Appleby Advises Melcro Crown Entertainment Limited on Latest Macau Acquisition

The Appleby team was led by Judy Lee, a Corporate Partner in Appleby’s Hong Kong office and assisted by Associate, Amelia Hall.

The deal sees MCE acquiring from an affiliate of eSun Holdings Limited, a 60% interest in the Cyber One Group, the developer of Macau Studio City. New Cotai Holdings, LLC, an entity controlled by funds managed by Silver Point Capital, L.P. and Oaktree Capital Management, L.P., has retained its indirect 40% stake in the Cyber One Group.

The development of the Macau Studio City project has the support of MCE’s major shareholders, Melco International Development Limited (Melco) and Crown Limited (Crown).  Melco is a listed company on the Hong Kong Stock Exchange and is substantially owned and led by Mr. Lawrence Ho, who is Co-Chairman, a Director and the CEO of MCE.  Crown is a top-50 company listed on the Australian Stock Exchange and led by Executive Chairman Mr. James Packer, who is also Co-Chairman and a Director of MCE.

Judy Lee commented “We are delighted to be involved with this acquisition which represents a major milestone for MCE and the further growth of Macau as a leading diversified tourist destination in the region.”