he Crown Macau is scheduled to formally open to the public on May 9, 2007, and a grand opening event will be held on the May 12, 2007.
"We continue to make excellent progress at Crown Macau. Our construction program remains on schedule and we look forward to the trial opening," states Simon Dewhurst, Executive Vice President & Chief Financial Officer of Melco PBL Entertainment. "Against tough deadlines, our construction has progressed relatively smoothly, a testament to our Crown Macau contractors and staff."
The construction of Crown Macau commenced on December 2004 and is being developed to offer a luxurious premium hotel and casino resort experience. In the Company’s initial public offering prospectus, filed with the U.S.
Securities and Exchange Commission on December 19, 2006, the company estimated that the total project development costs for the Crown Macau would be us$ 512.6 million, which included the value of land for the project, land premium costs, anticipated construction costs, furniture, fixtures and equipment expense (or FF&E), pre-opening expenses, capitalized fees and finance costs, cage cash and initial working capital requirements.