Melco PBL Entertainment Ltd., a developer and owner of casinos and resorts in Macau, said Tuesday its fourth-quarter loss narrowed, helped by results from its Crown Macau casino.The company’s quarterly loss narrowed to $36.5 million, or 3 cents per share, compared with a loss of $53 million, or 5 cents per share in the prior-year quarter. Analysts polled by Thomson Financial expected a break-even results.

Revenue rose to $179.8 million, from $17.9 million last year. Crown Macau revenue totaled $153.6 million.

For the year, the company’s loss widened to $178.2 million, or 15 cents per share, from a loss of $73.5 million, or 12 cents per share.

Revenue rose to $358.6 million fro $36.1 million last year.

The company said the Crown Macau project will cost a total of $524 million, about 3 percent less than it originally estimated.

Courtesy :: CNN News

• Melco PBL Releases Q3 Financial Results Melco PBL Entertainment (Macau) Limited, a developer and owner of casino gaming and entertainment resort facilities focused exclusively on the...
• Morocco's King Loses Millions in Macau Fishermans Wharf Venture Morocco's King Mohammed VI is among a number of investors embroiled in a bitter financial restructuring of a loss-making Macau...
• Series of Articles About Macau The Las Vegas Sun send their two reporters Jeff Simpson and Richard N. Velotta to Macau to attend the opening...

• Citigroup posts loss, delays exchange offer | U.S. | Reuters Citigroup Inc posted a first-quarter loss on Friday, reflecting a large amount of credit losses and the accounting for preferred stock. The bank also said...
• Create a Gold-Laying Goose. “A man and his wife had the good fortune to possess a goose which laid a golden egg every day. Lucky though they were, they...
• ChaCha Makes Its Crazy Business Model…Profitable We’ve always had a lot of fun with Indianapolis-based startup ChaCha. They launched in 2007 as a human powered search engine – meaning a human...