Melco Crown Q4 gains on strong mass market

    Melco Crown Entertainment says Q4 adjusted EBITDA rose 49 percent to $369 million, boosted by strong mass market and rolling chip revenues and cost controls. Revenue rose 27 percent to $1.39 billion. Co-Chairman and CEO Lawrence Ho said the results were driven mainly by the success of the mass business at the flagship City of Dreams property in Macau. Management has recommended to the board a special dividend of $191.2 million together with a new dividend policy. Full-year net income for Melco was $637.5 million compared with $417.2 million a year ago and matching analysts’ forecasts.