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Melco Crown Entertainment Limited Message Board

  • theconmanjd theconmanjd Aug 17, 2007 10:07 AM Flag

    My Breakdown of the 2nd Quarter Results

    * lost .06 cents, No suprise here

    * Market share only 4.9% --- This is not great, and will come under pressure when the Venetian opens.

    *Mass Market, is always going to be a big problem for the Crown. They acknowledge that it's a problem.-----Don't be quick to think "who cares" they would be a huge part of the City of Dreams and they spend money on Food and other retail items.

    *Operating costs at $121.7 Million will be a number to compare on Q3, it is hard to make much of it at this point.

    *The Crown was bringing in about $500,000 in revenues per day, this will be another key metric next Q, and looks to be Better then WYNN's $392K per day. Keep in mind Grand openings usually attract a lot more attention. LOOKS GOOD

    *SLot machines NEED MAJOR improvement on! Only $1.8 Million Profit. This is a result of the failure to attract the mass market.

    *looks like COD will probably be delayed and cost a bit more, but I almost think thats expected at this point.

    *Cash flow looks better than I thought,

    *DEBT appears to be understated in this release, I'm wondering if it is being deferred or accounted for differently.

    ******All in all, I feel MPEL is done tanking, it is fairly valued @ $12-14 for the time being, till more clarity is given next Quarter.

    ----I would Cover if you are still short. I myslef will go long if it sells off a bit.

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