Melco Crown Entertainment Q3 Profit Rises, Revenue Up 24% - Quick Facts

(RTTNews) - Melco Crown Entertainment Limited (MPEL), a developer and owner of casino gaming and entertainment resort facilities in Asia, Tuesday said third-quarter net income attributable to the company increased to $179.4 million or $0.323 per ADS from $104.9 million or $0.19 per ADS in the third quarter of 2012.

Adjusted net income attributable to the company per ADS was $0.336 while it totaled $0.199 last year.

On average, 10 analysts polled by Thomson Reuters expected earnings of $0.31 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenue climbed 24 percent to $1.253 billion from $1.011 billion, primarily due to improved group-wide gaming performance, particularly in the mass market table games segment. Analysts expected revenues of $1.23 billion.

Lawrence Ho, CEO, said, ''Our committed focus on the mass market segments, particularly at the higher end of the market where we have a significant competitive advantage, continues to drive our Company's overall profitability and outperformance in the mass market table games segment. Our premium mass offerings continue to lead the way in Macau...''