Melco Crown Entertainment Ltd., formerly Melco PBL Entertainment (Macau) Limited, is a developer, owner and, through its subsidiary MPBL Gaming, operator of casino gaming and entertainment resort facilities focused on the Macau market. The Company, through its subsidiary MPBL Gaming is one of six companies licensed, through concessions or sub-concessions, to operate casinos in Macau. In December 2007, the Company announced that its shareholder, Consolidated Media Holdings Limited (PBL), has demerged its gaming and media businesses into two separate companies on December 12, 2007. On December 10, 2007, Crown Limited (Crown) completed its acquisition of PBL. Crown owns the gaming businesses, including the 37.9% direct interest in the Company previously held by PBL.