Melco Crown Q1 earnings drop to US$253.3 mln

2015/5/8

From:Macau Business

Macau casino operator Melco Crown Entertainment Ltd’s adjusted property earnings before interest, tax, depreciation and amortisation fell to US$253.3 million (about MOP2.03 billion) in the first quarter of this year, 35 percent less than a year earlier.

Melco Crown announced that its first-quarter net revenue contracted by about 22 percent to US$1.05 billion.

The company attributes the decline in its earnings to lower rolling chip turnover and a lower win rate in the VIP gaming market, and less mass-market business.

Co-chairman and chief executive Lawrence Ho said his company was “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”.

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