A Hong Kong-listed company controlled by Melco Crown Entertainment Ltd co-chairman Lawrence Ho Yau Lung (pictured) says it expects a second-phase public tender for a casino resort near Barcelona, Spain, to start “shortly”.
MelcoLot Ltd – which in the first half this year made 79 percent of its revenue from sports lottery distribution in mainland China – is seeking to expand, via subsidiaries, into casino operations interests in Europe.
MelcoLot said in a filing to the Growth Enterprise Market of the Hong Kong Stock Exchange in August last year that a wholly owned subsidiary called Instant Glory Holdings Ltd “recently became a shareholder” of a company called BCN Integrated Resorts 2 SA, a 50-50 joint venture with Veremonte España SL.
BCN Integrated Resorts 2 “was formed for the purpose of submitting an application” for a licence to operate a casino at BCN World, a large-scale entertainment complex planned for Barcelona. The company submitted its application on July 25, 2014, the filing said.
MelcoLot said in a filing late on Monday this week: “Regarding the development of a premium integrated resort near Barcelona, Spain, it is expected that the second phase public tender will commence shortly. Our planning process has been continuing.”
The same filing also confirmed that a planned MelcoLot investment in a casino scheme in Eastern Europe was making some progress.
“The group’s plan to launch a high end casino project in the Republic of Georgia continued to make headway,” said MelcoLot. The firm added: “Although it has taken longer than originally anticipated to settle the terms of the casino premises lease, that process is now in its final stage.”
MelcoLot said in a filing in November that a wholly owned subsidiary called Express Wealth Enterprise Ltd had been set up to hold the licence for a proposed casino project in Tbilisi, Georgia’s capital.
In the November filing MelcoLot said one of the Georgia investors was Firich Enterprises Co Ltd – a Taiwan-listed maker of electronic gaming machines. Firich has also put money into another casino project linked to Mr Ho – the Tigre de Cristal casino resort in the Primorye region in the Russian Far East.
Summit Ascent Holdings Ltd, a Hong Kong-listed firm also controlled by Mr Ho, said in a filing in May to the Hong Kong Stock Exchange, said that Tigre de Cristal would open “by August 28”.
MelcoLot said on Monday that it had narrowed its first-half loss to HKD19.3 million (US$2.5 million), compared to HKD20.8 million in the year-prior period.
Oct 20, 2020Gradual improvement in Macau’s gross gaming revenue (GGR) levels should serve as a “tailwind” to drive up pricing of Macau gaming stocks, says Deutsche Bank Securities Inc. “We...
Oct 20, 2020
”China has been strengthening the control over capital flow, and the impact of that has already been reflected [on Macau’s gaming revenue trend]. There should not be any bigger impact from the new… legislation [on the mainland] … on the gaming revenue trend here”
Wilfred Wong Ying Wai
President of Macau casino operator Sands China