• 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

Travellers tender offer complete, on schedule to go private

Sep 27, 2019 Newsdesk Latest News, Philippines, Top of the deck  


Travellers tender offer complete, on schedule to go private

Philippine casino operator Travellers International Hotel Group Inc says a total of just over 1.32 billion common shares was tendered by the end of a tender-offer period on September 23.

“The tendered shares are expected to be crossed on 30 September 2019,” said Travellers International in a filing on Thursday to the Philippine Stock Exchange (PSE). “In view thereof, the resulting public float will be less than 2 percent after the crossing of shares,” it added.

The company said a total of just over 261.80 million common shares, forming part of the existing public float, had not been tendered by the September 23 deadline.

The operator of the Resorts World Manila casino resort in the Philippines started on August 19 a PHP8.7-billion (US$166.9-million) offer to public shareholders to take the business private. The offer was for over 1.58 billion shares in the company which were held by stockholders other than the non-public shareholders.

At the time it announced its intention to delist from the PSE, Travellers International said that the offer depended on it being accepted by the holders of just over 838.21 million shares, and on the non-public shareholders ending up with at least 95 percent of the stock of the company in their hands.

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”.

The company – a venture between Hong Kong-listed cruise ship operator Genting Hong Kong Ltd and Philippine conglomerate Alliance Global Group Inc – intends voluntarily to delist its common shares from the main board of the PSE on October 21, according to an earlier filing.


  • tweet
Related articles
  • GEN HK liquidators considering offers on Manila venue stake
    GEN HK liquidators considering offers...

    Aug 18, 2022  

  • Travellers International 2Q GGR up 25pct sequentially
    Travellers International 2Q GGR up...

    Aug 16, 2022  

More news
  • Macau resuming tourism promotion on Chinese mainland
    Macau resuming tourism promotion on...

    Aug 19, 2022  

  • SOFTSWISS Game Aggregator deal on Vibra Gaming content
    SOFTSWISS Game Aggregator deal on Vibra...

    Aug 19, 2022  


Latest News

Macau resuming tourism promotion on Chinese mainland

Macau resuming tourism promotion on Chinese mainland

Aug 19, 2022  

Macao Government Tourism Office (MGTO) said on Friday that it is resuming promotion of Macau as a travel destination, targeting mainland Chinese consumers. Its new campaign starts this month and runs...
Read More
SOFTSWISS Game Aggregator deal on Vibra Gaming content

SOFTSWISS Game Aggregator deal on Vibra Gaming content

Aug 19, 2022  

Ambrose So, CEO of Macau op SJM cuts stake for US$11mln

Ambrose So, CEO of Macau op SJM cuts stake for US$11mln

Aug 19, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

“The key focus is digging ourselves, together with the other five operators, out of hole that Macau has been in for the last three years”

Lawrence Ho Yau Lung

Chairman of casino operator Melco Resorts



Most Popular

  • China restates action on overseas-bet fugitivesChina restates action on overseas-bet fugitives August 17, 2022
  • David Chow exits board of casino services biz Macau LegendDavid Chow exits board of casino services biz Macau Legend August 17, 2022
  • Singapore’s Gambling Regulatory Authority inauguratedSingapore’s Gambling Regulatory Authority inaugurated August 16, 2022
  • Galaxy Ent 2Q EBITDA dips 41pct sequentially, 1H lossGalaxy Ent 2Q EBITDA dips 41pct sequentially, 1H loss August 18, 2022
  • Studio City Phase 2 opening 2Q23, in stages: Lawrence HoStudio City Phase 2 opening 2Q23, in stages: Lawrence Ho August 19, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us