melco crown entertainme-adr (MPEL) Key Developments
Melco Crown Entertainment Limited Presents at 3rd Annual Asia Investor Forum - London, Jun-08-2015
Jun 3 15
Melco Crown Entertainment Limited Presents at 3rd Annual Asia Investor Forum - London, Jun-08-2015 . Venue: The May Fair Hotel, Stratton Street, Mayfair, London, W1J 8LT, United Kingdom.
Melco Crown Entertainment Limited Announces Board Changes
May 20 15
The Board Melco Crown Entertainment Limited announced that Mr. Rowen Bruce Craigie retired as a non-executive Director of the company with effect from the conclusion of the AGM and Mr. Robert John Rankin was appointed as a non-executive Director of the company with effect from the conclusion of the AGM. In June 2012, Mr. Rankin was appointed Co-Global Head of Corporate Banking & Securities (CB&S) and Global Head of Corporate Finance where he was based out of London.
Melco Crown Entertainment Limited Provides Net Interest Expense Guidance for the Second Quarter of 2015
May 7 15
Melco Crown Entertainment Limited provided earnings guidance for the second quarter of 2015. For the second quarter of 2015, the company expects total depreciation and amortization expense to be approximately $110 million to $115 million. Consolidated net interest expense is expected to be approximately $40 million, which includes finance lease interest of $11 million relating to City of Dreams Manila, net of approximately $37 million of total capitalized interest.
Melco Crown Entertainment Limited Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015
May 7 15
Melco Crown Entertainment Limited reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company's net revenue was $1,054.3 million, representing a decrease of approximately 22% from $1,357.3 million for the comparable period in 2014. The decline in net revenue was primarily attributable to lower group-wide rolling chip revenues and mass market table games revenues. Adjusted property EBITDA was $253.3 million for the quarter, as compared to adjusted property EBITDA of $387.5 million in the first quarter of 2014. The 35% year-over-year decline in adjusted property EBITDA was attributable to lower group-wide rolling chip volumes and rolling chip win rate, together with a lower contribution from the mass market table games segment. On a U.S. GAAP basis, net income attributable to the company for the quarter was $60.6 million, or $0.037 per diluted share, compared with net income attributable to the company of $239.5 million, or $0.144 per diluted share, in the first quarter of 2014. Capital expenditures for the quarter were $456.2 million, which predominantly related to Studio City and City of Dreams Manila, as well as various projects at City of Dreams, including the fifth hotel tower. Operating income was $60.2 million compared with $269.6 million a year ago. Income before income tax was $24.4 million compared with $228.2 million a year ago. Adjusted net income attributable to the company was $87.1 million or $0.054 per diluted share compared with $249.3 million or $0.150 per diluted share a year ago. Adjusted EBITDA was $221.4 million compared with $358.7 million a year ago.
Melco Crown Entertainment Limited Declares Dividend for the First Quarter of 2015, Payable on or About June 5, 2015
May 7 15
Melco Crown Entertainment Limited announced that the board of directors of the company considered and approved the declaration and payment of a quarterly dividend of $0.0112 per ordinary share of the company for the first quarter of 2015. The quarterly dividend will be paid on or about June 5, 2015 to the shareholders of the company whose names appear on the register of members of the company at the close of business on May 26, 2015, being the record date for determination of entitlements to the quarterly dividend. The quarterly dividend of approximately $0.0336 per ADS, less any applicable fees and charges, will be paid on or about June 5, 2015 by the depositary, in cash in US dollars, to ADS holders of record as of May 26, 2015 in accordance with the deposit agreement.