Saturday, July 02, 2022

Losses widen at Melco Crown’s Philippines casino


Casino operator Melco Crown Entertainment reported an increase in losses for its Philippines casino resort in 2015. 

City of Dreams Manila, Melco’s first foray into Philippines, incurred net losses of P9.1 billion (US$259 million) for the year, widening by 45 percent compared to P6.3 billion in 2014.

Casino revenues grew to P11.9 billion from P300 million, whilst net operating revenue rose to P13.7 billion from P430 million.

Melco said the loss was a result of operating costs and expenses from its first full year of operations.

"I think some of the macro problems in Manila are not dissimilar to what we face in Macau, which are kind of infrastructure led issues," said Melco chief executive Lawrence Ho in an earnings call in February.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

3rd party / Cookies
Show settings
Contact us

ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264

Asia Gaming Brief