MACAU – Thursday, April 30, 2015: Melco Crown Entertainment Limited (SEHK: 6883; Nasdaq: MPEL) (“Melco Crown Entertainment”, “MCE” or the “Company”), a developer and owner of casino gaming and entertainment resort facilities in Asia, always puts priority developing local talents through its innovative people programs. Today, the Company proudly announces the new Local Management Development – Foundation Acceleration Program (“Foundation Acceleration Program”) for its local employees that aims to enhance preparedness for management responsibilities through a structured program including executive education, exposure to various business areas, leadership development and insight, and international exposure.
Mr. Lawrence Ho, Co-Chairman and Chief Executive Officer of Melco Crown Entertainment Limited, said, “Melco Crown Entertainment has grown tremendously in the past decade. With deep roots in Macau, we are committed to developing local employees. The new Foundation Acceleration Program is planned and structured to develop our current local management employees’ understanding of business operations, as well as their business perspective beyond the functional view. I believe these are essential qualities for future management and executives to possess in order to lead the Company through growth and challenges, and to be ready for the development of Macau into the world center of tourism and leisure.”
Melco Crown Entertainment’s Local Management Development – Foundation Acceleration Program is the latest addition to its comprehensive people program. The goals of the program are to identify, promote, develop and nurture local management talent through a unique and best-in-class program of its kind.
71% Local Management
Melco Crown Entertainment’s strong commitment in developing local talents is evidenced in its holistic people program which comprises unique initiatives developed since the establishment of the Company. In 2008, the Company had 34% local management staff. Mr. Lawrence Ho initiated the “50/2010 Action”, a goal to have 50% local management staff by the year 2010. Today, that figure is 71%.
In-house Learning Academy Has Trained Over 47,000 Local Participants To-date
Melco Crown Entertainment believes in life-long learning and whole- person development. It established Macau’s first in-house Learning Academy in 2009, offering over 200 courses every year to its employees. Courses offered include management, human resources, marketing, finance, leadership, and Responsible Gaming. To date, a total of 47,907 local participants have taken at MCE’s Learning Academy. One of the programs is the Dealer Career Progression Program in which a structured curriculum is available from dealer positions up to Operations Management positions, where employees can develop and equip themselves for future management responsibilities. Every single operational Table Games position above Dealer will be filled through internal promotions at Studio City.
Macau’s First and Only High School Diploma Program in Collaboration with the Department of Education – Back to School Program – Recognized by Macau Youth Chamber of Commerce, Caridade Social 2014
Melco Crown Entertainment also launched Macau’s only in-house high school diploma program “Back to School”. This was the first program to partner with the Department of Education. With the management’s support on flexible scheduling, MCE employees were given the opportunity to work towards and achieve their high school diploma at the Company’s Learning Academy, which also assists in easing transportation and time issues. There have been over 90 employees have enrolled in the program to date, most of whom are dealers.
“This is a historic moment and historic cooperation,”said Ms. Vicky Leong, Head of Education Department, at the first graduation ceremony of the Back to School program in July 2014, when three Melco Crown Entertainment employees – Cheang Ka Wa, age 30, Chong Sok I, age 47, So Chun Kit, age 51 – were awarded their high school diploma after attending three-hour classes five days a week for four years.
The Back to School program was recognized by Macau Youth Chamber of Commerce at its annual event Caridade Social in November 2014, as was Melco Crown Entertainment’s continuous effort in caring for its employees and the community, as well as its contribution in corporate social responsibility.
Through the implementation of innovative policies and programs, Melco Crown Entertainment has offered over 18,000 internal promotion and transfer opportunities, including over 7,300 internal promotions; over 9,560 internal transfers; and over 1,300 planned transfers and promotions for Studio City.
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Safe Harbor Statement
This press 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. Melco Crown Entertainment Limited (the “Company” or “Melco Crown Entertainment”) 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 press 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 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 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 (www.studiocity-macau.com), 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 Chief Executive Officer 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.
For media inquiries, please contact:
Melco Crown Entertainment
Ms. Maggie Ma
Head of Corporate Communications
Tel: +852 3151 3767 / +853 8868 3767
Email: maggiema@melco-crown.com
Ms. Jessie Kuan
Senior Manager, Public Relations
Tel: +853 8868 7556/ +853 6693 8047
Email: jessiekuan@melco-crown.com
