Melco PBL Reports Boffo Q1
Melco PBL Entertainment (owners of Crown Towers, Taipa and City Of Dreams) just released their Q1 financial data - as expected it's quite a whopper.
In the span of a few short months, Crown Macau has become the busiest casino in the world in terms of gaming volume, impressive given the physical size of the property compared with many of its competitors, and the relatively modest capital investment cost of US$382 million (excluding land value). This is a testament to the award-winning design of the property and the quality of the guest experience delivered by our highly-trained staff. We believe that our insight into the customer profile and our long established and close relationships with our approved junket operators provide MPEL with a distinct competitive advantage.
No doubt. The Melco PBL Entertainment brain trust has truly done the impossible... they pulled the rug out from under Las Vegas Sands, SJM, Galaxy, MGM and to a lesser degree Wynn.
We'll have more on this and hopefully some other juicy tidbits after their earnings call has been posted.
Here's the press release