Macao Studio City

Written on January 15, 2007 by Macau

Project Will Be Region’s First to Integrate Television and Film Production with World-Class Retail, Gaming, and Resort Properties.

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Studio City, Asia’s first leisure resort property combining theatre, television and film production facilities, and Studio Retail(TM), with gaming, and world-class hotels, was officially launched at a groundbreaking ceremony in , , on January 11, 2007.

Studio City is being developed by Cyber One Agents Limited, a 60/40 joint venture between Hong Kong-based eSun Holdings (“eSun”; stock code: 571)(through its subsidiary, East Asia Satellite Television Holdings) and New LLC.

eSun Holdings is one of Asia’s leading media and companies and an associate company of Lai Sun Development (“LSD”; stock code: 488), a leading hotel and property developer. Both companies are part of Hong Kong’s Lai Sun Group. Singapore’s CapitaLand is a shareholder with eSun Holdings in East Asia Satellite Television Holdings owning 33.3 per cent of that venture.

New , LLC is a consortium of US-based investors including David Friedman, Co-Chairman of Studio City and a veteran resort and gaming developer who led Las Vegas Sands’ entry into , and funds managed by Silver Point Capital, L.P., a private US-based investment firm, and Oaktree Capital Management, LLC, a global independent investment management firm.

During his opening remarks at the groundbreaking ceremony, Mr. Peter Lam, Co-Chairman of Studio City and Chairman of Lai Sun Group, said, “As many of you know, Studio City represents a major milestone in the realization of eSun Holding’s vision for ’s tourism and – a vision that dates back to our company’s acquisition of the site in 2001 on what was once just water and a causeway. In this, Macao Studio City is not only a flagship undertaking of eSun Holdings, but also, a flagship of our commitment to and our longstanding belief in and excitement about its future.”

The project will be developed on an approximately 35-acre site strategically located “Where Begins(TM)”, next to the new Lotus Bridge immigration checkpoint, linking the complex directly to Zhuhai’s Hengqin Island.

Designed by visionary Las Vegas-based and casino design expert Mr. Paul Steelman, the new world-class studio, , and Studio Retail(TM) complex is projected to have a total developed gross floor area of approximately 6 million square feet. Steelman’s past and current clients include such recognized names as MGM Mirage, Las Vegas Sands, Sheraton, Hyatt and Harrah’s, among others.

The planned components of Studio City will be some of the most comprehensive and extensive of any single property in , including a 2,300 seat theatre, a 4,700 person capacity arena/MICE center, stand-alone state-of-the-art television and film production facilities and a 1.4 million square feet Studio Retail(TM) complex to be created in partnership with Taubman Centers, Inc., one of the world’s leading destination retail developers, owners and managers.

Studio Retail(TM) will integrate live-audience taped lifestyle and fashion programming throughout the retail environment, re-interpreting the Asian shopping experience. Studio Retail(TM) will draw upon eSun’s leadership in the film, music production, talent management and live arenas and Taubman’s own unmatched track record in creating dynamic retail environments such as The Pier at Caesar’s in Atlantic City, the future MGM MIRAGE CityCenter retail district development in Las Vegas, and other retail properties spanning from Beverly Hills to Orlando, Florida.

In phase I alone, some of the world’s most recognized hotel brands are also anticipated to partner with Studio City to create over 2,000 luxurious guest rooms and suites, including Marriott International, Inc., which has entered into a letter of intent with the joint venture to manage both a Marriott hotel and a Ritz-Carlton hotel on the property. This exciting new venture will also include in phase I a new 6-star boutique hotel concept to be created by Mr. David Tang, founder of the China Clubs and Shanghai Tang, which will be called The Tang Hotel.

In cooperation with a subsidiary of NASDAQ-listed () Limited which owns one of the only six gaming licenses in , New LLC plans to create 500,000 square feet of gaming facilities comprising more than 400 gaming tables at Studio City.

Mr. Lam said, “We are seeking to create not only an home for Asia’s leading stars, but also an opportunity for our visitors and guests to become a part of the star experience, themselves, through their participation in television and events.”

Mr. Friedman, Co-Chairman and Co-Chief Executive Officer of Studio City, said, “We are bringing together the best in , hotel and retail to create an all-encompassing, new and unique experience for visitors to . eSun has unsurpassed experience in the region’s industry and an in-depth understanding of what Asian consumers want. New has extensive financial resources and experience in resort development through major projects in Las Vegas and . Our retail offer will be unsurpassed in and our hotel partners are among the world’s most respected brands.”

“ is a key element in ’s emergence as a world-class leisure resort destination. We expect Studio City to be ’s leading gateway facility, welcoming visitors to the new ,” said Mr. Ambrose Cheung, Co-Chief Executive Officer of Studio City. “We are proud of the internationally renowned partners who are joining us in this endeavour, and we believe that together, we will be creating a must-see, must-stay, must-shop destination.”

About Cyber One Agents Limited

Studio City is being developed by Cyber One Agents Limited, a joint venture between eSun Holdings Limited, CapitaLand and New LLC. eSun Holdings is one of Asia’s leading media/ groups, an associate company of Lai Sun Development and part of Hong Kong’s Lai Sun Group.

For more information on Studio City, please visit www.macaostudiocity.com

About eSun Holdings Limited and Lai Sun Development Limited

One of Asia’s largest media and groups, eSun Holdings Limited’s businesses span film production and distribution, live promotion and production, music production and distribution, artist management, advertising agency services, satellite television operations and the Studio City casino/resort development. These activities are managed through two publicly listed entities, eSun Holdings Limited, listed in Hong Kong, and Media Asia Group Limited, the Group’s film production flagship, listed in Singapore (held 37.33% by eSun Holdings Limited). eSun Holdings also holds a 36.72% stake in Hong Kong listed Lai Sun Development, which holds a 34.83% reciprocal stake in eSun Holdings.

In , eSun Holdings is a significant shareholder in Studio City, an approximately 35 acre casino/resort development located in , one of the largest in the territory. Through its live arms, East Asia and Much , the Group is involved in approximately 70% of all live concerts in Hong Kong, with the Group’s talent management vehicles represent, collectively, one of the largest rosters in the region. East Asia Satellite Television, the Group’s television arm, broadcasts original and syndicated programming to audiences in Hong Kong, and the PRC. Advertising services in Guangzhou and Hong Kong are provided through Vision Communications. Music label operations are managed through East Asia Music (Holdings) Limited and East Asia Record Production/amusic.

Lai Sun Development owns and/or manages in the region roughly 900 hotel rooms including Hong Kong’s Ritz-Carlton and Majestic Hotels, and Saigon’s Caravelle Hotel, and holds important stakes in the China Clubs of Hong Kong, Beijing, and Singapore. Key Hong Kong properties include AIG Tower, Causeway Bay Plaza II, Cheung Sha Wan Plaza, and Lai Sun Commercial Centre. It also holds stakes in Hong Kong’s Waterfront Project, and the Wan Chai Wood Road Project.

For more information, please visit www.laisun.com.hk and http://www.laisun.com.hk/eng/esun/corporate.php

About New , LLC

New is owned by a consortium of partners including Silver Point Capital L.P., a global private investment firm with approximately US$7 billion (HK$54.4 billion) under management, based in Greenwich, Connecticut, USA; Mr. David Friedman, a former senior executive of Las Vegas Sands Inc. who has over 20 years of experience in international resort and gaming development; and funds managed by Oaktree Capital Management, LLC, a global independent investment management firm with over US$33 billion (HK$257.1 billion) of assets under management, in specialized investment strategies, and offices in North America, Europe and Asia.

About CapitaLand

CapitaLand is one of the largest listed real estate companies in Asia. Headquartered in Singapore, the multinational company’s core business in real estate, hospitality and real estate financial services are focused in gateway cities in Asia Pacific, Europe and the Middle East.

The company’s real estate and hospitality portfolio spans more than 80 cities in 20 countries. CapitaLand also leverages on its significant real estate asset base and market knowledge to develop real estate financial products and services in Singapore and the region.

The listed subsidiaries and associates of CapitaLand include The Ascott Group, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, Quill Capita Trust and Australand.

For more information, please visit www.capitaland.com

About Paul Steelman Design Group

Founded in 1987, Paul Steelman Design Group has positioned itself as the premier touchstone in the architecture industry. Paul Steelman Design Group is an enclave of the industry’s most talented and acclaimed architects, designers, planners and artists. The resulting work is renowned, remarkable and memorable.

Paul Steelman is the president and chief executive officer of the Paul Steelman Design Group. Paul Steelman Design specializes in /hospitality and casino design projects throughout the world. Widely recognized as a leader in casino architecture, Paul opened his own practice specializing in design in 1987.

Nineteen years later, the firm grossed more than $35 million in 2005, making it one of the top ranked architectural firms in the world. Steelman has completed and constructed every type of casino project from resort and local casinos to riverboat, Native American, pari-mutuel and European casinos.

Steelman also has worked for many large gaming companies, including MGM Grand, Mirage Resorts, Sheraton, Hyatt, Sun International, Foxwoods, Swiss Casinos, Hard Rock, Grand Casinos, Icahn Enterprises, Park Place, Caesars, Barriere, Harrah’s, Showboat, Lady Luck, Silverton, and Viejas to name a few.

For more information, please visit www.paulsteelman.com.

About Taubman Asia

Taubman Asia is a subsidiary of Taubman Centers, Inc. a global leader of the shopping center industry. Taubman Asia focuses on owning, managing, developing and acquiring high-quality and sustainable retail real estate projects in Asia that leverage Taubman’s strong retail planning, design and operational capabilities.

Taubman has been a pioneer of the US shopping center industry for 50 years. Today, Taubman Centers (NYSE: TCO) owns and/or manages the most consistent and productive regional mall portfolio in the US including 23 regional and super regional shopping centers in 11 US states. Taubman Asia is headquartered in Hong Kong. Additional information about Taubman Centers can be obtained from the company’s website, www.taubman.com.

About () Limited

is a developer, owner and operator of casino gaming and casino resort facilities focused exclusively on the rapidly expanding market. A subsidiary of is the holder of one of only six gaming concessions and subconcessions to own and operate casinos in . ’s development projects include the Crown , which is targeted to open in the second quarter of 2007, and the , the first phase of which is targeted to open in late 2008.

has strong support from both of its founding shareholders, Melco International Development Limited (“Melco”) and Publishing & Broadcasting Limited (“PBL”). Melco is a listed company on the HK Stock Exchange and is substantially owned by Mr. , who is also a Co-Chairman and CEO of . PBL is a top-20 company listed on the Australian Stock Exchange and led by Executive Chairman James Packer, who is also a Co-Chairman of .

For more information about , please visit http://www.melco-pbl.com.

For more information, please contact:
Beyond Communications HK Ltd.
Ms Jo So / Ms Angelina Leung
Tel: 2815 5088
Fax: 2815 5123
Email: angelina.leung@beyondpr.com

This press release contains “forward-looking statements” within the meaning of US federal securities law, which are intended to qualify for the safe harbour from liability provided thereunder. All statements which are not historical statements of fact are “forward-looking statements” for purposes of these provisions and are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Forwarding-looking statements include statements regarding objectives or statements regarding Studio City’s expected development schedule, statements of belief, and/or statements regarding anticipated construction or development.

Source | MacaoStudioCity.com

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Posted in CapitaLand, Design & Construction, Development, Macau Casino, Macau Gaming, Macau Property, Macau Retail, Macau Studio City, Macau Tourism, Shopping

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