Melco Crown reports strong growth

 

Casino revenues for Melco Crown Entertainment Ltd. climbed 39.4 percent in the second quarter from a year ago to $1.26 billion, while operating profits from the segment rose more than 50 percent. Operating profits from the City of Dreams resort complex in Macau rose 90.4 percent to $238.7 million, while Altira Macau’s results rose 96.1 percent to $33.4 million. The company said rolling chip volumes at City of Dreams rose 29.8 percent to $24.8 billion, while mass market table turnover rose 34.9 percent to $1.1 billion. Slot handle rose 64 percent to $1.2 billion.

The company also announced it is “committed to look at a regular dividend policy.” Lawrence Ho, chairman and chief executive officer of Melco Crown, said MCE would rather stick to a one-dividend policy. “It’s going to be sometime at the end of this year, early next year that we’re going to sit down and discuss.”