City of Dreams contributes to expansion of the Macau gaming market in July

Rolling chip volume at City of Dreams in July was approximately us$ 2.65 billion, up 36% from June's rolling chip volume. The average number of rolling chip gaming tables in operation at City of Dreams in July was approximately 136.

In the mass market segment, City of Dreams generated approximately us$ 132 million of table games drop in July. This represents a 33% sequential increase from the approximate us$ 100 million of drop recorded in June. On average, there were 353 mass market gaming tables in operation at City of Dreams in July.

Gaming machine handle (volume) was approximately us$ 92 million in July. This represents a 13% sequential increase from June. Approximately 1,312 gaming machines were in operation at the property, on average, during July. For the month, visitation reached approximately 1.1 million at City of Dreams or approximately 37,000 visitors per day on average.

Total rolling chip volume at Altira Macau increased sequentially in July over June by 15% to us$ 3.17 billion, demonstrating the company's clear strategic focus of minimizing cannibalization of rolling chip play between Altira Macau and City of Dreams. On a combined basis across both Altira Macau and City of Dreams, the Company's rolling chip hold percentage was 2.94 %, modestly above our target hold percentage of 2.85%.

Lawrence Ho, Co-Chairman and CEO of Melco Crown Entertainment, stated, "Based on media reports that indicate an approximate 3% year-over-year increase in gross gaming revenue in Macau in July, City of Dreams has clearly contributed to a return in year-over-year growth in the market, despite continued challenges in the operating environment and with global macro economic headwinds.

"Our ongoing marketing efforts have improved awareness of City of Dreams in the region, which has translated into meaningfully improved mass market gaming volumes. This, combined with effective yield management, has greatly improved the gaming profile of visitors arriving at City of Dreams. Agreements with our gaming promoters to cap maximum rolling chip commissions offered at City of Dreams in Cotai at an all-inclusive amount of 1.25 % also remain in full effect."

Ho continued, "We remain in the early stages of introducing City of Dreams and expect the property to continue to expand its gaming volumes and profitability as we execute on our various marketing and yield management programs, and on our plans to open the approximate 800 guest room Grand Hyatt Macau by the end of this current quarter. The macro environment in Macau is, in our assessment, also likely to materially improve during the coming months.