Casino operator Melco Crown Resorts in the Philippines posted a 63.5 per cent increase in net revenues to US$491.2m in 2016, driven by a surge in VIP rolling chip turnover, reports Asia Gaming Brief.
The operator of City of Dreams Manila made a preliminary announcement to the Philippines stock exchange on Monday, noting that adjusted property EBITDA was $160.3m in 2016, compared to $55.4m in 2015. Melco said the improvement in EBITDA was primarily a result of increased casino revenues.
VIP rolling chip volume surged by 110.1 per cent in 2016 to $6.8bn. Mass market saw a 24.6 per cent increase to $550.5m, compared to $441.4m in 2015.
Total non-gaming revenue at City of Dreams Manila was $104.7m, compared with $100.1m in the prior year.
Source: Asia Gaming Brief
