International edition
June 12, 2021

Visitors averaged 41,000 per day

Melco's Macau casino draws us$ 1.94 billion bets in first month

(Macau). Casino operator Melco Crown Entertainment Ltd generated about us$ 1.94 billion in total rolling chip volume in June, with 1.2 million players visiting its new Macau resort City of Dreams, said parent company Melco International Development Ltd.

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isitors averaged 41,000 per day, while the average number of rolling chip or VIP gaming tables in operation stood at 127. The casino resort recorded a mass-market table drop of about us$ 100 million in the month, with the weekly total rising by 12 % in the last week of June compared with the first, and an average of 376 mass-market gaming tables in operation.

Gaming machines generated about us$ 81 million, with about 1,320 gaming machines in operation on average, the Hong Kong-listed company said in a statement.

Shares of Hong Kong-listed Melco International fell more than 5 % to us$ 0.50 in late morning trade. Credit Suisse earlier cut its rating on the stock, as well as on its 34.06 % owned Melco Crown to "underperform" from "neutral" following the weaker-than-expected debut of its new casino in Macau.

Melco Crown's City of Dreams only won 0.8 % of the bets in the first month, compared with an expected win rate of 2.85 %. "Even having adjusted for the high-roller win percentage, City of Dreams' market share in June would have been 6.9 %, still below A street expectation of 8-10 %," Credit Suisse analyst Gabriel Chan said, cutting the target price on the stock to us$ 0.43 from us$ 0.76.

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