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9 September 2010 16:43
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Melco Crown Entertainment 4th-Qtr Loss Widens Print E-mail
crown.jpgMacau, China, 3 Feb - Macau-based Casino operator Melco Crown Entertainment Ltd. said Tuesday that its fourth-quarter loss widened as revenue climbed - helped by the opening of a new casino - but the company's results were hurt by a large depreciation and amortization charge.

For the quarter ended Dec. 31, Melco Crown reported a loss of US$ 89.7 million, compared with a loss of US$ 18.9 million, in the same quarter last year, according to CNN Money

Revenue rose 58 percent to US$ 400.2 million, missing analysts' forecast of US$ 447.8 million.

The company also said it had US$ 71.2 million in depreciation and amortization costs and US$ 15.4 million in interest expenses during the quarter.

For the full year, Melco Crown reported a loss of US$ 308.5 million, compared with a loss of US$ 2.5 million in 2008.

Revenue fell 6 percent to US$ 1.33 billion from US$ 1.42 billion.

(MacauNews)
 
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