Melco Crown preps rebirth as Melco Resorts & Entertainment

Casino operator Melco Crown Entertainment (MCE) has confirmed plans to rebrand its operations to reflect its post-Crown identity.

MCE is scheduled to hold its annual general meeting of shareholders at its City of Dreams property in Macau on March 29. One of the proposals on which shareholders will be asked to vote is changing the company’s English name to Melco Resorts & Entertainment Ltd.

MCE had previously announced that it planned to establish a “new corporate entity” following MCE CEO/Chairman Lawrence Ho’s purchase in December of a controlling share in the MCE joint venture from his former equal partner, Australian casino operator Crown Resorts.

Crown, which once held a 34% stake in MCE, has reduced its share to just 11.2% as part of the company’s sweeping restructuring of its business to focus on its domestic gaming operations. With Crown boss James Packer more or less out of the MCE picture, MCE shareholders are also being asked to approve the elimination of the now superfluous role of Deputy Chairman.