Melco Crown Resorts reported an increase of net revenue for the City of Dreams Manila casino of 63.5 percent during last year.
Philippines.- Melco Crown Resorts reported a 63.5 percent increase in net revenue in the Philippines as it reached US$491.2 million in 2016. The raise for the casino operator is driven by the growth of VIP rolling chip turnover, as reported by the Macau based media outled Asia Gaming Brief.
The company that operates the City of Dreams Manila venue since its opening in late 2014 also announced the Philippines stock exchange earlier this week that adjusted property EBITDA was US$160.3 million last year, while in 2015 it was US$55.4 million. The firm explained that this major improvement happened thanks to an increase in its casino revenues.
According to Melco Crown Resorts, VIP rolling chip volume reached US$6.8 billion as it went up by 110.1 in 2016. Meanwhile, mass market grew 24.6 percent and made US$550.5 million, US$109.1 million more than the US$441.4 million made in 2015. Total revenue corresponding to non-gaming activities at the City of Dreams Manila casino was US$104.7 million, which represented a slight growth in comparison to the US$100.1 million raised in the year before.