This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Melco Crown Entertainment's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Now moving on to our exciting pipeline of future growth opportunities. We recently received our revised formal land grant for Studio City. We are very grateful that the Macau Government has given us this unique opportunity to bring another world-class integrated resort to Macau, which we believe will further drive and broaden Macau's appeal as a world-class entertainment and leisure destination. We have also received our permit from the Macau Government, which allows us to restart our construction work at Studio City, giving us the ability to expedite the development of this exciting project.

Studio City will aim to focus on the mass market segment, and will have approximately 1,600 5-star and luxury hotel room, approximately 200,000 square feet of retail, numerous food and beverage outlets, a range of uniquely themed interactive attractions, a multi-purpose theater, as well as capacity for approximately 400 to 500 additional gaming tables.

As mentioned previously, the property's location is one of its key competitive advantages. Not only is Studio City directly adjacent to the increasingly important Lotus Bridge immigration center. And it also has direct access to one of only three light rail casino stops in Kotai, and it enables to book in the North and the South of the Kotai strip. We also recently entered into a memorandum of agreement for the development and operation of an integrated casino resort in Manila.

This project represents an attractive opportunity to expand our footprint in Asia, allowing us to diversify and expand our sources of earnings and cash flow without impacting our ability to fully leverage our current portfolio of assets in Macau, or impact our ability to pursue either our strong pipeline with the development opportunities in Macau, or any other future regional opportunities. We look forward to keeping you updated on our progress in relation to both these important milestones for our company.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,050.75 +138.46 0.82%
S&P 500 2,013.43 +15.91 0.80%
NASDAQ 4,810.7880 +19.6360 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs