Casino operator Melco Crown Entertainment Ltd. (MPEL), Tuesday said higher expenses caused a wider loss in the fourth quarter, despite a 60% increase in quarterly revenues.
For the fourth quarter, net loss of the Central, Hong Kong-based Melco widened to US$89.69 million or US$0.17 per ADS from US$18.89 million or US$0.04 per ADS in the same quarter last year.
Net loss widened due to increased depreciation and amortization expenses and lower capitalized interest following the opening of City of Dreams, as well as the aforementioned lower than expected rolling chip hold percentage in the fourth quarter of 2009.
Adjusted net loss was US$87.04 million or US$0.164 per ADS, compared to a loss of US$9.49 million or US$0.022 per ADS in the same quarter last year.
On average, five analysts polled by Thomson Reuters expected a loss of $0.15 per share for the quarter. Analysts' estimates typically exclude one-time items.
Net revenues surged 60% to US$400.22 million from US$253.50 million in the prior year quarter, still missing Street estimates of $459.43 million for the quarter.
Revenues increased primarily due to a substantial increase in Casino operating revenues at $388.98 million, compared to $251.41 million in the same quarter a year ago.
Total operating costs and expenses increased to $473.75 million from $270.29 million in the year-earlier quarter. Total non-operating expenses rose to $16.67 million from $2.54 million in the prior-year quarter.
Operating loss widened to $73.54 million from 416.80 million in the prior-year quarter.
For full-year 2009, net loss was $308.46 million or $0.210 per share, compared to a loss of $2.46 million or $0.002 per share a year ago. Net revenues decreased to $1.33 billion from $1.42 billion in the prior-year quarter. The Street expected a loss of $0.47 per share on revenues of $1.50 billion for the year.
MRO is currently trading at $30.68 up $0.03 or 0.10%, on a volume of 4.95 million shares.
For comments and feedback contact: editorial@rttnews.com
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.