COD Manila reports 63.5 percent rise in revenues in 2016
Casino operator Melco Crown (Philippines) Resorts Corp. posted a 63.5 percent increase in net revenues to $491.2 million in 2016, driven by a surge in VIP rolling chip turnover.
The operator of City of Dreams (CoD) Manila made a preliminary announcement to the Philippines Stock Exchange on Monday, noting that adjusted property EBITDA was $160.3 million in 2016, compared to $55.4 million in 2015.
Melco said the improvement in EBITDA was primarily a result of increased casino revenues.
VIP rolling chip volume surged by 110.1 percent in 2016 to $6.8 billion.
Mass market saw a 24.6 percent increase to $550.5 million, compared to $441.4 million in 2015.
Total non-gaming revenue at City of Dreams Manila was $104.7 million, compared with $100.1 million in the prior year.
Singapore police have busted at least two illegal gambling operations in the past week, while across Asia authorities have moved to stamp out illicit activities, from raids on premier league matches in India, to illegal number forecasting in Malaysia.