Melco PBL Entertainment reports name change
27 May 2008
NEW YORK -- (PRESS RELEASE) -- Melco PBL Entertainment (Macau) Limited (NasdaqGM:MPEL - News), a developer and owner of casino gaming and entertainment resort facilities, announced today that its shareholders passed a resolution at its Annual General Meeting to change the name of the company to Melco Crown Entertainment Limited (``MPEL'), effective immediately. The company's ticker symbol, MPEL, remains unchanged.
The name change reflects a previously announced change in the ownership structure of one of its founding shareholders. On December 12, 2007, Publishing and Broadcasting Limited (now known as Consolidated Media Holdings Limited) (``PBL') completed a demerger of its gaming and media businesses into two separate companies, both listed on the Australian Stock Exchange. The demerger was achieved by two concurrent shareholder-approved and court-approved Schemes of Arrangement under Australian Corporations Law.
As a result of the demerger, Crown Limited (``Crown') became the owner of the gaming assets of PBL including PBL's shares in MPEL.
Crown is a top-50 company listed on the Australian Stock Exchange and led by Executive Chairman James Packer, who is also a Co-Chairman of MPEL.