Melco China Resorts (Holding) Ltd
			Symbol			MCG
			Shares Issued			87,439,344
			Close 2009-11-12			C$ 0.07
			Recent Sedar Documents

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Melco China Resorts (Holding) loses $5.97-million in Q3

2009-11-13 09:47 ET - News Release

Mr. Kevin O'Connor reports

MELCO CHINA RESORTS REPORTS THIRD QUARTER 2009 FINANCIAL AND OPERATIONAL RESULTS

Melco China Resorts (Holding) Ltd. today released its financial results for the three- and nine-month periods ended Sept. 30, 2009.

Financial results

Total revenue and the net results from continuing operations were from minimal resort operations for the three-month period ended Sept. 30, 2009, and Sept. 30, 2008, with no real estate sales activities being undertaken during these periods. For the three-month period ended Sept. 30, 2009, the company generated revenue from continuing operations of $220,000 versus $230,000 during the same period in 2008. Operating earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations were negative $2.17-million for the three-month period ended Sept. 30, 2009, compared with negative $3.68-million in the same period of 2008.

Resort operations expenses from continuing operations totalled $1.11-million for the third quarter of 2009 compared with $290,000 for the same period in 2008. The difference in operating expenses from continuing operations was mainly due to the higher operating costs attributed to the new resort facilities at Yabuli resort. For the nine-month period ended Sept. 30, 2009, the company generated revenues from resort operations of $1.88-million compared with $280,000 for the same period in 2008. The increase in revenue was due to resort operations for the whole period in 2009, compared with a four-month operation period recognized in 2008. Operating EBITDA from continuing operations for the nine-month period ended Sept. 30, 2009, were negative $12.16-million compared with negative $8.43-million over the same period in 2008. Net loss from continuing operations for the three- and nine-month periods was $5.5-million (six cents per share) and $23.5-million (27 cents per share) respectively.

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