Macau Daily Blog and News » Melco Crown

Melco PBL Tops Out Hard Rock Hotel and City of Dreams

admin — Wed, 02 Apr 2008 01:53:02 +0000

PBL Entertainment (Macau) Limited topped out the Hard Rock hotel and the main podium of its mega-project City of Dreams in Cotai, Macau today.

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Melco International Development Profit Falls 5%

admin — Tue, 01 Apr 2008 00:36:00 +0000

Ahead of it’s City of Dreams Topping-out Ceremony on 1 April 2008 at 12.10pm, comes the the news that casino operator Melco International Development Ltd. said Monday that its 2007 net profit fell 5 percent because of a one-off gain in the previous year.

The Hong Kong-listed company said its net profit in the 12 months ended Dec. 31 was HK$2.69 billion (US$346 million; ?219 million), down from HK$2.84 billion in 2006.

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Crown Macau: the new VIP king

Editor — Sun, 30 Mar 2008 13:25:23 +0000

Congratulations to the Crown Macau on its dramatic turnaround. The six-star hotel casino continues to gain market share, particularily in the high-end VIP segment. One Wall Street gaming analyst recently wrote:
“Thanks to A-Max’s junkets, Melco PBL’s market share improved substantially from 5.7 per cent in November to 18.1 per cent in February, making Crown Macau [...]

Crown Macau Turns VIP Tables Volume to Largest in the World

a2zCasino — Wed, 26 Mar 2008 01:35:35 +0000

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!

Please tell me more! »

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Crown Macau Now Busiest Casino in the World!

admin — Wed, 26 Mar 2008 01:27:58 +0000

City of Dreams Complex

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Deutsche Bank Gives Melco PBL the Thumbs Up

a2zCasino — Thu, 13 Mar 2008 15:34:00 +0000

Deutsche Bank has given James Packer’s jointly owned Melco PBL a big vote of confidence, upgrading its first-quarter earnings estimates by 43 per cent. “After our first visit to Macau, we remain bullish on the phenomenal growth in Crown’s VIP business,” analysts from the investment bank said.

Deutsche Bank estimates that Melco’s Crown Macau casino achieved a rolling turnover of almost $HK50 billion ($6.9 billion) last month, representing about 23 per cent of Macau’s VIP play. Deutsche raised its first-quarter earnings before interest depreciation and amortisation (EBITDA) by 43 per cent to $70million.

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Melco PBL Losses Narrows Thanks to Crown Macau

admin — Fri, 22 Feb 2008 01:57:28 +0000

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.

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Crown Macau Wins Prestiges Design Award

admin — Tue, 05 Feb 2008 00:41:20 +0000

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.

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SJM to Develop Six More Macau Casinos, Including Cotai Strip

admin — Sun, 27 Jan 2008 05:58:29 +0000

SJM, which operates 18 of Macau’s 28 casinos, has been trying to list it’s IPO with aims to raise US$1 billion by selling a 25 percent stake. SJM, which once had a monopoly on Macau gambling, accounted for 42 percent of the territory’s gaming revenue at the end of last year. This percentage is expected to drop to around 20 percent next year, apparently during the first two weeks of 2008 SJM’s share has reportedly dropped to 31 percent. On top of this profit for 2007 is expected to have fallen about 50 percent to US$156 million, down from US$312.5 million a year earlier, this surely must hurt them!

So where does this leave Dr Stanley Ho’s empire, well SJM/STDM has plans to over the next three years to spend more than US$1.4 billion on six new projects. This investment compared to what Galaxy, Melco PBL, Las Vegas Sands and Wynn are spending on their casinos is really peanuts! Please tell me more! »

Melco PBL Shares Tumbles 50%

admin — Fri, 18 Jan 2008 01:05:01 +0000

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.

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