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Tag Archives: Melco Crown

Philippines – City of Dreams sees annual GGR improve by 63.5 per cent

Higher gaming volumes and better house win rate has helped drive revenues up at City of Dreams by 63.5 per cent in 2016. The increase was driven by net revenues in the last quarter of 2016 which were up by 78.9 per cent year-on-year to $144.7m. For the year ended December 31, 2016, casino operator…

Philippines – SM Investments buys into City of Dreams Manila

Melco Crown has got a new partner for its City of Dreams casino resort in the Philippines. SM Investments, a company owned by the Sy Family in Manila, has bought a controlling stake in Premium Leisure Corp for US$6.4 m, which owns half of City of Dreams Manila resort. SM is one of the largest…

Japan – Melco Crown to spend ‘whatever we need to win’ to secure Japan licence

Having unveiled plans for potential Integrated Resort Casinos in Umekita and Yumeshima, Melco Crown has come out fighting in Japan where saying it will outspend rival casino operators to win a Japanese casino licence. “We’ll absolutely spend whatever we need to win,” Chairman and Chief Executive Officer Lawrence Ho said. “Melco Crown Entertainment has always…

Philippines – Nomura tips growth for City of Dreams Manila

Japan-based credit analyst Nomura is expecting good things from City of Dreams Manila when it reports its fourth quarter results for 2016 due to resilient junket and VIP demand. Nomura Analysts Harry Curtis, Daniel Adam and Brian Dobson all predicted that the overall demand in the Manila gaming market ‘may continue to increase more than…

China – Melco Crown to drop Crown from its name

Melco Crown Entertainment has said it will drop Crown from its name after Melco International took a controlling interest by buying shares from Crown Resorts. A spokesperson at Melco said it was ‘looking forward to a new corporate entity unveiling this new chapter of the company.’ Melco agreed to buy 198,000,000 ordinary shares or 13.42…

China – Melco Crown unveils hotel brand Morpheus

Melco Crown Entertainment has unveiled a new hotel brand in Macau created for the new fifth hotel tower at City of Dreams – Morpheus, which is named after the God of Dreams. The brand differentiates itself by embodying a new contemporary, simple yet stunning, and sophisticated kind of luxury like no others. Morpheus signifies the…

China – S&P adds to speculation that Studio City could default

Credit-debt watcher Standard & Poor (S&P) Global Ratings has lowered its outlook on Melco Crown Entertainment’s fledgling Macau casino Studio City to negative amid speculation that the group could default on a US$1.41bn loan. The move by S&P came as Melco Crown officials looked to separate financial links between its various assets. A statement from…

China – Studio City helps Melco Crown to grow

The inclusion of new casino Studio City as well as an increase in City of Dreams Manila helped Melco Crown Entertainment deliver revenue for the second quarter of US$1,070.4m, representing an increase of approximately 17 from last year’s figures. The increase in net revenue was primarily attributable to the net revenue generated by Studio City,…

China – Interblock to install MiniStar at Melco’s Mocha Clubs in Macau

Interblock growing its footprint throughout the Asia Pacific region with the placement of 10 MiniStar units with eight play stations in five of Melco Crown Entertainment’s Mocha Club properties. Melco Crown Entertainment operates seven Mocha Club properties in China’s gaming mecca, Macau. Each venue is tailored to a different theme, providing their customers with an…