Mass market table games at City of Dreams, operated by Melco Crown Entertainment, helped boost Melco International Development’s first half net revenue for 2014 to $2.56 billion, representing growth of 4.8 percent. Adjusted property EBITDA reached $701.1 million, an increase of 8.6 percent over the previous half year. Mass market table games drop at City of Dreams increased by 22.4 percent to $2.63 billion compared with $2.15 billion in the first half of 2013. Total non-gaming revenue rose to $137.8 million in the first half of 2014, boosted by the addition of new amenities such as SOHO, an innovative dining and entertainment experience.
Melco Crown’s Studio City is on track to open in mid-2015, while preparation work on the fifth and final hotel tower at City of Dreams, designed by award-winning architect Dame Zaha Hadid, is underway and expected to open in early 2017.
Internationally, the integrated resort investment partnership with Summit Ascent Holdings in Russia’s Primorye region will open in the last quarter of 2014, and City of Dreams (COD) Manila is also set to open later this year. COD Manila will feature a wide array of accommodations including the luxurious Crown Towers hotel, the trendsetting Nobu Hotel, and the business/leisure traveler-focused Hyatt City of Dreams Manila. The company has also announced a collaboration with DreamWorks Animation to develop the world’s first DreamWorks-inspired “Edutainment” center featuring an education-based interactive entertainment concept to offer an unique family attraction in the Philippines.
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