However, the firm recorded a net loss of us$ 78.6 million for the first half
Macau gaming business delivers gains for Melco
(Macau).- Melco International reported a first-half underlying profit of us$ 2 million, a turnaround from a loss of us$ 41.3 million the previous year, thanks to its improved Macau gaming business.
2008-09-02
Reading time 20 seg
However, the company recorded a net loss, including revaluation items, for the six months ended June 30 of us$ 78.6 million, plunging from a net profit of us$ 36.3 million a year ago.
The loss was mainly due to a writedown of us$ 40 million in respect to interests in its associates.
The company's Macau gaming business, operated through Nasdaq-listed Melco Crown Entertainment Ltd, saw a major turnaround, contributing a first-half profit of us$ 16.7 million, compared to a us$ 38.1 million loss a year ago.
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