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Melco Crown Entertainment Limited Message Board

  • squeezetracker squeezetracker Apr 28, 2014 3:01 PM Flag

    Neptune's VIP Room list

    Ayre's compiled a list of known VIP room relationships for Neptune late last Fall. Someone send CS "analyst" and the Barron's "journalist" a note that, funny to see, MPEL is the only house NOT on the list.

    OCTOBER 5, 2013
    Macau junket operator Neptune Group recently handed in its financial report for the fiscal year ending June 30, and investors in the Hong Kong-listed firm have reason to cheer, Profits rose 26% to HKD 564.5m (US $72.8m), outpacing the 11% growth experienced by Macau’s VIP gambling market in the most recent quarterly figures. Earnings per share came to HK 6.95¢, down 5.5% from fiscal 2012, although this is attributable to dilution following an 8% increase in the ordinary shares issued during the year.

    Neptune’s trade receivables – aka unpaid VIP gambling debts – totaled HKD 418m ($53.9m) for the year, up 30% from HKD 321m in fiscal 2012. Some 69% of FY 2013’s receivables have been on Neptune’s books for over 90 days, but the company insists that it didn’t record any impairment loss on these receivables. Neptune has profit sharing deals with five Macau junket firms covering 61 VIP gaming tables at the Venetian Macao, Sands Macao, Galaxy StarWorld and SJM’s Grand Lisboa. Late last month, Neptune let it slip that it had signed a memorandum of understanding for possible investment in a junket operating out of the Galaxy Guangdong VIP Club at the Galaxy Macau.

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