Asian casino operator Melco Crown Entertainment Limited has officially changed its name to Melco Resorts and Entertainment Limited, while City of Dreams Macau Development’s Hard Rock Hotel will be rebranded as The Countdown.
Melco Crown Entertainment Limited, which also operates Studio City Macao and City of Dreams Manila properties and recently announced plans to host a multi-billion dollar gambling-focused venue in Osaka, Japan, was established as a joint partnership between Australian operator Crown Resorts Limited and Hong Kong-based Melco International Development Limited. But last year, interest from its Melbourne-based partner shrank to 11.2%, while the latter bought an additional 51.3% of the dominant stake.
Hong Kong-listed Melco Resorts And Entertainment Limited first unveiled plans for “new corporate identity” as a way to represent a modified ownership structure and better reflect “new energy.”
“The company’s Nasdaq ticker symbol will be changed from ‘MPEL’ to ‘MLCO’ with the name change, which is expected to take effect around April 6,” Melco Resorts and Entertainment Limited said in a statement. “The actual effective date of the new ticker symbol will be announced separately by Nasdaq.”
As part of the renaming event, Melco Resorts And Entertainment Limited declared that Macau will announce the Hard Rock Hotel in The City Of Dreams as The Countdown from the first day of July until the end of March next year, explaining that the fifth hotel tower under construction in the Macau development will be designed by the late Zaha Hadid and named Morpheus
A statement from Melco Resorts And Entertainment Limited said, “The Countdown Hotel will celebrate the great achievements of the City Of Dreams Macau, inviting guests to the resort’s world-class offerings, from the world’s largest award celebration, The House Of Dancing Water, to the Michelin-starred restaurant and exciting shopping experience featuring the largest shoe salons in Hong Kong and Macau.”
Melco Resorts and Entertainment Limited is responsible for the nearby Altira Macao venue, and The Countdown said it will introduce a countdown clock “in time for the unveiling of the new development phase” for City Of Dreams Macao, which strives to become “Macao’s most stylish and exclusive resort.”
In a statement from Lawrence Ho Yau Lung, chairman and CEO of Melco Resorts And Entertainment Limited, it said, “We are now relying on City Of Dreams Macau, a premier resort that takes our customers to places where no one has ever taken them before and redefines what modern integrated resorts have to offer.”