Melco China Resorts expands land ownership at Sun Mountain Yabuli Resort by 191% to 220.3 hectares



    BEIJING, June 25 /CNW/ - Melco China Resorts (Holding) Limited
(TSXV: MCG, MCG.WT) ("Melco China Resorts" or the "Company"), is pleased to
announce that it has acquired in aggregate an additional 144.6 hectares of
land at its flagship Sun Mountain Yabuli Ski Resort project in Heilongjiang
Province, China, by way of acquiring a 100 percent equity interest in a
domestic company. Taking into account a government subsidy of RMB 102 million
for the Yabuli project, the net cash out from the Company is RMB 55 million
($8 million). The significant addition to the Company's land bank has enabled
Melco China Resorts to also obtain a RMB 120 million ($18 million) loan from
the Harbin Bank. The loan carries a 7.47 percent interest rate and is secured
by a portion of the Company's land bank. The additional land and funding,
combined with the proceeds of the Company's recent $72 million equity
financing, will allow Melco China Resorts to expand its development plans at
    Sun Mountain Yabuli resort is the core focus of Melco China Resorts
immediate development plan with three premium hotels, including a luxurious 24
all-suite boutique mountaintop hotel, luxury homes, and unique year-round
facilities and attractions currently under construction. Located approximately
two and a half hours south east of the city of Harbin, Yabuli is China's most
recognized destination ski resort and will host the World Winter University
Games in early 2009.
    "This transaction increases our total land holdings for development by
191 percent from 75.7 hectares to 220.3 hectares and provides for additional
development opportunities in key areas of the resort including the resort
village, existing train station, and residential village," commented Graham
Kwan, CEO of Melco China Resorts. "Beyond the potential to add hotels and
entertainment attractions, the land acquisition dramatically expands the
potential scale of our residential component. Our initial plan called for
development density of 3,200 units, with initial sales expected to begin this
July. The optioned land will allow us to increase that number by up to 2,800
additional units subject to master planning, unit layout and approvals."
    According to the China Ski Association, the total number of ski visits in
China increased at a CAGR of 109 percent to more than 4 million between 1999
and 2004. The number is expected to increase to 10 million by 2010. Capturing
this tremendous opportunity, Melco China Resorts, the largest ski operator in
China, is transforming five existing ski areas, four in the northeastern
provinces of Heilongjiang and Jilin, and one near China's capital city,
Beijing, into unique, year-round luxury mountain resorts. Melco China Resorts
has plans to secure additional areas and develop further resorts in the coming
years. The result will be China's premier network of year-round village
centered, destination mountain resorts.

    About Melco China Resorts

    Melco China Resorts is China's single largest ski resort developer and
operator with five premier destination resort properties. The portfolio
includes Sun Mountain Yabuli, host for the 2009 World University Games; Sky
Mountain Beidahu, host of the 2007 Asian Winter Games; The Lotus Mountain
Club, to be developed as an ultra-exclusive and private mountain resort club;
Adventure Mountain Changchun, an experiential mountain adventure centre
retreat; and Star Mountain Beijing, the Company's' first ski area in the major
Beijing market and home to Melco China Resorts ski school headquarters, The
Perfect Turn. Melco China Resorts is committed to developing the five
properties and transforming them into world-class, four seasons luxury
mountain resorts with excellent real estate investment opportunities for
discerning buyers.
    Melco China Resorts' leadership team boasts a proven record of resort
development success both internationally and in China.

    The TSX Venture Exchange has in no way passed upon the merits of the
    Transaction and has neither approved nor disapproved the contents of this
    press release.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.


    Information in this press release that is not current or historical
factual information may constitute forward-looking information within the
meaning of securities laws, and actual results may vary from the
forward-looking information. Implicit in this information are assumptions
regarding future operations, plans, expectations, anticipations, estimates and
intentions, such as the plans to develop the ski resorts in China. These
assumptions, although considered reasonable by Melco China Resorts at the time
of preparation, may prove to be incorrect. Readers are cautioned that actual
future operating results and economic performance of Melco China Resorts are
subject to a number of risks and uncertainties, including general economic,
market and business conditions, uncertainty relating to land use rights,
adverse industry events for the ski and real estate industries, Melco China
Resorts' ability to make and integrate acquisitions, the requirements of
recent Chinese regulations relating to cross-border mergers and acquisitions,
the inability to obtain required approvals or approvals may be subject to
conditions that are unacceptable to the parties, changing industry and
government regulation, as well as Melco China Resorts' ability to implement
its business strategies, and to raise sufficient capital, seasonality, weather
conditions, competition, currency fluctuations and other risks, and could
differ materially from what is currently expected as set out above.
    Forward-looking information contained in this press release is based on
current estimates, expectations and projections, which MCR believes are
reasonable as of the date of this press release. Melco China Resorts uses
forward-looking statements because it believes such statements provide useful
information with respect to the operation and financial performance of Melco
China Resorts, and cautions readers that the information may not be
appropriate for other purposes. Readers should not place undue importance on
forward-looking information and should not rely upon this information as of
any other date. While Melco China Resorts may elect to, it does not undertake
to update this information at any particular time.

For further information:

For further information: Melco China Resorts, Investor Relations, Ali
Mahdavi or Kevin O'Connor, Tel: (416) 962-3300, Fax: (416) 962-3301, Email:

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