Melco Crown net revenues rise 45% year-on-year in 2011

Melco Crown Entertainment, a Nasdaq-listed Macau casino developer and operator, has released its preliminary annual results for 2011.

The company said in a filing to the New York Stock Exchange that net revenues for the year ended December 31, 2011 were US$3.83 billion, an increase of US$1.19 billion, or 45.0%, as compared with US$2.64 billion for the year ended December 31, 2010.

• Net income attributable to Melco Crown Entertainment was US$294.7 million for the year ended December 31, 2011, as compared with net loss of US$10.5 million for the year ended December 31, 2010.

• Basic net income per share attributable to Melco Crown Entertainment was US$0.184 for the year ended December 31, 2011 compared to basic net loss per share of US$0.007 for the year ended December 31, 2010.

• Adjusted EBITDA for the year ended December 31, 2011 was US$809.4 million, representing an increase of US$379.0 million, or 88.1%, compared to US$430.4 million for the year ended December 31, 2010.

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