Sunday 16 December
Apr 14, 2016 @ 8:05

Losses swell for City of Dreams Manila operator in 2015

 

THE LOCAL UNIT of Macau-based Melco Crown Entertainment Ltd. continued its bleeding last year on mounting costs to support the first full year operations of City of Dreams Manila.

Melco Crown Philippines (Resorts) Corp. (MCP) said in a regulatory filing its net loss swelled to P9.14 billion last year from the P6.30 billion registered in 2014.

The ballooning losses were attributed to the ?increase in total operating costs and expenses arising from the full year resort operations in 2015, as well as the interest expenses (net of capitalized interest) as a result of lower interest capitalization since the project completion in the first quarter of 2015.?

Please follow and like us:

Tags: , , , ,

Related Stories
The Philippines is open to issuing gambling licenses outside Metro Manila and plans to require
Bombarded with complaints from irked investors, the majority shareholder of Melco Resorts and Entertainment Philippines
Melco Resorts and Entertainment (Philippines) Corp. resolved to initiate the process to voluntary delist from
Leisure estate developer and gaming firm Belle Corp. sustained its growth with first half earnings


Read full Article here »

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.