• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Melco Crown Philippines changes name, stock ticker

May 23, 2017 Newsdesk Latest News, Philippines, Top of the deck  


Melco Crown Philippines changes name, stock ticker

Philippines-based operator Melco Crown (Philippines) Resorts Corp announced on Tuesday it has officially rebranded itself as “Melco Resorts and Entertainment (Philippines) Corp”. The Philippine Stock Exchange-listed firm’s stock ticker name would also change from “MCP” to “MRP”, the firm said in a filing.

The rebranding of the Philippines unit follows a similar move from its parent company, Nasdaq-listed Melco Resorts and Entertainment Ltd. Melco Resorts adopted the new name following a series of sell downs by its business partner, Australian casino operator Crown Resorts Ltd.

Hong Kong-listed Melco International Development Ltd, controlled by Lawrence Ho Yau Lung, now owns a majority position in Melco Resorts, while Crown Resorts has disposed of its entire stake in that company.

Melco Resorts Philippines operates the City of Dreams Manila casino resort (pictured) in the Philippines capital.

Both the Manila property and the City of Dreams resort in Macau currently have one hotel that carries the name Crown Towers. In an interview this week with Chinese-language newspaper Macao Daily News, Mr Ho confirmed that Melco Resorts wants to run directly the hotels in both properties, meaning the company intends to replace the Crown brand with its own brand. The exception would be the partnership with the Hyatt brand which is present at City of Dreams in Macau and City of Dreams Manila, and which helps promote the exhibition and convention business, added Mr Ho.

In Macau, Melco Resorts already announced that it would be dropping the Hard Rock brand from its City of Dreams resort.

Since 2015, Melco Resorts Philippines has returned almost eight times more than a Bloomberg Intelligence index of global casino stocks. The City of Dreams Manila should continue to benefit from rising numbers of Chinese visitors to the Philippines, according to a recent note from Aegis Capital Corp.


  • tweet
Related articles
  • Melco’s Lawrence Ho hopeful on Macau recovery in March
    Melco’s Lawrence Ho hopeful on Macau...

    Feb 26, 2021  

  • Gaming recovery helps Melco Resorts EBITDA break even 4Q
    Gaming recovery helps Melco Resorts...

    Feb 26, 2021  

More news
  • Aristocrat to launch EGM-based responsible gaming features
    Aristocrat to launch EGM-based...

    Feb 26, 2021  

  • Suncity to open clubs at Londoner Macao, Lisboa Palace
    Suncity to open clubs at Londoner...

    Feb 26, 2021  


Latest News

Aristocrat to launch EGM-based responsible gaming features

Aristocrat to launch EGM-based responsible gaming features

Feb 26, 2021  

Casino slot machine maker and digital games provider Aristocrat Leisure Ltd says it plans to launch in the first quarter this year a new product with responsible gaming features, which has already...
Read More
Suncity to open clubs at Londoner Macao, Lisboa Palace

Suncity to open clubs at Londoner Macao, Lisboa Palace

Feb 26, 2021  

Tech supplier Crane ups forecast for 2021 core sales

Tech supplier Crane ups forecast for 2021 core sales

Feb 26, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day


US$53.4 million

Adjusted EBITDA reported by Asian casino operator Melco Resorts and Entertainment for the fourth quarter of 2020



Most Popular

  • Macau casino GGR soared in final days of CNY: brokeragesMacau casino GGR soared in final days of CNY: brokerages February 23, 2021
  • Pansy Ho sells off more stock in MGM Resorts for US$36mlnPansy Ho sells off more stock in MGM Resorts for US$36mln February 23, 2021
  • Macau removes last mainland cities from its quarantine listMacau removes last mainland cities from its quarantine list February 23, 2021
  • GEG in US$1.6bln construction deal on Galaxy Macau Phase 4GEG in US$1.6bln construction deal on Galaxy Macau Phase 4 February 22, 2021
  • Macau VIP challenged by changes in China: Galaxy Ent bossMacau VIP challenged by changes in China: Galaxy Ent boss February 25, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us