July 12, 2014 8:19 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 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.

MCE Finance Limited Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013

MCE Finance Limited reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, net revenues were $1,255.683 million against $1,012.760 million a year ago. Operating income was $227.593 million against $141.092 million a year ago. Income before income tax was $210.931 million against $120.493 million a year ago. Net income was $211.211 million against $120.685 million a year ago. Net cash provided by operating activities was $356.161 million against $317.612 million a year ago. Payment for acquisition of property and equipment was $21.303 million against $25.000 million a year ago. The increase in net revenue was primarily attributable to improved group-wide gaming performance, particularly in the mass market table games segment. The year-over-year increase in net income was primarily attributable to the significant growth in group-wide operating performance and reduced interest expenses following the refinancing of the 2010 Senior Notes with the 2013 Senior Notes and the repayment of revolving credit facility under the 2011 Credit Facilities in the first quarter of 2013. For the nine months, net revenues were $3,708.760 million against $2,990.700 million a year ago. Operating income was $654.566 million against $411.230 million a year ago. Income before income tax was $534.023 million against $347.374 million a year ago. Net income was $534.180 million against $347.872 million a year ago. Net cash provided by operating activities was $946.005 million against $663.216 million a year ago. Payment for acquisition of property and equipment was $67.434 million against $73.123 million a year ago.

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