Melco Crown Entertainment (MPEL) Posts Q3 Profit of 20c/ADS; Altira Macau Revs Lower

Melco Crown Entertainment (NASDAQ: MPEL) reported Q3 EPS of $0.20, $0.03 better than the analyst estimate of $0.17. Revenue for the quarter came in at $1.01 billion versus the consensus estimate of $1.01 billion.

For the third quarter of 2012, net revenue at City of Dreams was US$747.4 million compared to US$687.2 million in the third quarter of 2011. City of Dreams generated Adjusted EBITDA of US$204.0 million in the third quarter of 2012, representing an increase of 20% compared to US$170.5 million in the comparable period of 2011.

For the quarter ended September 30, 2012, net revenue at Altira Macau was US$215.7 million compared to US$329.0 million in the third quarter of 2011. Altira Macau generated Adjusted EBITDA of US$29.8 million in the third quarter of 2012 compared with Adjusted EBITDA of US$78.9 million in the third quarter of 2011, a decline of 62%. The decrease in Adjusted EBITDA was driven by a lower rolling chip win rate together with reduced rolling chip volumes.

For earnings history and earnings-related data on Melco Crown Entertainment (MPEL) click here.

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