City of Dreams Manila sees revenues rise over 63% for 2016

City of Dreams Manila

City of Dreams Manila posted a huge rise in revenues for 2016 up 63.5% compared to 2015 at $491.2 million with the company that owns the resort Melco Crown (Philippines) Resorts run by Lawrence Ho stating that the rise was put down to VIP players.

The company announced on Monday to the Philippines Stock Exchange that EBITDA was $160.3 million for the year compared to $55.4 million in 2015 citing a huge rise in VIP revenues up 110.1%, however the mass market business in Manila for City of Dreams also enjoyed a rise of 24.6% from $441.4 million in 2015 to $550.5 million in 2016.

Taking out non gaming revenues the company drew in $104.7 million for 2016 compared to $100 million the previous year.