Melco PBL Entertainment (Macau) Limited, a developer and owner of casino gaming and entertainment resort facilities, announced today that its shareholders passed a resolution at its Annual General Meeting to change the name of the company to Melco Crown Entertainment Limited, effective immediately. The company’s ticker symbol, MPEL, remains unchanged.
The name change reflects a previously announced change in the ownership structure of one of its founding shareholders. On December 12, 2007, Publishing and Broadcasting Limited (now known as Consolidated Media Holdings Limited) completed a demerger of its gaming and media businesses into two separate companies, both listed on the Australian Stock Exchange. The demerger was achieved by two concurrent shareholder-approved and court-approved Schemes of Arrangement under Australian Corporations Law.
As a result of the demerger, Crown Limited became the owner of the gaming assets of PBL including PBL’s shares in MPEL.
Crown is a top-50 company listed on the Australian Stock Exchange and led by Executive Chairman James Packer, who is also a Co-Chairman of MPEL.
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