MCE Finance net income up 75% to $211.2m

Group-wide operating performance "significantly" improved.

For the third quarter of 2013, MCE Finance announced that its total net revenues were US$1.26 billion, an increase of 24.0% from US$1.01 billion of net revenues for the third quarter of 2012. Net income for the third quarter of 2013 was US$211.2 million, as compared to US$120.7 million for the third quarter of 2012.

The increase in net revenue was primarily attributable to improved group-wide gaming performance, particularly in the mass market table games segment.

Net income for the third quarter of 2013 was $211.2 million, compared with net income of US$120.7 million in the third quarter of 2012. 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 ended September 30, 2013, the group's net revenue was $3.71 billion compared to US$2.99 billion for the nine months ended September 30, 2012. The year-over-year increase in net revenue was primarily driven by a strong performance in the mass market table games segments as well as increased rolling chip gross gaming revenues.

Net income for the first nine months of 2013 was US$534.2 million, compared with net income of US$347.9 million in the comparable period of 2012. The year-over-year improvements in net income was primarily attributable to the increase in mass market table games and gaming machine revenues and an increase in rolling chip volumes together with strict cost control focus, partially offset by lower group-wide rolling chip win rate as well as a one-off charge on the extinguishment and modification of debt relating to the refinancing of the 2010 Senior Notes with the 2013 Senior Notes.