, drop totaled US$159.3 million in the first quarter of 2015, a decrease from US$203.8 million generated in the comparable period in 2014. The mass market table games hold percentage was 17.2% in the first quarter of 2015 compared with 13.3% in the first quarter of 2014.
Gaming machine handle for the first quarter of 2015 was US$7.2 million.
Total non-gaming revenue at Altira Macau in the first quarter of 2015 was US$8.5 million compared with US$9.4 million in the first quarter of 2014.
Mocha Clubs First Quarter Results
Net revenue from Mocha Clubs totaled US$34.9 million in the first quarter of 2015 as compared to US$39.5 million in the first quarter of 2014. Mocha Clubs generated US$8.3 million of Adjusted EBITDA in the first quarter of 2015 compared with US$11.3 million in the same period in 2014.
The number of gaming machines in operation at Mocha Clubs averaged approximately 1,200 in the first quarter of 2015, compared to approximately 1,400 in the comparable period in 2014. The reduction in gaming machines reported by Mocha Clubs was primarily due to the closure of one club in mid-2014 and the transfer of the reporting of one club to Altira Macau in 2015, partially offset by the opening of a new Mocha club in mid-2014. The net win per gaming machine per day was US$316 in both quarters ended March 31, 2015 and 2014.
City of Dreams Manila First Quarter Results
City of Dreams Manila started operations on December 14, 2014 with its grand opening on February 2, 2015. For the first quarter of 2015, net revenue at City of Dreams Manila was US$52.7 million. City of Dreams Manila generated Adjusted EBITDA of US$2.9 million in the first quarter of 2015.
Rolling chip volume totaled US$185.5 million for the first quarter of 2015. The rolling chip win rate was negative 0.8% in the first quarter of 2015.
Mass market table games drop was US$101.8 million and the mass market table games hold percentage was 25.2% in the first quarter of 2015.
Gaming machine handle for the first quarter of 2015 was US$385.7 million.
Total non-gaming revenue at City of Dreams Manila in the first quarter of 2015 was US$20.2 million.
Other Factors Affecting Earnings
Total net non-operating expenses for the first quarter of 2015 were US$35.8 million, which mainly included interest income of US$1.8 million and interest expenses, net of capitalized interest, of US$27.0 million and other finance costs of US$12.4 million. We recorded US$36.2 million of capitalized interest during the first quarter of 2015, primarily relating to Studio City, City of Dreams Manila and the fifth hotel tower at City of Dreams. The year-on-year decrease of US$5.5 million in net non-operating expenses was primarily due to higher capitalized interest in the current quarter, partially offset by higher interest expenses resulted from the drawdown of the Studio City US$1.3 billion term loan facility.
Depreciation and amortization costs of US$110.7 million were recorded in the first quarter of 2015, of which US$14.3 million was related to the amortization of our gaming subconcession and US$16.1 million was related to the amortization of land use rights.
Financial Position and Capital Expenditure
Total cash and bank balances as of March 31, 2015 totaled US$3.2 billion, including US$0.1 billion of bank deposits with original maturity over three months and US$1.6 billion of restricted cash, primarily related to Studio City. Total debt at the end of the first quarter of 2015 was US$3.8 billion.
Capital expenditures for the first quarter of 2015 were US$456.2 million, which predominantly related to Studio City and City of Dreams Manila, as well as various projects at City of Dreams, including the fifth hotel tower.
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http://seekingalpha.com/pr/13426916-melco-crown-entertainment-announces-unaudited-first-quarter-2015-earnings
stocktrademan
10 years ago
$MPEL recent news/filings
bullish optionable
## source: finance.yahoo.com
Fri, 08 Aug 2014 13:56:00 GMT ~ Sands China: No Longer A Best Idea, Says Morgan Stanley
read full: http://blogs.barrons.com/emergingmarketsdaily/2014/08/08/sands-china-no-longer-a-best-idea-says-morgan-stanley/?mod=yahoobarrons&ru=yahoo
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Thu, 07 Aug 2014 21:32:39 GMT ~ Melco Slumps Amid Taiwan Indictments as Earnings Decline
read full: http://www.bloomberg.com/news/2014-08-07/melco-slumps-amid-taiwan-indictments-as-earnings-decline.html?cmpid=yhoo
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Thu, 07 Aug 2014 21:01:26 GMT ~ Melco Crown Entertainment Announces Unaudited Second Quarter 2014 Earnings
[at noodls] - MACAU, August 7, 2014 (GLOBE NEWSWIRE) -- Melco Crown Entertainment LimitedAsia, today reported its unaudited financial results for the second quarter of 2014. Net revenue for the second quarter of 2014 ...
read full: http://www.noodls.com/view/54406E7B8E26EB93D647DD300E8459664E22F71F
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Thu, 07 Aug 2014 21:01:20 GMT ~ Melco Crown Entertainment Announces Its Stock Repurchase Program
[at noodls] - MACAU, August 7, 2014 (GLOBE NEWSWIRE) -- Melco Crown Entertainment LimitedAsia, announced today that its Board of Directors has authorized a program to carry out on-market repurchases of up to an aggregate ...
read full: http://www.noodls.com/view/B2BBF0F492D18A6F749EA73E2BDB802B8FBE76C2
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Thu, 07 Aug 2014 20:02:00 GMT ~ SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Melco Crown Entertainment Ltd. - MPEL
[PR Newswire] - NEW YORK, Aug. 7, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Melco Crown Entertainment Ltd. ("Melco" or the "Company") (MPEL). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. The investigation concerns whether Melco and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. On August 6, 2014, Melco revealed in a U.S. Securities & Exchange Commission ("SEC") filing that Taipei prosecutors had indicted the company's Taiwan office and some of its employees for alleged violations of banking and foreign exchange laws. On this news, shares of Melco fell $1.38 per share to $28.64, or more than 4.69%, on August 6, 2014.
read full: http://finance.yahoo.com/news/shareholder-alert-pomerantz-law-firm-200200138.html
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$MPEL charts
basic chart ## source: stockcharts.com
basic chart ## source: eoddata.com
big daily chart ## source: stockcharts.com
big weekly chart ## source: stockcharts.com
$MPEL company information
## source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/MPEL/company-info
Ticker: $MPEL
OTC Market Place: Not Available
CIK code: 0001381640
Company name: Melco Crown Entertainment Ltd.
Company website: http://www.melco-pbl.com
Incorporated In: Cayman Islands
$MPEL share structure
## source: otcmarkets.com
Market Value: Not Available
Shares Outstanding: Not Available
Float: Not Available
Authorized Shares: Not Available
Par Value: 0.01
$MPEL extra dd links
Company name: Melco Crown Entertainment Ltd.
Company website: http://www.melco-pbl.com
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/MPEL/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/MPEL/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=MPEL+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=MPEL+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=MPEL+Industry
## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/MPEL/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/MPEL/news - http://finance.yahoo.com/q/h?s=MPEL+Headlines
## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/MPEL/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/MPEL/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/MPEL/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/MPEL/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/MPEL/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/MPEL/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/MPEL/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/MPEL/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=MPEL+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/MPEL
DTCC (dtcc.com): http://search2.dtcc.com/?q=Melco+Crown+Entertainment+Ltd.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Melco+Crown+Entertainment+Ltd.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Melco+Crown+Entertainment+Ltd.&x=0&y=0
WHOIS (domaintools.com): http://whois.domaintools.com/http://www.melco-pbl.com
Alexa (alexa.com): http://www.alexa.com/siteinfo/http://www.melco-pbl.com#
Corporate website internet archive (archive.org): http://web.archive.org/web/*/http://www.melco-pbl.com
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/MPEL/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/MPEL
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/MPEL/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/MPEL/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/MPEL/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001381640&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/MPEL/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/MPEL/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/MPEL/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/MPEL/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=MPEL&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=MPEL
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/MPEL/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=MPEL+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=MPEL+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=MPEL
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=MPEL
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=MPEL+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/MPEL/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=MPEL+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/MPEL.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=MPEL
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/MPEL/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/MPEL/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/MPEL/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/MPEL/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/MPEL
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/MPEL
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/MPEL:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=MPEL
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=MPEL
$MPEL DD Notes ~ http://www.ddnotesmaker.com/MPEL
MCArmel1
10 years ago
Melco Crown Entertainment misses by $0.10, misses on revenue
Aug 7 2014, 08:18 ET | About: Melco Crown Entertainment Limited (MPEL)
Melco Crown Entertainment (NASDAQ:MPEL): Q2 EPS of $0.26 misses by $0.10.
Revenue of $1.2B (-7.7% Y/Y) misses by $100M.
Shares -2.9% PM.
Press Release
http://seekingalpha.com/news/1912615-melco-crown-entertainment-misses-by-0_10-misses-on-revenue?uprof=45#email_link
Melco Crown Entertainment Announces Unaudited Second Quarter 2014 Earnings
Thu August 7, 2014 8:08 AM|GlobeNewswire | About: MPEL
MACAU, August 7, 2014 (GLOBE NEWSWIRE) -- Melco Crown Entertainment Limited (MPEL) ("Melco Crown Entertainment" or "the Company" or "we") (SEHK:6883) (Nasdaq:MPEL), a developer, owner and operator of casino gaming and entertainment resort facilities in Asia, today reported its unaudited financial results for the second quarter of 2014.
Net revenue for the second quarter of 2014 was US$1,199.5 million, representing a decrease of approximately 7% from US$1,295.0 million for the comparable period in 2013. The decline in net revenue was primarily attributable to lower group-wide rolling chip revenues, partially offset by improved mass market table games revenues.
Adjusted property EBITDA(1) was US$313.6 million for the second quarter of 2014, as compared to Adjusted property EBITDA of US$350.8 million in the second quarter of 2013. The 11% year-over-year decline in Adjusted property EBITDA was attributable to lower group-wide rolling chip volumes and rolling chip win rate, partially offset by growth in the mass market table games segment.
On a U.S. GAAP basis, net income attributable to Melco Crown Entertainment for the second quarter of 2014 was US$143.6 million, or US$0.26 per ADS, compared with net income attributable to Melco Crown Entertainment of US$181.0 million, or US$0.33 per ADS, in the second quarter of 2013. The net loss attributable to noncontrolling interests during the second quarter of 2014 of US$17.0 million related to Studio City and City of Dreams Manila.
Mr. Lawrence Ho, Co-Chairman and Chief Executive Officer of Melco Crown Entertainment, commented, "In the second quarter of 2014 we delivered solid underlying financial performance, driven primarily by our mass market table games business at City of Dreams where revenues increased approximately 38% on a year-over-year basis.
more...
http://seekingalpha.com/pr/10704605-melco-crown-entertainment-announces-unaudited-second-quarter-2014-earnings
MCArmel1
10 years ago
Billionaire Packer linked to key Strip parcel
By HOWARD STUTZ
LAS VEGAS REVIEW-JOURNAL
The long dormant site that once housed the New Frontier and was subject of the Strip’s most expensive real estate could become active once again.
Bloomberg News Service reported Thursday that Australian billionaire James Packer had acquired a portion of the loan covering the 34.5-acre site and would consider building a hotel-casino on the land.
Gaming sources declined comment on the potential project.
Union Gaming Group analyst Robert Shore told investors in a research note Thursday that “discussions, proposals, and even speculation around large-scale projects speak to ongoing and increasing interest in Las Vegas assets.”
Packer is majority owner of casino operator Crown Resorts in Australia and jointly owns Melco Crown Entertainment, a Hong Kong company that has casinos in Macau.
In April, his name surfaced as a potential buyer of the Cosmopolitan of Las Vegas. The property was sold a month later to a subsidiary of the Blackstone Group, a multinational private equity investment firm, for $1.73 billion in an all-cash transaction.
According to Bloomberg, Packer bought a piece of a loan backed by the empty Strip property and is negotiating a potential deal with other creditors including Oaktree Capital Group.
Two Israeli companies bought the New Frontier and the land across from Wynn Las Vegas for $1.2 billion — roughly $24.8 million an acre — in 2007. The aging hotel-casino was demolished.
The companies planned to build a $5 billion hotel-casino based on the Plaza Hotel in New York City, but the recession killed the project.
Oaktree, the world’s biggest distressed debt investor, now owns more than half of the abandoned project’s loans after buying the debt at a discount of as much as 50 percent, Bloomberg reported.
Alyssa Linn, a outside spokeswoman for Oaktree, said in an email to the Review-Journal the company “is declining to comment on this report.”
Packer — who has a net worth of $6.5 billion — is listed at No. 212 on the Forbes List of World Billionaires and is the No. 2 richest person in Australia. He has flirted with Las Vegas in past.
In 2009, Crown terminated a deal to purchase Cannery Casino Resorts for $1.8 billion and was forced to pay a breakup fee and other penalties totaling $320 million.
In 2007, the company ended plans for Crown Las Vegas, which was to be built on the Strip between the Sahara and Riviera. The Federal Aviation Administration rejected plans for a hotel tower of 1,888 feet, which would have been the tallest building in the Western Hemisphere.
Shore said the investment community is again looking at the Strip’s northern land parcels because of recent activity in the surrounding area.
The $415 million SLS Las Vegas — a redevelopment of the former Sahara — opens Aug. 23. MGM Resorts International announced plans to develop a 33-acre permanent open-air concert venue across from SLS Las Vegas.
Meanwhile, Malaysia-based Genting Berhad is expected to begin construction this year on the $4 billion Resorts World Las Vegas on the former Echelon site, which located next to the New Frontier parcel.
“(Packer) lends credence to the Strip recovery story, and has fueled the positive news flow centered on the North Strip in the recent months,” Shore said.
Contact reporter Howard Stutz at hstutz@reviewjournal.com or 702-477-3871. Follow @howardstutz on Twitter.
http://www.reviewjournal.com/business/casinos-gaming/billionaire-packer-linked-key-strip-parcel
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