Macau: A Sure Bet Throughout its history, Macau has been a popular tourist destination for Hong Kong locals and residents of Mainland China. Macau has enjoyed an unprecedented economic boom following the decision by the Macau government in 2002 to deregulate its 40-year-old gaming industry. The decision to deregulate the gaming industry in Macau has attracted substantial investment commitments from world-renowned developers of casino and entertainment resorts. Each operator is tasked with developing quality leisure and entertainment attractions together with the latest casino facilities, ensuring Macau's reputation as a top travel destination. Visitor arrivals to Macau surpassed 20 million in 2006, a year-on-year increase of nearly 18% and went beyond 2.6 million in December 2007, representing a year-on-year increase of 21.1%. According to information from the Macau government, more than half of these arrivals were from Mainland China as a result of China's recent liberalization of its travel visa and currency conversion policies in combination with its sustained strength in economic growth. With all of these positive factors in play, according to a 2007 South China Morning Post report, Macau overtook the Las Vegas Strip as the largest gaming market in the world in 2006 when its gaming revenues surged 23% year-on-year to US$6.87 billion. In 2007, Macau¡¦s gaming revenues reached US$10.4 billion, a 46.6% increase over the previous year. At Melco Crown Entertainment, we are extremely confident that our commitment to quality, professional integrity and innovation will set our Company apart and enable us to capture the opportunities presented within Macau's gaming industry and thereby maximize the returns of our shareholders.
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