Exhibit 4.27
 EXECUTION COPY
 Dated 30thAugust 2008
 HARD ROCK CAFE INTERNATIONAL (STP), INC.
 AND
 MELCO CROWN (COD) DEVELOPMENTS LIMITED
 AND
 MELCO CROWN COD (HR) HOTEL LIMITED
 
 NOVATION AGREEMENT
in respect of Hotel Memorabilia Lease




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THIS
NOVATION AGREEMENT th
 BETWEEN
 (1)
    
    Hard Rock Cafe International (STP), INC.a Florida corporation (the Lessor);
 (2)
    
    Melco Crown (COD) Developments Limited(formerly known as Melco Hotel and Resorts (Macau)
Limited) a company incorporated under the laws of Macau whose registered office is at Avenida
Xian Xing Hai, No. 105, Zhu Kuan Building, 19th floor, A-C e K-N, Macau (the Old Lessee);
and
 (3)
    
    Melco Crown COD (HR) Hotel Limiteda company incorporated under the laws of Macau whose
registered office is at Avenida Xian Xing Hai, No. 105, Zhu Kuan Building, 19th floor, A-C e
K-N, Macau (the New Lessee).
 WHEREAS
 (A)
    
    By a memorabilia lease dated 22nd January 2007 (the Lease) the Lessor leased to
the Old Lessee the right to use certain articles of memorabilia for display and exhibition at
a specified licensed location.
 (B)
    
    The Old Lessee wishes to be released and discharged from the Lease and the New Lessee wishes
to take up the rights and benefits of the Lease and to assume the obligations and liabilities
of the Old Lessee under the Lease whether arising on or before or after the date hereof.
 (C)
    
    The Lessor has agreed to release and discharge the Old Lessee upon the terms that, inter
alia, the New Lessee undertakes to perform the Lease in lieu of the Old Lessee and agrees to
be bound by the terms and conditions of the Lease.
 NOW IT IS HEREBY AGREED
  1.
    
    NOVATION
 1.1
    
    The New Lessee hereby undertakes to observe, perform, discharge and be bound by the terms,
conditions and covenants of the Lease (including all the liabilities and obligations of the
Old Lessee arising under the Lease, whether actual, contingent or otherwise, and whether
arising on or before or after the date hereof) in every way as if the New Lessee were, and had
originally been, a party to the Lease in place of the Old Lessee.
 1.2
    
    The Lessor hereby releases and discharges the Old Lessee from the performance of the Lease
and from all obligations, liabilities, claims and demands howsoever arising under or in
relation to the Lease and accepts, the obligations and liabilities of the New Lessee under the
Lease in place of the liabilities and obligations of the Old Lessee and the Lessor agrees to
observe, perform, discharge and be bound by the terms, conditions and covenants of the
Lease in every way as if the New Lessee were, and had originally been, a party to the Lease
in place of the Old Lessee.




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1.3
    
    The Lessor covenants not to bring any suit, action or proceeding or make any demand or claim
of any type against the Old Lessee relating to or in connection with the Lease or the
relationship created thereby. Such release and discharge in Clause 1.2 being without
prejudice to the liabilities and obligation of New Lessee to the Lessor under the Lease as
novated by this Novation Agreement. Nothing in this provision shall affect the Lessors, Old
Lessees or New Lessees right to make claims or bring an action for breach of this Novation
Agreement.
 1.4
    
    The Old Lessee hereby releases and discharges the Lessor from the performance of the Lease
and from all obligations, liabilities, claims and demands howsoever arising under or in
relation to the Lease. The Old Lessee covenants not to bring any suit, action or proceeding or
make any demand or claim of any type against the Lessor relating to or in connection with the
Lease or the relationship created thereby. Such release and discharge being without prejudice
to the liabilities and obligation of the Lessor to the New Lessee under the Lease as novated
by this Novation Agreement. Nothing in this provision shall affect the Lessors, Old Lessees
or New Lessees right to make claims or bring an action for breach of this Novation Agreement.
 1.5
    
    The Old Lessee hereby assigns and transfers absolutely to the New Lessee all its rights,
title and interests in the Lease including all correspondence, memoranda, drawings, samples,
calculations, plans, specifications, models and other relevant documents and information
pertaining to the services and work the Old Lessee provided under the Lease.
 2.
    
    DEEMED PAYMENTS
  3.
    
    FURTHER ASSURANCE
  4.
    
    COSTS AND EXPENSES




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5.
    
    ENTIRE AGREEMENT; AND FUTURE TRANSFERS
  6.
    
    GOVERNING LAW AND JURISDICTION
 6.1
    
    This Novation Agreement shall be governed by and construed in accordance with the laws of the
Hong Kong Special Administrative Region.
 6.2
    
    In the event of any dispute and/or disagreement arising in connection with this Agreement,
the dispute resolution clauses as provided for in the Lease shall apply.
 7.
    
    CONFIDENTIALITY
  (a)
    
    in connection with any proceedings arising out of or in connection with this
Novation Agreement to the extent that either party may consider necessary to protect
its interests;
 (b)
    
    if required to do so by an order of a court of competent jurisdiction whether
in pursuance of any procedure for discovering documents or otherwise or pursuant to any
law;
 (c)
    
    to its auditors or legal advisors or other professional advisers;
 (d)
    
    if required to do so by any applicable law or in order for such party to comply
with its obligations under this Novation Agreement;
 (e)
    
    to its financiers, their agent or legal advisers; or
 (f)
    
    to a governmental, banking, taxation, stock exchange, securities or regulatory
authority which has legal or other regulatory authority over the relevant party.




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Signed by
    
    
    )
    
    
    Authorised signatory /s/ Jay Anthony Wolszczafor and on behalf of
    
    
    )
    
    
    Full name Jay Anthony WolszczaHard Rock Café International (STP), Inc.,
    
    
    )acting by its
    
    
    )authorised signatory:-
    
    
    ))in the presence of:
    
    
    )
 /s/ Stephanie K. BarnesSignature of WitnessStephanie K. BarnesName:




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Signed by
    
    
    )
    
    
    Authorised signatory /s/ Garry Saundersfor and on behalf of Melco Crown (COD)
    
    
    )
    
    
    Full name Garry SaundersDevelopments Limited, acting by its
    
    
    )authorised signatory:-
    
    
    ))in the presence of:
    
    
    )
 /s/ Debbie WongSignature of WitnessDEBBIE WONG

Name:




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Signed by
    
    
    )
    
    
    Authorised signatory /s/ Garry Saundersfor and on behalf of Melco Crown COD
    
    
    )
    
    
    Full name Garry Saunders(HR) Hotel Limited, acting by its
    
    
    )authorised signatory:-
    
    
    ))in the presence of:
    
    
    )
 /s/ Debbie WongSignature of WitnessDEBBIE WONGName: