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MCE_2Q 2013 Earnings Release 476.6 KB
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Net revenue for the second quarter of 2013 was
Adjusted EBITDA(1) was
On a U.S. GAAP basis, net income attributable to
Mr.
"Highlighting the ideal strategic positioning of our flagship property, City of Dreams, this premium-mass focused property once again captured meaningful market share in the mass market table games segment which, in turn, has been the major driver of our impressive group-wide performance in the second quarter of 2013. City of Dreams' unique ability to cater towards these highly discerning, premium mass market-focused customers is highlighted by our market-leading mass table yields, which is increasingly important in a table supply constrained market.
"We continue to move forward with the fifth hotel tower at City of Dreams and anticipate to commence construction by the end of 2013. This iconic additional hotel tower represents another powerful addition to our wide array of amenities and attractions that City of Dreams already offers its premium-mass and high end customers, providing another tool to further extend our leading position in this key segment.
"Altira Macau also delivered robust sequential EBITDA growth in the second quarter of 2013, with increased rolling chip volumes and expanding table yields highlighting the success of our continual group-wide table yield optimization strategy, ensuring we allocate tables to maximize overall company profitability.
"Our development pipeline continues to progress, with Studio City on-budget and on-track to open in mid-2015, while the timing of our
"
City of Dreams Second Quarter Results
For the quarter ended
The strong year-over-year improvement in Adjusted EBITDA was primarily a result of substantial growth in mass market table games volumes and an improved mass market table games hold percentage together with strong growth in rolling chip volumes and a higher rolling chip win rate.
Rolling chip volume totaled
Mass market table games drop increased 35% to
Slot handle for the second quarter of 2013 was
Total non-gaming revenue at City of Dreams in the second quarter of 2013 was
Altira Macau Second Quarter Results
For the quarter ended
Rolling chip volume totaled
In the mass market table games segment, drop totaled
Total non-gaming revenue at Altira Macau in the second quarter of 2013 was
Mocha Clubs Second Quarter Results
For the quarter ended
The number of gaming machines in operation at
The Philippines Project Second Quarter Results
On a fully consolidated basis, we incurred approximately
Other Factors Affecting Earnings
Total non-operating expense for the second quarter of 2013 was
Depreciation and amortization costs of
Financial Position and Capital Expenditure
Cash and cash equivalents as of
As at
Capital expenditures for the second quarter of 2013 were
Six Months' Results
For the six months ending
Adjusted EBITDA for the first six months of 2013 was
On a U.S. GAAP basis, net income attributable to Melco Crown Entertainment for the first six months of 2013 was
Conference Call Information
US Toll Free | 1 866 519 4004 |
US Toll / International | 1 845 675 0437 |
HK Toll | 852 2475 0994 |
HK Toll Free | 800 930 346 |
UK Toll Free | 080 823 46646 |
Australia Toll Free | 1 800 457 076 |
Philippines Toll Free | 1 800 165 10607 |
Passcode | MPEL |
An audio webcast will also be available at www.melco-crown.com.
To access the replay, please use the dial-in details below:
US Toll Free | 1 855 452 5696 |
US Toll / International | 1 646 254 3697 |
HK Toll Free | 800 963 117 |
Philippines Toll Free | 1 800 161 20166 |
Conference ID | 22636948 |
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. The Company may also make written or oral forward-looking statements in its periodic reports to the
Non-GAAP Financial Measures
(1) "Adjusted EBITDA" is earnings before interest, taxes, depreciation, amortization, pre-opening costs, development costs, property charges and others, share-based compensation, other non-operating income and expenses and net loss attributable to non-controlling interests. "Adjusted property EBITDA" is earnings before interest, taxes, depreciation, amortization, pre-opening costs, development costs, property charges and others, share-based compensation, corporate and others expenses, other non-operating income and expenses and net loss attributable to non-controlling interests. Adjusted EBITDA and adjusted property EBITDA are presented exclusively as a supplemental disclosure because management believes that they are widely used to measure the performance, and as a basis for valuation, of gaming companies. Management uses adjusted EBITDA and adjusted property EBITDA as measures of the operating performance of its segments and to compare the operating performance of its properties with those of its competitors. The Company also presents adjusted EBITDA and adjusted property EBITDA because they are used by some investors as ways to measure a company's ability to incur and service debt, make capital expenditures, and meet working capital requirements. Gaming companies have historically reported adjusted EBITDA and adjusted property EBITDA as supplements to financial measures in accordance with U.S. generally accepted accounting principles ("GAAP"). However, adjusted EBITDA and adjusted property EBITDA should not be considered as alternatives to operating income as indicators of the Company's performance, as alternatives to cash flows from operating activities as measures of liquidity, or as alternatives to any other measure determined in accordance with GAAP. Unlike net income, adjusted EBITDA and adjusted property EBITDA do not include depreciation and amortization or interest expense and therefore do not reflect current or future capital expenditures or the cost of capital. The Company compensates for these limitations by using adjusted EBITDA and adjusted property EBITDA as only two of several comparative tools, together with GAAP measurements, to assist in the evaluation of operating performance. Such GAAP measurements include operating income, net income, cash flows from operations and cash flow data. The Company has significant uses of cash flows, including capital expenditures, interest payments, debt principal repayments, taxes and other non-recurring charges, which are not reflected in adjusted EBITDA or adjusted property EBITDA. Also, the Company's calculation of adjusted EBITDA and adjusted property EBITDA may be different from the calculation methods used by other companies and, therefore, comparability may be limited. Reconciliations of adjusted EBITDA and adjusted property EBITDA with the most comparable financial measures calculated and presented in accordance with GAAP are provided herein immediately following the financial statements included in this press release.
(2) "Adjusted net income" is net income before pre-opening costs, development costs, property charges and others, change in fair value of interest rate swap agreements, loss on extinguishment of debt and costs associated with debt modification. Adjusted net income and adjusted net income per share ("EPS") are presented as supplemental disclosures because management believes that they are widely used to measure the performance, and as a basis for valuation, of gaming companies. These measures are used by management and/or evaluated by some investors, in addition to income and EPS computed in accordance with GAAP, as an additional basis for assessing period-to-period results of our business. Adjusted net income may be different from the calculation methods used by other companies and, therefore, comparability may be limited. Reconciliations of adjusted net income with the most comparable financial measures calculated and presented in accordance with GAAP are provided herein immediately following the financial statements included in this press release.
About
Investment Community, please contact: |
Ross Dunwoody |
Vice President, Investor Relations |
Tel: +853 8868 7575 or +852 2598 3689 |
Email: rossdunwoody@melco-crown.com |
For media enquiry, please contact: |
Maggie Ma |
Head of Corporate Communications |
Tel: +853 8868 3767 or +852 3151 3767 |
Email: maggiema@melco-crown.com |
Melco Crown Entertainment Limited and Subsidiaries | ||||
Condensed Consolidated Statements of Operations | ||||
(In thousands of U.S. dollars, except share and per share data) | ||||
Three Months Ended | Six Months Ended | |||
June 30, | June 30, | |||
2013 | 2012 | 2013 | 2012 | |
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |
OPERATING REVENUES | ||||
Casino | $ 1,263,336 | $ 905,962 | $ 2,373,779 | $ 1,896,834 |
Rooms | 31,414 | 28,040 | 62,348 | 57,468 |
Food and beverage | 18,024 | 15,732 | 37,888 | 32,696 |
Entertainment, retail and others | 23,118 | 21,379 | 45,930 | 43,027 |
Gross revenues | 1,335,892 | 971,113 | 2,519,945 | 2,030,025 |
Less: promotional allowances | (40,881) | (32,601) | (79,993) | (64,655) |
Net revenues | 1,295,011 | 938,512 | 2,439,952 | 1,965,370 |
OPERATING COSTS AND EXPENSES | ||||
Casino | (882,651) | (658,622) | (1,672,746) | (1,361,698) |
Rooms | (2,881) | (3,456) | (6,009) | (7,586) |
Food and beverage | (5,863) | (6,359) | (13,880) | (14,365) |
Entertainment, retail and others | (15,089) | (16,416) | (31,068) | (30,764) |
General and administrative | (61,256) | (52,222) | (117,833) | (108,631) |
Pre-opening costs | (4,716) | (2,215) | (6,646) | (3,300) |
Development costs | (2,888) | (568) | (19,985) | (568) |
Amortization of gaming subconcession | (14,310) | (14,310) | (28,619) | (28,619) |
Amortization of land use rights | (16,115) | (14,335) | (32,040) | (28,318) |
Depreciation and amortization | (66,105) | (65,343) | (130,705) | (132,128) |
Property charges and others | (3,473) | (447) | (3,697) | (3,616) |
Total operating costs and expenses | (1,075,347) | (834,293) | (2,063,228) | (1,719,593) |
OPERATING INCOME | 219,664 | 104,219 | 376,724 | 245,777 |
NON-OPERATING EXPENSES | ||||
Interest expenses, net | (39,093) | (22,789) | (80,478) | (46,062) |
Other finance costs | (11,436) | (3,488) | (20,793) | (6,982) |
Change in fair value of interest rate swap agreements | -- | -- | -- | 363 |
Foreign exchange (loss) gain, net | (5,399) | (435) | (9,822) | 1,639 |
Other income, net | 360 | 624 | 360 | 1,134 |
Loss on extinguishment of debt | -- | -- | (50,935) | -- |
Costs associated with debt modification | -- | -- | (10,538) | -- |
Total non-operating expenses | (55,568) | (26,088) | (172,206) | (49,908) |
INCOME BEFORE INCOME TAX | 164,096 | 78,131 | 204,518 | 195,869 |
INCOME TAX CREDIT | 392 | 281 | 1,356 | 1,042 |
NET INCOME | 164,488 | 78,412 | 205,874 | 196,911 |
NET LOSS ATTRIBUTABLE TO | ||||
NONCONTROLLING INTERESTS | 16,557 | 3,850 | 28,947 | 7,442 |
NET INCOME ATTRIBUTABLE TO | ||||
MELCO CROWN ENTERTAINMENT LIMITED | $ 181,045 | $ 82,262 | $ 234,821 | $ 204,353 |
NET INCOME ATTRIBUTABLE TO | ||||
MELCO CROWN ENTERTAINMENT LIMITED PER SHARE: | ||||
Basic | $ 0.110 | $ 0.050 | $ 0.142 | $ 0.124 |
Diluted | $ 0.109 | $ 0.050 | $ 0.141 | $ 0.123 |
NET INCOME ATTRIBUTABLE TO | ||||
MELCO CROWN ENTERTAINMENT LIMITED PER ADS: | ||||
Basic | $ 0.329 | $ 0.150 | $ 0.427 | $ 0.373 |
Diluted | $ 0.327 | $ 0.149 | $ 0.424 | $ 0.370 |
WEIGHTED AVERAGE SHARES USED IN | ||||
NET INCOME ATTRIBUTABLE TO | ||||
MELCO CROWN ENTERTAINMENT LIMITED | ||||
PER SHARE CALCULATION: | ||||
Basic | 1,649,707,709 | 1,645,671,541 | 1,648,598,729 | 1,644,388,593 |
Diluted | 1,663,010,423 | 1,657,320,954 | 1,662,965,016 | 1,657,367,600 |
Melco Crown Entertainment Limited and Subsidiaries | ||
Condensed Consolidated Balance Sheets | ||
(In thousands of U.S. dollars) | ||
June 30, | December 31, | |
2013 | 2012 | |
(Unaudited) | (Audited) | |
ASSETS | ||
CURRENT ASSETS | ||
Cash and cash equivalents | $ 1,959,060 | $ 1,709,209 |
Restricted cash | 701,346 | 672,981 |
Accounts receivable, net | 295,074 | 320,929 |
Amounts due from affiliated companies | 75 | 1,322 |
Amount due from a shareholder | 47 | -- |
Deferred tax assets | 83 | -- |
Income tax receivable | 392 | 266 |
Inventories | 17,704 | 16,576 |
Prepaid expenses and other current assets | 34,803 | 27,743 |
Total current assets | 3,008,584 | 2,749,026 |
PROPERTY AND EQUIPMENT, NET | 3,016,788 | 2,684,094 |
GAMING SUBCONCESSION, NET | 513,649 | 542,268 |
INTANGIBLE ASSETS, NET | 4,220 | 4,220 |
GOODWILL | 81,915 | 81,915 |
LONG-TERM PREPAYMENTS, DEPOSITS AND OTHER ASSETS | 205,088 | 88,241 |
RESTRICTED CASH | 373,672 | 741,683 |
DEFERRED TAX ASSETS | 118 | 105 |
DEFERRED FINANCING COSTS | 120,863 | 65,930 |
LAND USE RIGHTS, NET | 983,737 | 989,984 |
TOTAL ASSETS | $ 8,308,634 | $ 7,947,466 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
CURRENT LIABILITIES | ||
Accounts payable | $ 9,690 | $ 13,745 |
Accrued expenses and other current liabilities | 885,439 | 850,841 |
Income tax payable | 1,556 | 1,191 |
Capital lease obligation, due within one year | 25,360 | -- |
Current portion of long-term debt | 262,477 | 854,940 |
Amounts due to affiliated companies | 1,158 | 949 |
Total current liabilities | 1,185,680 | 1,721,666 |
LONG-TERM DEBT | 2,402,198 | 2,339,924 |
OTHER LONG-TERM LIABILITIES | 12,959 | 7,412 |
DEFERRED TAX LIABILITIES | 64,659 | 66,350 |
CAPITAL LEASE OBLIGATION, DUE AFTER ONE YEAR | 252,839 | -- |
LAND USE RIGHTS PAYABLE | 62,765 | 71,358 |
SHAREHOLDERS' EQUITY | ||
Ordinary shares | 16,621 | 16,581 |
Treasury shares | (5,142) | (113) |
Additional paid-in capital | 3,469,170 | 3,235,835 |
Accumulated other comprehensive losses | (9,531) | (1,057) |
Retained earnings | 369,514 | 134,693 |
Total Melco Crown Entertainment Limited shareholders' equity | 3,840,632 | 3,385,939 |
Noncontrolling interests | 486,902 | 354,817 |
Total equity | 4,327,534 | 3,740,756 |
TOTAL LIABILITIES AND EQUITY | $ 8,308,634 | $ 7,947,466 |
Melco Crown Entertainment Limited and Subsidiaries | ||||
Reconciliation of Net Income Attributable to Melco Crown Entertainment Limited to | ||||
Adjusted Net Income Attributable to Melco Crown Entertainment Limited | ||||
(In thousands of U.S. dollars, except share and per share data) | ||||
Three Months Ended | Six Months Ended | |||
June 30, | June 30, | |||
2013 | 2012 | 2013 | 2012 | |
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |
Net Income Attributable to | ||||
Melco Crown Entertainment Limited | $ 181,045 | $ 82,262 | $ 234,821 | $ 204,353 |
Pre-opening Costs | 4,716 | 2,215 | 6,646 | 3,300 |
Development Costs | 2,888 | 568 | 19,985 | 568 |
Property Charges and Others | 3,473 | 447 | 3,697 | 3,616 |
Change in fair value of interest rate swap agreements | -- | -- | -- | (363) |
Loss on extinguishment of debt | -- | -- | 50,935 | -- |
Costs associated with debt modification | -- | -- | 10,538 | -- |
Adjusted Net Income Attributable to | ||||
Melco Crown Entertainment Limited | $ 192,122 | $ 85,492 | $ 326,622 | $ 211,474 |
ADJUSTED NET INCOME ATTRIBUTABLE TO | ||||
MELCO CROWN ENTERTAINMENT LIMITED PER SHARE: | ||||
Basic | $ 0.116 | $ 0.052 | $ 0.198 | $ 0.129 |
Diluted | $ 0.116 | $ 0.052 | $ 0.196 | $ 0.128 |
ADJUSTED NET INCOME ATTRIBUTABLE TO | ||||
MELCO CROWN ENTERTAINMENT LIMITED PER ADS: | ||||
Basic | $ 0.349 | $ 0.156 | $ 0.594 | $ 0.386 |
Diluted | $ 0.347 | $ 0.155 | $ 0.589 | $ 0.383 |
WEIGHTED AVERAGE SHARES USED IN ADJUSTED | ||||
NET INCOME ATTRIBUTABLE TO | ||||
MELCO CROWN ENTERTAINMENT LIMITED | ||||
PER SHARE CALCULATION: | ||||
Basic | 1,649,707,709 | 1,645,671,541 | 1,648,598,729 | 1,644,388,593 |
Diluted | 1,663,010,423 | 1,657,320,954 | 1,662,965,016 | 1,657,367,600 |
Melco Crown Entertainment Limited and Subsidiaries | |||||||
Reconciliation of Operating Income (Loss) to Adjusted EBITDA and Adjusted Property EBITDA | |||||||
(In thousands of U.S. dollars) | |||||||
Three Months Ended June 30, 2013 | |||||||
Altira Macau |
Mocha |
City of Dreams |
Studio City |
Philippines Project |
Corporate and Others |
Total |
|
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |
Operating Income (Loss) | $ 33,444 | $ 6,570 | $ 238,690 | $ (11,946) | $ (6,302) | $ (40,792) | $ 219,664 |
Pre-opening Costs | -- | -- | 369 | 748 | 3,581 | 18 | 4,716 |
Development Costs | -- | -- | -- | -- | 2,127 | 761 | 2,888 |
Depreciation and Amortization | 7,891 | 2,946 | 57,871 | 10,883 | 306 | 16,633 | 96,530 |
Share-based Compensation | 37 | 22 | 243 | -- | 63 | 2,454 | 2,819 |
Property Charges and Others | -- | 224 | 3,000 | -- | -- | 249 | 3,473 |
Adjusted EBITDA | 41,372 | 9,762 | 300,173 | (315) | (225) | (20,677) | 330,090 |
Corporate and Others Expenses | -- | -- | -- | -- | -- | 20,677 | 20,677 |
Adjusted Property EBITDA | $ 41,372 | $ 9,762 | $ 300,173 | $ (315) | $ (225) | $ -- | $ 350,767 |
Three Months Ended June 30, 2012 | |||||||
Altira Macau |
Mocha |
City of Dreams |
Studio City |
Philippines Project |
Corporate and Others |
Total |
|
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |
Operating Income (Loss) | $ 17,048 | $ 5,357 | $ 125,408 | $ (10,041) | $ -- | $ (33,553) | $ 104,219 |
Pre-opening Costs | -- | -- | 1,620 | 595 | -- | -- | 2,215 |
Development Costs | -- | -- | -- | -- | -- | 568 | 568 |
Depreciation and Amortization | 8,916 | 3,240 | 57,092 | 9,422 | -- | 15,318 | 93,988 |
Share-based Compensation | 23 | 37 | 147 | -- | -- | 2,203 | 2,410 |
Property Charges and Others | -- | 447 | -- | -- | -- | -- | 447 |
Adjusted EBITDA | 25,987 | 9,081 | 184,267 | (24) | -- | (15,464) | 203,847 |
Corporate and Others Expenses | -- | -- | -- | -- | -- | 15,464 | 15,464 |
Adjusted Property EBITDA | $ 25,987 | $ 9,081 | $ 184,267 | $ (24) | $ -- | $ -- | $ 219,311 |
Melco Crown Entertainment Limited and Subsidiaries | ||
Reconciliation of Adjusted EBITDA and Adjusted Property EBITDA to Net Income | ||
Attributable to Melco Crown Entertainment Limited | ||
(In thousands of U.S. dollars) | ||
Three Months Ended | ||
June 30, | ||
2013 | 2012 | |
(Unaudited) | (Unaudited) | |
Adjusted Property EBITDA | $ 350,767 | $ 219,311 |
Corporate and Others Expenses | (20,677) | (15,464) |
Adjusted EBITDA | 330,090 | 203,847 |
Pre-opening Costs | (4,716) | (2,215) |
Development Costs | (2,888) | (568) |
Depreciation and Amortization | (96,530) | (93,988) |
Share-based Compensation | (2,819) | (2,410) |
Property Charges and Others | (3,473) | (447) |
Interest and Other Non-Operating Expenses, Net | (55,568) | (26,088) |
Income Tax Credit | 392 | 281 |
Net Income | 164,488 | 78,412 |
Net Loss Attributable to Noncontrolling Interests | 16,557 | 3,850 |
Net Income Attributable to Melco Crown Entertainment Limited | $ 181,045 | $ 82,262 |
Melco Crown Entertainment Limited and Subsidiaries | |||||||
Reconciliation of Operating Income (Loss) to Adjusted EBITDA and Adjusted Property EBITDA | |||||||
(In thousands of U.S. dollars) | |||||||
Six Months Ended June 30, 2013 | |||||||
Altira Macau |
Mocha |
City of Dreams |
Studio City |
Philippines Project |
Corporate and Others |
Total |
|
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |
Operating Income (Loss) | $ 65,699 | $ 11,839 | $ 429,101 | $ (23,706) | $ (23,226) | $ (82,983) | $ 376,724 |
Pre-opening Costs | -- | -- | 369 | 1,371 | 4,884 | 22 | 6,646 |
Development Costs | -- | -- | -- | -- | 17,216 | 2,769 | 19,985 |
Depreciation and Amortization | 15,754 | 5,935 | 114,216 | 21,766 | 412 | 33,281 | 191,364 |
Share-based Compensation | 67 | 59 | 398 | -- | 63 | 4,553 | 5,140 |
Property Charges and Others | -- | 448 | 3,000 | -- | -- | 249 | 3,697 |
Adjusted EBITDA | 81,520 | 18,281 | 547,084 | (569) | (651) | (42,109) | 603,556 |
Corporate and Others Expenses | -- | -- | -- | -- | -- | 42,109 | 42,109 |
Adjusted Property EBITDA | $ 81,520 | $ 18,281 | $ 547,084 | $ (569) | $ (651) | $ -- | $ 645,665 |
Six Months Ended June 30, 2012 | |||||||
Altira Macau |
Mocha |
City of Dreams |
Studio City |
Philippines Project |
Corporate and Others |
Total |
|
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |
Operating Income (Loss) | $ 62,385 | $ 11,615 | $ 264,587 | $ (19,848) | $ -- | $ (72,962) | $ 245,777 |
Pre-opening Costs | -- | 16 | 2,130 | 1,154 | -- | -- | 3,300 |
Development Costs | -- | -- | -- | -- | -- | 568 | 568 |
Depreciation and Amortization | 18,631 | 6,506 | 114,584 | 18,492 | -- | 30,852 | 189,065 |
Share-based Compensation | 48 | 62 | 226 | -- | -- | 3,696 | 4,032 |
Property Charges and Others | -- | 447 | 755 | -- | -- | 2,414 | 3,616 |
Adjusted EBITDA | 81,064 | 18,646 | 382,282 | (202) | -- | (35,432) | 446,358 |
Corporate and Others Expenses | -- | -- | -- | -- | -- | 35,432 | 35,432 |
Adjusted Property EBITDA | $ 81,064 | $ 18,646 | $ 382,282 | $ (202) | $ -- | $ -- | $ 481,790 |
Melco Crown Entertainment Limited and Subsidiaries | ||
Reconciliation of Adjusted EBITDA and Adjusted Property EBITDA to Net Income | ||
Attributable to Melco Crown Entertainment Limited | ||
(In thousands of U.S. dollars) | ||
Six Months Ended | ||
June 30, | ||
2013 | 2012 | |
(Unaudited) | (Unaudited) | |
Adjusted Property EBITDA | $ 645,665 | $ 481,790 |
Corporate and Others Expenses | (42,109) | (35,432) |
Adjusted EBITDA | 603,556 | 446,358 |
Pre-opening Costs | (6,646) | (3,300) |
Development Costs | (19,985) | (568) |
Depreciation and Amortization | (191,364) | (189,065) |
Share-based Compensation | (5,140) | (4,032) |
Property Charges and Others | (3,697) | (3,616) |
Interest and Other Non-Operating Expenses, Net | (172,206) | (49,908) |
Income Tax Credit | 1,356 | 1,042 |
Net Income | 205,874 | 196,911 |
Net Loss Attributable to Noncontrolling Interests | 28,947 | 7,442 |
Net Income Attributable to Melco Crown Entertainment Limited | $ 234,821 | $ 204,353 |
Melco Crown Entertainment Limited and Subsidiaries | ||||
Supplemental Data Schedule | ||||
Three Months Ended | Six Months Ended | |||
June 30, | June 30, | |||
2013 | 2012 | 2013 | 2012 | |
Room Statistics: | ||||
Altira Macau | ||||
Average daily rate (3) | $ 229 | $ 218 | $ 231 | $ 221 |
Occupancy per available room | 98% | 97% | 99% | 97% |
Revenue per available room (4) | $ 226 | $ 210 | $ 227 | $ 214 |
City of Dreams | ||||
Average daily rate (3) | $ 188 | $ 181 | $ 190 | $ 185 |
Occupancy per available room | 97% | 90% | 96% | 90% |
Revenue per available room (4) | $ 182 | $ 163 | $ 182 | $ 167 |
Other Information: | ||||
Altira Macau | ||||
Average number of table games | 169 | 182 | 171 | 186 |
Table games win per unit per day (5) | $ 25,011 | $ 18,270 | $ 24,452 | $ 19,528 |
City of Dreams | ||||
Average number of table games | 453 | 445 | 453 | 441 |
Average number of gaming machines | 1,584 | 1,379 | 1,532 | 1,377 |
Table games win per unit per day (5) | $ 27,417 | $ 19,846 | $ 25,694 | $ 20,402 |
Gaming machines win per unit per day (6) | $ 328 | $ 321 | $ 335 | $ 320 |
(3) Average daily rate is calculated by dividing total room revenue by total occupied rooms | ||||
(4) Revenue per available room is calculated by dividing total room revenue by total rooms available | ||||
(5) Table games win per unit per day is shown before discounts and commissions | ||||
(6) Gaming machines win per unit per day is shown before deducting cost for slot points |