September 19, 2014 2:29 PM ET

Hotels, Restaurants and Leisure

Company Overview of MCE Finance Limited

Company Overview

MCE Finance Ltd. is based in Cayman Islands. MCE Finance Ltd. operates as a subsidiary of Melco Crown Entertainment Ltd.

36th Floor

The Centrium

60 Wyndham Street

Central,  

Hong Kong

11,042 Employees

Phone:

852 2598 3600

Key Executives for MCE Finance Limited

Chief Financial Officer
Age: 45
Director
Age: 37
Company Secretary
Age: 52
Compensation as of Fiscal Year 2014.

MCE Finance Limited Key Developments

MCE Finance Limited Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

MCE Finance Limited reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net revenues of USD 1,204,241,000 compared to net revenues of USD 1,299,026,000 for the same period a year ago. Operating income was USD 201,668,000 compared to USD 239,428,000 last year. Income before income tax was USD 186,969,000 compared to USD 219,890,000 last year. Net income was USD 186,321,000 compared to USD 219,572,000 last year. Net cash provided by operating activities was USD 308,356,000 compared to USD 369,250,000 last year. Payment for acquisition of property and equipment was USD 51,710,000 compared to USD 17,589,000 last year. Advance payments and deposits for acquisition of property and equipment was USD 16,384,000 compared to USD 588,000 last year. For the six months, the company reported net revenues of USD 2,580,434,000 compared to net revenues of USD 2,453,077,000 for the same period a year ago. Operating income was USD 473,028,000 compared to USD 426,973,000 last year. Income before income tax was USD 440,064,000 compared to USD 323,092,000 last year. Net income was USD 438,912,000 compared to USD 322,969,000 last year. Net cash provided by operating activities was USD 583,785,000 compared to USD 589,844,000 last year. Payment for acquisition of property and equipment was USD 88,546,000 compared to USD 46,131,000 last year. Advance payments and deposits for acquisition of property and equipment was USD 17,829,000 compared to USD 2,311,000 last year.

MCE Finance Limited Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014

MCE Finance Limited announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company announced net revenues of $1,376,193,000 compared to $1,154,051,000 for the same period a year ago. Operating income was $271,360,000 compared to $187,545,000 for the same period a year ago. Income before income tax was $253,095,000 compared to $103,202,000 for the same period a year ago. Net income was $252,591,000 compared to $103,397,000 for the same period a year ago. Net cash provided by operating activities was $275,429,000 compared to $220,594,000 for the same period a year ago. Payment for acquisition of property and equipment was $36,836,000 compared to $28,542,000 for the same period a year ago.

MCE Finance Limited Reports Audited Consolidated Earnings Results for the Year Ended December 31, 2013

MCE Finance Limited reported audited consolidated earnings results for the year ended December 31, 2013. For the year, the company reported net revenues of $5,105,953,000 compared with $4,095,647,000 a year ago. Operating income was $939,952,000 compared with $570,000,000 a year ago. Income before income tax was $801,507,000 compared with $481,465,000 a year ago. Net income was $795,823,000 compared with $481,857,000 a year ago. Net cash provided by operating activities was $1,283,549,000 compared with $871,195,000 a year ago. The increase in net cash provided by operating activities was mainly attributable to strong growth in underlying operating performance. Payment for acquisition of property and equipment was $95,677,000 compared with $91,657,000 a year ago. Operating cash flows are generally affected by changes in operating income and accounts receivable with VIP table games play and hotel operations conducted on a cash and credit basis and the remainder of the business including mass market table games play, gaming machine play, food and beverage, and entertainment are conducted primarily on a cash basis. Total capital expenditure payments were $95.7 million, as compared to $91.7 million for the year ended December 31, 2012.

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