Wednesday, November 3, 2010

City of Dreams casino leads revival at Melco Crown

Online Casino Gambling
JAMES PACKER'S Macau joint venture has ''turned the corner'', says his business partner Lawrence Ho.

Melco Crown, which owns two casinos in Macau, has declared its first quarterly profit for 2½ years.

In the 3 months to the end of September it made $US15.8 million, compared with a $US39.5 million loss for the same period last year.

And while a new development in Macau is stalled, the company is still interested in expanding out of the Chinese Special Administrative Region into Japan, Taiwan or the Cayman Islands.

Melco Crown had been weighed down by its City of Dreams casino, which underperformed after it opened in June last year.

But City of Dreams raked in $US504 million in the September quarter, compared with $US288 million in the same period last year.

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