Macau is fast overtaking its rival Hong Kong as the fastest-growing area for residential hotel and retail property prices.

One of the largest projects is the US$2.1 billion City of Dreams being built by Leighton Asia, China State and John Holland, on behalf of the Melco PBL development company - owned by Lawrence Ho’s Melco gambling company and James Packer’s Crown group.

Please tell me more! »

Posted in City of Dreams, Crown Macau, Four Seasons Macau, Grand Lisboa, Marriott Cotai, Sofitel Ponte 16, Venetian Macao No Comments »

Hot on the heels of our precious invitation from Melco PBL to attend the City of Dreams Topping-out Ceremony on 1 April 2008 at 12.10pm, comes the surprising news about James Packer’s Crown Macau enjoying a huge turn-around, making it the busiest casino in the world in terms of betting volume!

City of Dreams Complex

Please tell me more! »

Posted in City of Dreams, Crown Macau, Galaxy Entertainment, James Packer, Lawrence Ho, Melco PBL, Stanley Ho, Theatre of Dreams No Comments »

Melco PBL Entertainment Ltd., a developer and owner of casinos and resorts in Macau, said Tuesday its fourth-quarter loss narrowed, helped by results from its Crown Macau casino.The company’s quarterly loss narrowed to $36.5 million, or 3 cents per share, compared with a loss of $53 million, or 5 cents per share in the prior-year quarter. Analysts polled by Thomson Financial expected a break-even results.

Revenue rose to $179.8 million, from $17.9 million last year. Crown Macau revenue totaled $153.6 million.

Please tell me more! »

Posted in Crown Macau, Melco PBL No Comments »

Melco PBL Entertainment (Macau) Limited, a developer and owner of gaming and entertainment resort facilities, announced that its luxury hotel and casino “Crown Macau“, has won the “Best Casino Interior Design Award” in the 1st “International Gaming Awards 2008″ recently held in London, UK.

Please tell me more! »

Posted in Asia Casinos, Crown Macau, James Packer, Lawrence Ho, Macau Business, Macau Casino, Melco PBL No Comments »

Melco PBL continues to lose favour with investors, having lost 50 per cent of its value in the past three months. The slide continued in the US, when the shares fell a further 3.8 per cent to close at $US9.95, slightly above a record low $US9.49 last Tuesday.

The fall has been attributed to various factors including uncertainty surrounding predicted earnings due to a flurry of casino and hotel openings squeezing revenues, a $US400 million ($452 million) shortfall in development funds, and fears of Chinese authorities changing gambling policies arbitrarily, according to the Sydney Morning Herald yesterday. Melco PBL has also delayed the final purchase of the land for the third project on the Macau Peninsula, Trinity, and says it is unlikely to secure the land until the middle of this year.

Please tell me more! »

Posted in City of Dreams, Crown Macau, James Packer, Macau Business, Melco PBL No Comments »

A decision to change where some of Macau’s top junket operators bring their big-spending customers could be troublesome for Las Vegas Sands Corp. and Wynn Resorts Ltd.

Ten Macau gambling representatives signed a new agreement this month to take their high rollers to the Crown Macau, which opened in May. The casino is operated by Melco PBL, a joint venture between Australian tycoon James Packer and Hong Kong businessman Lawrence Ho, son of Macau casino pioneer Stanley Ho.

Please tell me more! »

Posted in Cotai Strip, Crown Macau, Macau Casino, Venetian Macao, Wynn Macau No Comments »

A strong relationship with the government and a new direction for the Crown Macau is upholding the confidence of Melco PBL Entertainment’s CEO, Lawrence Ho, in the company’s future in Asia’s Las Vegas.

Earlier this month Melco PBL announced a USD142 million loss for the nine months ending September 30. The third quarter saw the company lose USD45.2 million, five times the loss sustained in the same period last year.

Please tell me more! »

Posted in City of Dreams, Cotai Strip, Crown Macau, Lawrence Ho, Melco PBL, Theatre of Dreams No Comments »

Melco PBL Entertainment (Macau) Limited, a developer and owner of casino gaming and entertainment resort facilities focused exclusively on the Macau market, today reported financial results for the third quarter and nine months ended September 30, 2007. Lawrence Ho, Chief Executive Officer and Co-Chairman of Melco PBL Entertainment, commented, “The third quarter was a transitional period for Crown Macau as the property became fully activated from late July.

Hold adjusted property EBITDA has grown each month during the third quarter, and we are excited by our continued progress in expanding the business. VIP rolling chip volume has shown excellent growth, progressing from US$1.375 billion in July to over US$2.5 billion for the month of October. Based on our estimation for the month of October, Crown Macau’s combined VIP and mass table game market share of the whole market was approximately 8%, continuing the positive growth trend and despite the introduction of a major new entrant into the market.

Please tell me more! »

Posted in City of Dreams, Crown Macau, James Packer, Lawrence Ho, Macau Casino, Melco PBL, Theatre of Dreams 1 Comment »