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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Spekulatius who wrote (27807)	8/18/2007 4:20:58 PM
From: gcrispin	Respond to of 78644

The following is from a Street.com article quoting info from the CC this week. It appears to me that the story is still unfolding. Melco said average daily VIP rolling chip volume -- a key Macau operating statistic -- was $20 million in the second quarter. The volume more than doubled to $44 million in July and has improved another 25% to $55 million since the beginning of August. For the second quarter, Melco reported a loss of $69.2 million, or 6 cents a share, widened a loss of $5.2 million, or 1 cent a share, a year earlier. Heavy property-related expenses dragged down results. The period marked the first quarter that included any casino results, since the Crown property opened in May. Thus revenue for the quarter soared to $45.1 million from $5.5 million a year earlier. Melco said Crown's market share of total gaming revenue in Macau was 1.7% in May, 2.7% in June, and 4.9% in July. In August, the share rose to 7%, management said on the company's conference call.