Net revenue 4Q at City of Dreams was US$ 488 million

The year-over-year improvements in both net revenue and Adjusted EBITDA were driven by increased gaming volume and win rates in the fourth quarter of 2010, as compared with the same measures in the fourth quarter of 2009.

Rolling chip volume totaled US$15 billion for the fourth quarter of 2010, up 65% from US$9 billion in the fourth quarter of 2009, and the rolling chip hold percentage was 2.9% in the fourth quarter of 2010 versus 2.4% of 2009. The expected rolling chips hold percentage range is 2.7%-3.0%.

Mass market (non rolling chip) table games drop increased 35% to US$572 million compared with US$423 million in the fourth quarter of 2009. The mass market win rate was 22.0% in the quarter under review and increased from 17.2% in the same period last year. At City of Dreams, we expect our mass market table games hold percentage to range from 20%-22%.

Slot handle for the quarter ended December 31, 2010 was US$513 million, up 38% from US$372.8 million generated in the quarter ended December 31, 2009.

Total non-gaming revenue at City of Dreams in the fourth quarter of 2010 was US$48 million, up from US$23 million in the fourth quarter of 2009. Occupancy per available room in the fourth quarter of 2010 was 87% versus 79% of 2009. The average daily rate (ADR) in the fourth quarter of 2010 was US$166 per occupied room, which compares with US$152 of 2009.