Oct 19, 2018 Newsdesk Latest News, Philippines, Top of the deck  
The majority owner of Melco Resorts and Entertainment (Philippines) Corp, the operator of the City of Dreams casino resort in Manila, has postponed again its effort to take the company private.
Melco Resorts Philippines told the Philippine Stock Exchange on Thursday that the majority shareholder, MCO Investments (Philippines) Ltd, would defer its tender offer for nearly 1.57 billion outstanding common shares in Melco Resorts Philippines held by the public, which it had been due to begin next Monday.
Melco Resorts Philippines gave no reason for the postponement. The company said MCO Investments would set a date for an amended offer sometime next week.
MCO has already postponed the offer once before. The original offer price was PHP7.25 (US$0.13) a share.
Melco Resorts Philippines made last month a formal request to the Philippine Stock Exchange for delisting of its shares on that bourse.
Melco Resorts Philippines is a subsidiary of Asian casino developer Melco Resorts and Entertainment Ltd.
Feb 26, 2021
Feb 26, 2021
Mar 05, 2021
Mar 05, 2021
Mar 05, 2021
Despite United States-based casino group Las Vegas Sands Corp (LVS) being in line to generate US$6.25 billion from the sale of its Las Vegas, Nevada assets, Fitch Ratings Inc said in a Thursday memo...
(Click here for more)
“Prolonged closure of operations could derail earnings recovery and weigh on NagaCorp’s credit quality"
Junling Tan, Yu Sheng Tay and Vikas Halan
Analysts at credit rating agency Moody’s Investors Service