Melco Crown Philippines Announces "City of Dreams Manila" as the Official Brand of Its Integrated Resort in Manila

Melco Crown Philippines Announces "City of Dreams Manila" as the Official
Brand of Its Integrated Resort in Manila

      Together With a Meaningful Increase in Allowable Gaming Positions

City of Dreams Manila is Well Positioned to Capitalize on the Fast-Growing and
                 Dynamic Tourism Industry in the Philippines

MANILA, Philippines, Oct. 9, 2013 (GLOBE NEWSWIRE) -- Integrated casino resort
developer Melco Crown (Philippines) Resorts Corporation ("MCP" 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 (HKSE:6883) (Nasdaq:MPEL) which is a developer and owner
of casino gaming and entertainment resort facilities in Asia, today announced
that its new integrated casino resort at Entertainment City, Manila, will be
branded "City of Dreams Manila". Furthermore, following various amendments to
gaming regulations in the Philippines by PAGCOR, City of Dreams Manila has
been permitted to operate a substantially increased number of gaming tables
and electronic gaming machines upon opening.

                    City of Dreams Manila Brand Unveiling

In recognition of Melco Crown Entertainment's commitment to bringing the best
in entertainment and gaming to the Philippines, MCP's integrated casino resort
in Manila will be branded City of Dreams Manila, the namesake of Melco Crown
Entertainment's world-class flagship integrated resort in Macau, City of
Dreams. City of Dreams Manila, when it opens around the middle of 2014, will
mark the formal entry of Melco Crown Entertainment into the fast-growing and
dynamic tourism industry in the Philippines.

Melco Crown Entertainment has been a pioneer in the development of integrated
entertainment resorts in Asia. Its successful City of Dreams branded Macau
flagship integrated resort has been a major catalyst in helping the city
establish itself as one of the leading entertainment and tourism destinations
in Asia.

City of Dreams Macau is renowned for delivering world-class gaming and
entertainment offerings to the region, including the internationally acclaimed
and award winning The House of Dancing Water Show and Club Cubic, one of the
leading nightclubs in Macau. The outstanding performance of City of Dreams
Macau has been widely recognized, receiving numerous international awards
including the "Integrated Resort of the Year" by International Gaming Awards,
the "Best Leisure Development in China and Asia Pacific" by International
Property Awards, and the "Best Integrated Resort in Asia Pacific" by TTG Asia
Travel Awards.

The Naming Ceremony was officiated by the visionary 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 MCP, Mr. Clarence Chung and in
the presence of other guests of honor and media.

Mr. Clarence Chung, Chairman and President of Melco Crown Philippines said: "I
would like to express my sincerest gratitude to the Government of the Republic
of the Philippines and PAGCOR for their continuous support in helping us
realize this gaming, leisure and entertainment complex in Manila. The
development of City of Dreams Manila is progressing well and we firmly believe
it will play a key role in further enhancing the Philippines as a leading
leisure and tourism destination in the region. I would also like to express
our gratitude to Mr. Lawrence Ho, Mr. James Packer and our parent company
Melco Crown Entertainment for their on-going support in bringing this exciting
project to realization."

Mr. Lawrence Ho, Co-Chairman and Chief Executive Officer of Melco Crown
Entertainment said: "I am delighted to announce that we are bringing the
highly successful City of Dreams brand to the Philippines. City of Dreams
Manila will herald a new era of entertainment in Manila and will provide
visitors with an exceptional world-class gaming and entertainment experience,
delivering international standards of retail, food & beverage and hotel
amenities, together with diverse and innovative lifestyle and entertainment
offerings. I am confident that City of Dreams Manila will be the pride of the
leisure and entertainment industry here in the Philippines."

The Company is also pleased to announce that City of Dreams Manila will
include an approximately 260 room Crown Towers hotel, a luxurious, premium
hotel brand, adding to the brand's two current locations; Crown Towers hotel
at Crown Melbourne, Australia and the Forbes Five Star Crown Towers hotel at
City of Dreams Macau. The Crown Towers hotel at City of Dreams Manila will
cater to the high end VIP and premium mass market segments in Manila,
leveraging the experience that Melco Crown Entertainment has built up in these
key segments, notably through its vast operations in Macau.

Mr. James Packer, Co-Chairman of Melco Crown Entertainment said: "The addition
of the Crown Towers hotel brand in Manila is another example of Crown's strong
relationship with Melco Crown Entertainment and recognition of the unique
opportunity City of Dreams Manila offers to further expand the Crown brand
throughout Asia, helping us to realize Crown's vision of being a leading
global luxury brand, with a focus on the broader Asian market. Melco Crown
Entertainment's decision to introduce the exclusive and luxurious Crown Towers
hotel brand to City of Dreams Manila further illustrates the commitment in
expanding the premium and high end gaming market in the Philippines, a
valuable market that Manila is comparatively missing out on."

              Meaningful Increase in Allowable Gaming Positions
                  Following Revisions to Gaming Regulations

To encourage casino licensees in Entertainment City to develop and operate
high quality, internationally competitive, hotel and non-gaming amenities, as
well as drive junket gaming operations at their integrated casino resorts in
Entertainment City, Manila, the Philippine Amusement and Gaming Corporation
("PAGCOR") recently enacted revisions to Regulations 2 (Casino Layout),
Regulations 3 (Gaming Tables) and Regulations 4 (Electronic Gaming Machines)
(together the "Regulatory Revisions") of the Casino Regulatory Manual.

In addition to the current requirement that each integrated casino resort have
a minimum of 800 room keys and a weighted average hotel room size of 40 square
meters, the previous Entertainment City regulatory framework allowed a certain
allocation of gaming tables and electronic table games with reference to the
number of hotel rooms in operation at the resort.

The Regulatory Revisions allow for an increased number of gaming tables,
additional bonus junket tables and electronic gaming machines provided that
various size thresholds for hotel rooms, room suites and villas are met.

As a result of these Regulatory Revisions, City of Dreams Manila is now
anticipated to be able to operate up to approximately 365 gaming tables, 1,680
slot machines and 1,680 electronic table games upon opening.

This compares to 242 gaming tables and 1,450 electronic gaming machines
(including both slot machines and electronic table games) which were
previously anticipated to be in operation at City of Dreams Manila.

Mr. Clarence Chung, Chairman of Melco Crown Philippines, "PAGCOR's decision of
gaming positions allocation based on both quality and size of hotel rooms
demonstrates its forward-thinking approach to ensure integrated casino resorts
in Entertainment City, Manila, possess adequate amenities which are of a
quality and scale necessary to contribute to the long term success of
Entertainment City.

"The meaningful increase in allowable gaming positions at City of Dreams
Manila supports the brand mission and vision of delivering a superior and
premium product to the Philippines entertainment and gaming market. We
strongly believe this favorable policy revision would further differentiate us
apart from our competition and make City of Dreams Manila an internationally
competitive leisure and tourism proposition which will cater to the fast
growing Asian middle class.

"We look forward to working closely with PAGCOR and the Philippines Government
to support and contribute to the growth of the leisure and tourism industry in
the Philippines."

As a result of the decision to deploy the City of Dreams and Crown Towers
brands, as well as reconfiguration of the integrated resort following the
increase in allowable gaming positions, the anticipated project budget for
development, including construction and other costs, of City of Dreams Manila
up to the time of its opening has been increased to approximately US$680
million from approximately US$620 million.

                      Facts about City of Dreams Manila

City of Dreams Manila is being developed and to be operated by Melco Crown
(Philippines) Resorts Corporation in alliance with SM Group's Belle
Corporation. Upon completion around the middle of 2014, the resort complex
located on an approximately 6.2-hectare site at the gateway to Entertainment
City will include the ultimate in entertainment, hotel, retail and dining and
lifestyle experiences with approximately 20,100 sq. meters of aggregated
gaming space, VIP and mass-market gaming facilities.

The integrated resort will feature 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 will be
accented with creative exterior lighting design. It is expected to become an
iconic landmark of the Manila Bay area.

City of Dreams Manila represents an important milestone for Melco Crown
Entertainment, marking its formal entry into an entertainment and gaming
market outside of Macau. City of Dreams Manila meaningfully expands Melco
Crown Entertainment's regional offerings designed to cater to the needs and
ever-growing demands of the increasingly important Asian middle-class which
continues to seek a more sophisticated and broader leisure and entertainment
experience.

Safe Harbor Statement

This announcement 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 announcement 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 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 (HKSE:6883) (Nasdaq:MPEL). It is currently developing City of
Dreams Manila, a casino, hotel, retail and entertainment integrated resort in
Manila, which is expected to open in mid-2014 and have six hotel towers,
including an approximately 260 room Crown Towers hotel and other hotels with
VIP and five-star luxury rooms and high-end boutique hotel rooms, 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")
(HKSE:6883) and its American depositary shares listed on the NASDAQ Global
Select Market (Nasdaq:MPEL), is a developer and owner of casino gaming and
entertainment casino 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, has been
cooperating with SM Group's Belle Corporation to develop and operate City of
Dreams Manila, 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
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 Executive
Chairman Mr. James Packer, who is also Co-Chairman and a Non-executive
Director of 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

FleishmanHillard Manila
Cosette Romero
Senior Vice President and General Manager
Tel + 63 971 5378420 or + 632 893 5369
Email: cosette.romero@fleishman.com

FleishmanHillard Hong Kong
Alex Lanceley
Senior Vice President and Partner
Tel + 852 9028 7010 or + 852 2530 0234
Email: alex.lanceley@fleishman.com