"New corporation" just before Christmas, before deciding on a current name and hoping to rename it Melco Resorts & Entertainment soon.

The name change effort follows a recent agreement by parent company Melco International Development Limited to purchase an additional 13.4% stake in Melco Crown Entertainment Limited from Australian company Crown Resorts Limited, according to a report by Asia Gaming Brief. The deal would give the Hong Kong-based businessman Lawrence Hoyaw Lung a 51.3% stake in Melco Crown Entertainment Limited, while the Melbourne-based partner's stake would be reduced to 11.2%.

Melco Crown Entertainment Limited, which operates Studio City Macao and City of Dreams Manila properties and recently announced plans to host a multi-billion dollar gambling hub in Osaka, Japan, reportedly explained that the name change was part of the decoupling from a former joint venture partner in Australia and would only become official after shareholder approval at a meeting later this month.  파워볼사이트

Maggie Ma, Senior Vice President of Corporate Communications and Publications at Melco Crown Entertainment Limited, said, "With Melco [International Development Limited] and Lawrence [Ho] now holding a majority stake, we are all looking forward to the new company unveiling a new chapter and reflecting new energy."

Melco Crown Entertainment Limited, which additionally operates City Of Dreams Macao and Altira Macao developments, recently reported a 13% year-over-year increase in net income for the fourth quarter of 2016 to $1.19 billion, while property gains before interest, tax, depreciation and amortization increased 29% to $343 million. This resulted in the company converting a deficit of $12.3 million in the last three months of 2015 to a net profit of $43.3 million in the fourth quarter of last year.