Melco Crown (Philippines) Resorts Corp made a loss of PHP970.1 million (MOP175.11 million) in the first quarter of this year, our sister publication Business Daily reports. The newspaper quotes the company as saying it made a quarterly loss of PHP338.68 million a year earlier. The company is the subsidiary of Macau casino operator Melco Crown Entertainment Ltd that is developing the City of Dreams Manila casino-resort. Melco Crown (Philippines) Resorts is still building the casino-resort, so it has no revenue.
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