Oct 16, 2019 Newsdesk Latest News, Philippines, Top of the deck  
The shares of Philippine casino operator Travellers International Hotel Group Inc will stop being traded on the Philippine Stock Exchange with effect from October 21.
The news was confirmed in a Monday disclosure by the exchange. It said the board of the bourse had agreed to the voluntary delisting at a meeting on October 9.
Last month the casino firm said a total of just over 1.32 billion common shares was tendered by September 23, the end of a tender-offer period organised by the company.
The operator of the Resorts World Manila casino resort in the Philippines started on August 19 a PHP8.7-billion (US$168-million) offer to public shareholders to take the business private. The company is a venture between Hong Kong-listed cruise ship operator Genting Hong Kong Ltd and Philippine conglomerate Alliance Global Group Inc.
Travellers International had previously told the exchange the conversion from a public entity into a private company would allow the firm to address in a “timely” way, “evolving market demands and rapidly-changing customer needs without compromising its business strategies to competition”.
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Macau satellite casino promoter Emperor Entertainment Hotel Ltd reported an interim profit attributable to its owners of HKD11.8 million (US$1.5 million) for the six months to September 30. The...
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”There’s been a 20 percent or 30 percent increase in our testing staff to handle globally the amount of extra work that we’ve got, and the Philippines and Macau have definitely contributed to that overall growth”
Ian Hughes
Chief commercial officer of testing and certification firm GLI