Studio City Issues Press Release on Gaming Table Allocation
October 20 2015 - 8:16AM
Studio City International Holdings Limited, a company in which
Melco Crown Entertainment Limited (NASDAQ:MPEL) owns a 60%
interest, issued the following press release today:
Studio City International Holdings Limited announced today that
the Macau government has authorized Studio City’s gaming operator,
Melco Crown (Macau) Limited, to operate 250 new gaming tables and
1,233 new gaming machines at the Studio City gaming areas, of which
200 gaming tables and 1,233 gaming machines may be in operation
upon the opening of Studio City with the remaining 50 gaming tables
authorized to be in operation beginning in January 2016. Studio
City’s gaming operator is a Macau gaming subconcessionaire and a
member of Melco Crown Entertainment.
Following the table allocation confirmation, Studio City
intends to proactively engage the lenders under its senior credit
facilities to discuss proposed amendments to the terms of its loan
documentation to reflect the number of tables allocated.
Studio City, a Hollywood-inspired integrated resort located in
Macau, will offer visitors a truly diverse mix of World-class
entertainment and other non-gaming attractions which support
Macau’s evolution in to the leading leisure and tourism destination
in Asia. It will also offer unprecedented non-gaming careers for
local Macau employees. The resort will officially open on October
27, 2015, as previously announced.
“We thank the Macau Government for its consideration of our
application and approval of gaming tables and machines for Studio
City. We are confident that Studio City’s offering of
cinematically-themed entertainment, retail, food & beverage and
accommodation options will contribute meaningfully to the economic
and employment diversification of Macau. We are excited to welcome
Studio City’s first patrons later this month,” said Mr.
Lawrence Ho, Co-Chairman and Chief Executive Officer of Melco Crown
Entertainment.
Safe Harbor Statement
This release contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. The Company may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission (the “SEC”), in its annual
report to shareholders, in press releases and other written
materials and in oral statements made by its officers, directors or
employees to third parties. Statements that are not historical
facts, including statements about the Company’s beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties, and a number
of factors could cause actual results to differ materially from
those contained in any forward-looking statement. These factors
include, but are not limited to, (i) growth of the gaming market
and visitation in Macau and the Philippines, (ii) capital and
credit market volatility, (iii) local and global economic
conditions, (iv) our anticipated growth strategies, (v) gaming
authority and other governmental approvals and regulations and (vi)
our future business development, results of operations and
financial condition. In some cases, forward-looking statements can
be identified by words or phrases such as “may”, “will”, “expect”,
“anticipate”, “target”, “aim”, “estimate”, “intend”, “plan”,
“design”, “on track”, “believe”, “potential”, “continue”, “is/are
likely to” or other similar expressions. Further
information regarding these and other risks, uncertainties or
factors is included in the Company’s filings with the SEC. All
information provided in this release is as of the date of this
release, and the Company undertakes no duty to update such
information, except as required under applicable law.
About Melco Crown Entertainment
Limited
Melco Crown Entertainment, with its American
depositary shares listed on the NASDAQ Global Select Market
(NASDAQ:MPEL), is a developer, owner and operator of casino gaming
and entertainment casino resort facilities in Asia. Melco Crown
Entertainment currently operates Altira Macau
(www.altiramacau.com), a casino hotel located at Taipa, Macau and
City of Dreams (www.cityofdreamsmacau.com), an integrated urban
casino resort located in Cotai, Macau. Melco Crown Entertainment’s
business also includes the Mocha Clubs (www.mochaclubs.com), which
comprise the largest non-casino based operations of electronic
gaming machines in Macau. The Company is also developing the
planned Studio City (www.studiocity-macau.com), a
cinematically-themed integrated entertainment, retail and gaming
resort in Cotai, Macau. In the Philippines, Melco Crown
(Philippines) Resorts Corporation’s subsidiary, MCE Leisure
(Philippines) Corporation, currently operates and manages City of
Dreams Manila (www.cityofdreams.com.ph), a casino, hotel, retail
and entertainment integrated resort in the Entertainment City
complex in Manila. For more information about Melco Crown
Entertainment, please visit www.melco-crown.com.
Melco Crown Entertainment has strong support
from both of its major shareholders, Melco International
Development Limited (“Melco”) and Crown Resorts
Limited (“Crown”). Melco is a listed company
on the Main Board of The Stock Exchange of Hong Kong Limited and is
substantially owned and led by Mr. Lawrence Ho, who is Co-Chairman,
an Executive Director and the Chief Executive Officer of Melco
Crown Entertainment. Crown is a top-50 company listed on the
Australian Securities Exchange and led by Mr. James Packer, who is
also Co-Chairman and a Non-executive Director of Melco Crown
Entertainment.
For
investment
community,
please
contact:
Ross DunwoodyVice President, Investor
RelationsTel: +853 8868 7575 or +852 2598 3689Email:
rossdunwoody@melco-crown.com
For
media
enquiry,
please
contact:
Maggie MaSenior Vice President, Corporate
Communications and Public RelationsTel: +853 8868 3767 or +852 3151
3767Email: maggiema@melco-crown.com
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