Hong Kong, Macau and New York (February 27, 2012) /GLOBE NEWSWIRE/ — Melco Crown Entertainment Limited, a developer and owner of casino gaming and entertainment resort facilities focused on the Macau market, today announces the implementation of a new, streamlined management structure aimed at enhancing organizational efficiency, as well as improving the integration of gaming and non-gaming operations.
To implement their new management structure, Mr. Ying Tat Chan, currently the Co-Chief Operating Officer, Gaming, has been appointed as the Company’s sole Chief Operating Officer, overseeing both gaming and non-gaming activities across City of Dreams, Altira Macau, and Mocha Clubs, with effect from February 27, 2012. Following Mr. Chan’s appointment as sole Chief Operating Officer, the position of Co-Chief Operating Officer, Operations has been eliminated. Mr. Nicholas C Naples, the previous Co-Chief Operating Officer, Operations, has departed from the Company on February 27, 2012 upon mutual agreement.
Mr. Lawrence Ho, Co-Chairman and Chief Executive Officer of Melco Crown Entertainment, said, “We are encouraged in our belief that the new management structure will make us a more agile company, better positioned to move quickly in a dynamic market.
“I am confident that Mr. Chan’s breadth and depth of knowledge and experience in Macau make him uniquely qualified to be our COO, and I believe that he and his team will build on the successes of the last 18 months.
“Our new structure is targeted to unlock additional synergies between our gaming and non-gaming operations and to facilitate the delivery of our comprehensive, world-class customer service as efficiently as possible, ultimately for the benefit of the Company, our staff members, and our shareholders.
“We thank Mr. Naples for his efforts and commitments to the Company and wish him well in his future endeavors.”
ABOUT MELCO CROWN ENTERTAINMENT LIMITED
Melco Crown Entertainment Limited (“Melco Crown Entertainment”), listed on the Main Board of The Stock Exchange of Hong Kong Limited Macau subsidiary which holds a gaming sub-concession, an operator of casino gaming and entertainment casino resort facilities focused on the Macau market. Melco Crown Entertainment currently operates Altira Macau (www.altiramacau.com) (formerly Crown Macau), 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 feature a total of approximately 2,100 gaming machines in ten locations and comprise the largest non-casino based operations of electronic gaming machines in Macau. The Company is also developing the planned Studio City Project, a large integrated entertainment, retail and gaming resort in Cotai, Macau. For more information about Melco Crown Entertainment, please visit www.melco-crown.com.