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Tag Archives: Altira

Taiwan – Melco Crown charged with violation of foreign exchange

The claim made by Taiwanese prosecutors that a subsidiary of Melco Crown transferred the equivalent of US$192m between Taiwan and Macau has now been made public. The Taipei District Prosecutors Office has alleged that the Taipei branch of Hong Kong-based MCE International channelled more than $NT5.4bn for high-rollers to use at Melco Crown’s City of…

China – Melco Crown shares fall on poor second-half earnings

Melco Crown Entertainment’s shares dropped to their lowest point in 11 months following disappointing second-quarter earnings. The results were announced on the same day a Taiwan subsidiary of the company was indicted for alleged foreign exchange violations. Shares in the operator, owned by Lawrence Ho and James Packer, fell by 3.9 per cent to $HK75.55,…

China – Melco Crown pays dividends for the first time

James Packer’s Crown Resorts has earned a return on its investment in Macau for the first time, after its joint venture partnership, Melco Crown, said it would begin to pay a regular dividend. After its fourth quarter results for 2013, in which net income doubled to US$223.2m Melco said it had recommended the board approve…

China – Melco polishes Crown with 24 per cent revenue increase

Revenue for Melco Crown Entertainment surged by 24 per cent in the third quarter of 2013, coming in at US$1,252.7m up from US$1,010.8m for the comparable period in 2012. The increase in net revenue was primarily attributable to improved group-wide gaming performance, particularly in the mass market table games segment. A 39 per cent year-over-year increase in Adjusted…