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Melco PBL Entertainment (Macau) Limited Disclaimer MelcoMelco PBLPBL EntertainmentEntertainment (Macau)(Macau) LimitedLimited Citi Entertainment, Media & Telecommunications Conference January 10, 2008 1 January 2008 © copyright Melco PBL Entertainment (Macau) Limited Disclaimer Safe Harbor Statement This presentation contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. MPEL may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about MPEL’s beliefs and expectations, are forward-looking statements. Forward- looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: growth of the gaming market and visitation in Macau; finalization of credit facilities to finance construction of projects; the completion of the construction of our hotel casino resort projects; our acquisition and development of the Macau Peninsula site; increased competition and other planned casino hotel and resort projects in Macau and elsewhere in Asia; the completion of infrastructure projects in Macau; government regulation of the casino industry; our ability to raise additional financing; the formal grant of a land concession for the City of Dreams site on terms that are acceptable to us and obtaining approval from the Macau government for an increase in the developable gross floor area of the City of Dreams site; the formal grant of an occupancy permit for City of Dreams; our anticipated growth strategies; and our future business development, results of operations and financial condition. Further information regarding these and other risks is included in our prospectus on Form F- 1, filed on November 1, 2007, as amended, and other documents filed with the Securities and Exchange Commission. MPEL does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release is as of the date of this release, and MPEL undertakes no duty to update such information, except as required under applicable law. 2 January 2008 © copyright Melco PBL Entertainment (Macau) Limited Founding Shareholders International Gaming Experience Major Asian Gaming / Entertainment Presence with Macau Roots Leading Crown brand One of the first movers in the Macau gaming market Over 10 years of experience working with Asian VIPs Founder of MPEL and Originator of Crown Macau, City of Dreams and Mocha projects Operates Crown Melbourne & Burswood Casino in Perth with 400 tables, 4,000 gaming machines, 1,650 Extensive government, business and regulatory relationships in hotel rooms & 100,000 sq. ft. of meeting and function Macau, Hong Kong and China space In-depth knowledge of Macau VIP Market and Investments in North American casinos: extensive/established relationships with Macau junket operators Owns 19.6% of Fontainebleau Resorts Other members of Melco Group: Owns a 37.5% equity interest in LVTI, which Operator of PRC and Asian lottery business via PAL and has secured an option on 26.9 acres on the LV HK listed Wafer Strip adjacent to Fontainebleau Las Vegas. Slot machine supplier in Asia via US listed EGT Through a joint venture with Macquarie Bank, Owner/operator of ski resorts in China via MCR Crown owns 50% of Gateway Casinos, the In the process of acquiring a fully-licensed bank in operator of nine casinos in Western Canada. Macau via HK listed VC Established VIP marketing network throughout Asia 3 January 2008 © copyright Melco PBL Entertainment (Macau) Limited World’s Largest Gaming Destination Close Proximity to Major Asian Population Centers (in millions) 2005 China 1307.5 Hong Kong 6.9 Indonesia 242.0 Japan 127.5 Korea 48.3 Macau 0.5 Malaysia 25.9 Philippines 87.9 Singapore 4.4 Taiwan 22.6 Thailand 65.5 Source: Economic Intelligence Unit Note: Mid-year Population Estimate Macau is the only city in China with legalized casino gaming In 2006, Macau overtook Las Vegas as the largest market in terms of gaming revenue (excluding sports book and race book) 4 January 2008 © copyright Melco PBL Entertainment (Macau) Limited Supply Led Visitor Growth 35.0% 29.7% 29.6% 30.0% 26.1% 25.2% 25.0% 24.3% 23.9% 22.7% 22.3% 22.5% 22.1% 21.4% 20.3% 20.3% 19.6% 20.0% 19.2%19.1% 18.5% 18.2% 16.5% 15.0% 11.4% 10.9% 11.0% 10.0% 8.2% 5.0% 0.0% Jul. Jul. Mar Mar Apr. Apr. Oct. Oct. Jun. Jan. Jun. Jan. Feb. Feb. Aug. Nov. Aug. Nov. Dec. May. May. Sept. Sept. Source: Citi 5 January 2008 © copyright Melco PBL Entertainment (Macau) Limited Revenue Growth Exceeds Visitation Growth Y/Y Monthly Gaming Revenue Growth 80.0% 72% 70.0% 66% 60.0% 57% 56% 55% 50% 50.0% 44% 42% 42% 40% 41% 40.0% 36% 33% 34% 34% 31% 30.0% 20.0% 19% 9% 10.0% 7% 4% 0.0% Jul-06 Jul-07 Oct-06 Jan-07 Oct-07 Jun-06 Apr-07 Jun-07 Feb-07 Mar-07 Dec-06 Dec-07 Sep-06 Sep-07 Nov-06 Nov-07 Aug-06 Aug-07 May-06 May-07 * December figure based on press reports Source: Citi 6 January 2008 © copyright Melco PBL Entertainment (Macau) Limited January 2008 January Robust GDPGrowth 10.0 15.0 20.0 25.0 30.0 35.0 40.0 5.0 GDP MOP in bn bn in MOP GDP 1Q1999 2Q 3Q ( 4Q Bar 1Q2000 ) 2Q 3Q 4Q 1Q2001 2Q 3Q 4Q Nominal GDP Quarterly Macau's 1Q2002 2Q 3Q 4Q 1Q2003 2Q 3Q 7 4Q 1Q2004 2Q 3Q 4Q 1Q2005 2Q © Limited (Macau) PBL Entertainment Melco copyright 3Q 4Q 1Q2006 2Q 3Q 4Q % QoQ Ch % 1Q2007 2Q Source: Citi Source: 3Q g ( Line -20.0% -10.0% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% ) Macau Infrastructure Supports Growth Lotus Bridge: Connects Taipa Island of Macau and Hengqin 1 Island of Zhuhai Re-opened for Golden Week in May 2007 New Ferry Pier: 2 Pac On Ferry Pier is expected to open in 2009 Service at temporary facility currently suspended International Airport: 3 MOU (air transport) signed between Macau and China authorities in Dec 2006 Light Railway: 4 The railway route will connect the majority of the properties on Macau Peninsula and Taipa 8 January 2008 © copyright Melco PBL Entertainment (Macau) Limited Development Concentrated in New Macau Peninsula 20% $8,000.0 $7,000.0 $6,000.0 Cotai 80% $5,000.0 $4,000.0 $3,000.0 $2,000.0 $1,000.0 $- 2004 2005 2006 2007 2008 2009 2010 2011 Source: company reports and analyst notes 9 January 2008 © copyright Melco PBL Entertainment (Macau) Limited Portfolio Mix Traditional Perspective Future Perspective Local Slots 3% 4% Day- trip 25% Mass VIP 31% 42% VIP 65% Multi- night 30% 10 January 2008 © copyright Melco PBL Entertainment (Macau) Limited The Portfolio 11 January 2008 © copyright Melco PBL Entertainment (Macau) Limited 12 January 2008 © copyright Melco PBL Entertainment (Macau) Limited Crown Macau Primarily caters to VIP patrons Located discretely in Taipa, offering privacy to VIP players Luxurious casino and hotel setting provides patrons with premium gaming Overview experience Focus on limited access high-limit private gaming areas and private gaming rooms Approximately 183,000 sq. ft. of gaming space Exclusive private environment with rich décor and high quality service Casino Roughly 240 tables and 240 gaming machines High-limit tables in limited access private gaming areas Floor layout flexible to reconfigure depending on market positioning 216 oversized deluxe rooms, including 24 suites and 8 villas Hotel & Amenities Premium amenities include: gymnasium, an outdoor garden podium and a sky terrace lounge Food & Beverage Four fine dining restaurants featuring a variety of local and international cuisines 13 January 2008 © copyright Melco PBL Entertainment (Macau) Limited 14 January 2008 © copyright Melco PBL Entertainment (Macau) Limited 15 January 2008 © copyright Melco PBL Entertainment (Macau) Limited 16 January 2008 © copyright Melco PBL Entertainment (Macau) Limited 17 January 2008 © copyright Melco PBL Entertainment (Macau) Limited 18 January 2008 © copyright Melco PBL Entertainment (Macau) Limited AMA International Agreement 3-year contract with 2-year extensions AMA has entered agreements with several collaborators representing a significant percentage of the VIP market AMA provides working capital to these collaborators -- commission rates at FRJO level are unchanged Operations commenced December 15 Reconfiguration of Crown Macau is complete 19 January 2008 © copyright Melco PBL Entertainment (Macau) Limited AMA Business Model Crown Macau AMA Commission rate @ 1.2% - 1.35% Junket Operator Junket Operator Junket Operator Rate @ 1.2% Junket Junket Junket Junket Junket Junket Rate @ 0.7%-1.0% 20 January 2008 © copyright Melco PBL Entertainment (Macau) Limited AMA – No pressure on commissions Junket commissions rates are unchanged under the AMA agreement AMA receives a maximum commission rate of 1.35% 1.20% maximum commission to Junkets 0.15% fee to AMA to consolidate the business and provide working capital to the Junkets The maximum rate of 1.2% for AMA junkets is in-line with the maximum
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