Melco Crown Entertainment Celebrates 10th Anniversary of NASDAQ Listing
December 15 2016 - 5:28AM
Melco Crown Entertainment Limited (Nasdaq:MPEL) (“
Melco
Crown Entertainment” or the “
Company” or
“
MCE” or “
we”), a developer,
owner and operator of casino gaming and entertainment casino resort
facilities in Asia, celebrates the 10th anniversary of its NASDAQ
listing today.
Mr. Lawrence Ho, Chairman and CEO
of the company officiates the Opening Bell ceremony at NASDAQ
MarketSite in Times Square, New York. The Company also announced
earlier today that its single largest shareholder Hong Kong-listed
Company Melco International Development Limited (“Melco”), via its
subsidiary, has signed an agreement to purchase shares of MCE from
Crown Resorts Limited (“Crown”). The closing of the Melco
Acquisition is conditional upon customary closing conditions and
other definitive agreements including the receipt of Macau
regulatory approval. The purchase is expected to be completed in
the first quarter of 2017. Upon closing of the purchase, Melco’s
ownership in MCE will increase from approximately 37.9% to 51.3%.
Mr. Ho said, “Our 10th
anniversary on NASDAQ is a memorable occasion to celebrate and
cherish. The Melco acquisition is certainly another tremendous
milestone for the company. It demonstrates my positive outlook and
faith in Macau’s long term future. Taking a majority ownership in
MCE will enable us to effectively capture the growth
opportunities in Macau and Asia’s gaming markets. We therefore ring
the NASDAQ bell today in honor of our past achievements, as well as
with a bigger anticipation of the many accomplishments that are yet
to come.”
Melco Crown Entertainment has a track record of
making history. Listed in December 2006, the Company was then the
largest IPO ever launched by an Asian company on NASDAQ, raising
approximately US$1.14 billion in proceeds and becoming the fourth
largest IPO in the United States that year. Over the years, MCE’s
expansion has had the support of the investment community. From
raising US$1.2 billion for refinancing in 2011 to US$1.4 billion in
2012 for developing Studio City, and most recently, completion of a
Senior Secured Notes Offering, such exercises evidenced investors’
unwavering support and confidence in MCE. This enthusiasm has also
given the Company the drive to continue creating extraordinary
experiences that transcend leisure and entertainment industry.
Consistent with the Company’s determination to
move forward, Mr. Ho concluded, “Melco Crown
Entertainment prides itself as a curator of excitement and
entertainment that breaks new grounds. We are thrilled about
exploring the new and building the coolest in the past decade. We
remain committed to exploring the next big thing. We have recently
announced our new hotel brand ‘Morpheus’ at City of Dreams, Macau
and its opening in 2018. Morpheus is designed to fulfill the dreams
of tomorrow’s most sophisticated international travelers, as well
as provide the catalyst for Macau to develop into a world center
for tourism and leisure. Though Macau will always be our home,
global expansion is the cornerstone of our development strategy. We
invest for the future and long-term shareholder values. We are
constantly looking for opportunities in other parts of Asia such as
Japan.”
Melco Crown Entertainment – Innovating excitement for a
new age.
Safe Harbor Statement
This press 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”,
“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 press
release is as of the date of this press 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 also majority owns and
operates 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 is strongly supported
by its single largest shareholder, Melco. 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 the
Chairman, Executive Director and Chief Executive Officer 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 enquiries,
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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