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For more information about Melco Crown Entertainment, please visit www. Philippine Economic Zone Authority. The Philippine Parties have significant development, tourism, gaming and leisure experience and this together with their local knowledge will benefit the Company and its shareholders in this exciting new business venture. 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. For media enquiry, please contact:. SMIC is engaged in five core businesses through its subsidiaries, namely, shopping mall development, retail merchandising, financial services, real estate development and tourism, and hotels and conventions. MPEL Projects or an affiliated party will operate the gaming and non gaming operations as lessee. The Parties agreed that the MOA is binding on them and that they will negotiate in good faith with a view to the execution of the Consortium Agreement conditional upon registration of the Project Site as a tourism economic zone by PEZA. Further details of the Consortium Agreement will be disclosed in an announcement in due course. Purpose of the MOA. Email: rossdunwoody melco-crown. Investment Community, please contact:. The Company is also developing the planned Studio City Project, a large integrated entertainment, retail and gaming resort in Cotai, Macau. Material Representations and Warranties of the Philippine Parties. PremiumLeisure and Amusement, Inc. The Directors believe that the terms of the Transaction are fair and reasonable and in the interests of shareholders as a whole. Termination of the MOA. Belle is a property developer listed on the Philippine Stock Exchange. Crown is a top company listed on the Australian Securities Exchange and led by executive chairman Mr. The Philippine Amusement and Gaming Corporation.

Exhibit Retail and Entertainment Complex in the Philippines. While South Koreans and Americans are the largest tourist groups, China continues to contribute a greater share of visitors to the Philippines. The Company considers its experience in developing world-class integrated resorts such as the City of Dreams in Macau will allow it to take advantage of the anticipated growth in the crown casino tagaytay and tourism industries in the Philippines, which will cater to an increasingly affluent and growing Asian middle class who continue to seeking new travel destinations and experiences.

Governing Law. This announcement contains forward-looking statements. Private Securities Litigation Reform Act of The Company may also make written or oral forward-looking statements in its periodic reports to the U.

Inthe Philippines Department of Tourism recorded 3. Melco Crown Entertainment currently operates Altira Macau www. 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.

Email: maggiema melco-crown. The MOA crown casino tagaytay legally binding. Maggie Ma. Diokno Boulevard, Pasay City.

Vice President, Investor Relations. The Philippines is a popular tourist destination in Southeast Asia and is closely located to a range of important tourism markets, including South Korea, Taiwan, Japan and China. Ross Dunwoody. Head of Corporate Communications. The success of Macau as a gaming and entertainment destination has led to the proliferation of gaming across the Asia Pacific region, driving the development of casino, hotel, entertainment and retail resorts, as recently illustrated in Singapore. The Consortium Agreement, upon signing, will be the main framework agreement between the Consortium to carry out the Project.