Melco Crown Entertainment Limited announced the company’s official name change from “Melco Crown Entertainment Limited” to “Melco Resorts & Entertainment Limited” yesterday. The name change will become effective upon registration of the gaming operator’s new name by the Registrar of Companies in the Cayman Islands. The company also announced its intention to change its NASDAQ ticker symbol from “MPEL” to “MLCO”. While the English name of the company has changed, however, the company’s Chinese name remains the same. The effective date of the name change and the ticker symbol change will be announced at a later date.
The move comes subsequent to Melco International Development Limited’s purchase of additional interest in Melco Crown Entertainment (MCE) in February, thereby assuming majority ownership of the company. Melco now holds approximately 51.3 percent of MCE whereas previously it owned approximately 37.9 percent.
In light of this change, MCE’s management proposed a special resolution on March 29 at the company’s annual general meeting, to change the company’s English name, receiving shareholders’ approval.
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