Melco Crown posts record net income
Net revenue for the third quarter of 2011 was us$ 1.06 billion, representing an increase of approximately 45 percent year-on-year. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) was us$ 240.3 million, up by 76 %.
Lawrence Ho, co-chairman and CEO of Melco Crown Entertainment, said the Studio City project continues to move closer towards realization. “We are nearing the final stages of our design plans, while working closely with the Macau government to complete the necessary approval process. We also continue to evaluate financing plans in relation to this project, including a bank loan and other debt financing.”
In relation to the previously announced proposed dual-listing on the Hong Kong stock exchange, “we continue to work through the necessary steps with the relevant Hong Kong regulators, while at the same time monitoring the market conditions to ensure we maintain full flexibility as it relates to our capital structure,” Ho said.
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