Melco Crown Entertainment Limited (MPEL), an operator of casino gaming and entertainment resort facilities, reported that net income attributable to the company for the first quarter of 2013 was $53.8 million, or $0.10 per ADS, down from $122.1 million, or $0.22 per ADS, in the first quarter of 2012.
The year-over-year decrease in net income was primarily attributable to the one-off charge on the extinguishment and modification of debt relating to the refinancing of the 10.25% senior notes together with increased net interest expenses and other finance costs resulting from Studio City financing, partially offset by strong growth in underlying operating performance.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.23 per share for the quarter. Analysts' estimates typically exclude special items.
Net revenue for the first quarter of 2013 was $1.145 billion, representing an increase of about 11% from $1.027 billion for the comparable period in 2012. Ten analysts had consensus revenue estimate of $1.12 billion for the quarter.
The increase in net revenue was primarily attributable to higher group-wide rolling chip volumes and mass market gross gaming revenues, partially offset by a lower group-wide rolling chip win rate.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.