Over 8,500 employees at three employee rallies last week witnessed Melco Crown Entertainment's unveiling of its Studio City Event Center.
The rally, hosted by Lawrence Ho, co-chairman and CEO of MCE, was attended by Chan, the COO, along with other senior company executives. It was more than 8,500 employees who attended the rally to celebrate Studio City's grand opening countdown, which will feature a performance by singer, songwriter, record producer, and actor Mariah Carey. Ho told the rally, "Studio City's epic stage, born of Melco Crown Entertainment's unique innovative DNA, will be broadcast live. We will revolutionize Macau's tourism landscape through the spotlight of world entertainment and world-class non-game offerings."
In order to accommodate the current market conditions and the Macau government's new strategy of attracting more tourists and become a more family-friendly holiday destination, Melco Crown Entertainment has decided to downgrade its original five-star rating and roll out the hotel to a four-star rating. Stern Age analyst David Bain said he is unlikely to experience another recent trending stock rally until results from the early opening of Macau City are absorbed.
Melco Crown is awaiting a decision from its regulator, the Macau Game Inspection and Coordination Bureau, which will determine how many tables will be allowed in Studio City Macao when the $3 billion Hollywood-themed complex opens as scheduled