City of Dreams results improve in July, Melco says
Results for Melco Crown's new City of Dreams casino in Macau improve in July
NEW YORK (AP) -- Melco Crown Entertainment Ltd. said Monday that results at its new Macau casino improved in July.
City of Dreams, which opened on June 1, posted a 36 percent increase in its July rolling chip volume compared with a month earlier. The casino, which had about 136 rolling chip gaming tables in July, reported rolling chip volume, or VIP play, of approximately $2.65 billion.
Table game drop, or the money, vouchers and other cash equivalents that gamblers exchange for gaming chips, grew 33 percent to $132 million with 353 mass marketing gaming tables.
Approximately 1.1 million people visited City of Dreams in July, averaging out to about 37,000 visitors a day.
Aside from its casino, the $2.1 billion City of Dreams has three hotels, Las Vegas-style shows, an upscale shopping mall and restaurants.
Hong Kong-based Melco Crown develops and owns Macau casino resorts. Macau is the only place in China with legalized gambling.
Shares of Melco Crown added 34 cents, or 6.1 percent, to $5.90 in morning trading. The stock has traded in a 52-week range of $2.27 to $7.90.http://finance.yahoo.com/news/City-o....html?x=0&.v=1