Melco Crown Entertainment, the operator of the City of Dreams resort in Macau, saw revenues jump 42 per cent in the first three months of this year.

The operator, a joint venture between Melco International Development and Australian casino firm Crown, said revenues at City of Dreams, Altira Macau and its Mocha gaming clubs stood at $806.6m at the end of the first quarter, up from $567.6m for the same period in 2010. Net income for the quarter reached $7.2m, compared with a net loss of $12.5m.

Adjusted EBITDA was $121.3m, compared with the $86.9m recorded in 2010. This, the company said, was due to a significant increase in gaming volumes.

"Our results from the first quarter of 2011 continue to illustrate our success in leveraging our high quality portfolio of assets, with record gaming and non-gaming revenues, synergies from our new management structure and our focus on margin enhancement, which drive continuing improvement in operating leverage," said Lawrence Ho, co-chairman and CEO of Melco Crown Entertainment.

"With the growth in our mass market operation, as well as our ability to capture the ongoing growth in the rolling chip segment, our outlook remains positive, particularly as we focus on various cost control initiatives, improving margins and bottom line results."