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Babesia is caused by microscopic parasites and is transmitted primarily through tick bites. However, as the disease is spread during ticks' young nymph stage, many patients are unaware of a tick encounter. There may be no symptoms, or those affected may experience flu-like symptoms. The disease destroys red blood cells and can lead to hemolytic anemia (jaundice and hemoglobinuria). Individuals with compromised immune systems may experience more severe complications. Although widespread, the main concentrations of the disease are found in the Northeastern and Midwestern portions of the U.S., according to the Center for Disease Control (CDC). The latest data from the CDC show more than 1,700 people were affected by Babesia in 2014 with highest concentrations in Massachusetts, New York, Connecticut, Rhode Island, New Jersey, Maine, New Hampshire, Wisconsin, and Minnesota. The Procleix Babesia assay is designed to be a qualitative in vitro nucleic acid screening test for the direct detection of the Babesia parasite in specimens from human blood donors on the fully automated Procleix Panther system platform. This test, developed by Grifols Diagnostic Solutions, Inc., is designed to enable participating blood banks and donor centers in the U.S. to test donations to further safety of their blood supplies. "The availability of the assay under the IND protocol and in collaboration with the FDA marks another important milestone for Grifols," said Grifols Diagnostic Division President, Carsten Schroeder. "As leaders in the NAT blood screening market, we remain committed to preserve the safety of blood donations from the presence of unwanted pathogens. The Procleix Babesia assay will add to our growing portfolio and has been expressly designed to address the needs of the blood banking community." Currently, the majority of blood donations in the U.S. are being tested with the Procleix Zika virus assay (on the Procleix Panther system), released in June 2016 under an IND study. About Procleix NAT Solutions Today, Procleix systems are used to screen more blood donations around the world than any other NAT blood screening products, and include tests for HIV, hepatitis (A, B, C and E) viruses, West Nile virus and more. The Procleix Panther system automates all aspects of NAT-based blood screening on a single, integrated platform. It eliminates the need for batch processing and combines walk-away freedom with intuitive design for ease of use. The system has received regulatory approvals in countries around the world, and is in development for the U.S. market. About Grifols Grifols is a global healthcare company with more than a 75-year legacy of improving people's health and well-being through the development of protein therapies, hospital pharmacy products and diagnostic technology for clinical use. The company is present in more than 100 countries worldwide, with headquarters located in Barcelona, Spain. Grifols is a leader in plasma collection with a network of more than 170 plasma donation centers in the U.S., and is a leading producer of plasma-derived medicines. As a recognized leader in transfusion medicine, Grifols offers a comprehensive range of transfusion medicine, hemostasis, and immunoassay solutions for clinical laboratories, blood banks, and transfusion centers. In 2016, sales exceeded 4,000 million euros with approximately 15,000 employees. Grifols demonstrates its commitment to advancing healthcare by allocating a significant portion of its annual income to R&D. The company's class A shares are listed on the Spanish Stock Exchange, where they are part of the Ibex-35 (MCE: GRF). Its non-voting class B shares are listed on the Mercado Continuo (MCE: GRF.P) and on the U.S. NASDAQ via ADRs (NASDAQ: GRFS). For more information visit www.grifols.com. Procleix is a registered trademark of Grifols Worldwide Operations Limited. Panther is a registered trademark of Hologic, Inc. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/investigational-new-drug-application-is-now-effective-for-babesia-screening-in-blood-donations-using-grifols-procleix-panther-system-in-the-us-300454212.html


MACAU, May 15, 2017 (GLOBE NEWSWIRE) -- Melco Resorts Finance Limited, formerly known as MCE Finance Limited (“Melco Resorts Finance”), announces that it proposes to conduct an international offering of senior notes due 2025 (the “New Notes”), the net proceeds from which will be used to fund the redemption of all of its outstanding 5.00% Senior Notes due 2021 (the “Existing Notes”).  Melco Resorts Finance is a wholly-owned subsidiary of Melco Resorts & Entertainment Limited (“Melco”).  The New Notes are proposed to be senior obligations of Melco Resorts Finance, ranking equally with all of Melco Resorts Finance’s existing and future senior indebtedness. Melco will not be a guarantor of the New Notes. The interest rate and other terms of the New Notes will be determined at the time of pricing of the offering.  Completion of the proposed offering of the New Notes is subject to market conditions and investor interest.  As no binding agreement in relation to the proposed offering of the New Notes has been entered into as at the date of this press release, the proposed New Notes may or may not be issued. Melco Resorts Finance today also announces that it has initiated a conditional redemption of all of the Existing Notes.  The redemption is subject to the receipt by Melco Resorts Finance on or prior to the redemption date of funds in an aggregate amount sufficient to redeem the Existing Notes (the “Condition”) from the proposed offering of the New Notes.  The redemption date (the “Redemption Date”) shall be, subject to the satisfaction or waiver of the Condition, June 14, 2017, provided that if the Condition shall not have been satisfied or waived by June 14, 2017, the redemption date shall be the business day immediately following the satisfaction of the Condition but no later than July 13, 2017.  If the Condition is not satisfied or waived by July 13, 2017, the Existing Notes will not be redeemed and any redemption of the Existing Notes prior to their maturity date will be pursuant to a new redemption notice. The Existing Notes will be redeemed at a redemption price equal to 102.500% of the principal amount outstanding of the Existing Notes plus accrued and unpaid interest and additional amounts, if any, on the Existing Notes redeemed, to the Redemption Date (the “Redemption Price”). The Notice of Redemption for the Existing Notes was sent to all registered holders on May 15, 2017.  Unless Melco Resorts Finance defaults in the payment of the Redemption Price or the Condition to the redemption is not satisfied, interest on the Existing Notes called for redemption ceases to accrue on and after the Redemption Date. The New Notes are being proposed to be offered and sold in the United States to qualified institutional buyers pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and outside of the United States in reliance on Regulation S under the Securities Act. The proposed New Notes will not be registered under the Securities Act or under the securities laws of any state or other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state laws.  Melco Resorts Finance does not intend to register any portion of the offering of the proposed New Notes in the United States. Nothing in this press release constitutes an offer to buy, or a solicitation of an offer to sell, securities in the United States or any other jurisdiction in which such offer or solicitation would be unlawful. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act. 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. Melco Resorts & 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 (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. For media enquiry, please contact: Maggie Ma Chief Corporate Communications and Corporate Affairs Officer Tel: +853 8868 3767 or +852 3151 3767 Email: maggiema@melco-resorts.com For investment community, please contact: Ross Dunwoody Vice President, Development and Investor Relations Tel: +853 8868 7575 or +852 2598 3689 Email:  rossdunwoody@melco-resorts.com


News Article | April 24, 2017
Site: www.prnewswire.com

MADRID, April 24, 2017 /PRNewswire/ -- PharmaMar (MCE: PHM), a leading biopharmaceutical company focused on the discovery and development of innovative marine-derived anticancer drugs, will host today a Research and Development Event in New York from 10:30 am - 1:30 pm ET.    ...


MACAU, Feb. 21, 2017 (GLOBE NEWSWIRE) -- Melco Crown Entertainment’s (NASDAQ:MPEL) (“Melco Crown Entertainment”) flagship integrated resort City of Dreams announced today that its Chinese culinary masterpiece Jade Dragon and contemporary French restaurant The Tasting Room have both earned a place on the 2017 list of Asia’s 50 Best Restaurants, building on their two Michelin-star and Forbes Five-Star resumes. Jade Dragon and The Tasting Room, both homegrown restaurant brands, represented the only two entries from Macau on this year’s list. City of Dreams is now the only destination in Macau that boasts restaurants with this prestigious regional honor. Dubbed the “Oscars of the culinary world”, Asia's 50 Best Restaurants is a critically acclaimed gastronomic guide which recognizes the finest restaurants in Asia every year since 2013. With Jade Dragon (No. 32) and The Tasting Room (No. 39) joining the elite group of top 50 restaurants on the continent, City of Dreams once again elevated Macau’s presence and recognition in Asia’s dining landscape. “City of Dreams has been constantly living up to its promise of innovation, best-in-class hospitality and world-class experience. We are truly honored that our signature homegrown brands Jade Dragon and The Tasting Room are once again showcased to the world, highlighting what we have to offer. This prestigious recognition is a testament to our dedication and commitment to product and service excellence, and a tribute to our culinary teams who work seamlessly to create the ultimate dining experience for our discerning guests,” said Mr. Jarlath Lynch, Senior Vice President of Hotels and Food & Beverage, Melco Crown Entertainment Limited. “Going forward, we remain fully committed to continuously driving the quality and raising the bar on fine dining in Macau, which will help the ongoing transformation of this city into the top gastronomic destination in the region.” At City of Dreams, you will be taken on a culinary journey by our amazing team of award-winning chefs. Two Michelin-starred Jade Dragon showcases exquisite Cantonese specialties and innovative modern presentations by using the best organic and farm-fresh ingredients from around the world. The Tasting Room promises a two-Michelin-starred gastronomic adventure featuring artistically presented delicacies cooked using the authentic French technique based modern approach. Both with spectacular designer décor and superlative personalized services, the two restaurants have collectively set the new benchmark for fine dining in Macau. Asia’s 50 Best Restaurants is judged by Asia’s 50 Best Restaurants Academy, an influential group of over 300 leaders in the restaurant industry across Asia. With 12 countries and regions represented, the 2017 list features restaurants from Thailand, Japan, Singapore, China, Hong Kong, Macau, India, South Korea, Sri Lanka, Taiwan, the Philippines and Indonesia, showcasing a diverse variety of dining experiences across Asia. About Jade Dragon Located at Crown Towers, City of Dreams, Jade Dragon is renowned for its premium Cantonese specialties and creative presentations. The restaurant delights diners with delectable Chinese delicacies and exceptional bespoke services that have raised the bar on top notch Chinese dining in Macau. Honors and awards include: Asia’s 50 Best Restaurants 2017 (No. 32) MICHELIN Guide Hong Kong Macau 2016 – 2017 (two stars) MICHELIN Guide Hong Kong Macau 2014 – 2015 (one star) Forbes Travel Guide Five-Star Awards 2014 – 2016 Hong Kong Tatler Best Restaurants (Top 20 Restaurants) 2014 – 2017 Hong Kong Tatler Best Restaurants (Best Dim Sum award) 2015  SCMP 100 Top Tables 2014 – 2016 Food & Wine Magazine 50 Best Restaurants Award 2013 About The Tasting Room Located at Crown Towers, City of Dreams, The Tasting Room presents exquisite and contemporary regional French cuisine guaranteed to titillate the senses, by showcasing impeccable flavor combinations using the season’s most delicious ingredients from around the world. Honors and awards include: Asia’s 50 Best Restaurants 2017 (No. 39) MICHELIN Guide Hong Kong Macau 2016 – 2017 (two stars) MICHELIN Guide Hong Kong Macau 2013 – 2015 (one star) Forbes Travel Guide Five-Star Awards 2014 – 2016 Hong Kong Tatler Best Restaurants (Top 20 Restaurants) 2014 – 2017  SCMP 100 Top Tables 2014 – 2016 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 markets and visitations 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 International Development Limited, a company listed 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. About City of Dreams City of Dreams is developed by Melco Crown Entertainment Limited, an entertainment company listed on the NASDAQ Global Select Market (NASDAQ:MPEL). It is an integrated entertainment resort that has established itself as a premier leisure and entertainment destination in Macau. Located in the heart of Cotai in Macau, it combines electrifying entertainment, a diverse array of accommodation, regional and international dining, designer brand shopping and a spacious and contemporary casino. The resort brings together a collection of world-renowned brands including Crown, Grand Hyatt, Hard Rock and Dragone to create an exceptional entertainment experience that aims to appeal to a broad spectrum of visitors from around Asia and the world. City of Dreams features a 420,000-square-foot casino with approximately 500 gaming tables and approximately 1,250 gaming machines; over 20 restaurants and bars; an impressive array of some of the world’s most sought-after retail brands; ‘The House of Dancing Water’, the world’s largest water-based extravaganza showcased in the purpose-built Dancing Water Theater, represents the live entertainment centerpiece of City of Dreams’ overall leisure and entertainment offering. A comprehensive range of accommodation options at City of Dreams include Crown Towers offering approximately 300 guest rooms, Hard Rock Hotel offering approximately 300 guest rooms and Grand Hyatt Macau offering approximately 800 guest rooms. In addition, Morpheus, the new hotel at City of Dreams designed by the late legendary architect Dame Zaha Hadid, is expected to commence operation in 2018, offering approximately 780 guestrooms, suites and villas. For more information please visit: www.cityofdreamsmacau.com (Official Website) and www.cityofdreamsmedia.com (Media Portal). For The House of Dancing Water information, please visit www.thehouseofdancingwater.com (Official Website) and www.thehouseofdancingwatermedia.com (Media Portal).


MACAU, Feb. 22, 2017 (GLOBE NEWSWIRE) -- Melco Crown Entertainment Limited (Nasdaq:MPEL) (“Melco Crown Entertainment” or the “Company”), a developer, owner and operator of casino gaming and entertainment resort facilities in Asia, proudly announced today that it has received nine Forbes Five-Star and one Four-Star ratings for its hotels, spas and restaurants at Altira Macau and Crown Towers at City of Dreams.  Melco Crown Entertainment has again won the most Forbes Five-star Awards in Macau this year, the recognition further cements the Company’s unshakable position as leader of the luxury travel segment. Astute travelers who look for the highest level of style, comfort and sophistication invariably return to Altira Macau and Crown Towers at City of Dreams as the Company never ceases to amaze. City of Dreams’ Crown Towers has been garnering Forbes Star Ratings since 2010 and is the first hotel brand in Macau to have earned the Forbes Travel Guide Five-Star distinction for its hotel, spa and all of its restaurants in 2014. City of Dreams has continued its eight-year winning streak this year with Five-Star ratings awarded for Crown Towers, Crown Spa, the contemporary French restaurant The Tasting Room, the Cantonese culinary masterpiece Jade Dragon, and premium Japanese fine-dining establishment Shinji by Kanesaka. In particular, Shinji by Kanesaka has stunned the jury with its gastronomic delights and sublime dining experience, consequently receiving a near perfect overall composite score of 95%. For eight consecutive years, both Altira Macau and its Altira Spa have received the highest Five-Star Award ratings, while the hotel’s signature Italian restaurant Aurora and prime Japanese restaurant Tenmasa have achieved Five-Star ratings for the fourth and third consecutive years respectively. Michelin-starred Cantonese restaurant Ying, has also been rated Four-Star for the third time, and the Japanese seafood restaurant Kira received a recommended rating. Mr. Lawrence Ho, Chairman and Chief Executive Officer of Melco Crown Entertainment, said, “We pride ourselves on being the purveyors of excitement and entertainment, and are at the vanguard of luxury development that breaks new ground. We are extremely thrilled and honored to be recognized by the authoritative Forbes Travel Guide. It is in the Company’s DNA to provide impeccable services and distinguished products for our esteemed guests. I would like to take this opportunity to thank our hotel operations and F&B teams for their unwavering dedication to excellence over the years, without which we would not be ahead of the pack today.” Forbes Travel Guide has established the most prestigious standard for luxury hospitality in the world. It is the originator of the respected Five-Star Rating system and has provided the travel industry with the most comprehensive ratings and reviews of hotels, restaurants and spas since 1958. Forbes Travel Guide has a team of expert inspectors who anonymously evaluate properties against up to 800 rigorous and objective standards. Presently, the guide covers 162 destinations across 44 countries. 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 markets and visitations 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. 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 International Development Limited, a company listed 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 Dunwoody Vice President, Investor Relations Tel: +853 8868 7575 or +852 2598 3689 Email: rossdunwoody@melco-crown.com For media enquiries, please contact: Maggie Ma Chief Corporate Communications and Corporate Affairs Officer Tel: +853 8868 3767 or +852 3151 3767 Email: maggiema@melco-crown.com


TOKYO, Feb. 22, 2017 (GLOBE NEWSWIRE) -- Melco Crown Entertainment Limited (Nasdaq:MPEL) (“Melco Crown Entertainment,” “MCE,” the “Company” or “we”), a developer, owner and operator of casino gaming and entertainment casino resort facilities in Asia, today unveiled the inspiration behind the potential concept of its integrated resorts in Japan, and reaffirmed its commitment to collaborate with potential host cities and the national government on the development of unique and exciting world-class integrated resorts that celebrate the  best of Japan and its culture. Photos accompanying this announcement are available at http://www.globenewswire.com/NewsRoom/AttachmentNg/27a18bf9-6f5e-4353-ad9a-667bfadc33d4 http://www.globenewswire.com/NewsRoom/AttachmentNg/3c212c73-e946-4efb-a139-df1a7b290841 http://www.globenewswire.com/NewsRoom/AttachmentNg/2345e5de-f36f-48c2-a6e1-742398156036 http://www.globenewswire.com/NewsRoom/AttachmentNg/67410d56-52d3-4646-b475-79ff2feedf58 Mr. Lawrence Ho, Chairman and Chief Executive Officer of MCE said, “Melco Crown Entertainment has always had a keen interest in Japan. Indeed, I personally, together with my executive management team, have been closely looking at this market for over a decade. We are thrilled by the active approach of the Japanese government on the recently passed integrated resort legislation.” Talking about his company, Mr. Ho said, “Melco Crown Entertainment’s integrated resort properties and facilities have always been the pride of the cities where we operate. We are never content to replicate past successes but focus on developing world-class integrated resorts that celebrate the culture and uniqueness of our partner cities. Our innovation and 5-star-plus service culture have garnered many international and Asian awards and recognition, as validated by the fact that we have the most Michelin-starred restaurants and the most Forbes five-star hotel facilities in Macau.” In regards to the concern on potential social issues related to the IR development, Ho continued, “The operation of integrated resorts is a highly regulated industry. With integrated resorts in multiple jurisdictions, Melco Crown Entertainment has consistently demonstrated its industry leadership in respect of social safeguards and has upheld the highest standards of corporate governance and social responsibility. The Company has widely-recognized responsible gaming programs that proactively educate the public and its employees, protect against problem gambling, and guard communities against criminal elements.” “Our commitment in Japan is for the long term. MCE is excited and honored to have the opportunity to take part in this transformational moment for Japan. We are determined to work with the Japanese government and local partners and communities to create the city’s first integrated resort which delivers long lasting benefits to Japan. As I have said, there currently is no predetermined cap on our intended investment in Japan; our focus is on uniqueness, great design and world-class entertainment offerings. I prefer not to constrain our dreams, ambitions, passion and commitment in Japan with price tags, particularly at this early stage. With our unsurpassed track record of developing and operating highly sophisticated and truly unique integrated resorts around the world, I am confident that MCE’s ultimate vision will support the government’s aspirations for an integrated resort that is unique to Japan and delights its people, as well as drawing tourists from around the world.” Aspiring to create an unrivaled and innovative integrated resort in Japan, Mr. Geoffrey Stuart Davis, Executive Vice President and Chief Financial Officer of the Company, gave a sneak peek of the inspiration behind the potential concept of its integrated resorts for the locations in Umekita and Yumeshima, Osaka and said, “Melco Crown Entertainment has long been known for its innovative architectural designs that thoughtfully and harmoniously reflect the culture and beauty of the city’s landscape. In past years, we have explored several potential locations in Osaka, Tokyo, and Yokohama. Today, I am pleased to present our cutting edge destination concept. The design for Umekita was the creation of the late Dame Zaha Hadid, DBE, who embraced simplicity and sustainability. Her work would help create an iconic new landmark in Japan. We are however open-minded as to location, and respectfully look for guidance from the Japanese government regarding the approach to building and operating integrated resorts in Japan because we believe they know what is best for the Japanese people and the national and local economies.” Mr. Davis also provided insights on the Japan integrated resorts outlook and said, “We believe that a culturally-sensitive, socially responsible, innovative integrated resort operator who also recognizes the importance of collaboration and partnership is the key element in an IR development. Melco Crown Entertainment and its affiliates have a proven track record in successful collaborations, including the Melco-Crown joint venture which secured the last of only 6 casino licenses in Macau back in 2006; a strategic partnership with SM/Belle Corporation, the Philippines’ largest corporation and real estate developer, on the IR development “City of Dreams Manila” in 2014; and as part of a multinational consortium with Hard Rock International and Cyprus Phasouri (Zakaki) Limited, member of the CNS Group, winning the IR bid in 2016 to build and operate the first casino resort in Cyprus. We have also teamed with many global brands – Warner Bros., DC Comics, DreamWorks, NOBU, Franco Dragone, Tenmasa and Kanesaka. Leveraging our successful relationships with different partners, we hope to engage and closely collaborate with local partners and communities in Japan, and will fully support the Japanese government in creating a truly inspiring, world-class integrated resort consistent with government’s visions." "The introduction of world-class integrated entertainment resorts will deliver enormous benefits to Japan, including diversifying the tourism sector, encouraging business, creating jobs and boosting local economic and social development. These advantages would in turn contribute meaningfully to economic growth and prosperity in Japan." 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 markets and visitations 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. 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 International Development Limited, a company listed 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. The photos are also available at Newscom, www.newscom.com, and via AP PhotoExpress. For media enquiries, please contact: Maggie Ma Chief Corporate Communications and Corporate Affairs Officer Tel: +853 8868 3767 or +852 3151 3767 Email: maggiema@melco-crown.com For investment community, please contact: Ross Dunwoody Vice President, Investor Relations Tel: +853 8868 7575 or +852 2598 3689 Email: rossdunwoody@melco-crown.com


MACAU, Feb. 16, 2017 (GLOBE NEWSWIRE) -- Melco Crown Entertainment Limited (Nasdaq:MPEL) (“Melco Crown Entertainment” or the “Company” or “we”), a developer, owner and operator of casino gaming and entertainment casino resort facilities in Asia, today reported its unaudited financial results for the fourth quarter and full year ended December 31, 2016. Net revenue for the fourth quarter of 2016 was US$1,192.9 million, representing an increase of approximately 13% from US$1,058.0 million for the comparable period in 2015. The increase in net revenue was primarily attributable to the net revenue generated by a fully-operating Studio City, which started operations in October 2015, and the increase in casino revenues at City of Dreams Manila, partially offset by lower casino revenues at City of Dreams in Macau and Altira Macau. On a U.S. GAAP basis, operating income for the fourth quarter of 2016 was US$116.0 million, compared with operating loss of US$17.8 million in the fourth quarter of 2015. Adjusted property EBITDA(1) was US$304.3 million for the fourth quarter of 2016, as compared to Adjusted property EBITDA of US$236.4 million in the fourth quarter of 2015, representing an increase of 29%. This year-on-year improvement in Adjusted property EBITDA was mainly attributable to the contribution from a fully-operating Studio City and increase in casino revenues at City of Dreams Manila, partially offset by lower contribution from Altira Macau. On a U.S. GAAP basis, net income attributable to Melco Crown Entertainment for the fourth quarter of 2016 was US$43.3 million, or US$0.09 per ADS, compared with a net loss attributable to Melco Crown Entertainment of US$12.3 million, or US$0.02 per ADS, in the fourth quarter of 2015. The net loss attributable to noncontrolling interests during the fourth quarter of 2016 of US$26.8 million was related to Studio City and City of Dreams Manila. Mr. Lawrence Ho, Chairman and Chief Executive Officer of Melco Crown Entertainment, commented, “We delivered a strong set of results in the fourth quarter of 2016, highlighted by record mass table gross gaming revenues in Macau and a 29% year-on-year increase in group-wide Adjusted property EBITDA. “Our Flagship property in Macau, City of Dreams, generated Adjusted property EBITDA of approximately US$190 million, an increase of over 10% compared to the prior quarter, despite an increase in supply in Macau, highlighting the property’s ongoing position as a leader in the premium gaming segments in Macau. “Studio City’s mass table games revenues continued to expand, increasing almost 10% from the prior quarter which, combined with the rolling chip operations that began in November 2016, delivered a strong improvement in underlying earnings. While the recently opened rolling chip operations broaden the property’s gaming proposition, Studio City’s core focus remains on its mass market offerings which are ideally aligned to the demand landscape in Macau. “Macau continues to show signs of a broader recovery, with January 2017 representing the sixth month in a row of year-on-year increases in Macau’s gross gaming revenues. We believe that Macau’s long term success relies on its ability to cater to the rapidly evolving demands of leisure and entertainment seekers from around the region, most notably from Mainland China. Our world-class portfolio of properties in Macau gives us a unique ability to cater to a wider spectrum of gaming customers, including mainstream mass, premium mass, junket and direct VIP customers, while also offering tourists a vast non-gaming and entertainment proposition which is unrivalled in Macau. “City of Dreams Manila, our integrated resort in the fast growing gaming market of the Philippines, continues to increase its gaming market share by delivering another strong quarter fueled by revenue growth across all gaming segments. The improvement in gaming operations together with cost efficiencies identified through our company-wide focus on managing reinvestment and other operating expenses, resulted in our Adjusted property EBITDA in Manila increasing by 224% on a year-on-year basis. “As previously announced, we have changed our ordinary dividend policy to one targeting a quarterly cash dividend payment of US$0.03 per ordinary share (equivalent to US$0.09 per American depositary share (“ADS”), each representing three ordinary shares) of the Company, providing a larger, stable and more predictable ordinary dividend payout. In addition, we recently announced and paid an approximately US$650 million special dividend to shareholders, highlighting our continued commitment to returning surplus capital to shareholders, while retaining significant financial flexibility to pursue other value-accretive development opportunities. “Our Company has undergone an exciting transformation over the past several months. Melco International Development Limited, a company of which I am Chairman and Chief Executive Officer, has completed the acquisition of an additional 13.4% of the shares of Melco Crown Entertainment earlier today, increasing its ownership in the Company to approximately 51.3%. This transaction highlights the steadfast confidence and commitment I have in the markets where we operate, the development and expansion opportunities that are available to our Company, the positioning of our world-class properties and, most importantly, our tremendous employees and current management team that continue to deliver a level of service and experience which underpins our Company’s success.” For the quarter ended December 31, 2016, net revenue at City of Dreams was US$661.1 million compared to US$669.0 million in the fourth quarter of 2015. City of Dreams generated Adjusted EBITDA of US$188.7 million in the fourth quarter of 2016, representing a decrease of 2% compared to US$192.2 million in the comparable period of 2015. The decline in Adjusted EBITDA was primarily a result of lower mass market table games revenues and rolling chip revenues, partially offset by an increase in non-gaming revenue mainly driven by the opening of the new retail precinct in 2016. Rolling chip volume totaled US$11.1 billion for the fourth quarter of 2016 versus US$10.2 billion in the fourth quarter of 2015. The rolling chip win rate was 2.6% in the fourth quarter of 2016 versus 2.8% in the fourth quarter of 2015. The expected rolling chip win rate range is 2.7%-3.0%. Mass market table games drop decreased to US$1,109.9 million compared with US$1,124.9 million in the fourth quarter of 2015. The mass market table games hold percentage was 36.3% in the fourth quarter of 2016 compared to 37.1% in the fourth quarter of 2015. Gaming machine handle for the fourth quarter of 2016 was US$1,051.8 million, compared with US$1,071.1 million in the fourth quarter of 2015. The gaming machine win rate was 3.9% in the fourth quarter of 2016 versus 3.4% in the fourth quarter of 2015. Total non-gaming revenue at City of Dreams in the fourth quarter of 2016 was US$79.2 million, compared with US$67.6 million in the fourth quarter of 2015. For the quarter ended December 31, 2016, net revenue at Altira Macau was US$103.3 million compared to US$142.0 million in the fourth quarter of 2015. Altira Macau generated Adjusted EBITDA of US$3.3 million in the fourth quarter of 2016 compared with Adjusted EBITDA of US$9.7 million in the fourth quarter of 2015. The year-on-year decrease in Adjusted EBITDA was primarily a result of lower rolling chip revenues. Rolling chip volume totaled US$4.4 billion in the fourth quarter of 2016 versus US$4.8 billion in the fourth quarter of 2015. The rolling chip win rate was 2.7% in the fourth quarter of 2016 versus 3.3% in the fourth quarter of 2015. The expected rolling chip win rate range is 2.7%-3.0%. In the mass market table games segment, drop totaled US$112.8 million in the fourth quarter of 2016, a decrease from US$133.4 million generated in the comparable period in 2015. The mass market table games hold percentage was 19.2% in the fourth quarter of 2016 compared with 19.4% in the fourth quarter of 2015. Gaming machine handle for the fourth quarter of 2016 was US$7.9 million, compared with US$7.7 million in the fourth quarter of 2015. The gaming machine win rate was 6.8% in the fourth quarter of 2016 versus 5.8% in the fourth quarter of 2015. Total non-gaming revenue at Altira Macau in the fourth quarter of 2016 was US$7.1 million compared with US$7.6 million in the fourth quarter of 2015. Net revenue from Mocha Clubs totaled US$28.9 million in the fourth quarter of 2016 as compared to US$32.0 million in the fourth quarter of 2015. Mocha Clubs generated US$5.4 million of Adjusted EBITDA in the fourth quarter of 2016 compared with US$6.4 million in the same period in 2015. Gaming machine handle for the fourth quarter of 2016 was US$614.4 million, compared with US$669.6 million in the fourth quarter of 2015. The gaming machine win rate was 4.6% in the fourth quarter of 2016 versus 4.7% in the fourth quarter of 2015. For the quarter ended December 31, 2016, net revenue at Studio City was US$246.2 million compared to US$123.2 million in the fourth quarter of 2015. Studio City generated Adjusted EBITDA of US$56.7 million in the fourth quarter of 2016 compared with Adjusted EBITDA of US$12.6 million in the fourth quarter of 2015. The year-on-year improvement in Adjusted EBITDA was primarily a result of having full operations in the fourth quarter of 2016, since Studio City started operations on October 27, 2015 and began rolling chip operations in November 2016. Rolling chip volume totaled US$1.3 billion for the fourth quarter of 2016. The rolling chip win rate was 1.4% in the fourth quarter of 2016. The expected rolling chip win rate range is 2.7%-3.0%. Mass market table games drop increased to US$683.2 million compared with US$365.3 million in the fourth quarter of 2015. The mass market table games hold percentage was 26.9% in the fourth quarter of 2016 compared to 22.4% in the fourth quarter of 2015. Gaming machine handle for the fourth quarter of 2016 was US$519.3 million, compared with US$264.9 million in the fourth quarter of 2015. The gaming machine win rate was 3.9% in the fourth quarter of 2016 versus 4.9% in the fourth quarter of 2015. Total non-gaming revenue at Studio City in the fourth quarter of 2016 was US$53.3 million, compared with US$37.8 million in the fourth quarter of 2015. For the quarter ended December 31, 2016, net revenue at City of Dreams Manila was US$144.7 million compared to US$80.9 million in the fourth quarter of 2015. City of Dreams Manila generated Adjusted EBITDA of US$50.2 million in the fourth quarter of 2016 compared to US$15.5 million in the comparable period of 2015. The year-on-year improvement in Adjusted EBITDA was primarily a result of increased casino revenues. Rolling chip volume totaled US$2.1 billion for the fourth quarter of 2016 versus US$1.3 billion in the fourth quarter of 2015. The rolling chip win rate was 3.5% in the fourth quarter of 2016 versus 2.1% in the fourth quarter of 2015. The expected rolling chip win rate range is 2.7%-3.0%. Mass market table games drop increased to US$149.0 million for the fourth quarter of 2016, compared with US$106.3 million in the fourth quarter of 2015. The mass market table games hold percentage was 27.8% in the fourth quarter of 2016 compared to 27.5% in the fourth quarter of 2015. Gaming machine handle for the fourth quarter of 2016 was US$671.3 million, compared with US$420.9 million in the fourth quarter of 2015. The gaming machine win rate was 5.9% in the fourth quarter of 2016 versus 6.2% in the fourth quarter of 2015. Total non-gaming revenue at City of Dreams Manila in the fourth quarter of 2016 was US$28.1 million, compared with US$25.0 million in the fourth quarter of 2015. Total net non-operating expenses for the fourth quarter of 2016 were US$95.3 million, which mainly included interest expenses, net of capitalized interest, of US$56.2 million, loss on extinguishment of debt of US$17.4 million, other finance costs of US$13.3 million and costs associated with debt modification of US$8.1 million. We recorded US$7.7 million of capitalized interest during the fourth quarter of 2016, primarily relating to the development of Morpheus at City of Dreams. The year-on-year increase of US$35.4 million in net non-operating expenses was primarily a result of loss on extinguishment of debt arising from the refinancing of the Studio City project facility and lower capitalized interest in the current quarter. Depreciation and amortization costs of US$137.5 million were recorded in the fourth quarter of 2016, of which US$14.3 million was related to the amortization of our gaming subconcession and US$5.7 million was related to the amortization of land use rights. Total cash and bank balances as of December 31, 2016 totaled US$2.0 billion, including US$210.8 million of bank deposits with original maturities over three months and US$39.3 million of restricted cash, primarily related to Studio City. Total debt, net of unamortized deferred financing costs at the end of the fourth quarter of 2016 was US$3.7 billion. Capital expenditures for the fourth quarter of 2016 were US$78.9 million, which predominantly related to various projects at City of Dreams, including Morpheus. For the year ended December 31, 2016, Melco Crown Entertainment reported net revenue of US$4.5 billion versus US$4.0 billion in the prior year. The year-on-year increase in net revenue was primarily attributable to the net revenue generated by a fully-operating Studio City and the increase in casino revenues at City of Dreams Manila, partially offset by lower casino revenues at City of Dreams in Macau and Altira Macau. On a U.S. GAAP basis, operating income for 2016 was US$363.1 million, compared with operating income of US$98.4 million for 2015. Adjusted property EBITDA for the year ended December 31, 2016 was US$1,087.5 million, as compared with Adjusted property EBITDA of US$932.0 million in 2015. The 17% year-on-year improvement in Adjusted property EBITDA was mainly attributable to the contribution from a fully-operating Studio City and increase in casino revenues at City of Dreams Manila, partially offset by lower contribution from City of Dreams in Macau and Altira Macau. On a U.S. GAAP basis, net income attributable to Melco Crown Entertainment for 2016 was US$175.9 million, or US$0.35 per ADS, compared with a net income attributable to Melco Crown Entertainment of US$105.7 million, or US$0.20 per ADS, for 2015. The net loss attributable to noncontrolling interests for 2016 of US$109.0 million was related to Studio City and City of Dream Manila. Shareholders and potential investors in Melco Crown Entertainment are advised not to place undue reliance on the unaudited earnings and financial information of the Company for the fourth quarter and year ended December 31, 2016. Shareholders and potential investors of the Company are advised to exercise caution in dealing in the securities of the Company. On February 16, 2017, our Board considered and approved the declaration and payment of a quarterly dividend of US$0.03 per share (equivalent to US$0.09 per ADS) for the fourth quarter of 2016 (the “Quarterly Dividend”). The Quarterly Dividend will be paid on or about Wednesday, March 15, 2017 to our shareholders whose names appear on the register of members of the Company at the close of business on Monday, February 27, 2017, being the record date for determination of entitlements to the Quarterly Dividend. Melco Crown Entertainment will hold a conference call to discuss its fourth quarter 2016 financial results on Thursday, February 16, 2017 at 8:30 a.m. Eastern Time (9:30 p.m. Hong Kong Time). To join the conference call, please use the dial-in details below: An audio webcast will also be available at http://www.melco-crown.com. To access the replay, please use the dial-in details below: 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 markets and visitations 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. (1) "Adjusted EBITDA" is earnings before interest, taxes, depreciation, amortization, pre-opening costs, development costs, property charges and others, share-based compensation, payments to the Philippine parties under the cooperative arrangement (the “Philippine Parties”), land rent to Belle Corporation, net gain on disposal of property and equipment to Belle Corporation and other non-operating income and expenses. "Adjusted property EBITDA" is earnings before interest, taxes, depreciation, amortization, pre-opening costs, development costs, property charges and others, share-based compensation, payments to the Philippine Parties, land rent to Belle Corporation, net gain on disposal of property and equipment to Belle Corporation, Corporate and Others expenses and other non-operating income and expenses. Adjusted EBITDA and adjusted property EBITDA are presented exclusively as supplemental disclosures because management believes they are widely used to measure the performance, and as a basis for valuation, of gaming companies. Management uses adjusted EBITDA and adjusted property EBITDA as measures of the operating performance of its segments and to compare the operating performance of its properties with those of its competitors. The Company also presents adjusted EBITDA and adjusted property EBITDA because they are used by some investors as ways to measure a company's ability to incur and service debt, make capital expenditures, and meet working capital requirements. Gaming companies have historically reported adjusted EBITDA and adjusted property EBITDA as supplements to financial measures in accordance with U.S. GAAP. However, adjusted EBITDA and adjusted property EBITDA should not be considered as alternatives to operating income as indicators of the Company's performance, as alternatives to cash flows from operating activities as measures of liquidity, or as alternatives to any other measure determined in accordance with U.S. GAAP. Unlike net income, adjusted EBITDA and adjusted property EBITDA do not include depreciation and amortization or interest expense and, therefore, do not reflect current or future capital expenditures or the cost of capital. The Company compensates for these limitations by using adjusted EBITDA and adjusted property EBITDA as only two of several comparative tools, together with U.S. GAAP measurements, to assist in the evaluation of operating performance. Such U.S. GAAP measurements include operating income, net income, cash flows from operations and cash flow data. The Company has significant uses of cash flows, including capital expenditures, interest payments, debt principal repayments, taxes and other recurring and nonrecurring charges, which are not reflected in adjusted EBITDA or adjusted property EBITDA. Also, the Company's calculation of adjusted EBITDA and adjusted property EBITDA may be different from the calculation methods used by other companies and, therefore, comparability may be limited. Reconciliations of adjusted EBITDA and adjusted property EBITDA with the most comparable financial measures calculated and presented in accordance with U.S. GAAP are provided herein immediately following the financial statements included in this press release. (2) “Adjusted net  income” is net income before net gain on disposal of property and equipment to Belle Corporation, pre-opening costs,  development costs, property charges and others, loss on extinguishment of debt and costs associated with debt modification, net of noncontrolling interests and taxes calculated using specific tax treatments applicable to the adjustments based on their respective jurisdictions. Adjusted net income attributable to Melco Crown Entertainment and adjusted net income attributable to Melco Crown Entertainment per share (“EPS”) are presented as supplemental disclosures because management believes they are widely used to measure the performance, and as a basis for valuation, of gaming companies. These measures are used by management and/or evaluated by some investors, in addition to income and EPS computed in accordance with U.S. GAAP, as an additional basis for assessing period-to-period results of our business. Adjusted net income attributable to Melco Crown Entertainment and adjusted net income attributable to Melco Crown Entertainment per share may be different from the calculation methods used by other companies and, therefore, comparability may be limited. Reconciliations of adjusted net income attributable to Melco Crown Entertainment with the most comparable financial measures calculated and presented in accordance with U.S. GAAP are provided herein immediately following the financial statements included in this press release. 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 International Development Limited, a company listed 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.


News Article | February 16, 2017
Site: globenewswire.com

HONG KONG, Feb. 16, 2017 (GLOBE NEWSWIRE) -- Melco International Development Limited (“Melco” or the “Group”) (HKEx Code:200), a world leader in the leisure and entertainment sector, today announced that it has completed the purchase of additional interest in, thereby assumed majority ownership of, Melco Crown Entertainment (“MCE”) (Nasdaq:MPEL). The Group now holds approximately 51.3% stake in MCE versus approximately 37.9% before. The financial results of MCE will continue to be consolidated in the financial statements of the Company. The aggregate purchase price for 198,000,000 ordinary shares, equivalent to 66,000,000 American depositary shares (“ADS”s), of MCE was US$1,100,800,800. Melco immediately paid a deposit of US$100,000,000 upon signing the acquisition agreement. To support the purchase, Melco obtained a credit facility of up to US$1,000,000,000, comprising a US$700,000,000 term loan facility for this purpose and a US$300,000,000 revolving credit facility, from Industrial and Commercial Bank of China (Macau) Limited (“ICBC Macau”) and Industrial and Commercial Bank of China (Asia) Limited (“ICBC (Asia)”). The remaining amount of the closing payment was settled using the Group’s internal resources. Mr. Lawrence Ho, Group Chairman and CEO of Melco, said, “I am thrilled to announce today that Melco has assumed majority ownership of MCE. It is certainly another tremendous milestone for the Company. I would like to thank ICBC Macau and ICBC (Asia) for supporting and trusting us and facilitating the closing of the deal. The acquisition signifies my faith in Macau’s long term prospects and the strength and quality of MCE. The deal will enable both Melco and MCE to more effectively capture growth opportunities in Macau, Asia and around the world. This is also an important step forward to realizing our vision of becoming a global leader in leisure and entertainment.” Mr. Zhu Xiaoping, Chairman of ICBC (Macau) Limited, said, “Melco has proved to be a dynamic and innovative new force in the industry and its vision is to expand its business around the world. ICBC Macau is delighted to support Melco on expanding its business.  We are very happy to be a part of the Melco story, which is rather impressive, and are looking forward to seeing Melco achieve new heights with its business in the future.” About Melco International Development Limited Founded in 1910 and listed on the Hong Kong Stock Exchange since 1927, Melco International Development Limited (“Melco”) (HKEx Code:200) was among the first one hundred companies established in Hong Kong. Today, under the leadership of its Chairman and Chief Executive Officer, Mr. Lawrence Ho, Melco has become a world leader in the leisure and entertainment sector with operations in China, Philippines and Russia. Its promising performance and distinctive leadership in the industry are also well recognized worldwide. Since February 2017, Melco has held a majority stake in Melco Crown Entertainment (NASDAQ ticker symbol “MPEL”), a leading developer, owner and operator of casino gaming and entertainment casino resort facilities in Asia. The recent acquisition further bolsters the Group’s financial position and enables its growth opportunities in Macau, Asia and around the world. Through different companies, the Group is also actively pursuing expansion opportunities in Spain and Cyprus. As a dynamic enterprise, Melco has garnered numerous accolades for excellence in corporate governance and contribution to CSR. Melco has been honoured with the “Corporate Governance Asia Annual Recognition Award” by Corporate Governance Asia magazine for the eleventh year in 2016. It is also the first entertainment company to receive the “Hong Kong Corporate Governance Excellence Awards” by the Chamber of Hong Kong Listed Companies and the Centre for Corporate Governance and Financial Policy of the Hong Kong Baptist University. For more information about Melco, please visit www.melco-group.com.


HOUSTON--(BUSINESS WIRE)--Industry Executives will discuss strategies to deliver Value, Efficiency & Flexibility in a cost challenged Deepwater market, April 3-5, 2017, during the 14th annual Deepwater symposium, MCE Deepwater Development 2017 (MCEDD) held at the NH Grand Hotel Krasnapolsky in Amsterdam. Interactive Special Sessions focused on "Leveraging Best Practices", "Industry Collaboration" and "Novel Contracting Approaches" compliment a strong, competitively selected 3-day technical program. For more details please visit www.MCEDD.com or call Quest Offshore Resources, Inc. at +1 (281) 491-5900.


DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Pharmaceutical Membrane Filtration Market by Product (MCE, Coated Cellulose Acetate, Nylon, PVDF Membrane), Technique (Microfiltration, Ultra Filtration, Nanofiltration), Application (Final Product, Raw Material) - Global Forecast to 2021" report to their offering. The global membrane filtration market for pharmaceutical is expected to reach USD 6.20 Billion by 2021 from USD 3.55 Billion in 2016, at a CAGR of 11.8% during the forecast period. Growth in the biopharmaceutical industry and advancements in the nanofiltration technology are the key factors driving the growth of the market. The global membrane filtration market for pharmaceutical has been segmented on the basis of product, technique, application, and region. On the basis of product, the global market is segmented into MCE membrane filters, coated cellulose acetate membrane filters, nylon membrane filters, PTFE membrane filters, PVDF membrane filters, and other membrane filters. The MCE membrane filters segment is expected to be the largest and fastest-growing segment of the global market in 2016. On the basis of application, the market is segmented into final product processing, raw material filtration, air purification, cell separation, and water purification. The final product processing segment is projected to grow at the highest CAGR during the forecast period. Rapid growth in the biopharmaceutical industry, expansion in generic production, increasing demand for nanofiber technology, and the rising prevalence of airborne diseases are the major factors driving the growth of this segment. On the basis of technique, the market segmented into microfiltration, crossfiltration, ultrafiltration, nanofiltration, ion exchange, and reverse osmosis. The microfiltration segment is expected to witness the highest CAGR during the forecast period. The high adoption of microfiltration over other techniques in pharmaceutical applications accounts for the large share of this segment. North America is expected to dominate the global membrane filtration market for pharmaceutical in 2016, owing to the increasing growth in the biopharmaceutical industry in North America. However, the Asia region is expected to witness the highest CAGR during the forecast period. The increasing incidence of airborne diseases, growing R&D spending by developed countries, and rapid expansion in generic drug production are the major drivers for the growth of the Asian market. For more information about this report visit http://www.researchandmarkets.com/research/gdvf9s/pharmaceutical

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