Melco Crown Entertainment
PRESS RELEASE
City of Dreams to Open On June 1
Last update: 8:56 a.m. EDT May 6, 2009
NEW YORK, May 6, 2009 (GlobeNewswire via COMTEX) -- Melco Crown Entertainment Limited (MPEL:MPEL
MPEL, , ) , a developer and owner of casino gaming and entertainment resort facilities focused on the Macau market, today announced that City of Dreams, its urban integrated entertainment resort on Cotai, will open its doors to the public on June 1.
City of Dreams has been a passion of Mr. Lawrence Ho, Co-Chairman and CEO of Melco Crown Entertainment, since the liberalization of Macau's gaming market. "Our goal with City of Dreams, our flagship development in Macau, has been to set a new standard of gaming and entertainment experience in Asia. I believe that we will achieve this goal.
"City of Dreams is a 'must experience' next generation resort like no other in Asia, or perhaps the world, comprising distinctly branded casino floors, three separate world-class hotels, a unique shopping precinct 'The Boulevard' which wraps around the casino floors and links the three hotel towers, and an awe-inspiring fully immersive multimedia show housed in the unique theatre, 'The Bubble'."
Mr. Ho added, "The opening of City of Dreams represents a culmination of nearly five years of planning and development. As our flagship property, it represents a major step forward in Macau's transformation as the region's premiere leisure, entertainment, and gaming destination.
"In addition to creating close to 7,000 job opportunities in Macau and providing career advancement opportunities throughout our organization, we have been able to deliver on our commitment to the employees of Altira Macau by returning them to normalized work schedules. As a people-centric organization with deep roots in Macau, we remain committed to grooming our employees and to having more than 50 percent of our core management positions held by local Macau people by the end of 2011.
"With the opening of City of Dreams, I believe Melco Crown Entertainment is in the best position to thrive and add value to our stakeholders and the Macau community," Mr. Ho concluded.
The initial opening phase of City of Dreams on June 1 will feature:
* A distinctive and intimate next generation 420,000-square-foot
casino, with approximately 520 table games and 1,350
gaming machines;
* Crown Towers, with approximately 300 luxurious guest rooms,
including 33 high roller villas, offering unrivaled levels
of personalized service, lavish style, and uncompromising
sophistication;
* The exciting, music-inspired Hard Rock Hotel, with
approximately 300 guest rooms;
* Dragon's Treasure, a spectacular, one-of-its-kind, fully
immersive multimedia show within the iconic dome-shaped
theatre, 'The Bubble';
* Over 20 new restaurants and bars with food and beverage
concepts from across China and throughout the region; and
* 'The Boulevard,' a unique lifestyle-oriented retail precinct
that includes an impressive array of some of the world's
most sought-after retail brands, operated by leading travel
retailer DFS.
Grand Hyatt Macau, offering approximately 800 high-end guest rooms, is targeted for completion in the third quarter of 2009, and an original water-based theatrical show, inspired and produced by Franco Dragone, will open in the purpose-built Theater of Dreams soon thereafter. The final planned component of City of Dreams is a luxury apartment hotel consisting of approximately 800 units, which is currently on hold and subject to certain legal and regulatory approvals.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. 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. Melco Crown Entertainment Limited (the "Company") may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, 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. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: growth of the gaming market and visitation in Macau; finalization of credit facilities to finance construction of projects; the completion of the construction of our hotel casino resort projects; our acquisition and development of the Macau Peninsula site; increased competition and other planned casino hotel and resort projects in Macau and elsewhere in Asia; the completion of infrastructure projects in Macau; government regulation of the casino industry; our ability to raise additional financing; obtaining approval from the Macau government for an increase in the developable gross floor area of the City of Dreams site; the formal grant of an occupancy permit for City of Dreams; our anticipated growth strategies; and our future business development, results of operations and financial condition. Further information regarding these and other risks is included in our Annual Report on Form 20-F filed on March 31, 2009 and other documents filed with the Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press 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 Limited is a developer, owner and through a Macau subsidiary which holds a gaming sub-concession, an operator of casino gaming and entertainment casino resort facilities. The Company's first property, Altira Macau (formerly Crown Macau) ( www.altiramacau.com), opened on May 12, 2007. Other development projects include City of Dreams ( www.cityofdreamsmacau.com), an integrated urban casino resort located in Cotai, Macau. The Company's business also includes the Mocha Clubs ( www.mochaclubs.com), which feature a total of approximately 1,300 gaming machines in eight locations and comprise the largest non-casino based operations of electronic gaming machines in Macau. The Company has entered into an agreement, subject to certain conditions, to acquire a third development site on the Macau Peninsula. For more information about the Company, please visit www.melco-crown.com.
The Company has strong support from both of its major shareholders, Melco International Development Limited ("Melco") and Crown Limited ("Crown"). Melco is a listed company on the Hong Kong Stock Exchange and is substantially owned and led by Mr. Lawrence Ho, who is Co-Chairman, a Director and the CEO of the Company. Crown is a top 100 company listed on the Australian Stock Exchange and led by Executive Chairman James Packer, who is also Co-Chairman and a Director of the Company.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: Melco Crown Entertainment Limited
Melco Crown Entertainment Limited
Geoffrey Davis, CFA, Senior Vice President - Corporate Finance
+1 212-671-1936
geoffreydavis@melco-crown.com
(C) Copyright 2009 GlobeNewswire, Inc. All rights reserved.
Die ehemals portugiesische und heute chinesische Stadt Macau meldet weitere Superlativen: Die neue City of Dreams - die Stadt der Träume - glänzt als Mega-Resort auf dem COTAI-Strip, dem Meer abgerungenem Land zwischen den vorgelagerten Inseln Coloane und Taipa. Die Ausbauphase I mit einem gigantischen Entertainment- und Shopping-Komplex sowie einem Crown Towers und Hard Rock Hotel (jeweils 300 Zimmer) soll laut Betreiber Melco Crown Entertainment Ltd. am 1. Juni 2009 ihre Pforten öffnen. Melco bezeichnet das Projekt als sein "Flaggschiff in Asien" und als die nächste Generation eines Resorts, wie es in Asien und weltweit neue Maßstäbe setzt.
Mit einer "Mega Multimedia Animations Extravaganza" will die City of Dreams für zusätzliche Furore sorgen. "Dragon´s Treasure" - Schatz des Drachens - läuft im "The Bubble", einer 27-Meter hohen Theaterkuppel ohne Sitzplätze. Die zehnminütige Multi-Media-Show verbindet Video-Sequenzen mit Musik und 29.000 LED-Leuchten sowie einer Reihe von Spezialeffekten, die alle Sinne ansprechen. Für die Produktion zeichnet die amerikanische Kreativ-Agentur Falcon´s Treehouse verantwortlich.
Zum Komplex gehören zudem 20 asiatische und internationale Restaurants und Bars sowie ein 390.000 Quadratmeter Casino mit 520 Spieltischen und 1.350 Slotmachines. Diese reihen sich auf zwei Stockwerken entlang des "Boulevards". Dorthin bringt als offizieller Retail-Partner die internationale Kette DFS auch viele Marken, die interna-tional in den Bereichen Mode & Accessoires sowie Uhren & Schmuck führend sind: Bally, Burberry, Polo Ralph Lauren, Salvatore Ferragamo und Valentino sowie Chopard, Omega, Rolex und viele mehr.
Zu einer weiteren Ausbauphase gehört das Grand Hyatt Macau mit 800 Zimmern, das bis zum dritten Quartal 2009 seine Pforten öffnen soll. Auf das Luxus-Hotel folgt das Theatre of Dreams, in dem eine Show mit Wasser-Elementen läuft. Ein Apartment-Hotel mit 800 Wohnungen soll die "Stadt der Träume" komplettieren. Dafür stehen momentan noch die behördlichen Genehmigungen aus.
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22.05.2009