Melco Crown Entertainment Ltd made a net profit of US$181 million (MOP1.45 billion) in the second quarter of this year, more than twice the US$82.3 million it made a year earlier. Net revenue was up 38 percent to US$1.3 billion. Adjusted earnings before interest tax, depreciation and amortisation, or EBITDA, rose by 62 percent to US$330.1 million. The company attributed the increase to strong growth in mass-market table game business at its City of Dreams casino resort. Melco Crown boss Lawrence Ho Yau Lung says he expects work on the fifth hotel tower at City of Dreams to be finished around the end of 2016 and its Studio City casino resort project to open in mid-2015. He expects Melco Crown’s project in the Philippines to open in the middle of next year.
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