• 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
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Melco Crown Philippines seeks US$125 mln selling shares

Jun 19, 2014 Newsdesk Latest News, Philippines, Top of the deck  


Melco Crown Philippines seeks US$125 mln selling shares

Melco Crown (Philippines) Resorts Corp announced on Thursday it is seeking to raise as much as 5.48 billion pesos (US$125 million) selling shares.

The company said in a filing to the Philippine Stock Exchange it is selling as many as 485.2 million shares at an offer price of 11.30 pesos.

Melco Crown Philippines, a subsidiary of Macau gaming operator Melco Crown Entertainment Ltd, said the deal would allow it to raise capital for the completion of City of Dreams Manila.

The company announced on Wednesday the total budget for the casino resort up to the time of opening increased from US$680 million to approximately US$832 million. It did not provide a reason for the 22-percent hike.

The project is officially scheduled to open “in 2014″. Armin Santos, executive vice president for integrated resorts at Melco Crown Philippines’s local partner Belle Corp, confirmed to GGRAsia during the Global Gaming Expo (G2E) Asia 2014 last month that the partners’ aim is to open City of Dreams Manila in October to coincide with China’s Golden Week holiday.  Belle is controlled by SM Group, headed by Henry Sy, patriarch of the Philippines’ richest family. The property will be operated by Melco Crown Philippines.

Melco Crown shares were suspended since Wednesday at the company’s request. The company said it seeks to resume trading in the shares on Thursday.


  • tweet
Related articles
  • Pagcor rev topped US$5.4bln in 6 years, says Domingo
    Pagcor rev topped US$5.4bln in 6 years,...

    Jun 30, 2022  

  • Pagcor says 35pct of revenue owed from POGOs ‘resolved’
    Pagcor says 35pct of revenue owed from...

    Jun 27, 2022  

More news
  • Four Seasons Macao shops paused on Covid cases
    Four Seasons Macao shops paused on...

    Jul 04, 2022  

  • Paradise Co 1H casino rev down 10 pct y-o-y
    Paradise Co 1H casino rev down 10 pct...

    Jul 04, 2022  


Latest News

Four Seasons Macao shops paused on Covid cases

Four Seasons Macao shops paused on Covid cases

Jul 04, 2022  

All outlets at the Shoppes at Four Seasons, a mall in one of casino operator Sands China Ltd’s Cotai properties (pictured), have been shut temporarily amid an alert over “at least” 40...
Read More
Paradise Co 1H casino rev down 10 pct y-o-y

Paradise Co 1H casino rev down 10 pct y-o-y

Jul 04, 2022  

Fresh hotel, branded New World opens at Hoiana in Vietnam

Fresh hotel, branded New World opens at Hoiana in Vietnam

Jul 04, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”I thought they were wise to recommend five locations across the kingdom [for casino resorts] rather than one or two locations in Bangkok”

Andrew Klebanow

Principal at industry consultancy C3 Gaming Group



Most Popular

  • Macau due 3 new rounds of Covid tests, more than 850 casesMacau due 3 new rounds of Covid tests, more than 850… July 4, 2022
  • Macau ops all likely had negative 2Q EBITDA: JP MorganMacau ops all likely had negative 2Q EBITDA: JP Morgan July 4, 2022
  • Four Seasons Macao shops paused on Covid casesFour Seasons Macao shops paused on Covid cases July 4, 2022
  • Macau tells casinos cut on-duty staff by 90pct: reportsMacau tells casinos cut on-duty staff by 90pct: reports July 1, 2022
  • Macau monthly GGR for June worst since Sept 2020Macau monthly GGR for June worst since Sept 2020 July 1, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us