Melco Crown Entertainment’s Q3 net profit drops

Macau casino operator Melco Crown Entertainment Ltd says it made a net profit of US$132.2 million (MOP1.06 billion) in the third quarter of this year, having made US$179.4 million a year earlier. The company’s third-quarter net revenue fell by 10 percent to US$1.12 billion. It attributed the fall to lower rolling chip revenue, offset in part by higher revenue from mass-market table games. Its adjusted property earnings before interest, tax, depreciation and amortisation fell by 10 percent to US$305.7 million. Co-chairman and chief executive Lawrence Ho said: “We delivered solid operating and financial metrics, despite a challenging rolling chip environment in Macau, driven by a strong performance in our mass-market operations at City of Dreams in Macau.”