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MCE_4Q_2013_Earnings_Release 531.3 KB
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Net revenue for the fourth quarter of 2013 was
Adjusted EBITDA<1> was
On a U.S. GAAP basis, net income attributable to
Mr.
"Our development pipeline continues to progress as planned. We recently completed a Philippine Peso denominated, approximately
"Studio City, our exciting new cinematically-themed integrated resort in Cotai, remains on budget and on track to open in mid-2015 while the iconic fifth tower at City of Dreams in
"
"As a result of the strong cash flow generation at our core operating assets in
City of Dreams Fourth Quarter Results
For the fourth quarter of 2013, net revenue at City of Dreams was
The strong year-over-year improvement in fourth quarter Adjusted EBITDA was primarily a result of the 57% year-over-year improvement in mass table games gross gaming revenue, together with an increase in rolling chip volumes and a higher rolling chip win rate.
Rolling chip volume for the fourth quarter of 2013 was
Mass market table games drop increased 29% to
Slot handle for the fourth quarter of 2013 was
Total non-gaming revenue at City of Dreams in the fourth quarter of 2013 was
Altira Macau Fourth 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 fourth quarter of 2013 was
Mocha Clubs Fourth Quarter Results
Net revenue from
The number of gaming machines in operation at
City of Dreams Manila Fourth Quarter Results
On a fully consolidated basis, we incurred approximately
Other Factors Affecting Earnings
Total net non-operating expenses for the fourth quarter of 2013 were
Depreciation and amortization costs of
Financial Position and Capital Expenditure
Total cash and bank balances as of
Capital expenditures for the fourth quarter of 2013 were
Full Year Results
For the year ended
Adjusted EBITDA for the year ended
On a U.S. GAAP basis, net income attributable to
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 |
Conference ID | 52041117 |
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 and other non-operating income and expenses. "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 and other non-operating income and expenses. 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. 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 U.S. 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 U.S. GAAP measurements, to assist in the evaluation of operating performance. Such U.S. 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 U.S. 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 attributable to
Melco Crown Entertainment and adjusted net income attributable toMelco Crown Entertainment 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 U.S. GAAP, as an additional basis for assessing period-to-period results of our business. Adjusted net income attributable toMelco Crown Entertainment and adjusted net income attributable toMelco Crown Entertainment per share may be different from the calculation methods used by other companies and, therefore, comparability may be limited. Reconciliations of adjusted net income attributable toMelco Crown Entertainment with the most comparable financial measures calculated and presented in accordance with U.S. GAAP are provided herein immediately following the financial statements included in this press release.
About
Investment Community, please contact:
Vice President, Investor Relations
Tel: +853 8868 7575 or +852 2598 3689
Email: rossdunwoody@melco-crown.com
For media enquiry, please contact:
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 December 31, |
Year Ended December 31, |
|||
2013 | 2012 | 2013 | 2012 | |
(Unaudited) | (Unaudited) | (Unaudited) | (Audited) | |
OPERATING REVENUES | ||||
Casino | $ 1,355,775 | $ 1,065,397 | $ 4,941,487 | $ 3,934,761 |
Rooms | 33,547 | 31,212 | 127,661 | 118,059 |
Food and beverage | 20,932 | 21,255 | 78,880 | 72,718 |
Entertainment, retail and others | 27,744 | 22,191 | 103,739 | 90,789 |
Gross revenues | 1,437,998 | 1,140,055 | 5,251,767 | 4,216,327 |
Less: promotional allowances | (43,438) | (38,244) | (164,589) | (138,314) |
Net revenues | 1,394,560 | 1,101,811 | 5,087,178 | 4,078,013 |
OPERATING COSTS AND EXPENSES | ||||
Casino | (933,131) | (767,097) | (3,452,736) | (2,834,762) |
Rooms | (3,262) | (3,442) | (12,511) | (14,697) |
Food and beverage | (8,690) | (6,533) | (29,114) | (27,531) |
Entertainment, retail and others | (16,975) | (16,919) | (64,212) | (62,816) |
General and administrative | (68,299) | (62,831) | (255,780) | (226,980) |
Pre-opening costs | (6,246) | (934) | (17,014) | (5,785) |
Development costs | (5,293) | (7,186) | (26,297) | (11,099) |
Amortization of gaming subconcession | (14,309) | (14,309) | (57,237) | (57,237) |
Amortization of land use rights | (16,115) | (15,796) | (64,271) | (59,911) |
Depreciation and amortization | (65,348) | (65,355) | (261,298) | (261,449) |
Property charges and others | (1,334) | (4,612) | (6,884) | (8,654) |
Total operating costs and expenses | (1,139,002) | (965,014) | (4,247,354) | (3,570,921) |
OPERATING INCOME | 255,558 | 136,797 | 839,824 | 507,092 |
NON-OPERATING INCOME (EXPENSES) | ||||
Interest income | 3,262 | 2,875 | 7,660 | 10,958 |
Interest expenses, net of capitalized interest | (33,139) | (31,741) | (152,660) | (109,611) |
Other finance costs | (11,574) | (4,246) | (43,802) | (14,596) |
Change in fair value of interest rate swap agreements | -- | -- | -- | 363 |
Foreign exchange (loss) gain, net | (1,854) | 1,336 | (10,756) | 4,685 |
Other income (expenses), net | 558 | (1,529) | 1,661 | 115 |
Loss on extinguishment of debt | -- | -- | (50,935) | -- |
Costs associated with debt modification | -- | (3,277) | (10,538) | (3,277) |
Total non-operating expenses, net | (42,747) | (36,582) | (259,370) | (111,363) |
INCOME BEFORE INCOME TAX | 212,811 | 100,215 | 580,454 | 395,729 |
INCOME TAX (EXPENSE) CREDIT | (4,483) | 1,078 | (2,441) | 2,943 |
NET INCOME | 208,328 | 101,293 | 578,013 | 398,672 |
NET LOSS ATTRIBUTABLE TO | ||||
NONCONTROLLING INTERESTS | 14,918 | 6,688 | 59,450 | 18,531 |
NET INCOME ATTRIBUTABLE TO | ||||
MELCO CROWN ENTERTAINMENT LIMITED | $ 223,246 | $ 107,981 | $ 637,463 | $ 417,203 |
NET INCOME ATTRIBUTABLE TO MELCO CROWN ENTERTAINMENT LIMITED PER SHARE: | ||||
Basic | $ 0.135 | $ 0.066 | $ 0.386 | $ 0.254 |
Diluted | $ 0.134 | $ 0.065 | $ 0.383 | $ 0.252 |
NET INCOME ATTRIBUTABLE TO MELCO CROWN ENTERTAINMENT LIMITED PER ADS: | ||||
Basic | $ 0.406 | $ 0.197 | $ 1.159 | $ 0.761 |
Diluted | $ 0.402 | $ 0.195 | $ 1.149 | $ 0.755 |
WEIGHTED AVERAGE SHARES USED IN NET INCOME ATTRIBUTABLE TO MELCO CROWN ENTERTAINMENT LIMITED PER SHARE CALCULATION: | ||||
Basic | 1,651,037,173 | 1,646,515,795 | 1,649,678,643 | 1,645,346,902 |
Diluted | 1,665,983,630 | 1,660,262,969 | 1,664,198,091 | 1,658,262,996 |
Melco Crown Entertainment Limited and Subsidiaries | ||
Condensed Consolidated Balance Sheets | ||
(In thousands of U.S. dollars) | ||
December 31, 2013 |
December 31, 2012 |
|
(Unaudited) | (Audited) | |
ASSETS | ||
CURRENT ASSETS | ||
Cash and cash equivalents | $ 1,381,757 | $ 1,709,209 |
Bank deposits with original maturity over three months | 626,940 | -- |
Restricted cash | 770,294 | 672,981 |
Accounts receivable, net | 287,880 | 320,929 |
Amounts due from affiliated companies | 23 | 1,322 |
Income tax receivable | 18 | 266 |
Inventories | 18,169 | 16,576 |
Prepaid expenses and other current assets | 54,898 | 27,743 |
Assets held for sale | 8,468 | -- |
Total current assets | 3,148,447 | 2,749,026 |
PROPERTY AND EQUIPMENT, NET | 3,308,846 | 2,684,094 |
GAMING SUBCONCESSION, NET | 485,031 | 542,268 |
INTANGIBLE ASSETS, NET | 4,220 | 4,220 |
GOODWILL | 81,915 | 81,915 |
LONG-TERM PREPAYMENTS, DEPOSITS AND OTHER ASSETS | 345,667 | 88,241 |
RESTRICTED CASH | 373,371 | 741,683 |
DEFERRED TAX ASSETS | 93 | 105 |
DEFERRED FINANCING COSTS | 114,431 | 65,930 |
LAND USE RIGHTS, NET | 951,618 | 989,984 |
TOTAL ASSETS | $ 8,813,639 | $ 7,947,466 |
LIABILITIES AND SHAREHOLDERS' EQUITY | ||
CURRENT LIABILITIES | ||
Accounts payable | $ 9,825 | $ 13,745 |
Accrued expenses and other current liabilities | 928,751 | 850,841 |
Income tax payable | 6,584 | 1,191 |
Capital lease obligations, due within one year | 27,265 | -- |
Current portion of long-term debt | 262,566 | 854,940 |
Amounts due to affiliated companies | 2,900 | 949 |
Amount due to a shareholder | 79 | -- |
Total current liabilities | 1,237,970 | 1,721,666 |
LONG-TERM DEBT | 2,270,894 | 2,339,924 |
OTHER LONG-TERM LIABILITIES | 28,492 | 7,412 |
DEFERRED TAX LIABILITIES | 62,806 | 66,350 |
CAPITAL LEASE OBLIGATIONS, DUE AFTER ONE YEAR | 253,029 | -- |
LAND USE RIGHTS PAYABLE | 35,466 | 71,358 |
SHAREHOLDERS' EQUITY | ||
Ordinary shares | 16,667 | 16,581 |
Treasury shares | (5,960) | (113) |
Additional paid-in capital | 3,479,399 | 3,235,835 |
Accumulated other comprehensive losses | (15,592) | (1,057) |
Retained earnings | 772,156 | 134,693 |
Total Melco Crown Entertainment Limited shareholders' equity | 4,246,670 | 3,385,939 |
Noncontrolling interests | 678,312 | 354,817 |
Total equity | 4,924,982 | 3,740,756 |
TOTAL LIABILITIES AND EQUITY | $ 8,813,639 | $ 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 December 31, |
Year Ended December 31, |
|||
2013 | 2012 | 2013 | 2012 | |
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |
Net Income Attributable to | ||||
Melco Crown Entertainment Limited | $ 223,246 | $ 107,981 | $ 637,463 | $ 417,203 |
Pre-opening Costs | 6,246 | 934 | 17,014 | 5,785 |
Development Costs | 5,293 | 7,186 | 26,297 | 11,099 |
Property Charges and Others | 1,334 | 4,612 | 6,884 | 8,654 |
Change in Fair Value of Interest Rate Swap Agreements | -- | -- | -- | (363) |
Loss on Extinguishment of Debt | -- | -- | 50,935 | -- |
Costs Associated with Debt Modification | -- | 3,277 | 10,538 | 3,277 |
Adjusted Net Income Attributable to Melco Crown Entertainment Limited | $ 236,119 | $ 123,990 | $ 749,131 | $ 445,655 |
ADJUSTED NET INCOME ATTRIBUTABLE TO MELCO CROWN ENTERTAINMENT LIMITED PER SHARE: | ||||
Basic | $ 0.143 | $ 0.075 | $ 0.454 | $ 0.271 |
Diluted | $ 0.142 | $ 0.075 | $ 0.450 | $ 0.269 |
ADJUSTED NET INCOME ATTRIBUTABLE TO MELCO CROWN ENTERTAINMENT LIMITED PER ADS: | ||||
Basic | $ 0.429 | $ 0.226 | $ 1.362 | $ 0.813 |
Diluted | $ 0.425 | $ 0.224 | $ 1.350 | $ 0.806 |
|
||||
WEIGHTED AVERAGE SHARES USED IN ADJUSTED NET INCOME ATTRIBUTABLE TO MELCO CROWN ENTERTAINMENT LIMITED PER SHARE CALCULATION: | ||||
Basic | 1,651,037,173 | 1,646,515,795 | 1,649,678,643 | 1,645,346,902 |
Diluted | 1,665,983,630 | 1,660,262,969 | 1,664,198,091 | 1,658,262,996 |
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 December 31, 2013 | |||||||
Altira Macau | Mocha | City of Dreams | Studio City |
City of Dreams Manila |
Corporate and Others |
Total | |
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |
Operating Income (Loss) | $ 28,182 | $ 6,830 | $ 289,958 | $ (11,860) | $ (8,292) | $ (49,260) | $ 255,558 |
Pre-opening Costs | -- | -- | 27 | 797 | 5,406 | 16 | 6,246 |
Development Costs | -- | -- | -- | -- | 740 | 4,553 | 5,293 |
Depreciation and Amortization | 7,810 | 2,972 | 57,094 | 10,883 | 476 | 16,537 | 95,772 |
Share-based Compensation | 23 | 43 | 195 | -- | 1,791 | 2,766 | 4,818 |
Property Charges and Others | -- | 921 | 413 | -- | -- | -- | 1,334 |
Adjusted EBITDA | 36,015 | 10,766 | 347,687 | (180) | 121 | (25,388) | 369,021 |
Corporate and Others Expenses | -- | -- | -- | -- | -- | 25,388 | 25,388 |
Adjusted Property EBITDA | $ 36,015 | $ 10,766 | $ 347,687 | $ (180) | $ 121 | $ -- | $ 394,409 |
Three Months Ended December 31, 2012 | |||||||
Altira Macau | Mocha | City of Dreams | Studio City |
City of Dreams Manila |
Corporate and Others |
Total | |
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |
Operating Income (Loss) | $ 35,791 | $ 4,705 | $ 157,824 | $ (11,840) | $ (7,322) | $ (42,361) | $ 136,797 |
Pre-opening Costs | -- | -- | 252 | 682 | -- | -- | 934 |
Development Costs | -- | -- | -- | -- | 6,846 | 340 | 7,186 |
Depreciation and Amortization | 7,992 | 3,101 | 56,828 | 10,883 | -- | 16,656 | 95,460 |
Share-based Compensation | 30 | 38 | 180 | -- | -- | 2,223 | 2,471 |
Property Charges and Others | -- | 224 | 4,388 | -- | -- | -- | 4,612 |
Adjusted EBITDA | 43,813 | 8,068 | 219,472 | (275) | (476) | (23,142) | 247,460 |
Corporate and Others Expenses | -- | -- | -- | -- | -- | 23,142 | 23,142 |
Adjusted Property EBITDA | $ 43,813 | $ 8,068 | $ 219,472 | $ (275) | $ (476) | $ -- | $ 270,602 |
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 December 31, |
||
2013 | 2012 | |
(Unaudited) | (Unaudited) | |
Adjusted Property EBITDA | $ 394,409 | $ 270,602 |
Corporate and Others Expenses | (25,388) | (23,142) |
Adjusted EBITDA | 369,021 | 247,460 |
Pre-opening Costs | (6,246) | (934) |
Development Costs | (5,293) | (7,186) |
Depreciation and Amortization | (95,772) | (95,460) |
Share-based Compensation | (4,818) | (2,471) |
Property Charges and Others | (1,334) | (4,612) |
Interest and Other Non-Operating Expenses, Net | (42,747) | (36,582) |
Income Tax (Expense) Credit | (4,483) | 1,078 |
Net Income | 208,328 | 101,293 |
Net Loss Attributable to Noncontrolling Interests | 14,918 | 6,688 |
Net Income Attributable to Melco Crown Entertainment Limited | $ 223,246 | $ 107,981 |
Melco Crown Entertainment Limited and Subsidiaries | |||||||
Reconciliation of Operating Income (Loss) to Adjusted EBITDA and Adjusted Property EBITDA | |||||||
(In thousands of U.S. dollars) | |||||||
Year Ended December 31, 2013 | |||||||
Altira Macau | Mocha | City of Dreams | Studio City |
City of Dreams Manila |
Corporate and Others |
Total | |
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |
Operating Income (Loss) | $ 115,796 | $ 26,601 | $ 958,553 | $ (47,447) | $ (37,232) | $(176,447) | $ 839,824 |
Pre-opening Costs | -- | -- | 396 | 2,856 | 13,707 | 55 | 17,014 |
Development Costs | -- | -- | -- | -- | 17,956 | 8,341 | 26,297 |
Depreciation and Amortization | 31,409 | 11,887 | 228,381 | 43,532 | 1,187 | 66,410 | 382,806 |
Share-based Compensation | 135 | 142 | 838 | -- | 3,779 | 10,093 | 14,987 |
Property Charges and Others | -- | 1,592 | 5,043 | -- | -- | 249 | 6,884 |
Adjusted EBITDA | 147,340 | 40,222 | 1,193,211 | (1,059) | (603) | (91,299) | 1,287,812 |
Corporate and Others Expenses | -- | -- | -- | -- | -- | 91,299 | 91,299 |
Adjusted Property EBITDA | $ 147,340 | $ 40,222 | $ 1,193,211 | $ (1,059) | $ (603) | $ -- | $ 1,379,111 |
Year Ended December 31, 2012 | |||||||
Altira Macau | Mocha | City of Dreams | Studio City |
City of Dreams Manila |
Corporate and Others |
Total | |
(Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |
Operating Income (Loss) | $ 119,850 | $ 22,185 | $ 570,168 | $ (43,600) | $ (7,322) | $(154,189) | $ 507,092 |
Pre-opening Costs | -- | 16 | 3,097 | 2,672 | -- | -- | 5,785 |
Development Costs | -- | -- | -- | -- | 6,846 | 4,253 | 11,099 |
Depreciation and Amortization | 34,741 | 12,831 | 226,553 | 40,258 | -- | 64,214 | 378,597 |
Share-based Compensation | 106 | 138 | 556 | -- | -- | 8,173 | 8,973 |
Property Charges and Others | -- | 895 | 5,345 | -- | -- | 2,414 | 8,654 |
Adjusted EBITDA | 154,697 | 36,065 | 805,719 | (670) | (476) | (75,135) | 920,200 |
Corporate and Others Expenses | -- | -- | -- | -- | -- | 75,135 | 75,135 |
Adjusted Property EBITDA | $ 154,697 | $ 36,065 | $ 805,719 | $ (670) | $ (476) | $ -- | $ 995,335 |
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) | ||
Year Ended December 31, |
||
2013 | 2012 | |
(Unaudited) | (Unaudited) | |
Adjusted Property EBITDA | $ 1,379,111 | $ 995,335 |
Corporate and Others Expenses | (91,299) | (75,135) |
Adjusted EBITDA | 1,287,812 | 920,200 |
Pre-opening Costs | (17,014) | (5,785) |
Development Costs | (26,297) | (11,099) |
Depreciation and Amortization | (382,806) | (378,597) |
Share-based Compensation | (14,987) | (8,973) |
Property Charges and Others | (6,884) | (8,654) |
Interest and Other Non-Operating Expenses, Net | (259,370) | (111,363) |
Income Tax (Expense) Credit | (2,441) | 2,943 |
Net Income | 578,013 | 398,672 |
Net Loss Attributable to Noncontrolling Interests | 59,450 | 18,531 |
Net Income Attributable to Melco Crown Entertainment Limited | $ 637,463 | $ 417,203 |
Melco Crown Entertainment Limited and Subsidiaries | ||||
Supplemental Data Schedule | ||||
Three Months Ended December 31, |
Year Ended December 31, |
|||
2013 | 2012 | 2013 | 2012 | |
Room Statistics: | ||||
Altira Macau | ||||
Average daily rate (3) | $ 234 | $ 228 | $ 230 | $ 221 |
Occupancy per available room | 99% | 99% | 99% | 98% |
Revenue per available room (4) | $ 233 | $ 225 | $ 227 | $ 216 |
City of Dreams | ||||
Average daily rate (3) | $ 193 | $ 189 | $ 189 | $ 185 |
Occupancy per available room | 98% | 96% | 97% | 93% |
Revenue per available room (4) | $ 190 | $ 181 | $ 183 | $ 171 |
Other Information: | ||||
Altira Macau | ||||
Average number of table games | 155 | 176 | 165 | 180 |
Table games win per unit per day (5) | $ 24,187 | $ 24,313 | $ 23,877 | $ 20,789 |
City of Dreams | ||||
Average number of table games | 467 | 451 | 457 | 445 |
Average number of gaming machines | 1,371 | 1,440 | 1,469 | 1,417 |
Table games win per unit per day (5) | $ 29,446 | $ 22,052 | $ 26,810 | $ 20,997 |
Gaming machines win per unit per day (6) | $ 418 | $ 337 | $ 361 | $ 313 |
(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 |