Melco announced its annual results for 2014

Highlights

Melco International Development has maintained steady growth with remarkable progress made on its exciting development pipeline in Macau and overseas. Profit attributable to owners of the Company was US$ 191.7 million for the year ended 31 December 2014.

The Board distributed an interim dividend of us$ 14.9 cents per share (six-month period ended 30 June 2013: Nil) and recommended a final dividend of us$ 9.6 cents per share for the year ended 31 December 2014. The total dividends for the year amounted to us$ 24.6 cents per share (2013: us$ 26.8 cents per share), in an aggregate amount of HK$297.2 million, represents approximately 20% of the profit attributable to the owners of the Company for the year ended 31 December 2014.
Core Gaming and Macau business units under the Group’s major associate, Melco Crown Entertainment,  delivered a stable financial performance despite the challenges encountered. Net revenue and Adjusted property EBITDA amounted to US$4.8 billion and US$1,285.5 million respectively.

The successful opening of City of Dreams Manila marks another milestone in the Group’s expansion in Asia and extended the City of Dreams brand overseas for the first time.

City of Dreams’ world-class leisure and entertainment offerings are to be further enhanced with the addition of the expanded retail area, which is currently under development and set to open in the first half of 2016.

Studio City, the Hollywood-inspired gaming and entertainment complex, remains on track to open in Macau in the third quarter of 2015. Adding to the excitement, a special short movie set around a Studio City storyline, “The Audition,” was produced in collaboration with acclaimed Hollywood icons.

The Group is pushing forward with projects in its pipeline, including a gaming and resort development project, in which Melco has an interest, scheduled to open in Russia’s Primorye Region in 2015 and the pursuit of casino projects in Barcelona, Spain as well as the Republic of Georgia.

Melco maintained a healthy financial position during the year with gearing ratio recorded at 10% as of 31 December 2014 and 2013.