printmgr file Exhibit 99.1 EXPLANATORY NOTE Studio City Finance Limited's Quarterly Report for the Three Months Ended March 31, 2016

This quarterly report serves to provide holders of Studio City Finance Limited's US$825,000,000 8.50% senior notes due 2020 (the "Studio City Notes") with Studio City Finance Limited's unaudited condensed consolidated financial statements, comprising condensed consolidated balance sheets, condensed consolidated statements of operations and condensed consolidated statements of cash flows, for the three months ended March 31, 2016, together with the related information, pursuant to the terms of the indenture, dated November 26, 2012, relating to the Studio City Notes. Studio City Finance Limited is a 60% owned subsidiary of Melco Crown Entertainment Limited.

Studio City Finance Limited Report for the First Quarter of 2016 TABLE OF CONTENTS

INTRODUCTION

1

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

4

GLOSSARY

5

EXCHANGE RATE INFORMATION

7

FINANCIAL CONDITION AND RESULTS OF OPERATIONS

8

INDEX TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

F-1

In this quarterly report, unless otherwise indicated:

INTRODUCTION
  • "Additional Development" refers to the additional development on the land on which Studio City is located, which is expected to include an additional luxury hotel and related facilities with retail, entertainment and gaming expansion capacity;

  • "Altira Macau" refers to an integrated casino and hotel development located in Taipa Macau that caters to Asian rolling chip customer;

  • "China" and "PRC" refer to the People's Republic of China, excluding Hong Kong, Macau and Taiwan from a geographical point of view;

  • "City of Dreams" refers to a casino, hotel, retail and entertainment integrated resort located in Cotai, Macau, which currently features casino areas and three luxury hotels, including a collection of retail brands, a wet stage performance theater and other entertainment venues;

  • "Concessionaire(s)" refers to the holder(s) of a concession for the operation of casino games in Macau;

  • "Cotai" refers to an area of reclaimed land located between the islands of Taipa and Coloane in Macau;

  • "DICJ" refers to the Direcção de Inspecção e Coordenação de Jogos (the Gaming Inspection and Coordination Bureau), a department of the Public Administration of Macau;

  • "HK$" and "H.K. dollar(s)" refer to the legal currency of Hong Kong;

  • "Hong Kong" refers to the Hong Kong Special Administrative Region of the PRC;

  • "Macau" refers to the Macau Special Administrative Region of the PRC;

  • "MCE" refers to Melco Crown Entertainment Limited, a company incorporated in the Cayman Islands with its American depository shares listed on the NASDAQ Global Select Market, and which, through its subsidiary MCE Cotai, ultimately owns a 60% interest in SCI;

  • "MCE Affiliates" refers to the subsidiaries of MCE other than SCI and its subsidiaries;

  • "MCE Cotai" refers to MCE Cotai Investments Limited, a subsidiary of MCE and a shareholder of SCI;

  • "Melco Crown Macau" refers to MCE's subsidiary, Melco Crown (Macau) Limited, a Macau company and the holder of a gaming subconcession;

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  • "New Cotai" refers to New Cotai, LLC, a Delaware limited liability company owned by New Cotai Holdings;

  • "New Cotai Holdings" refers to New Cotai Holdings, LLC, a Delaware limited liability company, formed on March 24, 2006 under the laws of the U.S. State of Delaware, primarily owned by U.S. investment funds managed by Silver Point Capital, L.P. and Oaktree Capital Management, L.P.;

  • "Non-gaming Services Agreements" refers to the services agreements and arrangements for non-gaming services entered into on December 21, 2015 between SCI and certain of its subsidiaries on one hand and certain MCE Affiliates on the other under which SCI and its subsidiaries and MCE Affiliates share and mutually provide certain non-gaming services at Studio City, City of Dreams and Altira Macau;

  • "Pataca(s)" and "MOP" refer to the legal currency of Macau;

  • "Property" refers to a large-scale integrated leisure resort in Cotai, Macau, consisting of Studio City and the Additional Development;

  • "Project Costs" refers to the construction and development costs and other project costs, including licensing, financing, interest, fees and pre-opening costs, of Studio City, as subsequently amended in accordance with the Studio City Project Facility;

  • "SCI" refers to an indirect parent of our company, Studio City International Holdings Limited, a company incorporated in the British Virgin Islands with limited liability;

  • "Services Agreement" refers to a services agreement entered into in May 2007 as amended in June 2012 between Studio City Entertainment and Melco Crown Macau, together with other agreements or arrangements entered into between the parties from time to time, which may amend, supplement or related to the aforementioned agreement;

  • "Shareholders Agreement" refers to the shareholders agreement dated July 27, 2011, by and among MCE Cotai, New Cotai, MCE and SCI (as amended from time to time);

  • "Studio City" refers to a cinematically-themed integrated entertainment, retail and gaming resort in Cotai, Macau, and being the first phase of the Property;

  • "Studio City Casino" refers to the gaming areas being constructed or operated within the Property;

  • "Studio City Company" refers to our subsidiary, Studio City Company Limited, a British Virgin Islands company;

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Melco Crown Entertainment Limited published this content on 31 May 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 31 May 2016 03:16:01 UTC.

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