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Playboy Enterprises and Macao Studio City Announce Joint Venture to Open 'Playboy Mansion Macao'
MACAO S.A.R., June 27 /PRNewswire/ -- - Entertainment destination to include integrated nightlife, Hugh M. Hefner Villa, retail and entertainment elements Macao Studio City (MSC), one of Asia's first integrated leisure resort properties combining studios, retail, gaming, entertainment and world-class hotels, and multi-media entertainment company Playboy Enterprises, Inc., (PEI) (NYSE: PLA, PLAA) today announced plans to open a Playboy-inspired multi-faceted entertainment destination in Macao. Named Playboy Mansion Macao, the approximate 40,000 square-foot entertainment destination will consist of numerous nightlife and entertainment options, dining, specialty retail elements and a Hugh M. Hefner Villa, which will be a part of the Macao Studio City complex that broke ground earlier this year. Expected to open in late 2009, Playboy Mansion Macao will further strengthen MSC's wide spectrum of partnerships in retail and entertainment to provide a unique Asian experience to visitors from around the world and will extend Playboy's location-based entertainment business. "We are very excited about this partnership. Playboy has chosen to locate the Playboy Mansion here in Macao, one of the fastest growing tourist destinations in the world. And we are very proud that Playboy shares with us our ambition to create a must-see and must-stay destination that we strongly believe will redefine resort entertainment in Macao," said Peter Lam, Co-Chairman of Macao Studio City. "Our partnership with Playboy is a re-affirmation of our commitment to bring to Macao the very best in entertainment and retail," said David Friedman, Co-Chairman and Co-Chief Executive Officer of Macao Studio City. "We aim to make Macao the entertainment hub of Asia, and Macao Studio City the entertainment centre of Macao. Playboy is a world-renowned entertainment and lifestyle brand and the Playboy Mansion Macao is where the stars will be. Visitors to Macao Studio City will be able to play and stay like a star." Playboy Mansion Macao will be designed as a modern expression of the Playboy lifestyle with local flavor by the visionary international design team of Studio Gaia. Playboy Mansion Macao will offer gaming as an extension of the gaming area of the complex, and will feature a contemporary interpretation of the famed Playboy pool and grotto and offer the ultimate overnight accommodations in the Hugh M. Hefner Villa. Playboy Mansion Macao's ambiance of a luxurious private residence pays homage to the legendary home of Hugh M. Hefner, Founder and Chief Creative Officer of PEI, who said, "With the tremendous success of the Playboy Club Casino at the Palms Hotel in Las Vegas which opened in October 2006, we are extremely pleased to extend our location-based entertainment to Asia, where our brand has been strong for years. Playboy-branded products debuted almost 20 years ago in China and there are Playboy concept stores in Bangkok, Hong Kong, Kuala Lumpur and Tokyo. We knew Macao made sense for the brand as an entertainment destination and were searching for the right partner, which we found in Macao Studio City." "As Macao evolves into one of the world's top tourist destinations, Playboy Mansion Macao will add a new dimension of experience to the territory," added Ambrose Cheung, Co-Chief Executive Officer of Macao Studio City. "Playboy Mansion Macao will help to draw visitors around the region to Macao as the club is truly one-of-a-kind in Asia. Nightlife in Macao will never be the same again; Macao Studio City in partnership with Playboy will set new benchmarks in entertainment and luxury." "The Playboy brand is known around the world as representing 'the good life', and we look forward to bringing the brand to life in Macao. Macao has vast growing power as a travel destination, with the number of visitors expected to double between 2006 and 2011," said Christie Hefner, Chairman and Chief Executive Officer of PEI. "Macao's enormous growth potential along with the extensive entertainment, hospitality and gaming industry experience of our partners make this deal an attractive strategic move for the company." Macao Studio City will be developed on an approximately 33-acre site strategically located "Where Cotai Begins(TM)", next to the new Lotus Bridge immigration checkpoint, linking the complex directly to Zhuhai's Hengqin Island. When completed, Macao Studio City will boast some of the most comprehensive entertainment and retail facilities of any single property in Macao, with theatres, arenas, television and film production facilities, as well as a one million square foot Studio Retail(TM) complex called The Mall at Studio City -- created in partnership with Taubman Centers, Inc. About Playboy Enterprises, Inc. Playboy Enterprises is a brand-driven, international multimedia entertainment company that publishes editions of Playboy magazine around the world; operates television networks and distributes programming globally; owns Playboy.com, a leading men's lifestyle and entertainment website; and licenses the Playboy trademark internationally for a range of consumer products and services. For more information please visit http://www.playboyenterprises.com. About Macao Studio City Macao Studio City is Asia's first leisure resort property combining theatre, television and film production facilities, and Studio Retail(TM), with gaming, entertainment and world-class hotels, such as the Ritz-Carlton and Marriott. Macao Studio City is being developed by Cyber One Agents Limited, a joint venture between New Cotai, LLC and East Asia Satellite Television Holdings, a subsidiary of Hong Kong-based eSun Holdings ("eSun"; stock code: 571). Singapore's CapitaLand owns 33.3 per cent of East Asia Satellite Television Holdings while eSun Holdings owns the remaining 66.7 per cent. eSun Holdings is one of Asia's leading media and entertainment 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. New Cotai, LLC is a consortium of US-based investors, including David Friedman, Co-Chairman of Macao Studio City and a veteran resort and gaming developer who led Las Vegas Sands' entry into Macao, 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. CapitaLand is one of the largest listed real estate companies in Asia. Headquartered in Singapore, the multinational company's core businesses 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 90 cities in over 20 countries. CapitaLand also leverages on its significant real estate asset base, financial skills and market knowledge to develop real estate financial products and services in Singapore and the region. For more information, please visit http://www.macaostudiocity.com. FORWARD-LOOKING STATEMENTS This release contains "forward-looking statements," including statements as to expectations, beliefs, plans, objectives and future financial performance, and assumptions underlying or concerning the foregoing. We use words such as "may," "will," "would," "could," "should," "believes," "estimates," "projects," "potential," "expects," "plans," "anticipates," "intends," "continues" and other similar terminology. These forward-looking statements involve known and unknown risks, uncertainties and other factors, which could cause our actual results, performance or outcomes to differ materially from those expressed or implied in the forward-looking statements. We want to caution you not to place undue reliance on any forward-looking statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. The following are some of the important factors that could cause our actual results, performance or outcomes to differ materially from those discussed in the forward-looking statements: (1) Foreign, national, state and local government regulations, actions or initiatives, including: (a) attempts to limit or otherwise regulate the sale, distribution or transmission of adult-oriented materials, including print, television, video, Internet and wireless materials, (b) limitations on the advertisement of tobacco, alcohol and other products which are important sources of advertising revenue for us, or (c) substantive changes in postal regulations which could increase our postage and distribution costs; (2) Risks associated with our foreign operations, including market acceptance and demand for our products and the products of our licensees; (3) Our ability to manage the risk associated with our exposure to foreign currency exchange rate fluctuations; (4) Changes in general economic conditions, consumer spending habits, viewing patterns, fashion trends or the retail sales environment which, in each case, could reduce demand for our programming and products and impact our advertising revenues; (5) Our ability to protect our trademarks, copyrights and other intellectual property; (6) Risks as a distributor of media content, including our becoming subject to claims for defamation, invasion of privacy, negligence, copyright, patent or trademark infringement, and other claims based on the nature and content of the materials we distribute; (7) The risk our outstanding litigation could result in settlements or judgments which are material to us; (8) Dilution from any potential issuance of common stock or convertible debt in connection with financings or acquisition activities; (9) Competition for advertisers from other publications, media or online providers or any decrease in spending by advertisers, either generally or with respect to the adult male market; (10) Competition in the television, men's magazine, Internet, new electronic media and product licensing markets; (11) Attempts by consumers or private advocacy groups to exclude our programming or other products from distribution; (12) Our television, Internet and wireless businesses' reliance on third parties for technology and distribution, and any changes in that technology and/or unforeseen delays in its implementation which might affect our plans and assumptions; (13) Risks associated with losing access to transponders or technical failure of transponders or other transmitting or playback equipment that is beyond our control and competition for channel space on linear television platforms or video-on-demand platforms; (14) Failure to maintain our agreements with multiple system operators, or MSOs, and direct-to-home, or DTH, operators on favorable terms, as well as any decline in our access to, and acceptance by, DTH and/or cable systems and the possible resulting deterioration in the terms, cancellation of fee arrangements or pressure on splits with operators of these systems; (15) Risks that we may not realize the expected increased sales and profits and other benefits from acquisitions; (16) Any charges or costs we incur in connection with restructuring measures we may take in the future; (17) Risks associated with the financial condition of Claxson Interactive Group, Inc., our Playboy TV-Latin America, LLC, joint venture partner; (18) Increases in paper, printing or postage costs; (19) Risks associated with certain minimum revenue amounts under certain television distribution agreements; (20) Effects of the national consolidation of the single-copy magazine distribution system; (21) Effects of the national consolidation of television distribution companies (e.g., cable MSOs, satellite platforms and telecommunications companies); and (22) Risks associated with the viability of our subscription-, on demand- and e-commerce-based Internet models. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, which are available at http://www.sec.gov or in the Investor Relations section of our website. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
