MANILA, Philippines, March 26, 2013 (GLOBE NEWSWIRE) -- Melco Crown Entertainment Limited ("Melco Crown Entertainment" or the "Company") (SEHK:6883) (Nasdaq:MPEL), a developer and owner of casino gaming and entertainment resort facilities in Asia, today announced the appointment of industry veteran Dato' Kevin Sim as the Chief Operating Officer of its subsidiary, Melco Crown (Philippines) Resorts Corporation ("Melco Crown Philippines"), a company listed on the Philippine Stock Exchange. Dato' Sim will oversee the operations of the Company's integrated resort development in Entertainment City, Manila.
Dato' Sim will join Melco Crown Philippines on April 29, 2013, following his departure from Genting Malaysia Berhad where he serves as the Executive Vice President for Genting Highlands Resort, in charge of all aspects of operations including the Casino, Hotels and various other operating divisions. Prior to this role, he was Senior Vice President of Casino Operations, Vice President of Slots, and Vice President of Finance. Dato' Sim was also instrumental in starting the Business Intelligence Unit where data mining is used extensively to drive various Customer Relationship Management initiatives of Genting.
Mr. Lawrence Ho, Co-Chairman and Chief Executive Officer of Melco Crown Entertainment, commented, "Our integrated resort development in Manila marks the Company's first development opportunity outside of Macau, and we look forward to delivering not only a world-class gaming experience to the Philippines, but also bringing our unique brand of leisure and entertainment to a new and exciting market.
"As the only operator in Manila with exposure to Macau, we have a unique and significant competitive advantage as it relates to access to potential Chinese and broader Asian customers via our extensive database. Dato' Sim's experience and passion in driving success through business intelligence and customer relationship management will be instrumental in customer acquisition and profitability management. I am confident that Dato' Sim's extensive experience and familiarization with the Asian gaming market, including his vast experience in data-based strategy and analytics, will be an integral part of the success of our project in Manila."
Prior to working at Genting Malaysia Berhad, Dato' Sim was the Vice President of Finance for Naga Resorts, a casino operator in Cambodia. Dato' Sim is a qualified Chartered Accountant and a Member of the Institute of Chartered Accounts in England and Wales (ICAEW). He graduated from the University of London with BSc(Hons) Mathematics and began his career as an auditor with various Chartered Accountant firms in England and later with Coopers & Lybrand in Malaysia.
Melco Crown Entertainment is currently developing an integrated resort in Entertainment City, Manila which, upon completion by mid-2014, will include mass market and VIP gaming facilities, five-star luxury hotels and specialty restaurants and bars. The resort will also include other notable amenities including Manila's first branded Family Entertainment Center, a live performance central lounge inside the casino and a night club in the Fortune Egg, an architecturally-unique attraction which is expected to become an iconic landmark in the Manila Bay area.
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. 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, (ii) capital and credit market volatility, (iii) local and global economic conditions, (iv) our anticipated growth strategies, and (v) 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 announcement 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 shares listed on the Main Board of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange") (SEHK:6883) and its American depositary shares listed on the NASDAQ Global Select Market (Nasdaq:MPEL), 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 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 Project, a cinematically-themed integrated entertainment, retail and gaming resort in Cotai, Macau. In the Philippines, MCE Leisure (Philippines) Corporation, a subsidiary of Melco Crown Entertainment, has been cooperating with SM Group's Belle Corporation to develop and operate 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 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, an Executive Director and the CEO of Melco Crown Entertainment. Crown is a top-50 company listed on the Australian Securities Exchange and led by Executive Chairman Mr. James Packer, who is also Co-Chairman and a Non-executive Director of Melco Crown Entertainment.
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Source:Melco Crown Entertainment Limited