Collaboration brings a 'one-of-a-kind' retail
entertainment experience to Macau, diversifying the city's tourism
and economy – a catalyst in helping establish Macau as a
world-class tourism and leisure hub
Melco Crown Entertainment (SEHK:6883) (Nasdaq:MPEL) and Taubman
Asia, a subsidiary of U.S. mall REIT, Taubman Centers, Inc.
(NYSE:TCO), today unveiled plans to deliver a unique,
entertainment-centered shopping experience at the
highly-anticipated entertainment, retail and gaming resort, Studio
City.
Envisioned by Mr. Lawrence Ho, Studio City is a thrilling new
cinematically-themed entertainment and leisure destination in Macau
that is set to become Asia's Entertainment Capital, and to take
Macau's entertainment destination proposition to unprecedented new
levels. Taubman Asia is providing merchandising, marketing and
management services for its retail project.
The Boulevard at Studio City, a unique, 300,000 sq. ft.
'immersive' retail entertainment environment, will bring the
world's best shopping to life in Macau by transporting guests to
high-energy street-scapes, entertaining them at every turn with
featured streets and squares inspired by iconic shopping and
entertainment locations, including New York's Times Square and
Hollywood's Beverly Hills. Scheduled to open in the third quarter
of 2015, coinciding with the opening of the Studio City integrated
resort, The Boulevard at Studio City will delight visitors with an
exciting and refined retail experience during their visit to the
city.
"Taubman Asia is in the business of creating world-class
experiences for our customers," said Mr. René Tremblay, President
of Taubman Asia. "Along with Melco Crown Entertainment, we are
developing a one-of-a-kind retail entertainment experience that
will cater to the discerning tastes of Greater China's
consumers."
"We are pleased to be working on The Boulevard project, which is
poised to be one of the most exciting shopping destinations in
Macau," said Mr. Robert S. Taubman, Chairman, President and CEO of
Taubman Centers, based in the U.S. "We look forward to a long and
fruitful relationship with Melco Crown Entertainment."
In collaboration with Taubman Asia, The Boulevard at Studio City
represents yet another example of the leadership role that Melco
Crown Entertainment has taken in supporting the Central and Macau
Governments' vision for greater economic diversification and a more
multi-faceted tourism experience, offering visitors to Macau an
exclusive luxury experience, with eclectic food and beverage and
entertainment offerings.
Mr. Lawrence Ho, Co-Chairman and CEO of Melco Crown
Entertainment said: "Studio City is an entertainment-inspired
leisure destination that will fulfil Melco Crown Entertainment's
aims to be a strategic catalyst in furthering Macau's economic
diversification.
"With the combination of Melco Crown Entertainment's expertise
in developing world-class integrated entertainment resorts and
Taubman Asia's deep experience in the global retail industry, I am
confident that The Boulevard at Studio City will deliver an
exciting and dynamic shopping environment that will delight
customers and bring a further, new and unique, non-gaming
attraction to Macau."
As a retail specialist, Taubman Asia has conducted detailed
research of the Macau landscape in order to develop a strategic and
focused approach which brings together the right mix of
fashion-forward brands to deliver an unmatched
retail experience for customers.
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 Studio City
Studio City, when it opens in the third quarter of 2015, is set
to take Macau's entertainment destination proposition to
unprecedented new levels, by providing a 'next generation' of
outstanding entertainment-driven leisure destination experiences
that will help the territory's evolution into a truly international
tourism center.
The Hollywood-themed studio-concept resort is a thrilling new
cinematic inspired entertainment and leisure destination and is
designed to be the most diversified entertainment offering in
Macau. Ideally located on Cotai, close to the Lotus Bridge
immigration point connecting Hengqin Island and a future
station-point for the Macau Light Rapid Transit (LTR), Studio City
will deliver more world-class entertainment amenities than any
integrated resort in the market.
Studio City's stunning Art-Deco facade includes an iconic
"Golden Eye" gondola ride which straddles the resort's two-tower
hotel at a height of some 130 meters. The integrated resort will
provide the ultimate in sophisticated leisure entertainment, hotel,
retail, dining and lifestyle experiences.
The resort's innovative entertainment offerings include "Studio
City Event Center", a 5,000-seat multi-purpose entertainment center
designed to host live concerts, theatrical and sporting events; and
"Studio 8", a 300-seat live-audience TV broadcast studio for
reality and game-show productions distributed in the Asia region.
The entertainment experiences also include a magic theatre "The
House of Magic" and a Warner Bros. Batman-themed motion ride
"Batman Dark Flight", a 36,000 sq. ft. family entertainment center
"Warner Bros. Fun Zone" for kids filled with Warner Bros.' and DC
Comics' franchise characters and play-rides, together with "Pacha
Macau" which will bring Ibiza-style nightlife to Macau.
Studio City is destined to deliver an unparalleled leisure
entertainment and hospitality experience, strengthening the depth
and diversity of Macau's leisure, business and tourism proposition
as a leading visitor destination in Asia.
About Taubman
Taubman Centers, Inc. (NYSE:TCO) is an S&P MidCap 400 Real
Estate Investment Trust. Taubman is engaged in the ownership,
management and/or leasing of 21 regional, super-regional and outlet
shopping centers in the U.S. and Asia. Taubman's U.S.-owned
properties are the most productive in the publicly held U.S.
regional mall industry. Taubman is currently developing Taubman
Prestige Outlets Chesterfield in Chesterfield, Missouri; The Mall
at University Town Center in Sarasota, Florida; The Mall of San
Juan in San Juan, Puerto Rico; and shopping malls in Xi'an and
Zhengzhou, China and Hanam, Greater Seoul, South Korea. Taubman
Centers is headquartered in Bloomfield Hills, Michigan and Taubman
Asia, the platform for Taubman Centers' expansion into China and
South Korea, is headquartered in Hong Kong. Founded in 1950,
Taubman has over 60 years of experience in the shopping center
industry. For more information about Taubman, visit
www.taubman.com.
About Taubman Asia
Taubman Asia is a subsidiary of U.S. Mall operator Taubman
Centers - a leader in the shopping center industry. Taubman Asia is
the platform for Taubman Centers' expansion into China and South
Korea and focuses on owning, managing, and/or leasing high-quality
and sustainable retail real estate projects in Asia that leverage
Taubman's strong retail planning design and operational
capabilities. For more information about Taubman Asia, visit
www.taubmanasia.com.
For ease of use, references in this press release to "Taubman
Centers," "company," "Taubman" or an operating platform mean
Taubman Centers, Inc. and/or one or more of a number of separate,
affiliated entities. Business is actually conducted by an
affiliated entity rather than Taubman Centers, Inc. itself or the
named operating platform.
This press release may contain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These statements reflect management's current views with
respect to future events and financial performance. The
forward-looking statements included in this release are made as of
the date hereof. Except as required by law, we assume no obligation
to update these forward-looking statements, even if new information
becomes available in the future. Actual results may differ
materially from those expected because of various risks and
uncertainties. You should review the company's filings with the
Securities and Exchange Commission, including "Risk Factors" in its
most recent Annual Report on Form 10-K and subsequent quarterly
reports, for a discussion of such risks and uncertainties.
For Melco Crown
Entertainment:
Investment Community, please contact: Ross
Dunwoody Vice President, Investor Relations Tel: +853 8868 7575 or
+852 2598 3689 Email: rossdunwoody@melco-crown.com
For media enquiry, please contact: Maggie Ma
Head of Corporate Communications Tel: +853 8868 3767 or +852 3151
3767 Email: maggiema@melco-crown.com
For Taubman Asia:
For media enquiry, please contact: Danny Cowan
Edelman Hong Kong + 852 2837 4797 danny.cowan@edelman.com
Amanda Cheung Edelman Hong Kong +852 2837 4745
amanda.cheung@edelman.com
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