1 million ($14.3 million), down 87.8% from HK$976.6 million last year, .
Lawrence Ho chaired HK$89.6 million last year, up 137.4% year-over-year, out of HK$212.6 million, which included a 79.1% decline in profits from Melco Crown Entertainment's 34.2% holdings, according to local sources. This includes HK$1.06 billion from about HK$22.4 million, a decrease in profit from Melco Crown Entertainment's 34.2% holdings last year.
Melco Crown Entertainment's unaudited results showed last month that net income for the six months to June 30 was $1971.0 million, down $2,556.9 million from a year earlier, a significant drop in net income for the year, Melco International said in a Monday filing. "The drop in net profit was primarily attributable to lower rolling chip revenue and bulk market table game revenue in Macau, partially offset by net revenue from macaubusinessdaily by City of Dreams Manila, which started operating in December 2014. Lawrence Ho, chairman and CEO of Melco, added: "In the near future, the gaming industry in Macau expects to face strong headwinds, with market conditions still expected to be unfavorable." "We expect additional government support in line with our strategy to diversify Macau's economy into a non-gaming tourism facility as part of our evolution into a global tourism and leisure hub."
Entertainment Gaming Asia (EGT) posted adjusted interest, tax, depreciation and amortization income (EBITDA) of $2 million and consolidated net income of $5.7 million, an increase in revenue from gaming chips, plaque sales and gaming operations to 64.8% of its subsidiaries that enjoy a firm presence in Cambodia and Philippine gaming market slot operations, representing an approximately 65.2% year-over-year increase in revenue of $15.9 million.
According to the group, in addition to the previously announced Spain integrated resort project, Melco is actively evaluating development opportunities beyond Asia by Melcorot, the group's subsidiary, with Tbilisi and Georgia boutique casino projects in mind, and while acknowledging the unfavorable market conditions of the Macau gaming industry, Melco International has maintained an overall positive rating. https://www.casinositesafe.com/
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