Melco and New Silkroad Enters into Strategic Cooperation Arrangement on the Provision of Consultancy Services
(Thomson Reuters ONE) -
Tapping Melco's Expertise for New Silkroad's Casino on Jeju Island, South Korea
HONG KONG, May 10, 2016 (GLOBE NEWSWIRE) -- Melco International Development
Limited("Melco") (HKEx Code:200), a world leader in the leisure and
entertainment sector, and New Silkroad Culturaltainment Limited ("New Silkroad")
(HKEx Code:472) today announced that Melco Gaming Assets Management (Korea)
Limited, a wholly-owned subsidiary of Melco, has entered into a strategic
cooperation arrangement with New Silkroad Korea Development Limited, a wholly-
owned subsidiary of New Silkroad on the provision of consultancy services for
its casino project on Jeju Island, South Korea.
A photo accompanying this announcement is available
at http://www.globenewswire.com/NewsRoom/AttachmentNg/efa10824-c659-49c0-802e-
cdc6991af468
Pursuant to the cooperation arrangement, Melco is to provide consultancy
services to New Silkroad with regard to building, equipping and fitting-out of
New Silkroad's new casino on Jeju Island, as well as preparation and
organization of the casino's marketing activities. The services also include the
provision of intellectual property and know-how.
Mr. SU Bo, Chairman and Executive Director of New Silkroad, said, "The strategic
partnership with Melco will enable New Silkroad to benefit from the extensive
experience and expertise of the respected international gaming brand, through
its participation in the design and early-stage development of our mega-casino.
We expect the casino to be a true world-class player with the highest standards
in operations and internal controls, enabling us to grow and enhance our core
competitiveness while we diversify our business into overseas tourism real
estate industry, thereby broadening our income sources and creating value to our
shareholders. We look forward to a long term partnership with Melco as we grow
into a larger and more sustainable company."
Mr. Clarence Chung, Executive Director of Melco, said, "We are delighted for
Melco to participate in this exciting project in South Korea with New Silkroad.
Leveraging our strong experience and proven track record of creating and
operating world-class integrated entertainment and leisure resorts across
different geographies such as Macau, Manila and Russia, Melco can bring
professional concepts and practices to New Silkroad's project and enhance Jeju's
tourism appeal on a global stage."
New Silkroad has officially entered South Korea's gaming and entertainment
business through the acquisition of Development Golden Beach Co., Ltd. ("Golden
Beach") last December. Upon completion of the latest acquisition, New Silkroad
will hold a 72% equity stake in Golden Beach, which was awarded the Gaming
Licence No. 8, one of the eight gaming licences on Jeju Island and operates a
casino there. With the string of world-class integrated resorts opening on Jeju
Island, coupled with the South Korean government's vigorous promotion efforts,
Jeju's tourism industry, along with the island's casino market is expected to
undergo rapid growth. New Silkroad is looking to expand the casino business with
the purpose to capture the growing gaming market and booming tourism industry on
Jeju Island. The move is also in line with the strategy of its substantial
shareholder Macrolink Real Estate Co., Ltd. to expand the tourism real estate
businesses.
About Melco International Development Limited
Founded in 1910 and listed on the Hong Kong Stock Exchange since 1927, Melco
International Development Limited ("Melco") (HKEx Code:200) was among the first
one hundred companies established in Hong Kong. Today, under the leadership of
its Chairman and Chief Executive Officer, Mr. Lawrence Ho, Melco has become a
world leader in the leisure and entertainment sector with operations in China,
Philippines, Cambodia, and Russia. Its promising performance and distinctive
leadership in the industry are also well recognized worldwide. In May 2016,
Melco became the single largest shareholder of Melco Crown Entertainment, a
leading developer, owner and operator of casino gaming and entertainment casino
resort facilities in Asia, further bolstering the Group's financial position
through incorporation of the accounting subsidiary's full financial
contributions. Melco has been honoured with the "Corporate Governance Asia
Annual Recognition Award" by Corporate Governance Asia magazine for ten
consecutive years since 2006. It is also the first entertainment company to
receive the "Hong Kong Corporate Governance Excellence Awards" by the Chamber of
Hong Kong Listed Companies and the Centre for Corporate Governance and Financial
Policy of the Hong Kong Baptist University. For more information about Melco,
please visit www.melco-group.com.
About New Silkroad Culturaltainment Limited
New Silkroad Culturaltainment Limited (formerly known as JLF Investment Company
Limited) ("New Silkroad") (HKEx Code:472) is an investment holding company. Its
subsidiaries mainly focus on the production and sale of wine and baijiu under
its own brands in China, development and operation of overseas real estate,
cultural tourism and gaming businesses. Macrolink Real Estate Co. Ltd.
("Macrolink Real Estate") (SZSE Code:000620) through its wholly-owned
subsidiary, Macro-Link International Land Limited is the substantial shareholder
of New Silkroad. Macrolink Real Estate is a property developer controlled by
Macro-Link Holding Company Limited (on the list of China's Top 500 Companies)
and has developed over 30 large scale integrated real estate projects since
1992. For more information, please visit the corporate website of New Silkroad
at http://www.newsilkroad472.com and Macrolink Real Estate
at http://www.xhlbdc.com.
The photo is also available at Newscom, www.newscom.com, and via AP
PhotoExpress.
Media Enquiries
Melco International Development Limited
Maggie Ma
Senior Vice President, Corporate Communications and Public Relations
Tel: (852) 3151 3767
Email: maggiema(at)melco-group.com
Strategic Financial Relations Limited (for Melco)
Mandy Go Angela Ng
Tel: (852) 2864 4812 Tel: (852) 2864 4855
Email: mandy.go(at)sprg.com.hk Email: angela.ng(at)sprg.com.hk
Hill+Knowlton Strategies (for New Silkroad)
Benny Liu Ka Wai Li
Tel: (852) 2894 6315 / 9387 6545 Tel: (852) 2894 6252 / 9011 0296
Email: benny.liu(at)hkstrategies.com Email: kawai.li(at)hkstrategies.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Melco International Development Limited via GlobeNewswire
[HUG#2011188]
Unternehmensinformation / Kurzprofil:
Datum: 10.05.2016 - 13:00 Uhr
Sprache: Deutsch
News-ID 469961
Anzahl Zeichen: 7818
contact information:
Town:
Hong Kong
Kategorie:
Business News
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"Melco and New Silkroad Enters into Strategic Cooperation Arrangement on the Provision of Consultancy Services"
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