Grand Opening of City of Dreams Manila

Bringing World-Class Entertainment-inspired Leisure-Destination Experiences to Manila for the First Time

MANILA, Philippines, January 26, 2015 /PRNewswire/ — Integrated casino resort developer Melco Crown (Philippines) Resorts Corporation ("Melco Crown Philippines" or the "Company"), a company with its shares listed on the Philippine Stock Exchange ("PSE") with trading symbol "MCP" and a subsidiary of Melco Crown Entertainment Limited (SEHK: 6883) (NASDAQ: MPEL) which is a developer and owner of casino gaming and entertainment resort facilities in Asia, today announced that the official Grand Launch of its new integrated casino resort, City of Dreams Manila, will take place on Monday February 2, 2015.

Located at the gateway to Entertainment City, City of Dreams Manila is poised to become the premier leisure and entertainment destination in the Philippines and within the region. The resort combines electrifying entertainment, an amazing array of accommodation, regional and international culinary offerings, together with designer brand shopping as well as a spacious and contemporary casino.

More than 600,000 visitors have had a first experience of the stunning new resort, during its ‘Sneak Preview’ period, with some 20,000 people visiting on its first day after doors opened to the public on December 14 last year.

The Grand Launch will be officiated by the visionaries behind the City of Dreams brand — Co-Chairman & CEO, Mr. Lawrence Ho and Co-Chairman, Mr. James Packer, accompanied by the Chairman and President of Melco Crown Philippines, Mr. Clarence Chung.

City of Dreams Manila has captured the imagination of the Hollywood elite. The property features in a new promotional trailer, specially commissioned by Melco Crown Entertainment, starring Robert De Niro, Martin Scorsese and Leonardo DiCaprio.

The TV commercial was directed by Academy Award winner, Martin Scorsese and was produced by the internationally renowned RatPac Entertainment producer and director, Brett Ratner.

Celebrations will begin by warming up the crowd with a thrilling ‘Concert of Dreams’, including headline act, international R&B star Ne-Yo and Philippine entertainers including Gary Valenciano, Zsa Zsa Padilla, Kyla, and Jed Madela. The excitement builds with a VIP and celebrity Red Carpet entrance and a Gala dinner, culminating in a spectacular Opening Ceremony featuring a ‘Dreams-inspired’ pyrotechnics display which is set to light the skies of Manila Bay.

Chairman and President of Melco Crown Philippines, Mr. Clarence Chung said: "Our official Grand Launch finally delivers our stated commitment to bring Manila its first international integrated leisure destination offering. The new resort complex will deliver a diverse collection of contemporary leisure and lifestyle brands from all over the world, including Crown, Nobu, Hyatt and the Pangaea Group, who are behind the world’s most successful nightclubs and lounges.

"Together with the soon-to-be-announced opening of DreamWorks’ DreamPlay, which is an educational interactive playspace for families, an exceptional entertainment experience now awaits all types of travelers and visitors from around the region and the world."

City of Dreams Manila is set to help redefine the leisure destination landscape in Manila with its world-class, entertainment-inspired, leisure, business and tourism proposition, helping position the city as one of Asia’s leading visitor destinations. It will serve the large and rapidly growing demands of leisure and entertainment seekers in the Philippines and those visiting Manila from across Asia region and internationally.

‘Concert of Dreams’

City of Dreams Manila ‘Concert of Dreams’ tickets are available, free, through various promotions and contests.

To qualify for tickets at the Casino City of Dreams Manila patrons must visit on at least five individual days and earn at least fifty (50) Dream Points from gaming activities on each day. The offer ends on January 31, 2015. Tickets can be redeemed at various SM ticket outlets and at the Signature Club and Dream Rewards counters at City of Dreams Manila.

Concert tickets can also be won, daily, on the City of Dreams Facebook page: #cityofdreamsmanila and #concertofdreams.

Copyright 2015 Melco Crown (Philippines) Resorts Corporation. All rights reserved.

All information is subject to change without notice.

Safe Harbor Statement

This 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 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, 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 release 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 City of Dreams Manila

City of Dreams Manila opened its doors to the public in December 2014 and marked the formal entry of Melco Crown Entertainment into the fast-growing and dynamic tourism industry in the Philippines. The new integrated casino resort at Entertainment City, Manila Bay, Manila, is solely operated and managed by Melco Crown Philippines.

The dynamic and innovative resort complex, located on an approximately 6.2-hectare site at the gateway to Entertainment City, includes the ultimate in entertainment, hotel, retail and dining and lifestyle experiences with aggregated gaming space, including VIP and mass-market gaming facilities with up to approximately 380 gaming tables, 1,700 slot machines and 1,700 electronic table games.

The integrated resort features three distinctive entertainment venues, including Manila’s first branded Family Entertainment Center, a live performance central lounge inside the casino and a night club situated at the Fortune Egg, an architecturally-unique dome-like structure, which is accented with creative exterior lighting design. It is an iconic landmark of the Manila Bay area.

City of Dreams Manila is destined to deliver an unparalleled entertainment and hospitality experience to the Philippines and will ultimately play a key role in strengthening the depth and diversity of Manila’s leisure, business and tourism offering, enhancing its growing position as one of Asia’s premier leisure destinations. It has been developed to specifically meet the needs of the large, rapidly growing and increasingly diverse audience of leisure and entertainment seekers both in the Philippines and those visiting Manila from across the Asia region and around the world.

About Melco Crown (Philippines) Resorts Corporation

Melco Crown (Philippines) Resorts Corporation, with its shares listed on the Philippine Stock Exchange (PSE: MCP), is a subsidiary of Melco Crown Entertainment (SEHK: 6883; NASDAQ: MPEL). It has developed City of Dreams Manila, a casino, hotel, retail and entertainment integrated resort in Manila, which has six hotel towers, including the Crown Towers hotel, Nobu Hotel and Hyatt City of Dreams Manila, numerous specialty restaurants and bars, gaming facilities, a multi-level car park, as well as three separate entertainment venues. For more information about Melco Crown Philippines, please visit www.melco-crown-philippines.com.

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 operator of casino gaming and entertainment 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, 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 has strong support from both of its major shareholders, Melco International Development Limited ("Melco") and Crown Resorts 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 Chairman Mr. James Packer, who is also Co-Chairman and a Non-executive Director of Melco Crown Entertainment.

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